Haynesville: The Rigs Keep Coming

Started April 6, 2017 at 03:54 pm by @ShaleForum.com in Haynesville Shale

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04/06/17 03:54:55PM

The rigs just keep on coming...:  The industry activated more than 70 additional drilling rigs during the month of March, bringing the total new rigs activated during the first quarter of 2017 to more than 200.  My "bold" prediction as the year began was that it would take four months, not three, for the U.S. industry to bring that number of new rigs onto the market.  So, ok, I was too timid.

Interestingly, more than a dozen of these newly-active rigs have moved into the Haynesville Shale region, which is experiencing a somewhat surprising resurgence of activity, even in the seemingly interminable weak price market for natural gas.  The play's abundance of pipeline takeaway capacity and proximity to major export facilities are two of the main reasons for this uptick in activity, as detailed by Forbes contributor Jude Clemente in his piece of March 25.

More: https://www.forbes.com/sites/davidblackmon/2017/04/04/the-oil-and-gas-situation-the-rigs-just-keep-on-coming/#5df4661e1127 

Skip Peel - Independent Landman
04/06/17 04:09:45PM @skip-peel-independent-landman:

The Haynesville Shale Region does have a lot of rigs but almost a third in LA are drilling something other than the Haynesville/Bossier shales.  10 out of the 36 rigs deployed in north Louisiana are drilling Cotton Valley sands.  And in recent weeks there have been rigs drilling Hosston sands.

Michael Lowe
04/06/17 04:17:04PM @michael-lowe:
Skip they also said back in 1982 that $40 barrel is too high and never to happen again! Never say never! :)
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Skip Peel - Independent Landman
04/06/17 04:24:49PM @skip-peel-independent-landman:

I'm with you michael however comparisons to pre-unconventional development are fraught with problems.  It seems a difficult task to get GHS members who follow horizontal development to add 2x to rig counts.  Example, the Haynesville Shale will never see 60 rigs running again....that's because 4.0 well designs mean that one rig drills the linear feet of lateral that took 2 rigs to drill just 2 to 3 years ago.  So 26 current Haynesville rigs is roughly equal to 52 rigs in 2013/2014/2015.

Michael Lowe
04/06/17 04:29:52PM @michael-lowe:
04/06/17 05:46:07PM @rozzy:

Thank you for the update this is good news!

William C. Morrison
04/08/17 10:06:51AM @william-c-morrison:

I am invested in a gas well in Palo Pinto County, TX.  The well is on the Hart ranch and is relatively close to Possum Kingdom Lake,  Possum Kingdom Lake is on the Brazos River that generally separates Parker County and Palo Pinto County.  I reside in Parker County.  While this is big time Barnett Shale area in Parker County, it is shallow gas in the Palo Pinto region.  It will be an interesting investment to me.




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