We've increased our gathering and treating capacity by 25% for this year and up to 60% in out years.. State of Shale 2023, Haynesville: A Slumbering Giant? The oil-dominant Permian Basin, a major source of associated gas, averaged 12.4 Bcf/d for all of 2021, making it the second-highest producing play. CALGARY, Alberta, March 01, 2023 (GLOBE NEWSWIRE) -- STEP Energy Services Ltd. (the "Company" or "STEP") is pleased to announce its financial and operating results for the three and twelve months ended December 31, 2022. East Daley recently predicted sub-$2 natural gas prices as a result of oversupply in 2023. 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. Will 2022 be the beginning of a serious resurgence in the Haynesville Shale? The assets span approximately 5,000 net acres in the core of the Haynesville Shale in Louisiana's DeSoto, Bossier, Caddo and Webster parishes, boosting Tellurian's Haynesville Shale footprint to . 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. 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. That project, which Energy Transfer gained via its acquisition of Enable Midstream in December 2021, is backed by a 20-year agreement with the $10 billion Golden Pass LNG export plant now under construction in Texas by QatarEnergy (70%) and Exxon Mobil (30%) . Despite the pandemic, US power generation from natural gas increased 9% in January to June 2020 over the same period for 2019. 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. Total production. The US week in brief report highlights the need-to-know events from US upstream. 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. Unleased acreage can be below $500 an acre to $3,000 an acre depending on location. Sie knnen Ihre Einstellungen jederzeit ndern. 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. The Company had 29 drilled but uncompleted wells at year-end. 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. 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. In the end your minerals are only worth what someone is willing to pay for them. (1) Management estimate of EnSight June 2022 average sales volumes of target assets. Richardson, TX 75081. The effective date of the transaction is August 1, 2022. Believing that transparent markets empower businesses, economies, and communities, Natural Gas Intelligence (NGI) provides natural gas price transparency and key news, insights and data for the North American energy markets. "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.". 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. In fact, in 2019, US consumption set a new, record high of 31 Trillion cubic feet of gas. 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. More than 2,500 Subscribers rely on our data each day. 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 Last reply by Hale Yayuh Feb 14. Tellurian to Acquire Haynesville Assets from EnSight for $125 Million July 13,2022 PE-Backed Clearfork to Acquire Azure Midstream January 19,2022 New Midstream Co. Secures Capital from EnCap Flatrock January 19,2022 Enable Midstream Gets Approval for Gulf Run Pipeline June 02,2021 More Midstream News Latest Midstream Projects This STOCK U.S. LNG Export Map is Available for License Last reply by Skip Peel - Mineral Consultant on Sunday. Need to explain enhanced oil recovery, stacked pay or oil investments in unconventional oil? No problem. 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. ", (source: U.S. Energy Information Administration), (Source: EIA, based on data from CME Group as compiled by Bloomberg, L.P., and Baker Hughes Company). Shale Experts is a Members ONLY resource. The company will maintain a disciplined capital reinvestment strategy, anticipating a 2022 reinvestment rate of approximately 47%. All rights reserved. 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. 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. 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. Log in here Subscribe now to get unmatched and complete coverage of the Energy industry's entire landscape! Phone +1.832.320.9331 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). Tellurian President and CEO Octvio Simes said, Tellurian continues to focus on two critical pathways - progressing Driftwood LNG and continuing to increase our upstream footprint. That figure suggests excess takeaway capacity out of the Haynesville is at or below 900,000 Mcf/d, or about 7% of total capacity. Started by DCT in Shale Related Topics yesterday. We have Oil & Gas STOCK Photographs In addition to its overall size, the Haynesville is known for its high porosities. (6) Management estimate for 2023 based on a capital budget of ~$330 million that has not been approved by the Tellurian board of directors. Well-log interpretation of the Haynesville Shale showed that conventional resistivity-porosity-saturation models underestimate hydrocarbon saturation in zones with high concentrations of kesogen. Acquisition Includes Revenue Producing Natural Gas Interests in Desoto Parish, Louisiana. Sources for the news stories include company press releases, industry events, press coverage, and our . Comstock also spent $7.9 million on leasing activity. We were aggressive on gas and everybody hated it, CEO Robert Ravnaas said. A searchable database of oil and gas debt and equity offerings. By comparison, wells in the Marcellus in the Appalachian Basin are shallowerbetween 4,000 feet and 8,500 feet," Fleury wrote. Southwestern Energy Announces Fourth Quarter and Full Year 2022 Results; Provides 2023 Guidance. Natural gas production was above 82 Bcf/d, bringing it on par with the record high in November 2019. 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. Look, experience and, Location 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 basin covers parts of Texas, Arkansas and Louisiana. 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. 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 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. 2023 Shale Experts, All rights reserved. Indigo will operate five to six rigs and no less than one dedicated frac crew next year on the 435,000 net acres under control. 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. Natchitoches Ouachita Red River Sabine Webster, Angelina Cherokee Gregg Harrison Marion Nacogdoches Panola Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Shale thickness ranges from 200 to 350 feet at producing depths of 10-14,000ft+. 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. Summary The Haynesville Shale is the third-largest natural gas play in the US by production,. The average initial production rate of these wells was 24 MMcf per day and had an average completed lateral length of 9,288 feet. 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. It is one of the most revenue-generating shale plays in the U.S. In addition, the associated expansion of Enterprise's Acadian Haynesville Extension entered into service in December 2021. joi.lecznar@tellurianinc.com, Investors: Started by JAMES SMITH in Shale Related Topics. Powered by, Badges | 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. Haynesville natural gas production accounted for about 13% of all U.S. dry natural gas production in February 2022. 2023 Hart Energy. 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 Available forLicense (Click here to inquire), This STOCK Gulf Coast Natural GasPipeline Map Discussing the Austin Chalk, Haynesville Shale, Terryville Complex, Tuscaloosa Shale & Lower Smackover Brown Dense plays. Please check your browser settings or contact your system administrator. Natural gas is an abundant resource across the United States. 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. 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. "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. 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. According to GlobalData, natural gas production in the Haynesville shale is projected to grow at CAGR of 3% during 2021-25. Shale Experts offers the most COMPLETE coverage of the Haynesville Shale. 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. In addition to its overall size, the Haynesville is known for its high porosities. Dies geschieht in Ihren Datenschutzeinstellungen. 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. $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. The Man Who Sold to Chesapeake. 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. 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. Range was the very first . 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. HOUSTON--(BUSINESS WIRE)-- Supporting local gas development, at least six U.S. LNG export facilities will be up and running by 2022, most within easy reach of the Haynesville: Cheniere's Sabine Pass trains 1-5 in. 5 min read This article was originally published on ETFTrends.com. 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. Report an Issue | 2023-01-09 - Rmerberg 6 is predicted to increase Neptunes production in Germanys Rhine Valley to approximately 3,700 boe/d. Started by Skip Peel - Mineral Consultant in Shale Related Topics Feb 16. Nov 2022 - Feb 2023 4 months. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. An abundant resource across haynesville shale news 2022 United States and 8,500 feet, '' Fleury wrote frac. 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