Monday, August 9, 2010

Lots of New Texas Completions

Completions:

  • Timmins Gas Unit #3 HR, Penn Virgina Corp.:  8.975 MMcf/day IP, 28/64" choke; North Carthage Field (Bossier Shale), Harrison Co.
  • Fults Gas Unit #2 H, Penn Virgina Corp.:  14.85 MMcf/day IP, 28/64" choke; Carthage Field (Haynesville Shale), Harrison Co.
  • Baldwin #14 H, GMX Resources:  7.552 MMcf/day IP, 28/64" choke; North Carthage Field (Bossier Shale), Harrison Co.
  • Verhalen E #1 H, GMX Resources:  6.429 MMcf/day IP, 16/64" choke; North Carthage Field (Bossier Shale), Harrison Co.
  • Bell #5 H, GMX Resources:  6.459 MMcf/day IP, 13/64" choke; North Carthage Field (Bossier Shale), Harrison Co.
  • Hendry Gas #1 H, Penn Virginia Corp.:  2.292 MMcf/day IP, 12/64" choke; Carthage Field (Haynesville Shale), Harrison Co.
  • Silver Hammer #1 H, Samson Lone Star:  12.26 MMcf/day IP, 18/64" choke; Carthage Field (Haynesville Shale), Nacogdoches Co.
  • Cargill #1, Valence Operating:  0.747 MMcf/day IP, 10/64" choke; North Carthage Field (Bossier Shale), Nacogdoches Co. (vertical)
  • Holcombe #10 H, XTO Energy:  9.103 MMcf/day IP, 19/64" choke; Carthage Field (Haynesville Shale), Panola Co.
  • J. Sublett GU #1 H, Devon Energy:  6.2 MMcf/day IP, Adj./64" choke; Carthage Field (Haynesville Shale), San Augustine Co.
  • Red Raiders DU #1 H, XTO Energy:  4.694 MMcf/day IP, 13/64" choke; Carthage Field (Haynesville Shale), Shelby Co.

Development Activity:
  • Shaw #9 H, GMX Resources; Carthage Field (Haynesville Shale), Harrison Co.
  • Mary Waldron GU #2 H, NFR Energy; Carthage Field (Haynesville Shale), Harrison Co.
  • Lauren Alston #2 H, EOG Resources; Carthage Field (Haynesville Shale), Nacogdoches Co.
  • Cameron Minerals #1 H, Exco Operating; Carthage Field (Haynesville Shale), Nacogdoches Co.
  • Wiener Estate "C" #2, Classic Operating; Carthage Field (Haynesville Shale), Panola Co.
  • New Horizons  #Q 1 H, XTO Energy; Carthage Field (Haynesville Shale), Panola Co.
  • New Horizons  #W 1 H, XTO Energy; Carthage Field (Haynesville Shale), Panola Co.
  • Black Knights #1 H, XTO Energy; Carthage Field (Haynesville Shale), San Augustine Co.
  • Blount McFadden #1 H, Devon Energy; Carthage Field (Haynesville Shale), San Augustine Co.
  • R. Dean #2 H, Goodrich; Carthage Field (Haynesville Shale), Shelby Co.
  • Don Wheeler Gas Unit #1 H, Devon Energy; Carthage Field (Haynesville Shale), Shelby Co.

2 comments:

PAPA ROACH said...

Cargill #1, Valence Operating: 0.747 MMcf/day IP, 10/64" choke; North Carthage Field (Bossier Shale), Nacogdoches Co. (vertical)

Interesting, could be a good economic strategy to HBP acreage, without having the big flush gas in a lower price environment.

However, looking at what winter is looking like (warm based on la nina analogs and also warm winters after hot summer analogs, the gas-on-gas competition that is likely in Q1 2011, gas price environment is likely to be extremely low for at lest the first half of next year. So it may be some time before the curve will ascend enough to pay these guys off. I think we could see the lowest prices on NYMEX sometime in Q1 that we see the rest of our lifetimes.

Robert Hutchinson said...

You know, it is kind of scary being on the outside looking in when it comes to the pricing market. Expectations are always "built in" but who knows whose expectations they are or what they are. We've had the coldest winter and possibly the warmest summer in memory, but all it has done is keep prices from going to zero. In past years, gas prices would be at $10/MMBtu.

Clearly supply is the overhanging fear. If the weather stops cooperating and the floor collapses, it will get scary again. Buuuuut, the producers won't keep drilling at a loss this year. I think producers will cut back production and exploration to keep supply in check and keep prices from bottoming out.

But the big question is when will we see upside in natural gas prices? I don't see any catalysts in the near future without passage of climate legislation that puts the hurt on coal. I think T. Boone Pickens' efforts to generate more interest in natural gas vehicles will be relatively successful, but it won't move the needle a whole lot. Only shifting market share from coal to gas in power generation will truly create pricing upside for gas. Even then, pricing upside will be capped. But it's a move in the right direction.