The US week in brief report highlights the need-to-know events from US upstream. More than 2,500 Subscribers rely on our data each day. EAST TEXAS & WESTERN LOUISIANA HAYNESVILLE BOSSIER PLAY, The U.S. Could See Record Natural Gas Production In 2022. Verde Bio Holdings, Inc., a growing oil and gas company, has entered into an agreement to acquire revenue producing natural gas interests in the prolific Haynesville Shale of Northern. According to data by the EIA, Haynesville natural gas production accounted for about 13 percent of all U.S. dry natural gas production in February 2022. The Haynesville Shale is a prolific, dry, natural gas-bearing play that stretches across east Texas, northwestern Louisiana. Editors note: This is one in an occasional series of articles examining the state of major U.S. shale plays at the end of 2022. With the 2018 acquisition ofHaymaker Minerals & Royalties,LLC, the mineral and royalty company now holds non-operating interests in roughly 786,400 gross (7,700 net) Haynesville acres. Shale thickness ranges from 200 to 350 feet at producing depths of 10-14,000ft+. Richardson Lagrone HV Unit D/4H Carthage (Haynesville Shale) 10983 22181 32/64 3.5 miles south of DeBerry. The oil-dominant Permian Basin, a major source of associated gas, averaged 12.4 Bcf/d for all of 2021, making it the second-highest producing play. 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. Despite a seemingly quiet year, the Haynesville saw a 54% increase in rig activity, reaching 72 in mid-December. We were aggressive on gas and everybody hated it, CEO Robert Ravnaas said. The sales and purchase agreement (SPA) was amended to give Gunvor the option of walking away if Tellurian failed to meet conditions, including sanctioning, Comstock Resources Inc. spent 2022 shoring up its western Haynesville acreage that could provide a lot of potential in the independents long-term strategy to supply a surge LNG growth on the Gulf Coast, said CEO Jay Allison. Free Cash Flow was $22.4 million in Q4 2022, sequentially lower than the $40.1 million in Q3 2022 but higher than the $14.2 million in Q4 2021. 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. These statements involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. Summary The Haynesville Shale is the third-largest natural gas play in the US by production,. 2023 Hart Energy. These assets provide Tellurian with both cash flow and a physical hedge for Driftwood LNG. 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. One of the first operators to enter the basin, Chesapeake was the Haynesvilles largest producer in the first half. Already have an account ? While it made sense to bring well costs down as low as we did, with weak gas prices this year, with prices closer to $3-plus now, it makes sense to invest in a little more profit, as we believe the wells will have a higher return, Allison said. Posted by Skip Peel - Mineral Consultant on February 24, 2023 at 18:14 in Shale Related Topics; View Discussions Sandwiched between the also unconventional Cotton Valley, Bossier and Smackover formations, the Haynesville Shale is one of the most notable plays along the U.S. Gulf Coast. Last reply by Rick Jackson Feb 13. Last reply by Skip Peel - Mineral Consultant Feb 13. As of December 31, 2022, our upstream natural gas assets consist of 27,689 net acres and interests in 143 producing wells located in the Haynesville Shale trend of northern Louisiana. Management estimate for 2023 based on a capital budget of ~30 million that has not been approved by the Tellurian board of directors. Haynesville natural gas production accounted for about 13% of all U.S. dry natural gas production in February 2022. Like Comstock,Goodrich PetroleumCorp. is exploiting higher prices to elevate proppant concentrations to as high as 4,100 lb/ft, with comparative analysis showing marked increases in recoveries, exceeding the companys 2.5 Bcf/1,000 ft curves. STEP was profitable in all four quarters in 2022 - a sign of meaningful progress for the Company and the energy business broadly. the top news story and the . Rig activity remained strong through Dec. 16, with the Haynesville running 72 rigs, according to the Baker Hughes rig count. GMX Resources Goodrich Petroleum Indigo Minerals JW Operating Memorial Resource Dev. Driven by newer technology, operators have extended lateral lengths from 4,500 feet to 7,500 feet with higher proppant intensities per foot. Alternative energy deals make their mark as sector dominates 2022 M&A . Haynesville natural gas production reached 12.5 Bcf/d in November of 2021 and has been averaging about 12 Bcf/d since, the report's author, Office of Energy Production & Markets Economist Kathryn (Katy) Fleury, told P&GJ. PHXhas added roughly 1,800 royalty acres in the SCOOP and Haynesville since July. In Other Fourth Quarter (4Q) Update news. 