Energy Transfer has said it expects to complete Gulf Run by the end of 2022. Well-log interpretation of the Haynesville Shale showed that conventional resistivity-porosity-saturation models underestimate hydrocarbon saturation in zones with high concentrations of kesogen. Top basin performers Chesapeake Energy, Southwestern Energy, Comstock Resources, Aethon Energy and Rockcliff Energy II produced a combined total of 1.53 MMboe/d, 83 bbl/d of oil and 9.2 Bcf/d of gas in the first half of 2022, according to data from advisory firm Enverus. Summary The Haynesville Shale is the third-largest natural gas play in the US by production,. The Haynesville averaged 11.2 Bcf/d in 2021. February 21, 2023 Haynesville Shale Lower Natural Gas Prices Lead Comstock to Cut Rigs in Haynesville As natural gas prices swing lower from 2022 highs, Haynesville Shale-focused Comstock. Please check your browser settings or contact your system administrator. Our seasoned technical animator team specialize in process, mechanical and industrial animations as seen in our animation demo reel. Last reply by Skip Peel - Mineral Consultant 10 hours ago. Changes in technology and industry practices, combined with an increased understanding of the regional geologic framework, can have a significant effect on what resources become technically recoverable, Walter Guidroz, program coordinator of the USGS Energy Resources Program, said about his scientists new assessment of the Haynesville Shale. STEP was profitable in all four quarters in 2022 - a sign of meaningful progress for the Company and the energy business broadly. The effective date of the transaction is August 1, 2022. Chesapeake Energy Corp. is palliating its exploration and production operations in the Marcellus and Haynesville shale plays while also aiming to make an exit from the Eagle Ford Shale in 2023 due to natural gas prices that have fallen below USD 2.00/MMBtu at a number of pricing centres across the United States. This press release contains forward-looking statements within the meaning of U.S. federal securities laws. Lower 48 permits often are issued three to six months, Bolstered by another strong month of growth from the Haynesville Shale, domestic natural gas production from seven key onshore plays should grow to over 96.6 Bcf/d from January to February, updated modeling from the Energy Information Administration (EIA) shows. We have seen a pickup in competition on the gas side that didnt exist, even six to 12 months ago, but that doesnt concern us or impede our ability to successfully execute our M&A strategy, he said. Terms of Service, As exciting as this is, we know thatwe havea responsibilityto do this thing correctly. PHXhas added roughly 1,800 royalty acres in the SCOOP and Haynesville since July. Our analysis on Haynesvilles current and planned takeaway capacity concludes that the basin has the capacity to sustain the forecast production growth up to 2024, the year when potential bottlenecks could start, unless new pipeline projects get approved. Last reply by Keith Mauck (Site Publisher) Feb 16. In the fourth quarter, operators in the Texas-Louisiana shale play added 10 rigs, bringing the total fleet to 46 as of Dec. 30, according to data published by Enverus. In January, Haynesville production gas averaged over 13 Bcf/d as a wave of new rig additions lifts the basins total to its highest since January 2020, data compiled by S&P Global Platts Analytics shows. "At depths of 10,500 feet to 13,500 feet, wells in the Haynesville are deeper than in other plays, and drilling costs tend to be higher. https://www.worldoil.com/magazine/2020/december-2020/features/shaletech-haynesville-bossier-shales, Source: U.S. Energy Information Administration (EIA), NATURAL GAS 06 Jan 2021 | 22:34 UTC New York, Amid bullish outlook, Haynesville gas producers gear up for record output in 2021, Production averaging over 13 Bcf/d in January, Rig count hits 12-month high at 46 on Dec. 30, Tighter supply, record exports bullish for Haynesville. Durch Klicken auf Alle akzeptieren erklren Sie sich damit einverstanden, dass Yahoo und unsere Partner Ihre personenbezogenen Daten verarbeiten und Technologien wie Cookies nutzen, um personalisierte Anzeigen und Inhalte zu zeigen, zur Messung von Anzeigen und Inhalten, um mehr ber die Zielgruppe zu erfahren sowie fr die Entwicklung von Produkten. Drilling and finishing a conventional horizontal Haynesville well typically costs between US$7 million and $8 million, largely depending on lateral length, drilling costs, and pressure pumping services. Unleased acreage can be below $500 an acre to $3,000 an acre depending on location. