Friday, August 3, 2012

Halcon Permits Their First TMS Well

Halcon Resources has permitted their first Tuscaloosa Marine Shale well. The company hasn't wasted any time getting into the play.  Yesterday they announced that they have 50,000 acres leased with 200,000 as their goal.  The company has been focused mostly in Rapides Parish, LA.  Rumor has it that geologist Gregg Robertson, who led Petrohawk into the Eagle Ford, is leading the technical team.  Halcon, Spanish for "hawk", might just be Petrohawk II.  Same CEO.  Same stock symbol.  Same office building. Maybe the same technical team come 11/6/12.  Might be time to check out this stock (NYSE: HK).  I digress.

Their efforts in the TMS have been focused in the lower resistive area of the play.  Rumor has it that their technical team believes that the Tuscaloosa sands in the TMS-East region are a frac risk.  Success in this area could ignite the TMS-West region.  To date, Indigo Minerals has drilled the only horizontal TMS well on this side.  Success in Rapides Parish could greatly enhance the Indigo acreage block.

The Broadway #1 location is in an area with very few vertical TMS penetrations which make this well a true TMS wildcat.  Their permit has 14500' as TVD with a 5000' lateral planned.  My estimation for the base of the TMS is -13100 TVD-SS.
Base of TMS Structure; LK Shelf Edge (blue); Higher resistivity boundary (blue dash); Rumored Halcon acreage buy areas (red)
Stratigraphic cross section displaying Passey crossover; Blue numbers: Top - Feet of pay (delta-log-R>0.9), Bottom - average Delta-Log-R.

Stratigraphic cross section



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