Thursday, December 31, 2015

EIA: Gas in Storage -58 Bcf to 3.756 Tcf

The EIA reported this morning that working gas in storage was down 58 Bcf to 3.756 Tcf.  The weekly withdrawal was double last year's (-29 Bcf), but 39% lower than the five year average (-95 Bcf).  The current storage level is now 16.5% above last year (3.224 Tcf, a difference of 532 Bcf) and 13.5% larger than the five year average (3.308 Tcf, a difference of 448 Bcf).


It's Been a Gas...

As of the end of this year, I'm going to suspend active publication of haynesvilleplay.com.  Over the next few weeks (months?), I'll bring all of the stray completions, permits and rig counts current to 12/31/15 but will stop updating these on a regular basis.  The site will remain up and my email (haynesvilleplay <at> gmail <dot> com) will be active if anyone wants to check in.  I'm not going anywhere - I just won't be as visible.

It's not for a lack of interest but rather a lack of time that I have to move on. Other projects have overtaken my attention, as I'm sure regular readers have noticed.  Over the past seven and a half years, I've thoroughly enjoyed writing about the Haynesville Shale.  I've learned a lot and have met some interesting people (at least virtually).  I probably will post occasionally - I'm going to stay abreast of the market - but I just won't be publishing with any regularity and I'll leave stats maintenance to others.

A happy and prosperous new year to all and may things turn around for natural gas in the coming year(s).

Monday, December 28, 2015

EIA: Gas in Storage -32 Bcf to 3.814

Another warm week, another crappy storage report.  The EIA announced last week that working gas in storage was down only 32 Bcf to 3.814 Tcf.  The angle of the red line foreshadows a bad year coming (unless the Polar Vortex drops in for a visit)...


The weekly withdrawal was 38% below last year (-52 Bcf) and 74% lower than the five year average (-121 Bcf).  The current storage level is now 17.2% below last year (3.253 Tcf, a difference of 561 Bcf) and 12.1% below the five year average (3.403 Tcf, a difference of 411 Bcf).

Wednesday, December 23, 2015

U.S. Rig Count: -9 to 700

This week's Baker Hughes U.S. rig count was down nine to 700.  Oil rigs were down three to 538 and gas rigs were down six to 162.  Since I neglected to post last week, I'll let you know that over the past two weeks, oil rigs were up 14 while gas rigs were down a whopping 23.  By type, horizontal rigs were down five last week to 554 (unchanged over two weeks), vertical rigs were down one to 86 (down five over two weeks) and directional rigs were down three to 60 (down four over two weeks).


Friday, December 18, 2015

Last Week's U.S. Rig Count: -28 to 709

Since this week's U.S. rig count comes out in a few hours, I figured I'd finally get last week's up.  The BHI U.S. rig count was down 28 to 709.  Oil rigs were down 21 to 524 and gas rigs were down seven to 185.  By type, horizontal rigs were down 15 to 554, vertical rigs were down 13 to 91 and directional rigs were unchanged at 64.  I'll post the chart this afternoon with a new batch of rig count numbers.

Thursday, December 17, 2015

Jack Frost, Where Did You Go? EIA: Storage -34 Bcf to 3.846

EIA reported that working gas in storage was down only 34 Bcf last week to 3.846 Tcf.  The light withdrawal is not a great surprise to weather watchers.  The upcoming green Christmas week should continue to put pressure on gas prices for weeks (months? years?) to come.  The withdrawal last week was 44% lower than last year (-61 Bcf) and 72% below the five year average (-120 Bcf).  The current storage level is now 16.4% higher than last year (3.305 Tcf, a difference of 541 Bcf) and 9.1% above the five year average (3.524 Tcf, a difference of 322 Bcf).


