Haynesville
The Haynesville shale play runs through northwestern Louisiana, northeastern Texas, and the southwestern tip of Arkansas. Some industry experts believe the Haynesville shale could ultimately produce as much as 30 to 40 trillion cubic feet of natural gas and will outproduce the Barnett shale in less than five years. The reason is the formation is very deep and very thick. The depth and high pressures make drilling expensive, but the payout is believed to be worth the cost.
Chesapeake Energy is the major leaseholder and producer in the Haynesville, but several smaller operators, including Houston-based Petrohawk Energy, have acquired significant positions and are increasing production quickly. The Cotton Valley tight gas formation is located just above the Haynesville shale and is also a major target for companies operating in this area.
Haynesville
Haynesville Shale News
Goodrich Petroleum promotes Schott to senior VP, CFO
Jun 18, 2010
Independent oil and gas exploration and production company Goodrich Petroleum Corp. has promoted Jan L. Schott to senior vice president and CFO. |
EXCO acquires Haynesville, Bossier Shale assets from Southwestern for $355M
Jun 17, 2010
Oil and natural gas company EXCO Resources Inc. has agreed to purchase certain Haynesville and Bossier shales properties from Southwestern Energy Co. for $355 million. |
Petrohawk Energy closes transactions
May 24, 2010
Houston-based oil and gas company Petrohawk Energy Corp. has closed on two previously announced transactions, a 50/50 joint venture with Kinder Morgan Energy Partners LP involving the company's midstream business in the Haynesville Shale for $875 million, and the sale of Terryville Field for $320 million. |
Crimson Exploration names Isaac senior VP
May 24, 2010
Independent energy company Crimson Exploration Inc. has named Carl Isaac senior vice president of operations. |
GlobaLogix expands to support Haynesville project work
May 19, 2010
GlobaLogix Inc., a Houston-based oilfield automation company, has opened an operations center in Carthage, TX to support activity in the Haynesville shale area. |
EXCO ups Marcellus, Haynesville activity with aquisition, JV
May 14, 2010
Dallas, TX-based EXCO Resources Inc. has agreed to purchase Houston-based exploration, exploitation, and production start-up company Common Resources LLC jointly with UK-based BG Group plc for approximately $446 million in cash. |
Petrohawk shifts focus away from Fayetteville in 2010
May 6, 2010
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TCM starts construction on East Texas gas gathering system
Apr 28, 2010
Tenaska Capital Management LLC (TCM) has started construction of TPF II East Texas Gathering LLC (ETG), a major high capacity natural gas gathering system with multi-market capacity to serve the Haynesville shale formation in East Texas. |
Analysis: Goodrich Petroleum acquires Eagle Ford, Haynesville acreage
Apr 14, 2010
Goodrich Petroleum Corp. has agreed to purchase leasehold in both the Eagle Ford and Haynesville shale plays. Jefferies & Co. shares thoughts on the deals. |
Petrohawk Energy sells half of Haynesville midstream ops for $875M
Apr 13, 2010
Houston-based oil and natural gas company Petrohawk Energy Corp. has entered into a definitive agreement to sell a 50% interest in it's Haynesville Shale gathering and treating business for $875 million in cash to Kinder Morgan Energy Partners LP. |
Denbury to sell Encore properties to Quantum for $900M
Apr 5, 2010
Denbury Resources Inc. will sell certain of its oil and natural gas properties to Quantum Resources Management. The properties were recently acquired in the merger with Encore Acquisition Co. for $900 million. |
Mainland Resources reappoints CFO after Witt resigns
Mar 31, 2010
Junior oil and gas exploration and development company Mainland Resources Inc. has reappointed William D. Thomas as CFO/treasurer after the resignation of Mark N. Witt. |
Regency Energy Partners amends, extends credit facility
Mar 8, 2010
Midstream natural gas services provider Regency Energy Partners LP has amended and extended its $900 million revolving credit facility through June 15, 2014. |
North American resource plays a big part of Marathon's 2010 drilling program
Feb 13, 2010
While Marathon Oil Corp.’s $5.1 billion 2010 CAPEX budget is 17% lower than last year, the company plans to advance its resource plays, including those in the Marcellus, Woodford, and Haynesville, and Bakken shales. |
Callon enters Haynesville, earmarks majority of 2010 CAPEX to onshore
Feb 3, 2010
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The “natural gas revolution” is changing global energy dynamics, including the outlook for energy security in the United States and elsewhere. In his keynote speech to the annual 31st annual CERAWeek Executive Conference in Houston, Peter Voser, CEO of Royal Dutch Shell plc, outlines what the industry and policymakers must do to ensure society fully leverages the many benefits of natural gas. He calls for well-targeted and robustly enforced regulations to ensure tight and shale gas production meets the highest standards. He also urges the industry to do a better job of listening and responding to public concerns about the environmental and operational challenges associated with gas production.
Read the full speech by Peter Voser here.
The total value of US oil and gas mergers and acquisitions increased significantly in 2011 due to continued investment in US shale plays and related infrastructure, sustained interest from foreign buyers, and private equity entrants deploying capital in the energy industry, according to an analysis of energy M&A data by PwC US. A major trend in the energy sector driving the increase in deal value throughout the year was a shift towards more investments in oil and liquid plays as natural gas prices remained depressed amid hitting a 10-year low in 2011.
Read more here.
Can the shale gas r
evolution currently taking place in the US be repeated elsewhere? Although significant volumes of unconventional gas deposits are present in Poland, France, Germany, Hungary, Sweden, Turkey, and the UK, shale gas developments are running many years behind their counterparts in the US. Skeptics have pointed out that differences in geology, taxes, public acceptance, environmental regulations and other factors in Europe vs. the US make for a tougher environment in which to develop unconventional resources.
Read the article by Bart J. A. Willigers of Palantir Solutions Ltd. here.
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