Replies to This Discussion

Permalink Reply by The_Baron on December 17, 2008 at 4:24

You better wean them off it, Skip.

Permalink Reply by Skip Peel - Mineral Consultant on December 16, 2008 at 11:36

s.j. It's not a big deal really but most of us use CK not CP as short hand for Chesapeake as that is their stock ticker symbol. Just as HK is used for Petrohawk. You of course can use your own shorthand if you wish and we will attempt to interpret. I will suppose that you are referring to 1000 Haynesville Shale wells. Once, not long ago, there were not sufficient numbers of HA (LA. Dept. of Natural Resources/Office of Conservation abbreviation for the Haynesville zone, many use HA and HS interchangeably and are understood) depth capable rigs available for any one company to drill 1000 wells in a year. That may very well have changed now. It would take somewhere in the neighborhood of 90 to 120 rigs to accomplish that on a best case scenario. And no operator that I am aware of had plans for more than 35 operated rigs in 2009 and that was before capex (capital expenditures) were cut 60 to 80%. I am unsure of the"oil company" that you speak of but unless you have some insider information that is diametrically opposed to current industry announcements, I think you may be mistaken. I would gladly be proven wrong. How about some details or even hints. I'll start the guessing game - Shell?

Permalink Reply by BirdDawg, plain ole' idiot on December 16, 2008 at 12:58

Skip,
My good buddy. But please correct me if I am wrong. Isn't CHK Chesapeakes stock ticker. Don't take offense brother, I am probably wrong.

Permalink Reply by Skip Peel - Mineral Consultant on December 16, 2008 at 13:03

No, BD. You are correct, good buddy. My typo. I'm just wondering where sj got off to. I was looking forward to his response.

Permalink Reply by BirdDawg, plain ole' idiot on December 16, 2008 at 13:07

Skip,
Don't know, but he knows someone with one bad manner-jammer rig.

Permalink Reply by Skip Peel - Mineral Consultant on December 16, 2008 at 13:11

One of those viagra rigs?

Permalink Reply by BirdDawg, plain ole' idiot on December 16, 2008 at 13:18

Thats a big bad boy.

Permalink Reply by Skip Peel - Mineral Consultant on December 16, 2008 at 13:20

May take several. And a double dose.

Permalink Reply by BirdDawg, plain ole' idiot on December 16, 2008 at 13:21

Took a double dose one time. Everything looked blue. If we see a blue drilling rig, we know who it is. If that rig stays blue (and big) for more than 4 hours, we need to call a drilling consultant.

Permalink Reply by The_Baron on December 16, 2008 at 17:15

According to the Dec. 2008 investor presentation onCHK website...

● #1 driller in U.S.
– ~130 operated rigs currently, on the way down to ~110-115 operated rigs until gas markets
rebalance, ~85 non-operated rigs, ~15 info only rigs; collector of ~12% of all daily drilling
information generated in the U.S. (~20% in our areas of interest)

Not all of these rigs are capable of drilling HA wells though.

Permalink Reply by Spring Branch,mineral owner on December 16, 2008 at 18:40

It's CHk for Chesapeake and HK for Petrohawk Sorry I see this has already been covered!

Permalink Reply by The_Baron on December 13, 2008 at 15:22

Who cares if its HBP. That means you get roylaties.

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