Moreover, estimating the most directly comparable generally accepted accounting principles (GAAP) measure with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Its looking like the new recipe works. 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. Prices for top E&P stocks and commodities. Information on assets, buyers and sellers, deal values, and more. It has gained momentum mostly due to the growing demand for natural gas to feed expanding LNG liquefaction and export facilities along the Louisiana and Texas Gulf coasts. Please take a look at our latest technical animation work! Stay in touch with our Daily Email Newsletter. The EnSight asset is a great fit with Tellurian's 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." (1) Management estimate of EnSight June 2022 average sales volumes of target assets. The Upper Jurassic (Kimmeridgian to Lower Tithonian) Haynesville and Bossier Shales of East Texas and northwest Louisiana are currently one of the most important shale-gas plays in North America, having high IPs, steep decline rates, EURs estimated at 3 to 7 Bcf per well of each formation, and play resources estimated together in the hundreds of trillions of cubic feet. Any unauthorized use of these images, including copying, is expressly prohibited and is subject to penalty under the Copyright Law of the United States, the Digital Millennium Copyright Act, and the various treaties to which the United States is a party. Executive Network Partnering Corporation,Granite Ridge Resources Inc. Grey Rock, ENPC Ink $1.3B Business Combination; Form Granite Ridge Resources, PHX Minerals Adds to Haynesville Royalty Acreage in $4.3MM Deal, Diversified Energy Bolts On Producing East TX Assets for $50 Million, PHX Minerals Picks Up Royalty Acreage in the Haynesville, Bossier, Pine Wave Sells Producing Haynesville Assets to PE-Backed Firm, PHX Minerals Inks $5.8MM Deal for Haynesville Royalty Assets, Paloma Partners to Acquire Goodrich for $480 Million; Take Company Private, Oaktree Capital Management,Diversified Energy Company plc, Diversified Energy, Oaktree Sells Haynesville Interest for $72.8MM, 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. The forward-looking statements in this press release speak as of the date of this release. Information on assets, buyers and sellers, deal values, and more. In the end your minerals are only worth what someone is willing to pay for them. Read More, Badges Report an Issue Terms of Service. 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, See FULL list of The Company is also pleased to announce that it has received multiple new drill notifications on some of its Haynesville Shale acreage by operators including Comstock Resources and Vine Energy.. 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. This is a change of -1.37% from last month and 28.57% from one year ago. 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. Started by M B Gilster in Shale Related Topics. All rights reserved. . The average initial production rate of these wells was 24 MMcf per day and had an average completed lateral length of 9,288 feet. Comstock also spent $7.9 million on leasing activity. Daten ber Ihr Gert und Ihre Internetverbindung, wie Ihre IP-Adresse, Browsing- und Suchaktivitten bei der Nutzung von Yahoo Websites und -Apps. 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. The effective date of the transaction is August 1, 2022. In its latest Drilling Productivity Report (DPR), published Monday, the agency modeled, Employment in the U.S. oilfield services and equipment sector (OFS) advanced in January along with an overall surge in jobs to start the new year. Natural gas production in the Haynesville declined steadily from mid-2012 until 2016, due to its relatively higher cost to produce natural gas compared with other producing areas, according to the EIA report. 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), Southwestern Energy 4Q, Full Year 2022 Results; Talks 2023 Plans, Chesapeake Energy Q4, Full Year 2022 Results; IDs $1.8B 2023 Capex, Top Haynesville E&P Cuts 2023 Drilling Program By 22%, Chesapeake Energy Third Quarter 2022 Results, Comstock Resources Third Quarter 2022 Results. State of Shale 2023, Haynesville: A Slumbering Giant? Blue Dome Operating LLC BXP Operating Company Brix Operating LLC Cabot Oil & Gas Spot prices for liquefied natural gas (LNG) delivery in Asia jumped to a six-year high this week aslower-than-normal temperatures in key LNG importers and continued growth inChinas industrialactivity boost demand., Aethon Energy Operating LLC Anadarko Petroleum Berry Petroleum Beusa Energy BG Group This Upper Jurassic age formation was deposited about 150 million years ago in a shallow offshore environment. . 32 Bcf/d total natural gas production. 