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. 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News. Stay in touch with our Daily Email Newsletter. The Haynesville is set to become the largest source of gas output growth in the US, forecast to add about 10 Bcfd from 2020 to 2035, growing by 86% during that timeframe. Started by Ellen Eakin in Shale Related Topics. "We hope to be able to announce some agreements that we are close to getting signed over the next few years," McCrea said, noting the company was "still a ways from FID but we are really excited about where that project is going. That project, which Energy Transfer gained via its acquisition of Enable Midstream in December 2021, is backed by a 20-year agreement with the $10 billion Golden Pass LNG export plant now under construction in Texas by QatarEnergy (70%) and Exxon Mobil (30%) . 2021 Tellurian Inc. All Rights Reserved. The company reported 334,716 boe/d in first half 2022 production from the Haynesville, comparable to the total 887,668 boe/d produced by the company across all its assets, according to Enverus data. 1 in Chesapeakes portfolio, but the Haynesville Shale could be even bigger someday, then-CEO and chairman of Chesapeake, the late Aubrey McClendon, said at IPAAs 2008 Oil & Gas Investment Symposium in New York. According to GlobalData, natural gas production in the Haynesville shale is projected to grow at CAGR of 3% during 2021-25. This STOCK U.S. LNG Export Map is Available for License While mild winter weather and elevated storage volumes have since dampened the outlook for prices, a modest recovery in the forward curve has taken hold since late December as forwards traders reconsider the steep and sustained selloff. is operating three rigs and one companion frac spread, but is still formulating the 2021 program, which will be presented to stakeholders in February, says Investor Relations Director David Erdman. The average initial production rate of these wells was 24 MMcf per day and had an average completed lateral length of 9,288 feet. . No problem. Meritorious Awards for Engineering Innovation (MEAs), Gulf of Mexico Energy Transformation Conference, Meritorious Awards for Engineering Innovation (MEA), Tellurian Production, Revenues Soar in Q4 as Driftwood LNG Remains on Track, Inside Comstocks North Houston Western Haynesville, Williams, Chevron Agree to Natural Gas Production Projects in Haynesville and GoM, A&D Minute: Chesapeake's Eagle Ford Divestiture with a Twist [WATCH], WhiteHawk Picks Up Haynesville Mineral, Royalty Interests in $105 Million Deal, Marketed: Merced Capital Diversified Non-Operated Lower 48 Assets, Tokyo Gas' TG Natural Nears $4.6B Deal to Buy Haynesville's Rockcliff. 2023-01-09 - Rmerberg 6 is predicted to increase Neptunes production in Germanys Rhine Valley to approximately 3,700 boe/d. Upon closing of the transactions, Chesapeake plans to operate two rigs on the acquired properties during 2022, resulting in a total of 9 - 11 gas-focused rigs and 2 - 3 oil-focused rigs. Not receiving royalties. Natural gas production in the Haynesville declined steadily from mid-2012 until 2016, due to its relatively higher cost to produce natural gas compared with other producing areas, according to the EIA report. Already have an account ? Comstock Resources is putting modern horizontals and frac jobs into the deep Bossier, long known to be a super-stocked natgas tank. This Event Reminder is Sponsored by: Day 1: 4:00 PM The Haynesville Now Haynesville operators join the play's co-founder, Dick Stoneburner, in a candid conversation, including with DUG Haynesville attendees, on opportunities, challenges and solutions in this 16 Bcf/d resource that alone can fill all U.S. LNG export demandand still with Bcf's to spare that are helping to satiate domestic . The Haynesville Shale's overpressurization is one of its key properties, which has helped to produce some extremely high initial production rates. U. S. Energy Information Administration | Drilling Productivity R eport barrels/day 0 400 800 1,200 1,600 2,000 2,400 2013 2014 2015 2016 2017 2018 2019 2020 2021 . View source version on businesswire.com: https://www.businesswire.com/news/home/20220712006148/en/, Media: Southwestern Energy (SWN) guided to running 10-11 rigs between its Haynesville and Marcellus acreage, down 2-3 rigs from 13 total rigs in 2022. Recent gas pipeline scrapes are running ahead of expectations, reaching record highs of ~99.3 Bcf/d in September, with MTD gas production estimated at 98.7 Bcf/d, which compares to the August average of 97.7 Bcf/d and the September 2021 average of 92.7 Bcf/d, the analysts stated. Blue Dome Operating LLC BXP Operating Company Brix Operating LLC Cabot Oil & Gas A key factor in Haynesvilles ability to sustain an advantage against the Appalachian region will be to maintain the relative ease with which operators can transport gas from wellheads to Gulf coast markets, compared to the bottlenecks and mid-stream project cancellations that producers in the Northeast have to grapple with. Weve also committed 700 MMcf/d to a new pipeline to be built by momentum from the heart of the Haynesville play down to [Gilles], he continued. In fact, in 2019, US consumption set a new, record high of 31 Trillion cubic feet of gas. As one of the safest and cleanest fuels available, it has become the fuel of choice for American homes and industries. As lower US production continues to put domestic supply under pressure, record LNG feedgas demand at terminals along the Gulf Coast has compounded the tighter market balance, making the Haynesvilles Texas-Louisiana location strategically well placed to benefit. Report an Issue | More than 2,500 Subscribers rely on our data each day. The U.S. will become the biggest seller of the super-chilled fuel in 2025., As reported by oilprice.com Started by M B Gilster in Shale Related Topics. The three basins together accounted for 52% of U.S. dry natural gas production. Vine controls 188,000 net acres in northwestern Louisiana, where along with the Haynesville, the once-bypassed mid-Bossier zone has emerged as a primary target. Stay in touch with the latest activities by subscribing to our daily email covering operators, service companies, (acreage, production rates, well info, development plans, resverse, and completions designs), Top Haynesville E&P Cuts 2023 Drilling Program By 22%, Southwestern Energy 4Q, Full Year 2022 Results; Talks 2023 Plans, Chesapeake Energy Q4, Full Year 2022 Results; IDs $1.8B 2023 Capex, Chesapeake Energy Third Quarter 2022 Results, Comstock Resources Third Quarter 2022 Results. Comstock has assets spanning throughout northern Louisiana and eastern Texas, making it the third most productive Haynesville operator with eight total rigs. Shale thickness ranges from 200 to 350 feet at producing depths of 10-14,000ft+. Last reply by Skip Peel - Mineral Consultant on Sunday. As Haynesvilles second growth phase began and operators returned to the previous record production numbers from the first boom in late-2019, the system touched the key 90% level of utilization, above which it may come under strain with bottlenecks occurring. Ravnaas said others are taking notice of the improving market. Since its last operational update, Comstock completed an additional 20 (17.7 net) Haynesville shale wells. Click here to Upgrade And Get Immediate Access. Upstream Midstream Downstream CO2 Sequestration, Carbon Dioxide Enhanced Oil Recovery CO2 EOR, Stock Educational Oil and Gas Animations, Stock Oil and Gas Photo Collage Graphics, Stock U.S. Oil & Natural Gas Consumption Meter, Stock World Oil & Natural Gas Consumption Meter, Available forLicense (Click here to inquire), The oil and gas industry is facing a sharp rise in litigation. Ellie Grace/1HA . Comstock Resources, Inc.reported financial and operating results for the quarter and year ended December31, 2020. According to World Oil Global LNG trade will rise 21% by 2025 from 2019, reaching 585 billion cubic meters. On Jan. 5, the calendar-year 2021 Henry Hub price settled at an average $2.80/MMBtu up about 13%, or more than 30 cents, from its recent low. Sie knnen Ihre Einstellungen jederzeit ndern. We have Oil & Gas STOCK Photographs Youll see that our creative team is continuing to push beyond their comfort zone to create that WOW experience for every clients play, tool or oil and gas technology project with our animated graphics. For the year, the company plans to turn 52 wells in line, followed by 10 new producers in the first quarter of 2021, says Sr. VP of Finance and Investor Relations Emily Newport. In Other Fourth Quarter (4Q) Update news. 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