Monday, November 5, 2012

As The Tuscaloosa Turns

Tuscaloosa Trenders,
I've been on the road most of the past seven weeks, so I'm behind in my posting.  Saturday night in Tiger Stadium had me elevated for 59 minutes, but that last one was a killer.  Geaux Tigers!

Thank you to Jim H. and James H. for the nice donations!  Emmaus-House is planning on distributing 150 turkeys on Thanksgiving so that will help.

Here's a summary of the latest "chatter":
Q: Is it true that the Goodrich Denkmann well is flowing 800 barrels of oil per day?
TT: I've heard that, but I've also heard that the casing collapsed.  Quite divergent rumors.  I did hear that during drilling, they drilled out of zone for some of the horizontal.  That will have impact on the result.  I posted an estimate for the well, but hole issues definitely could have impact.

Q: Is it true that Devon is pulling out of the play?
TT: This rumor just won't die.  I don't believe that they are.  I've heard that their joint venture terms require Sinopec to pay for the first 10 wells.  If that is the case, then I would expect them to drill 10 "freebies".  They definitely have not had success to date, but the play overall continues to improve.  They did announce that they are closing their Houston office where the TMS team is stationed, but all of the Houston projects are moving to Oklahoma.

Q: Is it true that EOG has a large frac planned for the Dupuy?
TT: I am hearing that they plan 250' spacing with 425,000# of proppant per stage.  If accurate, that would make this the 2nd largest frac to date on a proppant per stage basis.  The Anderson 17H was 452,500# per stage.  They aren't wasting any time on any front.

Q: Is it true that Encana's management was in the field last week with staff from Shell?
TT: I did hear that Encana's management was making a field tour.  The Shell rumor just won't die.  Zero confirmation of Shell in the TMS.

Q: Is it true that the Encana Ash 31H-1 got stuck?
TT: Yes, two weeks ago the well was drilling 2' from planned TD and got stuck. The well was drilling at an excellent pace. That's just bad luck.  The fish has successfully been removed and the well is progressing with the completion.  Congrats to the Encana team for a rapid drill and nice recovery!

Q: Is it true that the Goodrich Crosby 12-1H took a conventional core?
TT: Yes, I hear that is true.

Q: Is it true that the Halcon Broadway #1 took a conventional core?
TT: Yes, I hear that is true.

Q: Is it true that Contango Oil & Gas participated in the Goodrich Crosby 12-1H?
TT: Yes, Contango confirmed that.

Q: How do you think that the play is doing?
TT: We all would like things to move along faster.  To date, I believe that the results in the play are impressive.  It's early and we are still in the "R&D" mode.  EOG will quickly take this play to the next level.  Their first drill was a record setter and their first frac design appears to be robust.


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