Thursday, December 10, 2015

EIA: Gas in Storage -76 Bcf to 3.88 Tcf

The EIA reported this morning that working gas in storage was down 76 Bcf to 3.88 Tcf.  The weekly withdrawal was 62% greater than last year (-47 Bcf) and 17% higher than the five year average (-65 Bcf).  The current storage level is now 15.3% higher than last year (3.366 Tcf, a difference of 514 Bcf) and 6.5% above the five year average (3.644 Tcf, a difference of 236 Bcf).


Friday, December 4, 2015

U.S. Rig Count: -7 to 737

The Baker Hughes U.S. rig count was down seven this week to 737.  Oil rigs were down 10 to 545 and gas rigs were up three to 192.  By type, horizontal rigs were unchanged at 569, vertical rigs were down five to 104 and directional rigs were down two to 64.  Among gas rigs, horizontal rigs were up three to 143, while directional and vertical rigs were unchanged at 26 and 23, respectively.

Thursday, December 3, 2015

EIA: Gas in Storage -53 Bcf to 3.956 Tcf

Finally!  The EIA announced this morning that working gas in storage was down 53 Bcf to 3.956 Tcf.  The first withdrawal of the season was 26% greater than last year (-42 Bcf) and 10% larger than the five year average (-48 Bcf).  The current storage level is now 15.9% above last year (3.413 Tcf, a difference of 543 Bcf) and 6.7% higher than the five year average (3.709 Tcf, a difference of 247 Bcf).


Now that the storage injection season is over, it's time to reflect on the big picture.  Storage reached a record 4.009 Tcf, by far the highest level in history.  Getting down to 1.5 Tcf at the end of the injection season is likely impossible without a new ice age commencing in the next two weeks.  Unfortunately, 2.0 Tcf - which entails a 2.0 Tcf withdrawal - seems like a stretch too, especially with a warm winter predicted.

Saturday, November 28, 2015

U.S. Rig Count: -13 to 744

The Baker Hughes U.S. rig count was down 13 this week to 744.  Given current commodity prices, expect this trend to continue.  Oil rigs were down nine to 555 and gas rigs were down four to 189.  By type, horizontal rigs were down 12 to 569, vertical rigs were up two to 109 and directional rigs were down three to 66.  Among gas rigs, horizontal rigs were down five to 140, directional rigs were down three to 26 and vertical rigs were up four to 23.

Yipes! EIA: Gas in Storage +9 Bcf to 4.009 Tcf

The EIA reported Wednesday that working gas in storage was up 9 Bcf to a new record high 4.009 Tcf.  The weekly injection 141 Bcf (!!!) greater than the same week last year's withdrawal and 36 Bcf higher than the five year average withdrawal.  The current storage level is now 16.0% higher than last year (3.455 Tcf, a difference of 554 Bcf) and 6.7% above the five year average (3.757 Tcf, a difference of 252 Bcf).


Tuesday, November 24, 2015

2014 U.S. Natural Gas Proved Reserves Up 9.8% to 388.8 Tcf

The EIA announced its annual assessment of proved reserves of oil and gas in the U.S. for year end 2014  It concluded that proved natural gas reserves had increased 34.8 Tcf to 338.8 Tcf, an increase of 9.8%.  The Haynesville Shale is the fifth largest natural gas field (using 2013 PR numbers), while the Marcellus Shale is the largest.  With proved reserve increases, West Virginia became the fourth largest state in terms of proved reserves this year, surpassed only by Texas, Pennsylvania and Oklahoma).

A 10% increase in proved reserves seems high given the low price of gas, but it is likely a nod to technological advances and improved understanding of how to tap gas from existing fields.  This has become evident in the Haynesville as companies have fine tuned their production approach to greatly increase expected ultimate recoveries.  The official definition of proved reserves:
"Proved reserves are estimated volumes of hydrocarbon resources that analysis of geologic and engineering data demonstrates with reasonable certainty are recoverable under existing economic and operating conditions. Reserves estimates change from year to year as new discoveries are made, as existing fields are more thoroughly appraised, as existing reserves are produced, and as prices and technologies change."

