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Permalink Reply by Spring Branch,mineral owner on May 11, 2009 at 5:24

Exco, clearly improved the frac on the Sharp 1in 18/16 versus Chesapeake's Sharp 7 in 18/15. I think the sections in T19 & 20 are going to be a lot more challenging than T18.

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Permalink Reply by The_Baron on May 11, 2009 at 9:04

I have heard that these wells north of shreveport are producing condensate, which has been causeing problems with the wells. It will be inerseting to see how much condensate is produced, and also what the decline rate in these wells looks like.

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Permalink Reply by SharonB T18N R15W S8 on May 11, 2009 at 11:44

Can you please elaborate on condensate and how that causes problems in the well. Thanks
Do you think CHK will re-frac the Sharp 7 in 18/15?

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Permalink Reply by Checkmateking on May 11, 2009 at 15:17

liquid dissolved in saturated natural gas that comes out of solution when the pressure drops below the dewpoint.

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Permalink Reply by ALongview on May 11, 2009 at 11:56

Why do they list barrels of condensate on the TRRC website right next to gas output?

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Permalink Reply by ALongview on May 11, 2009 at 13:48

Thanks Electrodynamics. What does the byproduct fetch in the market?

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Permalink Reply by Wolverine on May 11, 2009 at 15:50

Thanks Electro for all the explaining!!!

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Permalink Reply by Les Bamburg on May 11, 2009 at 16:10

ALongview, typically condensate sells for the same price of crude oil which is currently above $50 per barrel at the market point. There are some costs associated wih moving the condensate to market such as trucking or pipeline transport costs but these should be fairly small for NWLa.

One of the primary factors impacting condensate yield (Bbl/MMcf) is the "richness" of the produced natural gas. Most of the Haynesville Shale production is very lean natural gas and yields little or no condensate.

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Permalink Reply by ALongview on May 11, 2009 at 16:11

Thanks Les.

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Permalink Reply by Les Bamburg on May 12, 2009 at 16:56

SB, the IP quoted by Goodrich was slightly higher at 2.6 MMcfd and may be reflective of an improvement after the well cleaned up.

http://phx.corporate-ir.net/phoenix.zhtml?c=83169&p=irol-newsAr...

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Permalink Reply by Spring Branch,mineral owner on May 12, 2009 at 18:36

Unfortunately, it is good as in better than nothing. It will produce royalty income for those in your section, but the well is marginal enough such that, without new technology of some sort, they probably won't be doing much more drilling in the area for the time being. I'm pretty sure Goodrich wasn't too pleased with the well.

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Permalink Reply by Les Bamburg on May 12, 2009 at 18:40

Wild Wood, I would say for being Matador's first well in the section and the area of the play it is a good well. Others may disagree since it is not at the same level as some operator's in the heart of the play. Eventually there should be additional wells drilled in your section and those may have even higher rates.

Overall, I would say you have a basis to jump up and down in front of your husband since the well will be generating real money.

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