Western Haynesville Play (Texas) - Robertson, Leon, and Freestone Counties, Royalty Interest-Bossier Parish, LA Make offer, COMSTOCK RESOURCES, INC. REPORTS FOURTH QUARTER 2022 FINANCIAL AND OPERATING RESULTS, U.S. gas producers skimped on price hedges and now face a reckoning, RBN's Five-Year Natural Gas Market Outlook, Lower 48 Plays to Add 400 MMcf/d of Production from February to March, EIA Says, Black Stone Minerals: Hedges And Shelby Trough To Power Upside. We like to be contrarian. So, Pittman estimated a royalty payment after production drops to a baseline of 1-million cubic feet per day after a few years as, "seventy-five dollars per month for one acre in a 640-acre drilling and production unit." Seventy-five dollars seems incredibly low, compared to the numbers batted around by the general public. The purchase price is $125 million, subject to customary closing adjustments, and a contingent payment of $7.5 million which is based on the price of natural gas and may be payable in March 2023 under certain conditions. Started by JAMES SMITH in Shale Related Topics. Supply of crude oil dropped by 17.8% in May 2020 and since then kept a relatively stable level at 33,300 barrels per day (bd). In addition, they reported the increase in Haynesville activity as one of the key factors that is supporting the supply imbalance in our 2023 natural gas supply-demand work. Also in this week's A&D Minute: Permian Resources' purchases and sales add up to nearly $300 million, plus see what private equity experts are sayingabout A&D this year. As of December 2020, the number of working rigs is up 25% in the Haynesville since July 2019. This Upper Jurassic age formation was deposited about 150 million years ago in a shallow offshore environment. Lower 48 permits often are issued three to six months, Bolstered by another strong month of growth from the Haynesville Shale, domestic natural gas production from seven key onshore plays should grow to over 96.6 Bcf/d from January to February, updated modeling from the Energy Information Administration (EIA) shows. "Years of relatively low natural gas prices meant it was less economical to drill deeper wells," the report continued. Last reply by Rebecca Lane Feb 16. https://www.worldoil.com/magazine/2020/december-2020/features/shaletech-haynesville-bossier-shales, Source: U.S. Energy Information Administration (EIA), NATURAL GAS 06 Jan 2021 | 22:34 UTC New York, Amid bullish outlook, Haynesville gas producers gear up for record output in 2021, Production averaging over 13 Bcf/d in January, Rig count hits 12-month high at 46 on Dec. 30, Tighter supply, record exports bullish for Haynesville. Coverage includes US onshore and Gulf of Mexico. Noble Energy Penn Virginia 2023-01-12 - Equinor experienced a power outage at the Johan Sverdrup oilfield, leading to a reduced production rate for two consecutive days. Started by Skip Peel - Mineral Consultant in Shale Related Topics Feb 16. USGS 2016 estimates undiscovered, technically recoverable mean resources of 1.1 Billion Barrels of Oil & 195.8 Trillion Cubic Feet of Gas in the Upper Jurassic Haynesville Formation. If youre facing a lawsuit, the outcome is critical, Oil and Gas Litigation to Include Personal Injury/Product Failure/Drilling, Business in the Permian Basin: Visual Resources, Appalachian Basin to Include Marcellus Shale and Utica Shale. In a call with investors to discuss 4Q2022 earnings earlier this month, CEO Steven Kean said Kinder is moving forward with the $678 million Evangeline, Only a few U.S.-based exploration and production (E&P) companies have provided formal capital spending plans for 2023, but expenditures overall are forecast to decelerate from a year ago. 2023 Hart Energy. Despite a seemingly quiet year, the Haynesville saw a 54% increase in rig activity, reaching 72 in mid-December. Follow the topics you want and receive the daily emails. Encased by the Cotton Valley Group (sandstone) above and the Smackover Formation (limestone) below, true vertical depths range between 10,000 to 14,000 feet. Total production. Your daily news has saved me a lot of time and keeps me up-to . Started by todd graham in Shale Related Topics. The Haynesville shale, also known as the Haynesville/Bossier shale, is a prolific dry natural gas shale play situated in East Texas and Northwest Louisiana, in the US. . Tellurian is developing a portfolio of natural gas production, LNG marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. So, were not going to overpay for gas assets in this environment. EnSight asset highlights: Current net production of ~45 million cubic feet of natural gas per day (MMcf/d) (100% natural gas) (1). Started by Skip Peel - Mineral Consultant in Shale Related Topics Feb 11. The Company is unable to present a reconciliation of forward-looking asset-level EBITDA because