Replies to This Discussion

landownerPermalink Reply by Caddo Rat on June 20, 2011 at 6:38

Perhaps they are not going to produce anything yet until they are ready. From the leasing activity going on someone sure is interested in Harrison county to Cass county.

Permalink Reply by jffree1 on June 20, 2011 at 12:04

CR, I tend to doubt that the big oil rumor originated with this well.  Sure, they plugged back some 70' from TD but that isn't unusual in a vertical well.  Don't you think, if they could get hundreds of barrels of oil out at today's price... they'd go for it?

So, now all we know (after all that built up anticipation) is that they looked at the rock to 70' below what they are calling Haynesville and they are producing only dry gas from a zone that bottoms @ 11,951'.  And, will comingle every upper interval possible, eventually.  That is the Valence MO. 

 

landownerPermalink Reply by Caddo Rat on June 20, 2011 at 13:23

If I had discovered a new zone and it was half as good as the rumors. I would put a lid on it and lease up everything that the geology trended to and then I would drill a few more to confirm my find then I would do like Exxon Mobil did recently on their Gulf find and make a big splash. If I was another company and I had heard these rumors I wouldn't be out there leasing based on rumors unless my geologists thought that there just might be something down there worth spending money on.

 

Yes I think they are going for it. I think they have been for quite awhile and will continue to do so.

 

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on June 21, 2011 at 1:52

The plug back depth is of no significance and is a common procedure utilized to define the entire thickness of a target formation before planning a lateral in a horizontal well or the perforations in a vertical well.  jffree is correct IMO.  If there was oil to be had, it would have been produced.  Other than the unfounded and rather outlandish rumors attached to this well, it is like numerous previous Valence Operating vertical wells designed to prove up the productive potential of the Haynesville Shale in a particular locale.  Deep oil under the Haynesville would be great for my business but I find the prospect extremely unlikely.

Permalink Reply by Carl Frackler on June 22, 2011 at 4:23

I tend to agree with CR on this one......From their standpoint, silence is golden and allows for savings on the balance sheet.  Hundreds of barrels from one well is nice, but hundreds of thousands from multiple sites is better.

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on June 22, 2011 at 6:17

I tend to think it is easier to believe rumors than to go down to the courthouse and find out for sure.  The number of warm bodies in the record room is often seen as confirming that a lot of land is being leased.  Sometimes it is, sometimes it isn't.  What is definitive is what instruments are being filed with the Clerk.  As old as this rumor is, there should be plentiful and easy to find evidence in the records of Harrison County.