ConocoPhillips (NYSE:COP) has placed on the market its entire 234K-acre holding in Louisiana's Austin Chalk play, only a year and a half after first unveiling its stake, Upstream reports.
COP COO Matt Fox discussed the disappointing results in July, pointing to oil rates of just 100 bbl/day. "It's just unlikely to be enough to justify a development in that part of the play."
Three out of COP's four test wells so far in Louisiana have produced more than 90% water and not enough oil to justify big investments, Fox said.
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Permalink Reply by Lisa Melder-Johnson on Skip, where is their play acres located? Hopefully not Rapides Parish area. Is it not mostly Marathon/Southwind in Rapides which is generally the same as the new 3D CGG Survey.
Permalink Reply by Skip Peel - Mineral Consultant on Lisa, I do not have an acreage map handy. I suggest that you first go to the company's website and look through the presentations for the appropriate time frame. There is likely one on here but that might take longer looking through multiple discussion threads. Here is a link to get you started. If you find it, please post a direct link for others.
http://www.conocophillips.com/investor-relations/investor-presentat...
Permalink Reply by Lisa Melder-Johnson on This is the only one that I found which came from Amelia's website.
Permalink Reply by John Matherne on Austin Chalk 3.0 refund applied for.
Permalink Reply by Skip Peel - Mineral Consultant on Compliments of jay. You are in the clear Lisa.
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…
ContinuePosted by Char on May 29, 2025 at 14:42
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