Friday, November 20, 2015

U.S. Rig Count: -10 to 757

The Baker Hughes U.S. rig count was down 10 this week to 757.  Oil rigs were down ten to 564, while gas rigs were unchanged at 193.  By type, horizontal rigs were down six to 581, vertical rigs were down one to 107 and directional rigs were down three to 69.  Among gas rigs, horizontal rigs were up two to 145, directional rigs were down two to 29 and vertical rigs were unchanged at 19.

Thursday, November 19, 2015

EIA: Gas in Storage +15 Bcf to 4.000 Tcf

Boom!  The EIA reported this morning that working gas in storage was up 15 Bcf to another new record high of 4.0 Tcf.  The weekly injection was 24 Bcf higher than last year (-9 Bcf) and 27 Bcf higher than the five year average (-12 Bcf).  The current storage level is now 11.2% above last year (3.596, a difference of 404 Bcf) and 5.5% higher than the five year average (3.793 Tcf, a difference of 207 Bcf).


This week's report proves, yet again, that I'm not much of a prognosticator.  I thought storage wouldn't hit 4 Tcf.  Powered by wishful thinking, I stuck to my guns last week in the face of a higher than expected injection.  In any case, save the coming of a new ice age, pressure on storage at the end of injection season looks to be the norm for years to come.  With El Nino still in place, it looks to be a long winter for natural gas.  Maybe I should make a strong negative prediction - I'm not exactly on a winning streak these days...

Friday, November 13, 2015

U.S. Rig Count: -4 to 767

The Baker Hughes U.S. rig count was down four this week to 767.  Oil rigs were up two to 574, while gas rigs were down six to 193.  By type, horizontal rigs were up two to 587, vertical rigs were up three to 108 and directional rigs were down nine to 72.  Among gas rigs, horizontal rigs were down two to 143, directional rigs were down three to 31 and vertical rigs were down one to 19.

EIA: Gas in Storage +49 Bcf to 3.978 Tcf

Oh, El Nino!  A new record high:  the EIA reported this morning that working gas in storage was up 49 Bcf to 3.978 Tcf.  It looks to be raging towards 4 Tcf, endangering my fateful prediction from last week that it would not break through the mystical 4.  But I'm going to stick with last week's prediction.

The weekly injection was 4% higher than last year (+47 Bcf) but more than double the five year average (+23 Bcf).  The current storage level is now 10.3% higher than last year (3.605 Tcf, a difference of 373 Bcf) and 4.5% above the five year average (3.805 Tcf, a difference of 373 Bcf).


Tuesday, November 10, 2015

U.S. Rig Count: -4 to 771

The Baker Hughes U.S. rig count was down four last week to 771.  Oil rigs were down six to 572 and gas rigs were up two to 199.  By type, horizontal rigs were up eight to 585, vertical rigs were down seven to 105 and directional rigs were down five to 81.  Among gas rigs, horizontal rigs were down one to 145, directional rigs were unchanged at 34 and vertical rigs were up three to 20.

Thursday, November 5, 2015

EIA: Gas in Storage +52 Bcf to 3.929 Tcf

The EIA announced this morning that working gas in storage was up 52 Bcf to 3.929 Tcf.  The weekly injection was 42% lower than last year (a huge +90 Bcf) and 10% below the five year average (+58  Bcf).  The current storage level is now 10.4% above last year (3.558 Tcf, a difference of 371 Bcf) and 3.9% higher than the five year average (3.782 Tcf).


If this year's injection (red line) follows last year's trend (dark blue line), storage will scrape and maybe even cross the 4 Tcf level, which would be a first.  Over the past seven years, the first withdrawal of the season occurred anywhere from the first week of November (once) to the first week of December (also once).  The average is around the third week, but heating demands will start to level off the net injections and the red line should start to flatten before turning downward.  Don't wager on my input, but I don't expect storage to cross the 4 Tcf line this year.  (Hopefully not my famous last words.)

