From Crimson's Latest Conference Call

Here is the analyst's Q&A from part of the recent cxpo call:

Eric B. Anderson- Hartford Financial Management, Inc.

Okay. Can I just sneak in one last one. I know you've talked about in prior quarters that you're monitoring the James Lime activity up in San Augustine. I just wondered if you could discuss sort of how these wells are sort of -- how they're producing 6 to 9 months into being brought online?

Allan D. Keel

Yes. There's -- Eric, there's not a lot of data available yet but based on the initial rates, the performance continues to -- looks like it continues to improve. We've done a little bit of work on that based on the data that we do have and there is a very strong progression showing an improvement in performance. And obviously, it's a newer play there in terms of the liquid -- on the liquid side because historically, that's been a dry gas producer or reservoir up in that area. But I think we're monitoring that. We think Devon is doing a great job up there and they continue to improve on their performance, and we're very excited about what the opportunity is there for us. And we've got to find a way to get up there and get active and just improve on our position.

Eric B. Anderson- Hartford Financial Management, Inc.

So economics so far are not as attractive as what you can find in the Woodbine or possibly the Georgetown in your Madison County area?

Allan D. Keel

Well, I would say up until the more recent results that might be true but given the recent results that we've seen and that have been announced, I would say that James Lime is -- the economics is such that are becoming more attractive. I mean, there is -- if they need to figure out or we need to figure out a processing solution up there across all the outlets up there are for dry gas. So I'm sure that not only us but Devon as well, we're trying to figure out exactly what that outtake solution might be. But in terms of the -- I think the economics of that play are continuing to improve. And as more drilling occurs and we learn more and more data is available, we feel like that could be just another growth area for Crimson.

Views: 765

Replies to This Discussion

Permalink Reply by adubu on August 12, 2012 at 8:21
ALongview --- the area that James lime has good liquids is not that wide of an area is it around San Augustine? Go east and north you get to James Lime with minimal liquids with gas that have been drilled over last 10-12 years, but around San Augustine were they have found liquids within James Lime it sure improve economy of the well that's for sure
Permalink Reply by ALongview on August 12, 2012 at 8:30

It may be bigger than people thought.

See attched map.

 

Attachments:
Permalink Reply by ALongview on August 12, 2012 at 8:34

Also see W&T Offshore comments on the subject.  They have drilled a couple of these James Lime oil wells also.

Attachments:
Permalink Reply by adubu on August 12, 2012 at 9:29

W & T must be JV with some one and not the operaotor -- I find no drilling permits on Texas RRC web site except few vertical wells in Newton County

Permalink Reply by ALongview on August 12, 2012 at 11:30

Here they are:

Submitted 08/12/2011 Approved 08/17/2011 685708  405-30298  W&T OFFSHORE, INC. (887952)  BLACK STONE WHITE ROCK C 1SN  06  SAN AUGUSTINE  Horizontal  New Drill  Yes  8000  Approved 
Submitted 01/05/2012 Approved 01/11/2012 731075  405-30487  W&T OFFSHORE, INC. (887952)  BLACK STONE SINCLAIR A-399 1H   06  SAN AUGUSTINE  Horizontal, Vertical  New Drill  -  13000  Approved 
Submitted 06/28/2012 Approved 07/12/2012 743793  405-30503  W&T OFFSHORE, INC. (887952)  BLACK STONE COLWELL A-8 1   06  SAN AUGUSTINE  Horizontal  New Drill  -  9000  Approved 
Permalink Reply by adubu on August 12, 2012 at 11:44

Thanks ALongview--I see they were permit under Harding and company--- have they drill any more of these Harding/W & T well yet? They said drilled the Sinclair A-399-- do you now IP and how it is doing presently?  It look like these are just to south of Crimson and DVN James Lime H wells----- I wish the play did cover the map area of W &T but the James Lime in other area all Dry gas throught the country and others

Permalink Reply by ALongview on August 12, 2012 at 11:52

I think they have drilled two and are drilling the third currently.  The fourth should be drilled sometime this year to define the development area for them.  Devon has filed a number of leases lately in Sabine County with depth restrictions to the base of the Pettit formation.  They are targeting the James Lime Liquids there too.  The most recent wells have been producing more oil/condensate and gas than the Pettit wells Cabot had on the County Line in San Augustine and Shelby did. The latest could be about double.

Permalink Reply by adubu on August 12, 2012 at 13:02
ALongview-- good info will follow along -- wish I had some minerals in area -- extended family has good amount of acreage up north of this area in Martinville. I am in Shelby west of Joaquin and Rusk county -- maybe one day can join royalty :)
Permalink Reply by adubu on August 12, 2012 at 9:35

ALongview--- Yes map cover area I was talking about --- Yep nice if you are in this area around San Augustine, Tx but still reality small field with condensate and liquids not wide spread-- but if I had minerals in area would love it.Most of James Lime in the Shelby Trough area is dry gas, but some are good gas wells and not too be laughed at-- I would love to have then-- not deep and costly  as compared H shale wells.-- Just to North still in San Augustine county Cobat has found some Pette H wells with liquids that are more shallow than the James Lime but also area is small.

Permalink Reply by dbob on August 12, 2012 at 15:50

Thanks - i appreciate the comments on Woodbine as well.

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