2023 Shale Experts, All rights reserved. Report an Issue | This transaction grows our 2023 estimated natural gas production by ~30%, increases upstream asset-level EBITDA by ~25%, and expands upon our existing platform., TPC President John Howie added, We have been diligently growing our natural gas production and reserves in the Haynesville. Last reply by Keith Mauck (Site Publisher) Feb 16. Based on current commitments to certify about 7 Bcf/d of Haynesville production by the end of 2022, roughly 53% of the basin's gas output will be certified gas by the end of the year. Our Business . Free Cash Flow was $22.4 million in Q4 2022, sequentially lower than the $40.1 million in Q3 2022 but higher than the $14.2 million in Q4 2021. HOUSTON--(BUSINESS WIRE)-- The sales and purchase agreement (SPA) was amended to give Gunvor the option of walking away if Tellurian failed to meet conditions, including sanctioning, Comstock Resources Inc. spent 2022 shoring up its western Haynesville acreage that could provide a lot of potential in the independents long-term strategy to supply a surge LNG growth on the Gulf Coast, said CEO Jay Allison. Acquisition Includes Revenue Producing Natural Gas Interests in Desoto Parish, Louisiana. Looking to the liquefied natural gas buildout, its going to run its course, he said during the fourth, As natural gas prices swing lower from 2022 highs, Haynesville Shale-focused Comstock Resources Inc. said it is dropping two of nine operated natural gas drilling rigs. Reduced gas supply from oil-heavy basins has fueled a rally in the Henry Hub 2021 forward gas curve. Haynesville is the third-largest shale gas-producing play in the United States. In the Haynesville, weve made significant strides with midstream capacity, CEO Nick DellOsso said on the earnings call. In Other Fourth Quarter (4Q) Update news. 2022 Pipeline & Gas Journal, 2022 Gulf Publishing Holdings LLC. Created Date: 20230223161325-06 . Capex Plans Jump After 2Q: Nearly 30 E&P Companies Raise 2022 Budgets, Riverbend Finalizes $1.8B Sale of Portfolio Companies, Southwestern Energy Co. Second Quarter 2022 Results, Future and current Drilling Plans in , as of 03-02-2023, Intent To Drill/Drilling Permits for , as of 03-02-2023, Latest News on the US, Canada and International plays, Tracking Activity on more than 4,000 companies (E&P, Midstream & Oilfield Services), Active Rigs By Company and County (Updated Weekly), 2015 & 2014 Company Detailed Drilling Budgets, Company & Play Break-Even, Type Curves and Well Economics. 2023 Natural Gas Intelligence. Williams and Chevrons agreements will support growing natural gas developments in the Haynesville and Gulf of Mexico. Around 40% of total commitments in the basin were announced in 2022, suggesting gathering momentum. Please take a look at our latest technical animation work! Owing largely to prices, offset frac activity, and widespread inland power outages resulting from Hurricane Laura in late August, Comstock shut-in 7% of third-quarter production. In the end your minerals are only worth what someone is willing to pay for them. Started by Skip Peel - Mineral Consultant in Shale Related Topics Feb 13. The company reported 334,716 boe/d in first half 2022 production from the Haynesville, comparable to the total 887,668 boe/d produced by the company across all its assets, according to Enverus data. Basic Info Haynesville Region Rig Count is at a current level of 72, down from 73 last month and up from 56 one year ago. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. 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. Drilling a well in the Haynesville Shale takes 30 to 45 days and costs about $7 million to $8 million, not including the purchase of leasing rights for the land. The second private company to emerge as a Haynesville top player, Rockcliff production totaled 205,997 boe/d in the Haynesville in the first half of the year, according to Enverus. Earnings and Operations Update Call. Camterra Resources Chesapeake Energy Cobra Oil & Gas Corporation Cohort Energy Comstock Resources Haynesville production accounted for about 13% of all U.S. dry natural gas production in February 2022, she said. Started by J B Nabors in Shale Related Topics. Meanwhile, for self-described contrarianKimbell Royalty PartnersLP, its I told you so time, as a once-derided $445-million investment harvests the dividends of a projected 50% increase in gas prices over the next year. We've increased our gathering and treating capacity by 25% for this year and up to 60% in out years.. Last reply by Rebecca Lane Feb 16. Like Comstock,Goodrich PetroleumCorp. is exploiting higher prices to elevate proppant concentrations to as high as 4,100 lb/ft, with comparative analysis showing marked increases in recoveries, exceeding the companys 2.5 Bcf/1,000 ft curves. This site was born out of these desires. On Jan. 5, the calendar-year 2021 Henry Hub price settled at an average $2.80/MMBtu up about 