Permalink Reply by Skip Peel - Mineral Consultant on Friday Magnetar appears to have a handful of Texas wells but there are many professionals experienced in drilling and completing horizontal wells. Magnetar Capital appears to have the financial ability to hire as many as they may need.
Permalink Reply by Rock Man on Saturday Magnetar Operating may be "new" to many, but this group is doing some big time and very expensive drilling across a wide range of prospects and play types.
I would say that all these permits are tied to conventional reservoirs that are heavily based on seismic interpretation (and this may play into their focus on AI applications in the oilfield as per the Magnetar Capital website).
The attached PDF shows their spread of 12 permits in both Texas and Louisiana (yellow icons) - permitted depths ranging from 10,500' to 19,500'
Presently running 4 rigs.
Permalink Reply by Skip Peel - Mineral Consultant on Saturday Rock Man are the majority of those permits in the area of the Western Haynesville play?
Permalink Reply by Dale Walton on Saturday No, they are all over. Several in SLA, one NLA, one Deep Hackberry in TX and one or more clandestine in the Western Haynesville. Magnetar is run by the old SKH group for anyone old enough to remember them.
Permalink Reply by Skip Peel - Mineral Consultant on Saturday The most concentrated area of the Magnetar wells is due north of College Station. That is the Western Haynesville area. And the area where I suspect the 19,500' permitted depth wells are located. I am not referring to those outside of that concentration.
Permalink Reply by Rock Man on Saturday 19,500' permitted well is South Louisiana - probably $3+ million dry hole cost
Permalink Reply by Rock Man on Saturday The permits in the Western Haynesville area are most likely Cotton Valley Lime Reef tests.
SKH - hard to forget them and their activities!!!
Permalink Reply by Skip Peel - Mineral Consultant on Saturday I do not see a pdf list of permitted locations. Only the map with the well locations.
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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…
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