Thursday, October 27, 2011

Anadarko Permits Another Austin Chalk Well - Avoyelles Parish

Anadarko has permitted an Austin Chalk well four miles north of the Lower Cretaceous Shelf Edge.
-Anadarko Rabalais 35-1
-Avoyelles Parish, LA
-Measured depth: 21848   True vertical depth: 14848
-2032' FNL & 1669' FWL OF SEC 35. PBHL: 1278' FSL & 3118' FWL OF SEC 3, T02S-R06E

Anadarko Rabalais 35-1: #21 on map

Tuesday, October 25, 2011

Scout Report - October 25, 2011

This week's Scout Report:

Anadarko Completes the GASRS 16-1

Anadarko completed the AUS C RA SUK;GASRS 16-1 in the Austin Chalk reservoir.  The well is in southwestern Vernon Parish near the Texas state line and is 7 miles south of the Lower Cretaceous Shelf Edge.
-1127 MCFD; 203 BCD; FTP 1100; SITP 6900; CP 1600; 25/64" CHOKE; 259 BWPD; 0.1% BS&W; GOR 5551.7; GVTY 52.4; PERFS TOL: 14324' MD EOL: 20886' MD

Tuesday, October 18, 2011

Scout Report - October 18, 2011

This week's Scout Report:

-Devon Beechgrove #1: frac job in progress
-Antinum Briggs Alt. #1 (Austin Chalk): 2184 BOPD; 6795 MCFD; 3276 BWPD on a 38/64 choke

Atinum's Briggs Alt. #1 IP's In The Austin Chalk

Atinum's Briggs Alt. #1 that proved very challenging to drill, has IP'd with some great rates: 2184 BOPD; 6795 MCFD; 3276 BWPD on a 38/64 choke.

Devon Presents The TMS at The Energy Summit

"Southern New Ventures Group, part of Devon Energy, has drilled its first horizontal well in the Tuscaloosa Marine Shale that crosses Louisiana north of Baton Rouge. Exploration manager Harry Livingstone says the company hopes the well in East Feliciana Parish will be the first of many. 'We're going to give it a good try,' he says. Livingstone says the company has spent over $50 million leasing 250,000 acres for the oil shale play. While the existence of the shale formation has been well known for decades, advances in horizontal drilling technology used in natural gas plays such as the Haynesville Shale in north Louisiana have helped make the Tuscaloosa feasible. 'Horizontal drilling is the ideal and the only way to go forward,' he says, adding that the United States is ahead of the rest of the world in horizontal drilling technology. He says regulatory concerns exist, but says Louisiana is a good place to do business because it's an 'oil-friendly state.' While it's too early to say for sure how productive the Tuscaloosa will be, Livingstone says the economic impact might be comparable to Haynesville and the Eagle Ford play in south Texas. Livingstone spoke today at Energy Summit 2011, hosted by the LSU Center for Energy Studies."
Source: Business Report

P2 Provides Leasing Statistics

P2's blog, "Tobin Talk", released some information regarding leasing across the Tuscaloosa Marine Shale and Austin Chalk plays.

Saturday, October 15, 2011

Hilcorp Moves Forward With Tuscaloosa Development Plan

Based on recent filings, it's obvious that Hilcorp isn't wasting any time expoiting their new deep Tuscaloosa assets recently acquired from BP.  The economics appear challenged with sub-$4/mcf gas.
Recompletion Permits (Source: DrillingInfo)

Thursday, October 6, 2011

The Current TMS Economic Advantage

There's been a lot of press lately touting the benefits of the Louisiana Sweet premium.  A $25 per barrel "bump" provides a significant economic advantage to plays like the Tuscaloosa Marine Shale.  From what I understand, this gap could continue for 1-2 years.

Oct. 3 (Bloomberg) -- "U.S. Gulf crude premiums strengthened after the discount for West Texas Intermediate versus Brent widened.  The gap between WTI and Brent November contracts increased 25 cents to $23.81 a barrel in New York. The spread settled Sept. 6 at a record margin of $26.87.
When Brent increases versus WTI, it strengthens the value of low-sulfur U.S. grades that compete with West African oil priced against the European benchmark.  The discount of WTI for November delivery to the December contract widened 9 cents to 22 cents after Enbridge Inc. shut its Ozark pipeline that transports oil from Cushing, Oklahoma, to Wood River, Illinois.  Heavy Louisiana Sweet’s premium to WTI widened 85 cents to $26.75 a barrel at 2:02 p.m. in New York, according to data compiled by Bloomberg. Light Louisiana Sweet’s premium added 75 cents to $25.75."
Source: Bloomberg

Tuesday, October 4, 2011

Devon Rig Heading East

It appears that the Devon rig is heading east to the Soterra 6H-1 location.  It will be good to have an eastern datapoint in this new wave of drilling.