13%, or more than 30 cents, from its recent low. The Surveys new estimate was 304 Tcf of recoverable natural gas for the combined Haynesville and Bossier formations that fattened up its prior estimate by a whopping factor of five. Tellurian will fund the purchase with cash on hand and anticipates closing on the EnSight assets in the third quarter of 2022. Weve also committed 700 MMcf/d to a new pipeline to be built by momentum from the heart of the Haynesville play down to [Gilles], he continued. As the largest private producer in the Haynesville, Aethon produced 313,492 boe/d of its total 330,601 boe/d from the basin. Started by Skip Peel - Mineral Consultant in Shale Related Topics Feb 16. Oil Rig Drawing Well Logging Blowout Preventor Salt Water Disposal, Drilling Geology Illustration available for license. In addition to its overall size the Haynesville is known for high its porosities, making directional drilling and hydraulic fracturing popular avenues for tapping into its gas reserves. These assets provide Tellurian with both cash flow and a physical hedge for Driftwood LNG. February 21, 2023 Haynesville Shale Lower Natural Gas Prices Lead Comstock to Cut Rigs in Haynesville As natural gas prices swing lower from 2022 highs, Haynesville Shale-focused Comstock. 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. Look, experience and, Location We are very excited to see the forecasted improvement in natural gas prices, both in the fourth quarter of 2020 and full-year 2021, based on the futures curve.. Information on assets, buyers and sellers, deal values, and more. Started by Skip Peel - Mineral Consultant in Shale Related Topics. Although Tellurian may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws. The Haynesvilles close proximity to existing infrastructureincluding an extensive pipeline system, processing plants and Gulf Coast LNG export terminals makes the play an attractive operating environment with efficient cycle times from drilling to sales. Despite a seemingly quiet year, the Haynesville saw a 54% increase in rig activity, reaching 72 in mid-December. Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Started by Ellen Eakin in Shale Related Topics. These risks include the matters discussed in Item 1A of Part I of the Annual Report on Form 10-K of Tellurian for the fiscal year ended December 31, 2021 filed by Tellurian with the Securities and Exchange Commission (the SEC) on February 23, 2022, and other Tellurian filings with the SEC, all of which are incorporated by reference herein. Sign in to get the best natural gas news and data. Richardson Lagrone HV Unit D/4H Carthage (Haynesville Shale) 10983 22181 32/64 3.5 miles south of DeBerry. More than 2,500 Subscribers rely on our data each day. Southwestern Accelerating Haynesville Natural Gas Development By Jamison Cocklin March 1, 2022 Share on: Southwestern Energy Co. expects to spend more in the Haynesville Shale during 2022. The Haynesville Shale's overpressurization is one of its key properties, which has helped to produce some extremely high initial production rates. 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. With new effects and cutting-edge, 3D modeling software, we can go beyond the norm and create that one of a kind technical animation, illustration, or oil and gas graphic animation youre looking for! According to the FNGA, over 97 percent of the natural gas used domestically is produced here, in North America. One of the first operators to enter the basin, Chesapeake was the Haynesvilles largest producer in the first half. Comstock also participated in 16 (1.3 net) non-operated Haynesville shale wells in 2020. Respondents indicated that, U.S. natural gas and oil drilling permit activity ended the year surpassing expectations, climbing 13% in December or up by 389 permits from November, according to Evercore ISI. Fellow private operatorVine Oil & GasLP. Started by Rebecca Lane in Shale Related Topics. 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. (1) Management estimate of EnSight June 2022 average sales volumes of target assets. 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. Unleased acreage can be below $500 an acre to $3,000 an acre depending on location. Operating three rigs and two completion . "We hope to be able to announce some agreements that we are close to getting signed over the next few years," McCrea said, noting the company was "still a ways from FID but we are really excited about where that project is going. Prices for top E&P stocks and commodities. According to Platts Analytics, the ongoing midstream buildout from the Haynesville is helping to debottleneck producer access to the Gulf Coast export market, making it strategically placed to supply exporters. Click here to Upgrade And Get Immediate Access. Ellie Grace/1HA . 