Friday, October 30, 2015

EXCO Q3 Report

As you can probably tell from my spotty posting performance over the past month (or six), I've gotten busy with other projects.  I've let a lot of Haynesville material slip between the cracks (or pile up on my desk and computer).  Instead of stockpiling it and waiting for time to make thoughtful comments on the material, I'm going to try to just put it out there without embellishment and force you, my faithful readers, do all the work.  Sorry!

In that spirit, here is the link to the recent EXCO quarterly slides.  There's lots of good stuff about the Haynesville Shale.

U.S. Rig Count: -12 to 775

The Baker Hughes U.S. rig count was down 12 this week to 775.  Oil rigs were down 16 to 578 and gas rigs were up four to 197.  By type, horizontal rigs were down 14 to 577, vertical rigs were up three to 112 and directional rigs were down one to 86.  Among gas rigs, horizontal rigs were up three to 146, directional rigs were down one to 34 and vertical rigs were up two to 17.


EIA: Gas in Storage +63 Bcf to 3.877 Tcf

As we close in on the end of the injection season, the EIA reported yesterday that working gas in storage was up 63 Bcf to 3.877 Tcf.  The net injection was actually 28% lower than last year (+88 Bcf) and 14% below the five year average (+73 Bcf).  The current storage level is now 11.8% above last year (3.468, a difference of 409 Bcf) and 4.1% higher than the five year average (3.724 Tcf, a difference of 153 Bcf).


Thursday, October 22, 2015

EIA: Gas in Storage +81 Bcf to 3.814 Tcf

The EIA announced this morning that working gas in storage was up 81 Bcf to 3.814 Tcf.  The weekly injection was 14% below last year (+94 Bcf) and 6% smaller than the five year average (+86 Bcf).  The current storage level is now 12.8% higher than last year (3.38 Tcf, a difference of 434 Bcf) and 4.5% above the five year average (3.651 Tcf, a difference of 163 Bcf).


Thursday, October 15, 2015

EIA: Gas in Storage +100 bcf to 3.733 Tcf

The EIA announced this morning that working gas in storage was up 100 Bcf to 3.733 Tcf. The weekly injection was 4% above last year (+96 Bcf) and 15% higher than the five year average (+87 Bcf). The current storage level is now 13.6% above last year (3.286 Tcf, a difference of 447 Bcf) and 4.7% above the five year average (3.565 Tcf, a difference of 168 Bcf).


Monday, October 12, 2015

Haynesville Rig Count: +2 to 18

Suddenly, the action shifts to Red River Parish!  Last week the Haynesville Shale rig count was up two to 18.  Louisiana was up two to 13, while Texas was unchanged at five.  In Louisiana, Vine Oil & Gas was up from two to four rigs, all in Red River Parish, which now sports a grand total of five rigs (up from one last week), the highest count in the Haynesville Shale.  This is exciting  news because there is not really much excitement in the play, so sometimes we have to make our own fun!


Friday, October 9, 2015

U.S. Rig Count: -14 to 795

The Baker Hughes U.S. rig count was down 14 rigs this week to 795, the lowest level since May 2002.  Oil rigs were down nine to 605, gas rigs were down six to 189 and miscellaneous rigs were up one to one.  By type, horizontal rigs were down 11 to 598, vertical rigs were down three to 114 and directional rigs were unchanged at 83.  Among gas rigs, horizontal rigs were down four to 143, directional rigs were down two to 32 and vertical rigs were unchanged at 14.

Thursday, October 8, 2015

EIA: Gas in Storage +95 Bcf to 3.633 Tcf

It's the same old story:  the weekly gas injection is a little below the same week last year but a little above the five year average.  The EIA reported this morning that working gas in storage last week was up 95 Bcf to 3.633 Tcf.  The weekly injection was 10% below last year (+106 Bcf) but 3% above the five year average (+92 Bcf).  The current storage level is now 13.9% lower than last year (3.19 Tcf, a difference of 443 Bcf) but 4.5% higher than the five year average (3.478 Tcf, a difference of 155 Bcf).


