EVP Public and Government Affairs The agency said in its latest Drilling Productivity Report (DPR), published Tuesday, that it expects natural. Prices for top E&P stocks and commodities. Report an Issue | 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 . matthew.phillips@tellurianinc.com. 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. Register for free to Reuters and know the full story Williams said it expects LEG to enter service in late 2024. For Haynesville producers, current prices offer a generous margin to sustain future growth. $476.9 million was spent to develop its Haynesville and Bossier shale properties, comprised of $436.1 millionon drilling and completing wells and an additional $40.8 million on other development activity. Panola Rockcliff Energy Operating LLC. 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. 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. Richardson Lagrone HV Unit D/4H Carthage (Haynesville Shale) 10983 22181 32/64 3.5 miles south of DeBerry. 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. In January, total US feedgas demand has remained at a record-high 11 Bcf/d as US exporters look to capture multiyear highs in Northeast Asias import market where the JKM settled Jan. 6 at nearly $20/MMBtu amid a regional cold snap and a surge in Japanese power prices. The company produced a total of 314,483 boe/d, 28 bbl/d of oil and 1.88Bcf/d of gas in the Haynesville in the first half of 2022. Last reply by Rebecca Lane Feb 16. We hope you enjoyed your trial to the website. Last reply by Skip Peel - Mineral Consultant Feb 13. Since its last operational update, Comstock completed an additional 20 (17.7 net) Haynesville shale wells. 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. US tight oil production was flat m-o-m in June, at 7.3 million b/d (after upcoming revisions). Operating three rigs and two completion . While mild winter weather and elevated storage volumes have since dampened the outlook for prices, a modest recovery in the forward curve has taken hold since late December as forwards traders reconsider the steep and sustained selloff. Unauthorized distribution, transmission or republication strictly prohibited. Your daily news has saved me a lot of time and keeps me up-to . It remains poised to see a production growth of 5 Bcfd or . As lower US production continues to put domestic supply under pressure, record LNG feedgas demand at terminals along the Gulf Coast has compounded the tighter market balance, making the Haynesvilles Texas-Louisiana location strategically well placed to benefit. 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. A searchable database of oil and gas debt and equity offerings. The Barnett remains No. 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. Nov 2022 - Feb 2023 4 months. 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. 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 ", (source: U.S. Energy Information Administration), (Source: EIA, based on data from CME Group as compiled by Bloomberg, L.P., and Baker Hughes Company). We were aggressive on gas and everybody hated it, CEO Robert Ravnaas said. Upgrade now. The. Unleased acreage can be below $500 an acre to $3,000 an acre depending on location. The forward-looking statements in this press release speak as of the date of this release. 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. It is one of the most revenue-generating shale plays in the U.S. The Houston company behind the massive project has agreed to. Database of selected U.S. and international exploration wells. Started by Skip Peel - Mineral Consultant in Shale Related Topics Feb 22. In the first 6 months of this year, fewer than 4 thousand horizontal wells came online in all the US shale basins, the lowest number . The images presented hereon are the subject of federal copyright registration. In addition to its overall size, the Haynesville is known for its high porosities. Last reply by Keith Mauck (Site Publisher) Feb 16. The company will maintain a disciplined capital reinvestment strategy, anticipating a 2022 reinvestment rate of approximately 47%. info@naturalgasintel.com This site was born out of these desires. 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. More recently, Energy Transfer said it has started construction of the 1.65 Bcf/d Gulf Run pipeline to move gas from the Louisiana Haynesville to the Gulf Coast. A searchable database of oil and gas debt and equity offerings. 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. Drilling and finishing a conventional horizontal Haynesville well typically costs between US$7 million and $8 million, largely depending on lateral length, drilling costs, and pressure pumping services. Oil Rig Drawing Well Logging Blowout Preventor Salt Water Disposal, Drilling Geology Illustration available for license. https://www.businesswire.com/news/home/20220712006148/en/, Current net production of ~45 million cubic feet of natural gas per day (MMcf/d) (100% natural gas), Approximately 5,000 net acres in the core of the Haynesville Shale in DeSoto, Bossier, Caddo, and Webster Parishes, Louisiana, 44 producing wells and five wells in progress at transaction close, Low-cost, high-margin producing assets generating significant free cash flow, Asset-level projected 2023 EBITDA of approximately $90-120 million, High return, de-risked drilling inventory with over 30 gross drilling locations, EnSight is currently operating a one-rig drilling program, which Tellurian plans to maintain on the acquired assets through the fourth quarter of 2022, Proved reserves of approximately 108 billion cubic feet of natural gas (Bcf) and a $180 million PV-10 projected, 2022 proforma net production estimated to be ~140 MMcf/d, from 39 MMcf/d in 2021, At closing, TPCs Haynesville Shale acreage increases to ~20,000 net acres, with >275 gross drilling