Wednesday, March 2, 2011

The Oil Rumor

Indulge me, if you will.  Lyrics from the song "Walkin' Home Alone:"
News travels fast in a small desert town
So it wasn't long at all before the word got around
That a killin' mad car was headed their way
So the sheriff and the boys were gonna stop him
Out on the highway
I've always wanted to quote Stan Ridgeway (late of Wall of Voodoo, for those who care) and his dark tale of blindly believing a fast-spreading rumor.  I like to think of myself as above spreading rumors.  That said, however, one of the hottest rumors in east Texas has been that of a big oil find below the Haynesville Shale.  I've written a bit about speculation regarding the prospects for oil in the Smackover formation in Louisiana and southern Arkansas, but I tend to attribute most oil rumors to hearsay and wishful thinking.  But lately I have come to believe that there is a kernel of truth in these rumors.  Geologically it might not make perfect sense, but more than a few industry folks are snooping around in east Texas (and north Louisiana) for signs of oil.  There's smoke...but is there fire?

I've heard several different versions of the oil rumor, but one that seems to have some legs is an oil find in Harrison Co.  Data can be triangulated from a couple of sources, but the rumor I'm going to float is that there is an oil find below the Haynesville layer at the BP leased but Valence-operated Nancy Brewster Gas Unit #8 (permit #702843, API #203-35021).  The well is south of Marshall, just below I-20, near Hwy 43.  It is a vertical well that is permitted to the Haynesville at 10,200' and then to an oil or gas Wildcat layer at 12,800' (W-1 here; map here).  A source says that the well has produced oil but that there is no pipeline activity so far.  A lot of tank trucks headed up Hwy 43 would be a sure-fire indication that something is going on.


I may be totally wrong about this, but the Washington Post, this ain't, so what do I have to lose?  (Although I suddenly fear an angry late night call from Ben Bradlee.)  I'd love to hear what anyone else out there has to say.  If this is true, it could be good news for people in the Harrison Co. area who find themselves outside the core areas of the Haynesville Shale.  Feel free to email me directly at haynesvilleplay (at) gmail.com if you don't feel comfortable posting a comment.  I'm good at maintaining secrets and keeping sources anonymous.

3 comments:

Anonymous said...

Lots of rumors on this well. Everyone is talking about it.

Anonymous said...

Just got my division papers for NB #8

Robert Hutchinson said...

Anything more than the typical boilerplate in the division order???