Haynesville

The oil/natural gas patch has seen much technological change since 2010 — the last time the U.S. Geological Survey (USGS) assessed the resources contained in the Bossier and Haynesville formations. Technology advancements have caused resource estimates for the Gulf Coast Basin plays to balloon.

Analysts with Raymond James & Associates Inc. have turned negative on U.S. natural gas prices beyond 2017, as faster-than-anticipated growth in supply, along with surprising gains in renewable power generation capacity, are expected to displace more demand than forecast only four months ago.

A “massive” supply surge in U.S. dry natural gas production should overwhelm domestic demand by 5 Bcf/d-plus beginning in 2018 from increased Marcellus/Utica shale pipeline takeaway capacity, growing associated supply mostly from the Permian Basin, and a modest recovery in the Haynesville Shale, Raymond James and Associates Inc. said Monday.

Successful drilling in the re-emerging Haynesville Shale was the highlight of 2016 for Frisco, TX-based Comstock Resources Inc. The company is sticking around in the North Louisiana play for more this year.

Oil and natural gas production from the nation’s seven most prolific unconventional plays will continue to edge higher in March, a third consecutive month of increases following an extended downturn, according to data from the Energy Information Administration (EIA).

The Permian Basin might be getting most of the rigs, and most of the press, but the Eagle Ford Shale is a “sleeper,” and rigs keep trickling back to the Haynesville Shale, too, Enterprise Products Partners LP executives said during a conference call Monday.

Comstock Resources Inc. credited its Haynesville Shale drilling program for a 47% increase in proved reserves achieved last year.

Comstock Resources Inc. said it and USG Properties Haynesville LLC have struck a joint development agreement for acreage prospective for the Haynesville Shale in Louisiana and Texas. The acreage was recently acquired by USG.

Chesapeake Energy Corp. said Tuesday that it has agreed to the second of two planned divestitures of noncore assets in the Haynesville Shale, selling 41,500 net acres to an affiliate of Dallas-based Covey Park Energy LLC for $465 million.