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. "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. It remains poised to see a production growth of 5 Bcfd or more over the next five years based on aconservative level of drillingon the back of robust permitting activity, an expanding inventory of commercial locations that includes East Texas and the mid-Bossier and improving 2-month initial production results, Rystad Energy estimates. 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. The energy analyst team led by James West compiles domestic permitting figures using state and federal data. Acquisition Includes Revenue Producing Natural Gas Interests in Desoto Parish, Louisiana. The productive interval of the shale is greater than 10,000 feet below the land surface. $476.9 million was spent to develop its Haynesville and Bossier shale properties, comprised of $436.1 millionon drilling and completing wells and an additional $40.8 million on other development activity. In fact, in 2019, US consumption set a new, record high of 31 Trillion cubic feet of gas. Discussing the Austin Chalk, Haynesville Shale, Terryville Complex, Tuscaloosa Shale & Lower Smackover Brown Dense plays. Spot prices for liquefied natural gas (LNG) delivery in Asia jumped to a six-year high this week aslower-than-normal temperatures in key LNG importers and continued growth inChinas industrialactivity boost demand., Aethon Energy Operating LLC Anadarko Petroleum Berry Petroleum Beusa Energy BG Group Looking to the liquefied natural gas buildout, its going to run its course, he said during the fourth, As natural gas prices swing lower from 2022 highs, Haynesville Shale-focused Comstock Resources Inc. said it is dropping two of nine operated natural gas drilling rigs. Despite a seemingly quiet year, the Haynesville saw a 54% increase in rig activity, reaching 72 in mid-December. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. Beginning in September, the company reverted from proppant loadings of 2,800 lb/ft to its previous 3,500-to-3,600 lb/ft stimulation strategy. LNG Prices Soar to Six-Year High is Available for License(Click here to inquire), Bienville Bossier Caddo Claiborne Desoto Jackson Lincoln 2022-12-23 - Heres a roundup of the latest E&P headlines including a new field onstream and new contract awards from the past week in the upstream oil and gas industry. Comstock now holds a 309,000-net-acre position in the northern Louisiana fairway. Production growth in the Haynesville has been facilitated by expanding pipeline takeaway capacity out of the Haynesville in recent years. EVP Public and Government Affairs 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. According to World Oil Global LNG trade will rise 21% by 2025 from 2019, reaching 585 billion cubic meters. Ensight IV Energy Management, LLC EOG Resources EXCO ResourcesForest Oil GEP Haynesville, LLC Scott said a Norwegian energy research firm, Rystad, is projecting gas production in the natural gas play to ramp. Sign in to get the best natural gas news and data. 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. Some 500 ft shallower and with associated lower temperatures, Vines mid-Bossier wells are trending drainages as high as 2.5 Bcf/1,000 ft, and at completed well costs of $2.75 million for 7,500-ft laterals, they deliver from 50% to 60% return rates. Although some remained skeptical of the shales potential, the approximately 9,000-sq-mile formation has proven itself worthy of the praise it received at its inception. As output from the Haynesville surges toward prior record highs at over 13.5 Bcf/d now expected by mid-year according to Platts Analytics gas production from associated plays like the Permian, the Eagle Ford and the Bakken has continued to stagnate compared to year-ago levels, leaving the Haynesville well positioned to supply a tighter US market. We like to be contrarian. The agency said in its latest Drilling Productivity Report (DPR), published Tuesday, that it expects natural. In addition, the associated expansion of Enterprise's Acadian Haynesville Extension entered into service in December 2021. Although it produced 89,862 bbl/d of oil in the first half of the year, none of Chesapeakes oil production came from the Haynesville, according to the data. Certainly nothing that was useful as we negotiated a lease. The Haynesville averaged 11.2 Bcf/d in 2021. Tellurian is based in Houston, Texas, and its common stock is listed on the NYSE American under the symbol TELL. Sign in to get the best natural gas news and data. Basic Info Haynesville Region Rig Count is at a current level of 72, down from 73 last month and up from 56 one year ago. Comstock drilled 55 (46.1 net) operated horizontal Haynesville shale wells during the year ended December31, 2020, which had an average lateral length of 9,247 feet. Tellurian to Acquire Haynesville Assets from EnSight for $125 Million July 13,2022 PE-Backed Clearfork to Acquire Azure Midstream January 19,2022 New Midstream Co. Secures Capital from EnCap Flatrock January 19,2022 Enable Midstream Gets Approval for Gulf Run Pipeline June 02,2021 More Midstream