Replies to This Discussion

Permalink Reply by Two Dogs, Pirate on July 20, 2008 at 9:11

Somewhere in this play oil will be found in large ammounts. Whoever finds the oil and has a big leasehold interest in the area, most likely will be taken over.

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Permalink Reply by ChelleA1 on July 20, 2008 at 9:22

We have oil and it's never been discussed on here glad to see that come up I'll be following this one........To verify we have been told we are sitting ontop of a 200+ acre oil lake and I have thought all along something is'nt right with leasing mineral rights for gas and they are pulling crude sweet oil and gas........for one lease even if that's the idea why let them have so much product for so little $$$ ? That's alot of oil....

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Permalink Reply by DrWAVeSport Cd1 on July 20, 2008 at 9:19

Ray,

Makes a whole lot of good sense for Big Oil. Who has the Billions in Cash to spend/invest? Big Oil! Who would like to "hold hands" with the NG companies together in the Haynesville? Big Oil! Who needs to go "greener" per our future energy economic benefit/independence? Big Oil!

ONE EXCEPTION HERE: Who did the most impressive "lease-flip" of all time? CHK! And...Mr. Chesapeake can't wait for Big Oil to call and leave a message/offer for a colossal "Haynesville Style" flip!!!! (Not rumor...speculation)

DrWAVeSportV

I hope they ALL show up for this play. MORE COMPETITION!

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Permalink Reply by Les Bamburg on July 20, 2008 at 14:42

DWS, the "Big Gas & Oil" companies have been investing billions in natural gas for decades in places like Indonesia, Malaysia, Nigeria, Qatar, Australia and the North Sea. Why do you think Exxon wanted to merge with Mobil. It certainly wasn't for their oil reserves.

By the way, most large international G&O's will not want to hold hands with the independents since the corporate cultures are so different.

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Permalink Reply by DrWAVeSport Cd1 on July 20, 2008 at 15:42

Les B,

Respectfully...That is Bull! Money and growth potential are good to go anywhere in the U.S. , no strife, no foreign government to deal with, no "Mexican" governmental overtaking of the industry, etc., etc., etc.

The O&G birds are coming home to roost! Our government will NEVER nationalize O&G the way the Mexican Gov. and other Governments have done!!!!! O&G is much safer doing business in the Good Ole U.S.A.

ExxonMobil does not want to merge with ExxonMobil... But the Oil Companies want a piece of the "Haynesville Shale Pie" and that means deals with NG Companies...not other Oil Companies.

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Permalink Reply by easttexas12 on July 20, 2008 at 9:20

Exxon has been drilling between Mt. Enterprise Tx and Cushing Tx (S. Rusk county/N. Nacogdoches county) for months. They're not there for nickles and dimes Im sure : )

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Permalink Reply by Two Dogs, Pirate on July 20, 2008 at 9:53

I heard a rumer about Exxon re-entering a well drilled by EOG back in 04 and 05. The well went down to 8830 ft and is listed as a future SWD well. This well is West of Fisher in Sabine Parish. Later I heard it was Shell. The well is Olympic Minerals #22 SN229649.

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Permalink Reply by JW on July 20, 2008 at 14:40

Has a permit been issued on this workover? I don't see where any permits have been issued for this. I have heard that the two Shell drilling rigs in the area are being redeployed to Desoto Parish to drill the Harris and Laffitte wells. I was really hoping that they would keep coming further South. I appreciate the information.

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Permalink Reply by easttexas12 on July 20, 2008 at 14:17

Kilgore News - OIL & GASJun 4, 2006 ... Exxon Mobil Corp. has completed three new wells in the Trawick Field. ... The Rusk County Airport Gas Unit 1 Well No.13 has been completed ...
www.kilgorenewsherald.com/news/2006/0604/Business

Exxon likes s. rusk county & n. nacodoches counties, they know something you have to assume??

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Permalink Reply by Les Bamburg on July 20, 2008 at 14:35

Ray, "Big Oil" has been in the natural gas business since about the 1930's. You may want to read up on the North Field in Qatar which is the largest gas field in the world.

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Permalink Reply by ledlights on July 20, 2008 at 17:44

Aren't the independents given a fair amount of credit for figuring out how to extract gas from the shale plays more efficiently? Now that they know it can done and what potential for plays like the Haynesville is looking like, it has got Big O&G's attention. Also, the resources necessary to fully exploit the Haynesville are looking quite large. Shell is partnering with Encana. Exxon has been in East Texas for quite some time, but I imagine it is starting to focus more on the Haynesville now.

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Permalink Reply by Les Bamburg on July 20, 2008 at 18:08

The independents led by Devon, Chesapeake, XTO, EnCana etc are the leaders in producing natural gas from non-conventional plays such as shale gas, coalbed methane and tight sands. My comment was driven by the reference to "Big Oil" coming into the natural gas business as though these companies only produce oil. I was simply highlighting these companies have always been natural gas producers also.

In fact the technology lead and efficiency of these independents makes it very difficult for the international O&G companies to compete in places such as the Haynesville Shale. Shell likely partnered with EnCana to leverage off their experience from the Barnett Shale. ExxonMobil's involvement in East Texas dates back to Humble Oil but they have essentially no experience in shale gas plays.

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