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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.
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.
In researching the decades-old Tuscaloosa Trend and the immense wealth it has generated for many, I find it deeply troubling that this resource-rich formation runs directly beneath one of the poorest communities in North Baton Rouge—near Southern University, Louisiana—yet neither the university ( that I am aware of) nor local residents appear to have received any compensation for the minerals extracted from their land.
This area has suffered immense environmental degradation…
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AboutAs exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More |
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