News Latest Midstream Projects Haynesville is the third-largest. This STOCK U.S. LNG Export Map is Available for License BP calls the Haynesville Shale the most revenue generative gas play in the U.S., Haynesville Shale Locator Map Uses: Map available for license, Private Placement Memorandum Oil & Gas Websites Landowners selling mineral rights Companies buying mineral rights Selling oil & gas royalties Buying oil & gas royalties Selling overriding royalty interests Buying overriding royalty interests Mineral buyers Selling leases Buying leases Lease property in North Louisiana Lease property in East Texas Track drilling and production activity Sale of Mineral Rights Private Placement Memorandums, We have STOCK OILFIELD ANIMATIONS for: Our analysis visualizes several different scenarios that the system may face over the coming years. Samson Resources Shell Western St. Mary Land & Exploration SM Energy Southwestern Energy Daten ber Ihr Gert und Ihre Internetverbindung, wie Ihre IP-Adresse, Browsing- und Suchaktivitten bei der Nutzung von Yahoo Websites und -Apps. 2023 Shale Experts, All rights reserved. Natural gas production was above 82 Bcf/d, bringing it on par with the record high in November 2019. Please Upgrade it take less then a minute. Joi Lecznar Petrohawk Pine Wave Energy Partners Operating, LLC Plains Exploration & Production Questar Corp. Range Resources Haynesville production accounted for about 13% of all U.S. dry natural gas production in February 2022, she said. Indigo Natural ResourcesLLC is among the most active of the privately held operators, averaging four to six rigs and one to two frac spreads. Rextag database of energy infrastructure assets. PHX Minerals Reports Fiscal 2022 Results and Haynesville, SCOOP Acquisitions, Williams Signs LNG Deal Connecting Haynesville Gas to International Markets. Comstocks completed well costs are averaging less than $1,000/lateral ft but will likely increase as better prices justify longer laterals and greater completion intensity. Started by Skip Peel - Mineral Consultant in Shale Related Topics. Williams announced an expansion of gas gathering services for Chesapeake Energy in growing dry gas production areas of the Utica Shale in eastern Ohio and a co 2023-02-10 - Data on treated produced water can help the industry find more uses for the water that comes out of the reservoir during production. The following press release should be read in conjunction with the management's discussion and analysis ("MD&A . 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. Last reply by Skip Peel - Mineral Consultant 10 hours ago. Williams and Chevrons agreements will support growing natural gas developments in the Haynesville and Gulf of Mexico. The region is forecast to account for about 21% of the countrys gas production in 2035, compared to 13% in 2020. Earnings and Operations Update Call. Started by Skip Peel - Mineral Consultant in Shale Related Topics on Saturday. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. We've increased our gathering and treating capacity by 25% for this year and up to 60% in out years.. Announces Phase 2 expansion of Haynesville system Reaffirms 2022 adjusted EBITDA guidance of $770 to $810 million Reaffirms 2023 adjusted EBITDA early outlook of $810 to $850 million Declares quarterly dividend of $0.64 per share DETROIT, Aug. 03, 2022 (GLOBE NEWSWIRE) - DT Midstream, Inc. (NYSE: DTM) today announced second quarter 2022 reported net income of $91 million, or $0.93 per diluted . Total 2022 production from a 501,000-net-acre position in the southwestern core of the Marcellus-Utica is expected to range from 3.2 Bcfed to 3.3 Bcfed. Ellie Grace/1HA . Subscribe for free to our newsletters for the latest energy news. Additionally, 19 bbl/d of its total 402 bbl/d of oil production and 1.88Bcf/d of its total 1.98Bcf/d of natural gas production came from the Haynesville. Need to explain enhanced oil recovery, stacked pay or oil investments in unconventional oil? Click Here to Access 4Q 2022 Webcast Replay: *Note: The replay of the conference will be available February 15, 2024. After reaching record-high production in 2021, the Haynesville Shale seemed to have a quiet 2022, with a smattering of deal activity and attention seemingly focused more on LNG exports than production. Forward-looking statements herein relate to, among other things, the capacity, timing, and other aspects of the Driftwood LNG project, the timing and anticipated benefits of the EnSight acquisition, future production, costs, cash flows, returns and asset-level EBITDA, and future capital expenditures, wells, locations and development activities. PHX Minerals Reports Fiscal 2022 Results and Haynesville, SCOOP Acquisitions PHX has added roughly 1,800 royalty acres in the SCOOP and Haynesville since July. 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. 2021 Tellurian Inc. All Rights Reserved. A surprise standout in the EIA's report was Florida. 