Haynesville

Patterson-UTI Sees ‘Renewal of Optimism’ in Onshore Drilling Market

North American onshore drilling contractor Patterson-UTI Energy Inc. (PTEN) has seen an uptick “in all segments” but it’s particularly strong in the Marcellus, Haynesville and Bakken shale plays, the company’s management team said Thursday.

February 12, 2010

Patterson-UTI Sees ‘Renewal of Optimism’ in Onshore Drilling Market

North American onshore drilling contractor Patterson-UTI Energy Inc. (PTEN) has seen an uptick “in all segments” but it’s particularly strong in the Marcellus, Haynesville and Bakken shale plays, the company’s management team said Thursday.

February 12, 2010

Industry Briefs

CenterPoint Energy Gas Transmission Co. (CEGT) has entered into two separate firm transportation agreements to transport Chesapeake Energy Corp.’s Haynesville Shale natural gas. CEGT, the interstate pipeline subsidiary of CenterPoint Energy Inc., owns and operates Line CP, a 1.55 Bcf/d pipeline that extends from Carthage, TX, to the Perryville Hub in Louisiana. Under the agreements with Chesapeake Energy Marketing Inc., CEGT will transport gas on both a forward-haul basis to CEGT’s Perryville Hub and on a backhaul basis to Carthage. The 27-month backhaul agreement provides for firm transportation volumes to ramp up to 500 MMcf/d. The long-term firm forward-haul agreement provides for 230 MMcf/d of capacity, effective when CEGT’s Phase IV Line CP compression expansion goes into service, currently projected for April 2010. CEGT said its application for the Phase IV expansion has been filed with the Federal Energy Regulatory Commission (FERC). To fulfill the forward-haul requirements of the agreement, CEGT said it would add a compressor to each of Line CP’s Westdale Compressor Station in Red River Parish, LA, and Vernon Compressor Station in Jackson Parish, LA. The expansion would add 274 MMcf/d of capacity to CEGT’s Line CP, bringing the total year-round capacity to more than 1.8 Bcf/d. CEGT previously held an open season for expansion of Line CP’s capacity (see NGI, June 30, 2008). It also is evaluating proposals for the remaining 44 MMcf/d capacity in the Phase IV expansion and said it plans to execute definitive service agreements before the project is placed in service in 2010.

March 9, 2009

CenterPoint to Move Chesapeake’s Haynesville Shale Gas

CenterPoint Energy Gas Transmission Co. (CEGT) has entered into two separate firm transportation agreements to transport Chesapeake Energy Corp.’s Haynesville Shale natural gas, the companies announced late Monday.

March 4, 2009

Industry Briefs

The Louisiana Oil and Gas Association (LOGA) has launched a website section dedicated to the state’s Haynesville Shale. The section will provide information about drilling and leasing activity in the emerging natural gas field, located in northwestern Louisiana, according to LOGA’s Gifford Briggs. LOGA also has a forum about the shale play on its website, which will be moderated by LOGA staff “with no financial interests in the shale,” said Briggs. Jodee Niswanger also was tapped to serve as LOGA’s North Louisiana director and will be based in Shreveport, LA.

August 28, 2008

Industry Briefs

Oklahoma City-based GMX Resources Inc. plans to begin a drilling program in its Haynesville Shale and Bossier Shale holdings during 3Q2008. At 80-acre density, GMX estimates it would have five years of development on its 27,500 net acres. GMX plans to bump up its capital spending in 2008 to $271 million from $195 million, which would allow it to drill up to four to six net horizontal wells in the shale acreage. The new capital expenditure budget includes acreage acquisition costs, infrastructure build-out and equipment upgrades in East Texas and northwestern Louisiana. The company also increased its 2008 guidance for discretionary cash flow to $100 million, up from $80 million. Revenue is now forecast at $140 million, down from $125 million. In addition, production is seen to increase to 7.8 Bcfe in the second half of 2008 and is forecast to be 13.8 Bcfe for the full year. Daily production rates are expected to be 60 MMcfe/d by year’s end, up from previous guidance of 42 MMcfe/d.

July 8, 2008
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