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. It is one of the most revenue-generating shale plays in the U.S. The latter half of the year was dedicated to focusing on Chesapeakes midstream capacity, the company shared on its third-quarter 2022 earnings call, which includes developing a new pipeline project with an associated carbon capture and sequestration program. The Haynesville shale of northeastern Texas and northwestern Louisiana is the third-largest shale gas-producing play in the United States. According to Platts Analytics, the breakeven wellhead gas price for an average producer has improved significantly in recent years and is now estimated at around $2.50/MMBtu. Southwestern Energy Announces Fourth Quarter and Full Year 2022 Results; Provides 2023 Guidance. As of December 31, 2022, our upstream natural gas assets consist of 27,689 net acres and interests in 143 producing wells located in the Haynesville Shale trend of northern Louisiana. Comstock now holds a 309,000-net-acre position in the northern Louisiana fairway. Last reply by Skip Peel - Mineral Consultant 9 hours ago. Last reply by Hale Yayuh Feb 14. The Haynesville shale of northeastern Texas and northwestern Louisiana is the third-largest shale gas-producing play in the United States. Tellurian is based in Houston, Texas, and its common stock is listed on the NYSE American under the symbol TELL. As Haynesvilles second growth phase began and operators returned to the previous record production numbers from the first boom in late-2019, the system touched the key 90% level of utilization, above which it may come under strain with bottlenecks occurring. Petrohawk Pine Wave Energy Partners Operating, LLC Plains Exploration & Production Questar Corp. Range Resources Rig activity remained strong through Dec. 16, with the Haynesville running 72 rigs, according to the Baker Hughes rig count. Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today that its wholly owned subsidiary Tellurian Production LLC (TPC) has entered into an agreement to purchase natural gas assets from privately held EnSight IV Energy Partners, LLC and EnSight Haynesville Partners, LLC (collectively EnSight) located in the Haynesville Shale. joi.lecznar@tellurianinc.com, Investors: For the year, the company plans to turn 52 wells in line, followed by 10 new producers in the first quarter of 2021, says Sr. VP of Finance and Investor Relations Emily Newport. Acreage leased but not in production can be anywhere from $500 to $5,000 an acre based on activity in your area and production nearby. Shale thickness ranges from 200 to 350 feet at producing depths of 10-14,000ft+. After a strong third quarter bolstered by high natural gas prices, the Frisco, TX-based independent has taken note as natural gas prices have fallen over 70% since September, said, With the Haynesville Shale continuing to serve as the biggest driver of projected onshore natural gas production growth, output from seven key Lower 48 plays is poised to grow by 426 MMcf/d from February to March, according to the Energy Information Administration (EIA). We like to be contrarian. Comstock drilled 55 (46.1 net) operated horizontal Haynesville shale wells during the year ended December31, 2020, which had an average lateral length of 9,247 feet. Started by Skip Peel - Mineral Consultant in Shale Related Topics. Editors note: This is one in an occasional series of articles examining the state of major U.S. shale plays at the end of 2022. Noble Energy Penn Virginia The Haynesville/Bossier Shale, located in East Texas (Railroad Commission of Texas District 6) and Western Louisiana, is a hydrocarbon-producing geological formation capable of producing large amounts of gas. is operating three rigs and one companion frac spread, but is still formulating the 2021 program, which will be presented to stakeholders in February, says Investor Relations Director David Erdman. While it made sense to bring well costs down as low as we did, with weak gas prices this year, with prices closer to $3-plus now, it makes sense to invest in a little more profit, as we believe the wells will have a higher return, Allison said. 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. PHXhas added roughly 1,800 royalty acres in the SCOOP and Haynesville since July. Stay in touch with the latest activities by subscribing to our daily email covering operators, service companies, (acreage, production rates, well info, development plans, resverse, and completions designs), Top Haynesville E&P Cuts 2023 Drilling Program By 22%, Southwestern Energy 4Q, Full Year 2022 Results; Talks 2023 Plans, Chesapeake Energy Q4, Full Year 2022 Results; IDs $1.8B 2023 Capex, Chesapeake Energy Third Quarter 2022 Results, Comstock Resources Third Quarter 2022 Results. A surprise standout in the EIA's report was Florida. Gunvor Group Ltd. has the option to terminate its deal to buy supplies from the proposed Driftwood LNG terminal after a deadline passed Tuesday for Tellurian Inc. to meet certain conditions. 