certain components of the calculation are subject to change. Nov 2022 - Feb 2023 4 months. "However, because natural gas prices have increased since mid-2020, producers have an incentive to increase the number of rigs in operation and use those rigs to drill deeper wells.". Prices for top E&P stocks and commodities. According to data by the EIA, Haynesville natural gas production accounted for about 13 percent of all U.S. dry natural gas production in February 2022. FRISCO, TX, Feb. 21, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - Verde Bio Holdings, Inc. (OTCQB: VBHI), a growing oil and gas Company, today announced that it has entered into an agreement to acquire revenue producing mineral and royalty interests in the prolific Haynesville Shale of Northern Louisiana . The Haynesville Shale is Sandwiched in between the also unconventional Cotton Valley, Bossier and Smackover formations, the Haynesville Shale is one of the most notable plays along the U.S. Gulf Coast. Despite the pandemic, US power generation from natural gas increased 9% in January to June 2020 over the same period for 2019. E&P executives are surveyed twice a year by Evercore ISI to determine the level of capital expenditures (capex) and activity, which often are revised. East Daley recently predicted sub-$2 natural gas prices as a result of oversupply in 2023. During the companys third-quarter 2022 earnings call, chairman and CEO Jay Allison shared that Comstock had highest quarterly results ever achieved in its history thanks to the increased sale of shale natural gas. In fact, in 2019, US consumption set a new, record high of 31 Trillion cubic feet of gas. GMX Resources Goodrich Petroleum Indigo Minerals JW Operating Memorial Resource Dev. State of Shale 2023, Haynesville: A Slumbering Giant? Started by Skip Peel - Mineral Consultant in Shale Related Topics. Started by J B Nabors in Shale Related Topics. Started by M B Gilster in Shale Related Topics. 36 bbl/d of its 347 bbl/d total oil production in the half came from the East Texas basin, as did 1.24 Bcf/d of its 1. Track new and recompletion permits by: well name, class, (Oil, Gas, etc) county, state, operator, permit date and, status, API, lease information, and legal description, Rig Locations Map / Database: Updated Weekly, Search and view rig locations by: operator, well name, county, state, and wellbore type, Search for the number of wells planned to drill / complete, rigs, lateral lengths, and frac stages. According to World Oil Global LNG trade will rise 21% by 2025 from 2019, reaching 585 billion cubic meters. Haynesville production accounted for about 13% of all U.S. dry natural gas production in February 2022, she said. Started by Skip Peel - Mineral Consultant in Shale Related Topics. Track A&D/M&A transactions by: buyer, seller, deal value, production, reserves, acreage, price per BOE, Access select maps from operator presentations for acreage, acquisitions, trends, and more, Track the latest well results and performance from operators in the Permian-basin, Track spending quarter by quarter as operators adjust spending throughout the year, Property Listings (Assets for sale by Operator, State, County, Region, Type), Still not sure? Comstock also spent $7.9 million on leasing activity. Started by Skip Peel - Mineral Consultant in Shale Related Topics on Saturday. The preliminary agreement with Sempra Infrastructure is designed to increase global access to low-carbon Haynesville natural gas via Williams wellhead-to-water strategy, the company said. 2023-02-10 - Data on treated produced water can help the industry find more uses for the water that comes out of the reservoir during production. Changes in technology and industry practices, combined with an increased understanding of the regional geologic framework, can have a significant effect on what resources become technically recoverable, Walter Guidroz, program coordinator of the USGS Energy Resources Program, said about his scientists new assessment of the Haynesville Shale. Our analysis on Haynesvilles current and planned takeaway capacity concludes that the basin has the capacity to sustain the forecast production growth up to 2024, the year when potential bottlenecks could start, unless new pipeline projects get approved. (1) Management estimate of EnSight June 2022 average sales volumes of target assets. Sign in to get the best natural gas news and data. Beginning in September, the company reverted from proppant loadings of 2,800 lb/ft to its previous 3,500-to-3,600 lb/ft stimulation strategy. At Southwestern, the companys strategic intent is to generate resilient free cash flow from responsible natural gas development, has enabled it to establish a presence within the two largest natural gas basins in the U.S. and become the largest gas producer in the Haynesville shale. COPYING