2023-02-26 - U.S. oil rigs fell seven to 600 this week andgas rigs stayed unchanged at 151,still up 103 rigs, or 15.8%, over this time last year. 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. Started by Rebecca Lane in Shale Related Topics. 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. 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. Madison Ratcliff is an associate editor for Hart Energy's editorial team. 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. That makes directional drilling and hydraulic fracturing popular avenues for tapping into its gas reserves. 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. All rights reserved. Posted by Skip Peel - Mineral Consultant on February 24, 2023 at 18:14 in Shale Related Topics; View Discussions Analysts from J.P. Morgan found in its September JPM Natural Gas Reservoir report a 54% increase in Haynesville rig activity from the 46 average count in 2021 to 71 in the first half of 2022. While prices could be volatile on the downside, we expect the Haynesville (ArkLaTex Basin) to ultimately play a . Earnings and Operations Update Call. Located in northwestern Louisiana and sprawling into eastern Texas, the Haynesville Shale play was thrust into the spotlight in March 2008. As of December 2020, the number of working rigs is up 25% in the Haynesville since July 2019. On the other hand, crude oil production in the shale is expected to maintain flatter recovery . 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). ShaleTech: Haynesville-Bossier Shales Controlled by Jerry Jones, the flamboyant owner of the National Football League (NFL) Dallas Cowboys, Comstock became a premier Haynesville operator with the $2.2-billion acquisition of pure play firm Covey Park Energy LLC in July 2019. Well-log interpretation of the Haynesville Shale showed that conventional resistivity-porosity-saturation models underestimate hydrocarbon saturation in zones with high concentrations of kesogen. With the 2018 acquisition ofHaymaker Minerals & Royalties,LLC, the mineral and royalty company now holds non-operating interests in roughly 786,400 gross (7,700 net) Haynesville acres. Quantum Energy Partners-backed Rockcliff Energyproduces more than 1Bcf/d of naturalgasfrom East Texas' Haynesville shale formation. Dec 18, 2020, 10:00 AM CST Haynesville production accounted for about 13% of all U.S. dry natural gas production in February 2022, she said. The Company is unable to present a reconciliation of forward-looking asset-level EBITDA because certain components of the calculation are subject to change. Not receiving royalties. After reaching record-high production in 2021, the Haynesville Shale seemed to have a quiet2022, with a smattering of deal activity and attention seemingly focused more on LNG exports than production. Scott said a Norwegian energy research firm, Rystad, is projecting gas production in the natural gas play to ramp. Total 2022 production from a 501,000-net-acre position in the southwestern core of the Marcellus-Utica is expected to range from 3.2 Bcfed to 3.3 Bcfed. Last reply by Skip Peel - Mineral Consultant on Sunday. Last reply by Skip Peel - Mineral Consultant 9 hours ago. 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! Posted by Keith Mauck (Site Publisher) on December 4, 2020 at 10:08. As one of the safest and cleanest fuels available, it has become the fuel of choice for American homes and industries. For more information, please visit www.tellurianinc.com. The productive interval of the shale is greater than 10,000 feet below the land surface. Klicken Sie auf Einstellungen verwalten um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten. 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). 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 region is forecast to account for about 21% of the countrys gas production in 2035, compared to 13% in 2020. Comstock Resources is putting modern horizontals and frac jobs into the deep Bossier, long known to be a super-stocked natgas tank. Last reply by Skip Peel - Mineral Consultant Feb 22. The Haynesville is set to become the largest source of gas output growth in the US, forecast to add about 10 Bcfd from 2020 to 2035, growing by 86% during that timeframe. Operators in the Haynesville shale play are proud of the role they are playing in powering America and allies abroad. OFS employment rose by an estimated 3,069 jobs to 652,090 last month, according to an analysis of federal data by the Energy Workforce & Technology Council. Patterson-UTI Expects +50 Rigs To be Added in 2023; PE-backed E&P To Lead. (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 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. 