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Petrohawk, EXCO Report 'Monster' Wells In Haynesville Shale

Petrohawk Energy Corp. and EXCO Resources Inc. separately last week reported ramping up two "monster" natural gas wells in the Haynesville Shale in northwestern Louisiana. The results parallel reports by several other operators in the play.

Houston-based Petrohawk placed three new Haynesville Shale wells on production in November at a combined rate of 73 MMcfe/d, with one well delivering the highest reported initial production (IP) rate of any well in the company's history at 28.2 MMcfe/d. Dallas-based EXCO said its first Haynesville horizontal well had an IP rate of 22.8 MMcfe/d.

Energy analyst Tudor, Pickering Holt called the well rates "monsters" in a note to clients. Petrohawk, said the analyst, "continues to put up consistently high-end well results -- good for Petrohawk," but "not so much for the gas markets." And the IP rate reported by EXCO "reaffirms why we've kept EXCO a buy in our Armageddon basket of cheap stocks and confirms EXCO's in the heart of the play."

Petrohawk's record Sample 9 No. 1 well, located in Red River Parish, LA, was completed using a 30/64-inch choke and 7,100 pounds/square inch (psi) of flowing casing pressure. The well is about 12 miles from the gas-rich Elm Grove Field in northwestern Louisiana, and Petrohawk owns 100% working interest (WI).

Two other Petrohawk wells in Louisiana also were completed in November with high IP rates. The Brown 17 No. 4, in Bossier Parish, ramped up at an IP rate of 23.4 MMcfe/d on a 26/64-inch choke with 7,700 psi of flowing casing pressure. Petrohawk owns a 69% WI in the well. The Goodwin 9 No. 5 (97% WI), also in Bossier Parish, produced at an IP rate of 21.1 MMcfe/d, also using a 26/64-inch choke with 6,750 psi of flowing casing pressure.

Petrohawk, one of the top leaseholders in the play, expects to complete five more Haynesville Shale wells by the end of the year.

EXCO's record Oden 30H No. 6 well in DeSoto Parish, LA, was drilled vertically to a depth of 12,304 feet in the pilot hole where 180 feet of whole core was recovered. The horizontal target was selected, and the well was plugged back and drilled with a 4,481-foot lateral to a total depth of 16,083 feet.

"We completed the well with a nine-stage fracture stimulation treatment using 3.2 million pounds of proppant," EXCO officials said. The well was drilled using a 26/64-inch choke with 7,800 psi of flowing casing pressure.

EXCO owns 100% WI and 75% net revenue interest in the Oden well. The independent now has two operated horizontal wells, one vertical well and two outside operated horizontal wells in progress in the Haynesville play. It plans to drill 25 or more horizontal wells there in 2009.

Several producers operating in the emerging shale, which is said by some producers to extend into East Texas' Bossier Sands, have reported similarly high IP rates. Devon Energy Corp., now one of the largest leaseholders in the Haynesville/Bossier play, last month reported that two high-volume gas wells in its Haynesville Lime program in the Carthage area of East Texas ramped up with IP rates of 26 MMcf/d and 22 MMcf/d (see NGI, Nov. 10).

Chesapeake Energy Corp. in July it reported that eight of its first horizontal wells in the play tested at IP rates of 5-15 MMcf/d (see NGI, July 7). And Questar Exploration and Production completed its first horizontal well in Red River Parish in November, reporting an IP rate of 16 MMcfe/d on a 23/64-inch choke with 6,400 psi flowing casing pressure (see NGI, Dec. 1).

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