locations and a net resource expected at >2 trillion cubic feet (Tcf), Tellurian anticipates TPC 2023 drilling program to be a two-rig program with approximately 350 MMcf/d of net production. Some 500 ft shallower and with associated lower temperatures, Vines mid-Bossier wells are trending drainages as high as 2.5 Bcf/1,000 ft, and at completed well costs of $2.75 million for 7,500-ft laterals, they deliver from 50% to 60% return rates. Forward-looking statements herein relate to, among other things, the capacity, timing, and other aspects of the Driftwood LNG project, the timing and anticipated benefits of the EnSight acquisition, future production, costs, cash flows, returns and asset-level EBITDA, and future capital expenditures, wells, locations and development activities. Available forLicense (Click here to inquire), This STOCK Gulf Coast Natural GasPipeline Map Haynesville production accounted for about 13% of all U.S. dry natural gas production in February 2022, she said. Started by Ellen Eakin in Shale Related Topics. In addition to its overall size, the Haynesville is known for its high porosities. The effective date of the transaction is August 1, 2022. To get full access now. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. Started by Skip Peel - Mineral Consultant in Shale Related Topics on Saturday. 1 in Chesapeakes portfolio, but the Haynesville Shale could be even bigger someday, then-CEO and chairman of Chesapeake, the late Aubrey McClendon, said at IPAAs 2008 Oil & Gas Investment Symposium in New York. 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. 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. Last reply by Skip Peel - Mineral Consultant on Sunday. 32 Bcf/d total natural gas production. 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. Need to explain enhanced oil recovery, stacked pay or oil investments in unconventional oil? Natural gas is utilized by all sectors: residential, industrial, commercial,transportation and electric power. East Daley recently predicted sub-$2 natural gas prices as a result of oversupply in 2023. Favorable geologic composition for Hydraulic fracturing,recompletions and refracs of existing horizontal wells. During the year ended December31, 2020, Comstock turned 76 (43.7 net) Haynesville shale wells to sales and currently expects to turn 14 (13.0 net) operated wells to sales in the first quarter of 2021. But indications are that the third-largest producing gas shale in the U.S. is geared up for a robust 2023 if commodity prices hold. . In the Haynesville, weve made significant strides with midstream capacity, CEO Nick DellOsso said on the earnings call. Following the fallout in commodity prices last March, the Haynesville is now the only major US shale basin to have fully recovered its drilling fleet. The Haynesville shale basin covers parts of Texas, Arkansas and Louisiana. Camterra Resources Chesapeake Energy Cobra Oil & Gas Corporation Cohort Energy Comstock Resources This process reduces the volume of the liquid to 600 times smaller than the gaseous form making it possible to move natural gas where no pipelines exist and to use it as a fuel for transportation. 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. 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. In Other Fourth Quarter (4Q) Update news. Last reply by Skip Peel - Mineral Consultant 10 hours ago. This is a change of -1.37% from last month and 28.57% from one year ago. Not receiving royalties. Comstocks completed well costs are averaging less than $1,000/lateral ft but will likely increase as better prices justify longer laterals and greater completion intensity. Started by Skip Peel - Mineral Consultant in Shale Related Topics. Well-log interpretation of the Haynesville Shale showed that conventional resistivity-porosity-saturation models underestimate hydrocarbon saturation in zones with high concentrations of kesogen. 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). "Years of relatively low natural gas prices meant it was less economical to drill deeper wells," the report continued. Recent gas pipeline scrapes are running ahead of expectations, reaching record highs of ~99.3 Bcf/d in September, with MTD gas production estimated at 98.7 Bcf/d, which compares to the August average of 97.7 Bcf/d and the September 2021 average of 92.7 Bcf/d, the analysts stated. Started by Skip Peel - Mineral Consultant in Shale Related Topics Feb 11. HOUSTON, September 22, 2022 (PRNewswire) - M6 Midstream ("Momentum" or "the Company") today announced a final investment decision ("FID") on its new natural gas gathering and carbon capture project, New Generation Gas Gathering ("NG3"), which will gather natural gas produced in the Haynesville Shale for re-delivery to premium . In the basin, it also produced 2 Bcf/d of its total reported 5.19 Bcf/d across the combined Haynesville and Appalachian assets. Natural Gas Corporate Earnings Call list - 4Q2022, 2023 North American Pipeline, LNG & Market Hubs Map, Tellurian Could Lose Gunvor SPA as Focus Shifts to Finding Equity Partners for Driftwood LNG, Comstock Prepping for Increased LNG Supply Demand with Freeports Return, Lower Natural Gas Prices Lead Comstock to Cut Rigs in Haynesville, EIA Sees Continued Onshore Natural Gas Production Growth in March, Paced by Haynesville, Lower 48 Plays to Add 400 MMcf/d of Production from February to March, EIA Says, Oilfield Services Jobs Top 650,000, Reach Pandemic-Era High, Kinder Morgans Haynesville Natural Gas Gathering Volumes Jump 44%, North American E&P Spend to Increase 14% in 2023; Maintain in Appalachia, Grow in Haynesville, Lower 48 Natural Gas, Oil Permitting Rebounds in December, Led by Texas and Wyoming, Haynesville Still Leading Natural Gas Production Gains in Latest EIA Projections. According to World Oil Global LNG trade will rise 21% by 2025 from 2019, reaching 585 billion cubic meters. 