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. New York Haynesville gas production is surging into the new year, climbing to its highest in nearly eight months, as operators there respond to a bullish outlook for the basins strategically located supply. EVP Public and Government Affairs 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. Created Date: 20230223161325-06 . 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. Started by Skip Peel - Mineral Consultant in Shale Related Topics. Driven by newer technology, operators have extended lateral lengths from 4,500 feet to 7,500 feet with higher proppant intensities per foot. The Haynesville shale of northeastern Texas and northwestern Louisiana is the third-largest shale gas-producing play in the United States. Summary The Haynesville Shale is the third-largest natural gas play in the US by production,. The Haynesville discovery well was drilled by Chesapeake Energy in Desoto Parish in March 2008. Upon closing of the transactions, Chesapeake plans to operate two rigs on the acquired properties during 2022, resulting in a total of 9 - 11 gas-focused rigs and 2 - 3 oil-focused rigs. Sign in to get the best natural gas news and data. 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 . 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. 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.. The Haynesville averaged 11.2 Bcf/d in 2021. 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. In addition, the associated expansion of Enterprise's Acadian Haynesville Extension entered into service in December 2021. Favorable geologic composition for Hydraulic fracturing,recompletions and refracs of existing horizontal wells. 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. The Company had 29 drilled but uncompleted wells at year-end. 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. 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. Need to explain enhanced oil recovery, stacked pay or oil investments in unconventional oil? 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. It remains poised to see a production growth of 5 Bcfd or . 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. "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. Enverus data showed that of the companys 1.23 MMboe/d produced in the half, 365,766 boe/d came from its Haynesville operations, with 2.19 Bcf/d of the 6.98 Bcf/d total produced coming from the Haynesville as well. 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. 2023 Shale Experts, All rights reserved. Washington DC | New York | Houston | Pittsburgh | Mexico City Calgary | Chile. 2022 Pipeline & Gas Journal, 2022 Gulf Publishing Holdings LLC. East Daley recently predicted sub-$2 natural gas prices as a result of oversupply in 2023. Williams announced an expansion of gas gathering services for Chesapeake Energy in growing dry gas production areas of the Utica Shale in eastern Ohio and a co The U.S. will become the biggest seller of the super-chilled fuel in 2025., As reported by oilprice.com the top news story and the . In the Haynesville, weve made significant strides with midstream capacity, CEO Nick DellOsso said on the earnings call. Shale Experts is the only tool you will need to track,predict and analyze US & Canada activities. Last reply by Gayila B Feb 16. 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. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. Started by Skip Peel - Mineral Consultant in Shale Related Topics on Saturday. Phone +1.832.962.4044 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. STEP was profitable in all four quarters in 2022 - a sign of meaningful progress for the Company and the energy business broadly. The agency said in its latest Drilling Productivity Report (DPR), published Tuesday, that it expects natural. The Haynesville Shale is a prolific, dry, natural gas-bearing play that stretches across east Texas, northwestern Louisiana. matthew.phillips@tellurianinc.com. Haynesville natural gas production accounted for about 13% of all U.S. dry natural gas production in February 2022. A surprise standout in the EIA's report was Florida. 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. The Haynesville royalties are in the core of the basin, WhiteHawk said, adding that its position will cover 375,000 gross unit acres in northwestern Louisiana. (2) Asset-level EBITDA excludes corporate general and administrative expenses. Natural gas is utilized by all sectors: residential, industrial, commercial,transportation and electric power. From a 501,000-net-acre position in the end your minerals are only worth what someone is willing pay! And data Consultant 9 hours ago, Haynesville: a Slumbering Giant production, on. Present a reconciliation of forward-looking asset-level EBITDA excludes corporate general and administrative expenses Shale play thrust! From last month and 28.57 % from one year ago was profitable in all four quarters 2022. 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