Tuesday, October 6, 2015

Haynesville Shale Rig Count: -1 to 16

The Haynesville Shale rig count dropped again last week, losing one rig to end the week at 16.  Louisiana was down one (Chesapeake) to 11, while Texas held at five.


Friday, October 2, 2015

U.S. Rig Count: -29 to 809

The U.S. rig count was down 29 this week to 809, as oil rigs dropped 26 to 614, gas rigs were down two to 195 and miscellaneous rigs were down one to zero.  By type, horizontal rigs were down 20 to 609, vertical rigs were down six to 117 and directional rigs were down three to 83.  Among gas rigs, horizontal rigs were up three to 147, vertical rigs were down five to 14 and directional rigs were unchanged at 34.

Thursday, October 1, 2015

EIA: Gas in Storage +98 Bcf to 3.538 Tcf

The EIA reported this morning that working gas in storage was up 98 Bcf to 3.538 Tcf.  The weekly injection was 11% lower than last year (+110 Bcf) but 4% above the five year average (+94 Bcf).  The current storage level is now 14.7% higher than last year (3.084 Tcf, a difference of 454 Bcf) and 4.5% above the five year average (3.386 Tcf, a difference of 152 Bcf).


Monday, September 28, 2015

New Texas Permits

8/28/15 - 9/27/15:
  • Thoroughbreds DU #H 1, XTO Energy; Carthage Field (Haynesville Shale), Nacogdoches Co., Survey: FLORES, HRS J, A-30 
  • Mocs #H 1, XTO Energy; Carthage Field (Haynesville Shale), San Augustine Co., Survey: SOWELL, DB, A-367 

Haynesville Shale Rig Count: -3 to 17 Over Two Weeks

The Haynesville Shale rig count is at a new low since I started compiling the data in 2010, dropping three over the past two weeks to 17.  Louisiana was down two to 12 (Chesapeake and EP, each down one), while Texas was down one to five (XTO).

Friday, September 25, 2015

U.S. Rig Count: -4 to 838

The U.S. rig count was down four this week to 838.  Oil rigs were down four to 640, gas rigs were down one to 197 and miscellaneous rigs were up one to one.  By type, horizontal rigs were down 11 to 629, vertical rigs were down four to 123 and directional rigs were up three to 86.  Among gas rigs, horizontal rigs were down three to 144, directional rigs were up one to 34 and vertical rigs were up one to 19.

Thursday, September 24, 2015

EIA: Gas in Storage +106 Bcf to 3.44 Tcf

The EIA reported this morning that working gas in storage was up 106 Bcf last week to 3.44 Tcf.  The weekly injection was 10% above last year (+96 Bcf) and 28% higher than the five year average (+83 Bcf).  The current storage level is now 15.7% above last year (2.974 Tcf, a difference of 466 Bcf) and 4.5% above the five year average (3.292 Tcf, a difference of 148 Bcf).



Friday, September 18, 2015

U.S. Rig Count: -6 to 842

The Baker Hughes U.S. rig count was down six this week to 842.  Oil rigs were down eight to 644 and gas rigs were up two to 198.  By type, horizontal rigs were down eight to 640, vertical rigs were unchanged at 119 and directional rigs were up two to 83.  Among gas rigs, horizontal rigs were up one to 147, directional rigs were down four to 33 and vertical rigs were up five to 18.

Thursday, September 17, 2015

EIA: Gas in Storage +73 Bcf to 3.334 Tcf

The EIA announced this morning that working gas in storage was up 73 Bcf last week to 3.334 Tcf.  The weekly injection was 19% below last year (+90 Bcf) and in line with the five year average (+75 Bcf).  The current storage level is now 15.8% above last year (2.878 Tcf, a difference of 456 Bcf) and 3.9% higher than the five year average (3.209 Tcf, a difference of 125 Bcf).


