Saturday, April 25, 2009

El Paso: Update

El Paso Corporation is another quiet Haynesville Shale player. This may be because the company places a greater emphasis on its midstream operations, which are especially attractive given their size and scope.

The company is not terribly forthcoming about its Haynesville activities at this point. In 2009, it plans to dedicate 35% of its $0.9 to $1.3 billion drilling program, or between $315 and $455 million, to its north Louisiana properties. In the Haynesville Play, El Paso is operating in the Holly, Bethany-Longstreet and Logansport fields. They have engaged in some Haynesville drilling, but they have not publicized the results.

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