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. One of the first operators to enter the basin, Chesapeake was the Haynesvilles largest producer in the first half. U.S. Supreme Court declines to hear oil firms' appeal of coastal lawsuit ruling, The Race to Debottleneck U.S. LNG Feedgas Routes, Aethon mails checks for two new Titan wells, Promised Land Official Trailer #1 (2012) - Matt Damon Movie HD, U.S. NATURAL GAS MONTHLY SETTLEMENT PRICE TRACKER, Southwestern Energy Announces Fourth Quarter and Full Year 2022 Results; Provides 2023 Guidance, U.S. LNG producers poised to leapfrog rivals with three new projects. 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. Jul 13, 2022 The planned Driftwood LNG facility will be capable of producing up to 27.6 million tons of liquefied natural gas a year. 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? Both natural gas and crude oil commodities are being forecasted to maintain an upward trend throughout 2022-25. Natural gas is also reliable and flexible, used in many industrial processes that produce a wide range of materials and goods such as glass, steel, plastics, pharmaceuticals, food products and clothing. Naturally high-pressured reservoir raises gas to the surface,reducing initial artificial lift and associated costs. 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. How can one enforce the No-cost clause in a lease? 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. Last reply by O & G Professional Feb 16. Ravnaas said others are taking notice of the improving market. EnSight asset highlights: Current net production of ~45 million cubic feet of natural gas per day (MMcf/d) (100% natural gas) (1) Approximately 5,000 net acres in the core of the Haynesville Shale in DeSoto, Bossier, Caddo, and Webster Parishes, Louisiana 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. After reaching record-high production in 2021, the Haynesville Shale seemed to have a quiet 2022, with a smattering of deal activity and attention seemingly focused more on LNG exports than production. 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. Natural gas is an abundant resource across the United States. Last reply by Hale Yayuh Feb 14. Started by Skip Peel - Mineral Consultant in Shale Related Topics. Weve also drilled our second well in this region, which is near the Circle M called the KC Block [ph], which was successfully drilled and completed that is expected to be turned to sales this month, Allison said. 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. EnSight asset highlights: Current net production of ~45 million cubic feet of natural gas per day (MMcf/d) (100% natural gas) (1). This event is the meeting place to network and gather market intelligence from . These 3D oil and gas graphics are from many projects we have created up to this point. No problem. Started by Skip Peel - Mineral Consultant in Shale Related Topics. 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. Vice President, Investor Relations Stay in touch with our Daily Email Newsletter. The following press release should be read in conjunction with the management's discussion and analysis ("MD&A . The effective date of the transaction is August 1, 2022. Prices for top E&P stocks and commodities. Haynesville natural gas production accounted for about 13% of all U.S. dry natural gas production in February 2022. Sign in to get the best natural gas news and data. 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. Some of the worlds largest petrochemical complexes and LNG export facilities are located on the Texas and Louisiana gulf coast near the Haynesville Shale play. "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. Click here to Upgrade And Get Immediate Access. Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Look, experience and, Location The Company is unable to present a reconciliation of forward-looking asset-level EBITDA because certain components of the calculation are subject to change. A surprise standout in the EIA's report was Florida. The map above illustrates the many countries worldwide that receive exports from LNG carriers transporting from four of the US Gulf Coast area LNG terminals. 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. 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. 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. 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. 2023-01-12 - Equinor experienced a power outage at the Johan Sverdrup oilfield, leading to a reduced production rate for two consecutive days. The region is forecast to account for about 21% of the country's gas production in 2035, compared to 13% in 2020. 2023 Shale Experts, All rights reserved. 1723 Analog Dr. Started by todd graham in Shale Related Topics. 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. Sie knnen Ihre Einstellungen jederzeit ndern. 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. Petrohawk Energy Corp. and Chesapeake Energy Corp. both announced lease acreages in Louisiana, sparking a flood of interest to the region. 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. (6) Management estimate for 2023 based on a capital budget of ~$330 million that has not been approved by the Tellurian board of directors. Unauthorized distribution, transmission or republication strictly prohibited. (Click here to inquire). In fact, in 2019, US consumption set a new, record high of 31 Trillion cubic feet of gas. Read More, Badges Report an Issue Terms of Service. 2021 Tellurian Inc. All Rights Reserved. 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. 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! The Haynesville Shale's overpressurization is one of its key properties, which has helped to produce some extremely high initial production rates. 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.