AND DISTRIBUTING ARE PROHIBITED WITHOUT PERMISSION OF THE PUBLISHER, Underground Construction Technology Conference, Pipeline Capacity Growth Fuels Record Haynesville Gas Production, New Fortress Plans to Start Producing LNG at Altamira, Mexico in July, Pipeline Operator Enbridge to Buy US Gulf Coast Gas Storage Facility for $335 Million, Sempra Beats Profit Estimates on Higher Earnings from California Units, French Court Dismisses Lawsuit Against TotalEnergies Over Uganda Pipeline Project, Mexico's Pemex Increased Gas Flaring at Top Field, Despite Pledge to Stop, Tellurian Faces New Setback as Financing Looms for $13 Billion Driftwood LNG Project, Pipeline Operator TC Energy Says Stress, Weld Fault Caused Keystone Oil Spill, 416-Mile Coastal GasLink Pipeline Project Nears Completion, US to Sell 26 Million Barrels of Oil Reserves As Mandated by Congress, Kazakh Oil Decouples from Russian Crude But Risk Weighs on Price, Methane Emissions Problem Requires Better Monitoring, Phillips 66 to Buy Pipeline Operator DCP Midstream, Lithuania-Latvia Gas Pipeline Rocked by Explosion, 250 People Evacuated, Mexico's Pemex Destroyed Resources Worth $342 Million from Two Top Gas Fields, Editors Notebook: Big Early Win for Northwest Capacity. Report an Issue | Dies geschieht in Ihren Datenschutzeinstellungen. The Company had 29 drilled but uncompleted wells at year-end. All material subject to strictly enforced copyright laws. Oil & Gas 360 c/o EnerCom, Inc. 410 17th Street Suite 250 Denver, CO 80202 360support@enercominc.com 303-296-8834 E-mail for Advertising Information or call 303-296-8834 x 243 Already have an account ? In the fourth quarter, operators in the Texas-Louisiana shale play added 10 rigs, bringing the total fleet to 46 as of Dec. 30, according to data published by Enverus. Quantum Energy Partners-backed Rockcliff Energyproduces more than 1Bcf/d of naturalgasfrom East Texas' Haynesville shale formation. During 2022, Haynesville well costs averaged $1,758 per lateral foot for wells placed to sales. As one of the safest and cleanest fuels available, it has become the fuel of choice for American homes and industries. Meritorious Awards for Engineering Innovation (MEAs), Gulf of Mexico Energy Transformation Conference, Meritorious Awards for Engineering Innovation (MEA), Tellurian Production, Revenues Soar in Q4 as Driftwood LNG Remains on Track, Inside Comstocks North Houston Western Haynesville, Williams, Chevron Agree to Natural Gas Production Projects in Haynesville and GoM, A&D Minute: Chesapeake's Eagle Ford Divestiture with a Twist [WATCH], WhiteHawk Picks Up Haynesville Mineral, Royalty Interests in $105 Million Deal, Marketed: Merced Capital Diversified Non-Operated Lower 48 Assets, Tokyo Gas' TG Natural Nears $4.6B Deal to Buy Haynesville's Rockcliff. matthew.phillips@tellurianinc.com. The rumor mill kicked into overdrive on Friday when Bloomberg published an article saying Pioneer Natural Resources Co., one the largest independent oil producers in the U.S., is considering (negotiating for) an acquisition of Marcellus driller Range Resources Corp., according to "people familiar with the matter.". Blue Dome Operating LLC BXP Operating Company Brix Operating LLC Cabot Oil & Gas In addition to its overall size, the Haynesville is known for its high porosities. So far this year, the Haynesville formation in Northwest Louisiana and East Texas has had four deals totaling $1.65 billion, according to Andrew Dittmar, director at Enverus. A key factor in Haynesvilles ability to sustain an advantage against the Appalachian region will be to maintain the relative ease with which operators can transport gas from wellheads to Gulf coast markets, compared to the bottlenecks and mid-stream project cancellations that producers in the Northeast have to grapple with. Haynesville Shale Overview Sandwiched between the also unconventional Cotton Valley, Bossier and Smackover formations, the Haynesville Shale is one of the most notable plays along the U.S. Gulf Coast. East Daley recently predicted sub- $ 2 natural gas increased 9 % in January to 2020. In a shallow offshore environment present a reconciliation of forward-looking asset-level EBITDA because certain components of calculation... Shale 2023, Haynesville well costs averaged $ 1,758 per lateral foot for placed. Than 1Bcf/d of naturalgasfrom east Texas ' Haynesville Shale formation U.S. dry natural increased! Shale 2023, Haynesville well costs averaged $ 1,758 per lateral foot for wells placed to sales ago a! Haynesville saw a 54 % increase in rig activity, reaching 72 mid-December! December 2020, the Haynesville saw a 54 % increase in rig activity, reaching 585 billion meters! Result of oversupply in 2023 September, the Company reverted from proppant loadings of 2,800 lb/ft its... 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