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. (5) Management estimate of total reserves and contingent resources as of August 1, 2022 (using June 30, 2022 NYMEX strip pricing and cost information as of July 6, 2022) in accordance with the definitions and guidelines set forth in the 2018 PRMS. Alternative energy deals make their mark as sector dominates 2022 M&A . Favorable geologic composition for Hydraulic fracturing,recompletions and refracs of existing horizontal wells. 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. Today, the Haynesville Region is the third largest natural gas producer in the United States, behind only the Appalachian and Permian basins. We have Oil & Gas STOCK Photographs Started by Steve P in Shale Related Topics. 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. Youll see that our creative team is continuing to push beyond their comfort zone to create that WOW experience for every clients play, tool or oil and gas technology project with our animated graphics. 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. Database of selected U.S. and international exploration wells. The region is forecast to account for about 21% of the countrys gas production in 2035, compared to 13% in 2020. Southwestern Energy Announces Fourth Quarter and Full Year 2022 Results; Provides 2023 Guidance Started by Skip Peel - Mineral Consultant in Shale Related Topics on Saturday. Sie knnen Ihre Einstellungen jederzeit ndern. In January, Haynesville production gas averaged over 13 Bcf/d as a wave of new rig additions lifts the basins total to its highest since January 2020, data compiled by S&P Global Platts Analytics shows. The region is forecast to account for about 21% of the country's gas production in 2035, compared to 13% in 2020. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. We have seen a pickup in competition on the gas side that didnt exist, even six to 12 months ago, but that doesnt concern us or impede our ability to successfully execute our M&A strategy, he said. In January, total US gas production has averaged just 90.7 Bcf/d down more than 5 Bcf/d from its prior record high and about 3 Bcf/d below its early January 2020 level. The EnSight asset is a great fit with Tellurians existing position in the Haynesville Shale and allows us to step into an ongoing development program and bring on-line significant additional natural gas volumes in the fourth quarter of 2022.. Quantum Energy Partners-backed Rockcliff Energyproduces more than 1Bcf/d of naturalgasfrom East Texas' Haynesville shale formation. Terms of Service, As exciting as this is, we know thatwe havea responsibilityto do this thing correctly. The. 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 . Under a scenario in which all new projects are approved, constructed, and are brought online, and the Mid-Con stays at its currently forecast low levels, the system will stay at a level comfortably under 90% well into the medium term, providing sufficient capacity for a booming third growth phase. Klicken Sie auf Einstellungen verwalten um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten. 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. 2023 Created by Keith Mauck (Site Publisher). Ravnaas said others are taking notice of the improving market. 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? Samson Resources Shell Western St. Mary Land & Exploration SM Energy Southwestern Energy Already have an account ? 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. The words anticipate, assume, believe, budget, estimate, expect, forecast, initial, intend, may, plan, potential, project, proposed, should, will, would, and similar expressions are intended to identify forward-looking statements. To get full access now. Phone +1.832.320.9331 Those three projects added 1.3 Bcf/d of takeaway capacity from the Haynesville area, raising its total estimated takeaway capacity to 15.9 Bcf/d, according to PointLogic. The effective date of the transaction is August 1, 2022. Projects have includedEnbridge Midcoast Energys CJ Express pipeline, which entered into service in April 2021, and Enterprise Products Partners Gillis Lateral pipeline. All rights reserved. This is a change of -1.37% from last month and 28.57% from one year ago. (3) Reserves and inventory information as of August 1, 2022 (using June 30, 2022 NYMEX strip pricing and cost information as of July 6, 2022) as prepared by Netherland, Sewell & Associates in accordance with the definitions and guidelines set forth in the 2018 Petroleum Resources Management System (PRMS). The Company is unable to present a reconciliation of forward-looking asset-level EBITDA because certain components of the calculation are subject to change. He added that a new well in Robertson County in the western region that contributed to the companys success and that the company also drilled a second well. Petrohawk Energy Corp. and Chesapeake Energy Corp. both announced lease acreages in Louisiana, sparking a flood of interest to the region. Although it produced 89,862 bbl/d of oil in the first half of the year, none of Chesapeakes oil production came from the Haynesville, according to the data. Dry natural gas production from the Haynesville shale play in northeastern Texas and northwestern Louisiana reached new highs in the second half of 2021, and production has remained relatively strong in early 2022. 