Wednesday, September 16, 2015

Haynesville Shale Rig Count Unchanged Last Week at 20

The Haynesville Shale rig count didn't budge last week, holding at 20.  Louisiana stuck at 14, while Texas held at six.


Friday, September 11, 2015

U.S. Rig Count: -16 to 848

The Baker Hughes U.S. rig count was down 16 to 848 this week.  Oil rigs were down 10 to 652 and gas rigs were down six to 196.  This is the first time in the BHI count data (compiled since July 1987) that the gas rig count has dropped below 200 (and annual production keeps increasing!).  By type, horizontal rigs were down 11 to 648, vertical rigs were down one to 119 and directional rigs were down four to 81.  Among gas rigs, horizontal rigs were down five to 146, directional rigs were down two to 37 and vertical rigs were up one to 13.

Thursday, September 10, 2015

EIA: Gas in Storage +68 Bcf to 3.261 Tcf

The EIA announced this morning that working gas in storage was up 68 Bcf to 3.261 Tcf last week.  The weekly injection was 24% below last year (+90 Bcf) but 8% higher than the five year average (+63 Bcf).  The current storage level is now 17.0% higher than last year (2.788 Tcf, a difference of 473 Bcf) and 4.1% above the five year average (3.134 Tcf, a difference of 127 Bcf).


Tuesday, September 8, 2015

Haynesville Rig Count: -2 to 20

The Haynesville Shale rig count was down two last week to 20.  Louisiana held at 14, while Texas dropped two (Anadarko and BP) to six.  Last week marks the first time since the summer of 2011 that Anadarko hasn't operated a rig in the Texas side of the Haynesville Shale.  It now runs three rigs in Bossier Parish, LA.


Friday, September 4, 2015

Comstock's Haynesville News Picks Up Stock

Speaking about battling the buck, Comstock had a run in with the buck back in July, closing at $0.99 on August 4.  The next day, the company released its quarterly earnings, reporting on successful wells in the Haynesville Shale, and the price has subsequently tripled over the past month (probably abetted by investors noting some insider purchases).

Comstock made a bold move last year to double down on the Haynesville Shale.  While the economics of natural gas have not supported the move, as evidenced by a subsequent capex reduction, the drilling success and capital efficiency of these wells (their rationale) have worked out.  Here are some excerpts from the earnings report:

U.S. Rig Count: -13 to 864

The Baker Hughes U.S. rig count was down 13 to 864 this week.  The entire net change was in oil rigs, which dropped 13 to 662.  Gas rigs were unchanged at 202.  By type, horizontal rigs were down 13 to 659, vertical rigs were down five to 120 and directional rigs were up five to 85.  Among gas rigs, there was no net change (horizontal = 151, directional = 39, vertical = 12).

Thursday, September 3, 2015

EIA: Gas in Storage +86 Bcf to 3.193 Tcf

The EIA reported this morning that working gas in storage was up 86 Bcf to 3.193 Tcf.  The EIA reclassified some of last week's results to get to the 86 Bcf implied flow.  In any case, the weekly injection was substantial:  it was 9% above last year (+79 Bcf) but 43% greater than the five year average (+60 Bcf).  The current storage level is now 18.3% above last year (2.698 Tcf, a difference of 495 Bcf) and 4.0% above the five year average (3.071 Tcf, a difference of 122 Bcf).


Battle to Get Back to the Buck

In intraday trading today, EXCO finally broke above a buck for the first time in two months (but faded later...).  The company had received notice from the New York Stock Exchange exactly a month ago that it would be delisted from the exchange if it didn't start trading above $1 within 90 days.  EXCO got down in the 50 cent range before rallying to get to this point.  If this progress continues and it can stay above a buck, the company may avoid having to do a dreaded reverse stock split.

