Wednesday, November 26, 2014

U.S. Rig Count: -12 to 1,917

The Baker Hughes U.S. rig count was down 12 rigs this week to 1,917.  Oil rigs were down two to 1,572, gas rigs were down 11 to 344 and miscellaneous rigs were up one to one.  By type, horizontal rigs were down one to 1,371, vertical rigs were unchanged at 352 and directional rigs were down 11 to 194.

EIA: Gas in Storage -162 Bcf to 3.432 Tcf

The unseasonably cold weather last week led to a massive storage withdrawal, as the EIA reported this morning that working gas in storage was down 162 Bcf to 3.432 Tcf.  By comparison, this week last year saw a 17 Bcf withdrawal, and the five year average was only down 6 Bcf.  The current storage level is now 9.2% below last week (3.778 Tcf, a difference of 346 Bcf) and 10.4% below the five year average (3.832 Tcf, a difference of 400 Bcf).

Monday, November 24, 2014

Haynesville Shale Rig Count Unchanged at 22

The Haynesville Shale rig count was unchanged at 22.  Louisiana was down one to 16, while Texas was up one to six.  Anadarko moved a rig from LA to TX and added another one in TX, while XTO dropped one.  Also, I've been doing a better job of keeping the rig map current, and you can compare current rig locations against those from the past three weeks and - just for fun or agony - against the peak rig count from July 2010.


Friday, November 21, 2014

U.S. Rig Count: +1 to 1,929

Baker Hughes (how much longer will we be able to say that?) reported today that its U.S. rig count was up one to 1,929.  Oil rigs were down four to 1,574 and gas rigs were up five to 355.  By type, horizontal rigs were up three to 1,372, vertical rigs were down two to 352 and directional rigs were unchanged at 205.  Among gas rigs, horizontal rigs were up three to 264, directional rigs were up one to 60 and vertical rigs were up one to 31.

New Texas Permits

10/20/14 - 11/20/14:
  • Soape, A.C. Gas Unit Allocation #17H, BP America; Carthage Field (Haynesville Shale), Panola Co. Co., Survey: OWEN, J, A-522 
  • Amazon #1H, XTO Energy; Carthage Field (Haynesville Shale), Shelby Co. Co., Survey: HOLMES, S, A-287 

Thursday, November 20, 2014

New Texas Completions

10/20/14 - 11/19/14:
  • York SU #2HB, EXCO Operating: 9.539 MMcf/day IP, 15/64" choke, 9,438 psi; Perfs: 13,206-18,146, length: 4,940 ft.; Carthage Field (Haynesville Shale), San Augustine Co., Survey: WOOD, C , A-310 
  • Redhawks (SL) DU #B1SL, XTO Energy: 10.407 MMcf/day IP, 19/64" choke, 7,165 psi; Perfs: 12,520-19,135, length: 6,615 ft.; Carthage Field (Haynesville Shale), Shelby Co., Survey: HARRISON, J, A-306 

EIA: Gas in Storage -17 Bcf to 3.594

So long to the injection season:  net storage withrawals from storage have begun.  The EIA announced this morning that working gas in storage was down 17 Bcf to 3.594 Tcf.  The weekly withdrawal was half of last year's (-36 Bcf) but 7 Bcf higher than the five year average (-10 Bcf).  The current storage level is now 5.3% below last year (3.795 Tcf, a difference of 201 Bcf) and 6.4% below the five year average (3.838 Tcf, a difference of 244 Bcf).


Tuesday, November 18, 2014

A Couple of New Louisiana Completions

  • Brown 17 #5, Petrohawk Operating: 8.976 MMcf/day IP on 16/64 in. choke at 7,018 psi; Perfs: 11,393-15,847, length: 4,454 ft.; Elm Grove Field, Bossier Parish, S17/T16/R11; res. A, serial #247799 
  • QP 3+10-12-12 HC #1, Chesapeake Operating: 8.821 MMcf/day IP on 20/64 in. choke at 7,415 psi; Perfs: 12,156-17,149, length: 4,993 ft.; Red River-Bull Bayou Field, DeSoto Parish, S34/T13/R12; res. A, serial #248044

Haynesville Shale Rig Count Unchanged at 22

Last week's Haynesville Shale rig count was unchanged at 22.  Louisiana held at 17, while Texas held at five.