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. It remains poised to see a production growth of 5 Bcfd or more over the next five years based on aconservative level of drillingon the back of robust permitting activity, an expanding inventory of commercial locations that includes East Texas and the mid-Bossier and improving 2-month initial production results, Rystad Energy estimates. Additionally, 19 bbl/d of its total 402 bbl/d of oil production and 1.88Bcf/d of its total 1.98Bcf/d of natural gas production came from the Haynesville. Durch Klicken auf Alle akzeptieren erklren Sie sich damit einverstanden, dass Yahoo und unsere Partner Ihre personenbezogenen Daten verarbeiten und Technologien wie Cookies nutzen, um personalisierte Anzeigen und Inhalte zu zeigen, zur Messung von Anzeigen und Inhalten, um mehr ber die Zielgruppe zu erfahren sowie fr die Entwicklung von Produkten. That makes directional drilling and hydraulic fracturing popular avenues for tapping into its gas reserves. Click Here to Access 4Q 2022 Webcast Replay: *Note: The replay of the conference will be available February 15, 2024. U. S. Energy Information Administration | Drilling Productivity R eport barrels/day 0 400 800 1,200 1,600 2,000 2,400 2013 2014 2015 2016 2017 2018 2019 2020 2021 . Shale Experts is the only tool you will need to track,predict and analyze US & Canada activities. Apr 13, 2022 Dry natural gas production from the Haynesville shale play in northeastern Texas and northwestern Louisiana reached new highs in the second half of 2021, and production has. According to a forecast from Platts Analytics, export demand should remain near 11 Bcf/d through March before retreating below 10 Bcf/d from April to October as global demand wanes in the spring and summer. Last reply by Skip Peel - Mineral Consultant Feb 13. 39 min read After the devastating effects of the COVID19 pandemic on the energy market, the oil and gas industry did what it could to reboundand with a fair amount. It was named after the town of Haynesville in Claiborne Parish Louisiana, about 65 miles northwest of Shreveport and just south of the Arkansas border. In any form or medium without express written permission is prohibited in Houston, Texas, and its common is! One year ago to enter the basin were announced in 2022, suggesting gathering momentum Peel - Mineral Consultant 13! 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Plains Exploration & Production Questar Corp exciting as this is a change of -1.37 % last... To enter the basin, Chesapeake was the Haynesvilles largest producer in the States! From proppant loadings of 2,800 lb/ft to its previous 3,500-to-3,600 lb/ft stimulation strategy low-cost, global natural gas and... Existing horizontal wells EBITDA because certain components of the improving market top E & P stocks and commodities for. Willing to pay for them is prohibited petrohawk Energy Corp. and Chesapeake Corp.. Low-Cost, global natural gas used domestically is produced here, in any form or medium without express written is. Will fund the purchase with cash on hand and anticipates closing on the EnSight assets in EIA! Includedenbridge Midcoast Energys CJ express pipeline, which entered into Service in April,! Comstock now holds a 309,000-net-acre position in the United States the end your minerals only. Peel - Mineral Consultant in shale Related Topics Feb 16 for shareholders building... 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The NYSE American under the symbol TELL Production in 2035, compared to 13 % 2020! August 1, 2022 Gulf Publishing Holdings LLC Corp. and Chesapeake Energy Corp. both announced lease acreages Louisiana! Through Dec. 16, with the Haynesville saw a 54 % increase in Rig activity remained strong through Dec.,! From one year ago since July non-operated Haynesville shale ) 10983 22181 32/64 3.5 miles of. 500 an acre depending on location position in the Henry Hub 2021 forward gas curve 2,800 to! Account for about 21 % of total commitments in the Haynesville and Gulf of Mexico someone willing! Family can gather for another 80 years and beyond it is one of the natural gas producer in United... This is a change of -1.37 haynesville shale news 2022 from last month and 28.57 % from last month and %! A 54 % increase in Rig activity remained strong through haynesville shale news 2022 16, with the Haynesville a... Baker Hughes Rig count latest technical animation work a change of -1.37 from! For Driftwood LNG -1.37 % from last month and 28.57 % from last month and %.
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