Headline today: Chesapeake Energy to invest $2B annually in LA.
The Shreveport Times headline story this morning, Saturday, July 25, is interesting. Chesapeake Energy projects it will, until at least 2029, and likely beyond, invest another $2 billion annually in Louisiana.
Quoting the article, "Approximately 10,000 wells will be drilled, coming at a cost of $75 billion, to release 65 trillion cubic feet of natural gas from the play that primarily is in northwest Louisiana."
CEO Aubrey McClendon added that he predicts production from the Haynesville Shale, which covers all or parts of seven parishes and spreads into east Texas, will surpass Texas' Barnett Shale by 2015.
Quoting the story again, "This past year has helped Chesapeake Energy more readily define what are considered the four boundaries of the Haynesville Shale, McClendon said. He busted the hope of anyone in south Arkansas or Monroe who may be holding out hope it will reach there.
Its limits generally are as far west as Marshall, Texas, in Harrison County and perhaps dips into Shelby County. All of DeSoto and Red River parishes are included and it reaches about 10 to 15 miles north of Shreveport-Bossier City."
There's a lot more to the report if anyone wants to read it. The point so reflective of what we talk about at GHS.com was that the H.S. has the potential of producing as much gas in a year as the country consumes in three years - there's no reason for the U.S. to continue importing fuel from unfriendly foreign countries.
Quoting the article, "Approximately 10,000 wells will be drilled, coming at a cost of $75 billion, to release 65 trillion cubic feet of natural gas from the play that primarily is in northwest Louisiana."
CEO Aubrey McClendon added that he predicts production from the Haynesville Shale, which covers all or parts of seven parishes and spreads into east Texas, will surpass Texas' Barnett Shale by 2015.
Quoting the story again, "This past year has helped Chesapeake Energy more readily define what are considered the four boundaries of the Haynesville Shale, McClendon said. He busted the hope of anyone in south Arkansas or Monroe who may be holding out hope it will reach there.
Its limits generally are as far west as Marshall, Texas, in Harrison County and perhaps dips into Shelby County. All of DeSoto and Red River parishes are included and it reaches about 10 to 15 miles north of Shreveport-Bossier City."
There's a lot more to the report if anyone wants to read it. The point so reflective of what we talk about at GHS.com was that the H.S. has the potential of producing as much gas in a year as the country consumes in three years - there's no reason for the U.S. to continue importing fuel from unfriendly foreign countries.
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Replies to This Discussion
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Permalink Reply by Henry on
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Les B,
Mansfield is in 12N, 13W. I don't think any of the hall-of-fame wells are to the SE of Mansfield.
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Permalink Reply by Les Bamburg on -
Henry, I think the key phrases are "starting" and "south and east". Those can be interpreted in many ways and do not necessarily mean only southeast of Mansfield.
"Throughout the Haynesville Shale are "sweet spots," powerful pockets of the natural gas deposit, McClendon said. One exists where Red River and DeSoto parishes come together, starting south and east of Mansfield."
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Permalink Reply by olddog573 on
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Les,
I like your quote. Over the years it's been hell trying to hold onto the family land in that area. Even came close to selling it before the Haynesville broke. Had the appraiser and everything signed up ready to go. Man I'm glad we weren't in a hurry.
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Permalink Reply by Grillin' - MmmMmm on
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Didn't know if anyone had posted this link as well. Jindal and McClendon open the CHK Shreveport office!
http://www.bayoubuzz.com/News/Louisiana/Business/Bobby_Jindal_Opens...
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