Friday, November 14, 2014

U.S. Rig Count: +3 to 1,928

The Baker Hughes (how long will we be able to say that if Halliburton buys BHI???) U.S. rig count was up three this week to 1,928.  Oil rigs were up 10 to 1,578, gas rigs were down six to 350 and miscellaneous rigs were down one to zero.  By type, horizontal rigs were up seven to 1,369, vertical rigs were down six to 354 and directional rigs were up two to 205.  Among gas rigs, horizontal rigs were down two to 261, directional rigs were down five to 59 and vertical rigs were up one to 30.

EIA: Gas in Storage +40 Bcf to 3.611 Tcf

It's hard to believe, sitting here bundled up with my wool socks on, that working gas in storage is still going up, but I'm reminded that I was wearing shorts last week and that's the time period for this week's EIA's weekly report.  This morning's report showed a 40 Bcf increase to 3.611 Tcf.  The weekly injection was 82% greater than last year (+22 Bcf) and 2.5 times greater than the five year average (+16 Bcf).  The current storage level is now 5.7% below last year (3.831 Tcf, a difference of 220 Bcf) and 6.2% below the five year average (3.848 Tcf, a difference of 237 Bcf).


Tuesday, November 11, 2014

Haynesville Shale Rig Count: -2 to 22

The Haynesville Shale rig count was down again this week, dropping two to 22.  Louisiana was down two (J-W moved its last Haynesville rig to Cotton Valley, and EXCO), while Texas was unchanged at five.


Friday, November 7, 2014

U.S. Rig Count: -4 to 1,925

The Baker Hughes U.S. rig count was down by four this week to 1,925.  Oil rigs were down 14 to 1,568, gas rigs were up 10 to 356 and miscellaneous rigs held at one.  Over the past two weeks, gas rigs have jumped by 24.  By type, horizontal rigs were up nine to 1,362, vertical rigs were down five to 360 and directional rigs were down eight to 203.

Matador Updates South Caddo Progress

In its third quarter earnings report, Matador Resources devoted a fair amount of ink to update drilling and production on property it has leased in the southern part of Caddo Parish.  Chesapeake is the operator of the wells, but Matador has a significant ownership percentage.  I've excerpted the text from Matador's update, but the highlights are as follows:  1) CHK has a plan to drill 45 wells in the Elm Grove field through 2016, 2) it is operating three rigs in this cause and 3) as of November 5 nine of the wells are producing and the completed wells are averaging 8 to 12 MMcf/day.  

Here is the full text:

Thursday, November 6, 2014

EIA: Gas in Storage +91 Bcf to 3.571 Tcf

Natural gas keeps roaring into storage, as evidenced by a 91 Bcf weekly injection, bringing the EIA working gas in storage to 3.571 Tcf.  The injection was 2.6 times greater than last year (+35 Bcf) and 2.2 times greater than the five year average (+42 Bcf).  The current storage level is now 6.2% below last year (3.809 Tcf, a difference of 238 Bcf) and 6.8% below the five year average (3.832 Tcf, a difference of 261 Bcf).


As the deviation between the current year and the five year average continues to narrow, the picture looks more and more like a mirror image of 2012 when gas in storage was way above average and narrowed towards the end of the year:

Tuesday, November 4, 2014

Haynesville Shale Rig Count: -1 to 24

The Haynesville Shale rig count was down one last week to 24.  Louisiana was down one to 19 (J-W Operating shifted one from Haynesville to Cotton Valley) whileTexas held at five.