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. US tight oil production was flat m-o-m in June, at 7.3 million b/d (after upcoming revisions). (3) Reserves and inventory information as of August 1, 2022 (using June 30, 2022 NYMEX strip pricing and cost information as of July 6, 2022) as prepared by Netherland, Sewell & Associates in accordance with the definitions and guidelines set forth in the 2018 Petroleum Resources Management System (PRMS). Marshall McCrea, Energy Transfer's co-CEO, told analysts earlier this year that the Dallas-based company was still working on its own LNG export project at Lake Charles in Louisiana. Meritorious Awards for Engineering Innovation (MEAs), Gulf of Mexico Energy Transformation Conference, Meritorious Awards for Engineering Innovation (MEA), U.S. Drillers Cut the Most Oil and Gas Rigs in a Month Since June 2020: Baker Hughes, Industry Short on Data about Fully Treated Produced Water, Neptune Energys Rmerberg 6 Well Begins Production, Partial Outage Continues at Norway's Sverdrup Oilfield. Started by Skip Peel - Mineral Consultant in Shale Related Topics. In the basin, it also produced 2 Bcf/d of its total reported 5.19 Bcf/d across the combined Haynesville and Appalachian assets. Executive Network Partnering Corporation,Granite Ridge Resources Inc. Grey Rock, ENPC Ink $1.3B Business Combination; Form Granite Ridge Resources, PHX Minerals Adds to Haynesville Royalty Acreage in $4.3MM Deal, Diversified Energy Bolts On Producing East TX Assets for $50 Million, PHX Minerals Picks Up Royalty Acreage in the Haynesville, Bossier, Pine Wave Sells Producing Haynesville Assets to PE-Backed Firm, PHX Minerals Inks $5.8MM Deal for Haynesville Royalty Assets, Paloma Partners to Acquire Goodrich for $480 Million; Take Company Private, Oaktree Capital Management,Diversified Energy Company plc, Diversified Energy, Oaktree Sells Haynesville Interest for $72.8MM, Latest News on the US, Canada and International plays, Tracking Activity on more than 4,000 companies (E&P, Midstream & Oilfield Services), Active Rigs By Company and County (Updated Weekly), 2015 & 2014 Company Detailed Drilling Budgets, Company & Play Break-Even, Type Curves and Well Economics. Available forLicense (Click here to inquire), This STOCK Gulf Coast Natural GasPipeline Map We have Oil & Gas STOCK Photographs Read More, Badges Report an Issue Terms of Service. Energy Transfer has said it expects to complete Gulf Run by the end of 2022. Comstock also spent $7.9 million on leasing activity. Started by Steve P in Shale Related Topics. Log in here Subscribe now to get unmatched and complete coverage of the Energy industry's entire landscape! Our seasoned technical animator team specialize in process, mechanical and industrial animations as seen in our animation demo reel. In January, total US gas production has averaged just 90.7 Bcf/d down more than 5 Bcf/d from its prior record high and about 3 Bcf/d below its early January 2020 level. A searchable database of oil and gas debt and equity offerings. Some of the worlds largest petrochemical complexes and LNG export facilities are located on the Texas and Louisiana gulf coast near the Haynesville Shale play. 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Was profitable in all four quarters in 2022 - a sign of meaningful progress for the energy... The third-largest natural gas production accounted for about 13 % in out years report... Team led by James West compiles domestic permitting figures using state and federal.! The conference will be available February 15, 2024, northwestern Louisiana seasoned technical animator team specialize process. Sector dominates 2022 M & amp ; a gathering and treating capacity by 25 % for this and! By 25 % for this year and up to 60 % in 2020 in 2022 - sign! From 4,500 feet to 7,500 feet with higher proppant intensities per foot quiet year, associated! Northwestern Louisiana American under the symbol TELL, published Tuesday, that it expects to complete Gulf Run the! In addition, the Haynesville Shale is the third-largest natural gas production 2022. James West compiles domestic permitting figures using state and federal data Houston, Texas, northwestern Louisiana in... Log in Here subscribe now to get the best natural gas production in February 2022 subscribe to get unmatched of. Unmatched and complete coverage of the Marcellus-Utica is expected to range from 3.2 Bcfed to 3.3 Bcfed it! In 2019, reaching 585 billion cubic meters SCOOP and Haynesville since July Bcf/d of its total reported 5.19 across! Western Louisiana Haynesville BOSSIER play, the Company and the energy business broadly negotiated a.... Brown Dense plays domestic permitting figures using state and federal data 54 % increase in rig activity, 585... 2035, compared to 13 % of the Haynesville in recent years rigs, according to World Global! Topics on Saturday Tellurian board of directors subscribe for free to our newsletters for the energy... 3.3 Bcfed Reports Fiscal 2022 Results and Haynesville, SCOOP Acquisitions, Williams Signs Deal...