Goodrich Petroleum, however, went below the buck in late July and has not yet resurfaced.  This week, the company received a similar notice from the NYSE that it is in danger of being delisted.  Given EXCO's progress, there is hope for Goodrich.

Monday, August 31, 2015

Haynesville Shale Rig Count: +1 to 22

The Haynesville Shale rig count was up one this week to 22.  Louisiana was up two (both Chesapeake) to 14, while Texas was down one to eight (XTO, Sabine down one each; BP up one).  Seems like old times in Louisiana with Chesapeake and DeSoto Parish dominating the rig count, only at less than 10% the count from five years ago...


Friday, August 28, 2015

Two Months of New Texas Permits

Interesting to note that Anadarko, which had been the dominant driller in the Texas Haynesville Shale for the past several years, hasn't had a new Haynesville permit approved since March 2015.

7/7/15 - 8/27/15:
  • Soape, A.C. Gas Unit Allocation #22H, BP America; Carthage Field (Haynesville Shale), Panola Co., Survey: OWEN, J, A-552 
  • Herman Brown Gas Unit Allocation.Gas Unit Allocation #13H, BP America; Carthage Field (Haynesville Shale), Panola Co., Survey: OWEN, J, A-552 

Two Months of Texas Completions

6/11/15 - 8/27/15:
  • Greer-Ironosa Alloc #1HB, EXCO Operating: 9.992 MMcf/day IP, 16/64" choke, 7,798 psi; Perfs: 13,344-19,824, length: 6,480 ft.; Carthage Field (Haynesville Shale), San Augustine Co., Survey: WARD, M, A-305 
  • Red River 164-Phillips Alloc #1H, EXCO Operating: 9.45 MMcf/day IP, 16/64" choke, 7,430 psi; Perfs: 13,382-20,442, length: 7,060 ft.; Carthage Field (Haynesville Shale), San Augustine Co., Survey: WARD, M, A-305 

U.S. Rig Count: -8 to 877

The Baker Hughes U.S. rig count was down eight to 877.  Oil rigs were up one to 675, while gas rigs were down nine to 202.  By type, horizontal rigs were down five to 672, vertical rigs were down five to 125 and directional rigs were up two to 80.  Among gas rigs, horizontal rigs were down seven to 151, directional rigs were unchanged at 39 and vertical rigs were down two to 12.

One New Louisiana Completion This Week

  • Lowrey 27 H #1-ALT, EP Energy: 12.217 MMcf/day IP on 18/64 in. choke at 7,277 psi; Perfs: 12,510-17,046, length: 4,536 ft.; Holly Field, DeSoto Parish, S34/T14/R14; res. A, serial #248914

Thursday, August 27, 2015

EIA: Gas in Storage +69 Bcf to 3.099 Tcf

The EIA announced this morning that working gas in storage was up 69 Bcf last week to 3.099 Tcf.  The weekly injection more or less split the difference between last year's injection (+77 Bcf) and the five year average (+61 Bcf).  The current storage level is now 18.3% above last year (2.619 Tcf, a difference of 480 Bcf) and 2.9% higher than the five year average (3.011 Tcf, a difference of 88 Bcf).


Tuesday, August 25, 2015

So Long, Encana

At long last, Encana has sold its stake in the Haynesville Shale.  Encana sold out to GEP Haynesville, LLC, a joint venture of GeoSouthern Haynesville, LLC and GSO Capital Partners, LP for $850 million.  Additionally, the company transferred its gathering and midstream commitments, which eliminated a $480 million five year future cost.  Encana will also transport the GEP gas to market for a fee for the next five years.  The transaction includes 112,000 net acres, approximately 300 operating wells and 720 Bcfe of 2014 proved reserves.  The deal is expected to close in the fourth quarter of 2015.

I have to admit that I'm a bit nostalgic about the sale since Encana completed the first Haynesville wells (no matter what Chesapeake says).  They were also first (by my count at least) to set up drilling sites for pad operations (a.k.a. "gas factories") and were first to push through long cross-unit laterals.

