Tuesday, November 3, 2009

Go Devon, Go Devon!

Devon Energy, which is one of the single largest leaseholders in the Haynesville Shale with 570,000 net acres, announced that its Kardell Gas Unit #1H well in San Augustine Co., TX had a peak 24 hour initial production rate of 30.7 MMcf/day on a 37/64" choke at 6,824 psi.

Devon proclaimed it the highest IP recorded in the play to date. Given the fairly wide choke, other producers might quibble with this claim (which is sort of meaningless), but it is certainly the biggest Haynesville well in Texas. Devon owns a 48% working interest in the well, while Crimson Energy owns 52%.

Devon has a long history in the Carthage area, where it has drilled 1,800 wells, including eight horizontal Haynesville wells. This recent success in San Augustine Co. seems to have lit a fire under Devon, which has leases on 47,000 acres in the southern part of the Haynesville Play in San Augustine and Sabine counties (TX) and Sabine Parish (LA), land which likely is prospective for the Mid-Bossier Shale as well. The company is planning to run five rigs in the Haynesville Shale in 2010.

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