I receive many emails per week asking confirmation of the many rumors that are circulating. For the purpose of addressing those in a more efficient manner, I'll be posting this new segment, "As The Tuscaloosa Turns", when the "rumor mill" appears to be overly excited. Keep in mind that these are unconfirmed rumors from questionable sources. Believe at your own risk. With that said, TT (aka "Tuscaloosa Trend"), will respond to some recent hot topics:
RUMOR: Is it true that Shell and Encana have signed a joint venture in the TMS?
TT: Multiple sources state that on April 24 in Denver, the two companies did meet and that a joint venture might have been signed or at least agreed upon. It seems logical since the two companies were partners in the Haynesville and activity in that region has slowed dramatically. Encana's stock showed some activity after 4/24 which might indicate that insiders were pleased with the result. Further rumors state that Shell landmen landed in the Amite County courthouse last week. Some believe that Encana and Goodrich will be working more closely together in the future. Stay tuned.
RUMOR: Is it true that Devon and Sinopec might also be involved more closely with Encana from a financial standpoint.
TT: I have heard that but it doesn't make much sense to me since they already have a position in the play. I hear that Devon and Encana are sharing technical data and allowing each other's staff on their rig locations. So that was the "Four Horsemen" reference!
RUMOR: Is it true that Toyota might also be involved with Encana?
TT: Toyota Tsusho Corp has partnered with Encana recently in a coalbed methane project. Some rumors have circulated that Toyota might also fund some of Encana's TMS project. Ahh, the "Land Cruiser" now makes sense.
RUMOR: Is it true that McMoRan has partnered with Stone Energy in the TMS?
TT: Stone is definitely leasing in the play, but the McMoRan rumor is unconfirmed. Stone appears to be leasing in northern Wilkinson and Amite Counties.
RUMOR: Is it true that the Anderson well is flowing 2000 bopd?
TT: No, but I hope it will soon.
RUMOR: Is it true that EOG has a well planned in Vernon Parish?
TT: I have heard that from a few sources.
RUMOR: Is it true that Chevron offered Encana $16 billion for their Haynesville position and they declined?
TT: Now that's a wild one! I don't follow the Haynesville closely, but that would be interesting. Maybe Chevron is "bottom fishing" for cheap gas to add to their Marcellus position.
RUMOR: Is it true that Devon has lost interest in the southern portion of the play?
TT: I have heard that from a few sources. If they do, I believe that that will be a big mistake.