Monday, August 3, 2009

St. Mary: Not Much to Update

St. Mary Exploration, which has 50,000 acres in the Haynesville Shale (40K in TX, 10K in LA) is focusing its efforts in other plays. Much of the company's acreage is in the southern part of the play, around the Shelby/San Augustine County line. The company is doing a vertical test in that area but hasn't published results.

Rather than summarize, I'll quote the company's release:

"St. Mary has chosen to defer activity on most of its operated Haynesville shale acreage other than on wells required to hold acreage. The Company’s second well targeting the Haynesville shale, the USA BL #1 (SM 100% WI) in northern San Augustine County, Texas, is currently waiting on completion pending core and log analysis. The Company expects to complete this vertical well in the Haynesville shale in August 2009. St. Mary then plans to drill a third well, to be located in Shelby County, Texas, targeting the Haynesville shale by the end of the fourth quarter. The Company has also participated in several successful partner-operated Hayneville tests."

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