Monday, August 24, 2015

Haynesville Rig Count Unchanged over Past Two Weeks

The Haynesville Shale rig count held at 21 over the past two weeks.  Louisiana held at 12, while Texas was unchanged at nine.  Over the past two weeks, Anadarko moved a rig from Texas to Bossier Parish, LA, Chesapeake was down one rig and XTO added a rig to do a workover in Texas.


Friday, August 21, 2015

Four Weeks of Louisiana Completions...

...and not all that much to show for it:
  • Estes 5 #1-ALT, EXCO Operating: 7.709 MMcf/day IP on 15/64 in. choke at 6,440 psi; Perfs: 12,194-16,147, length: 3,953 ft.; Bethany Longstreet Field, Caddo Parish, S8/T14/R15; res. A, serial #248471 
  • Ratz 19+30-15-11 HC #1-ALT, Chesapeake Operating: 14.003 MMcf/day IP on 20/64 in. choke at 7,110 psi; Perfs: 12,286-17,585, length: 5,299 ft.; Caspiana Field, Caddo Parish, S19/T15/R11; res. B, serial #248904 

U.S. Rig Count: +1 to 885

The Baker Hughes U.S. rig count was up one this week to 885.  Oil rigs were up two to 674, gas rigs were unchanged at 211 and miscellaneous rigs were down one to zero.  By type, horizontal rigs were up one to 677, vertical rigs were up three to 130 and directional rigs were down three to 78.  Among gas rigs, horizontal rigs were unchanged at 158, directional rigs were down one to 39 and vertical rigs were up one to 14.

Thursday, August 20, 2015

EIA: Gas in Storage +53 Bcf to 3.03 Tcf

The EIA announced this morning that working gas in storage was up 53 Bcf to 3.03 Tcf.  The weekly injection was 38% lower than last year (+86 Bcf) and in line with the five year average (+54 Bcf).  The current storage level is now 19.2% higher than last year (2.542 Tcf, a difference of 488 Bcf) and 2.7% above the five year average (2.95 Tcf, a difference of 80 Bcf).


Friday, August 14, 2015

U.S. Rig Count Unchanged at 884

The Baker Hughes U.S. rig count was unchanged this week at 884.  Oil rigs were up two to 672, gas rigs were down two to 211 and miscellaneous rigs were unchanged at one.  By type, horizontal rigs were up four to 676, vertical rigs were down two to 127 and directional rigs were down two to 81.  Among gas rigs, horizontal rigs were down two to 158, directional rigs were up one to 40 and vertical rigs were down one to 13.

Thursday, August 13, 2015

CNG, Oh Yeah!

Finding enlightenment while on vacation:




EIA: Gas in Storage +65 Bcf to 2.977 Tcf

The EIA reported this morning that working gas in storage was up 65 Bcf to 2.977 Tcf.  The weekly injection was 18% below last year (+79 Bcf), but 35% above the five year average (+48 Bcf).  The current storage level is now 21.2% higher than last year (2.456 Tcf, a difference of 521 Bcf) and 2.8% above the five year average (2.896 Tcf, a difference of 81 Bcf).


Monday, August 10, 2015

Haynesville Rig Count: -1 to 21

Since I last reported the Haynesville rig count three weeks ago, the count is down one to 21.  Over that period, Louisiana held at 12, while Texas was down one to nine.  Anadarko shifted a rig from Texas to Louisiana and Chesapeake dropped a rig.

Friday, August 7, 2015

U.S. Rig Count: +10 to 884

The BHI U.S. rig count was up 10 this week to 884.  Oil rigs were up six to 670, gas rigs were up four to 213 and miscellaneous rigs were unchanged at one.  By type, horizontal rigs up eight to 672, vertical rigs were up three to 129 and directional rigs were down one to 83. Among gas rigs, horizontal rigs were up two to 160, directional rigs were up four to 39 and vertical rigs were down two to 14.