Monday Evening TMS News
The Friday Report contains most of the news from the TMS.
(For those who missed that report...here is a link:
So, I hate to post just to be posting. That said, I have accumulated a couple of tidbits that folks out there might find of interest.
First, I have been told that Comstock has taken a break from the TMS in the hope that oil prices will rise a little. Comstock has 2 sites ready to go, but these two sites won't be drilled at this time. The one well drilled by Comstock, the CMR Foster Creek 28-40 #1H, should be finishing fracking soon, if not already.
Halliburton is next scheduled to move to the Goodrich Kent 41H-1 site next for fracturing operations. I expect these operations to be up and going soon.
I've been busy since last week responding to media requests for information on the TMS. The regional Mississippi Business Journal and the national CBS News are both interested in learning about how we have been impacted here by the drop in oil prices.
I'm not sure we've seen a huge impact locally, yet. It's probably coming, but the drop in oil prices have happened so rapidly the oil companies the oil companies have struggled with trying to figure out how to react and then when decisions are made it takes time to put them into effect.
For example, Halcon announced several weeks ago they were leaving the TMS and they still have one well to finish drilling and 3 wells to frack and flow back.
And, the interesting thing is that though the TMS blossomed nicely over the summer, getting geared up for the increased activity and "capturing" income locally from the play has been a slow process and I'm not sure we have geared up enough to get too hurt from a slow down.
Further, I'm hearing that the price of drilling/completing wells is dropping pretty rapidly (which may be why we are seeing some rigs cut loose, then others brought in as replacements...to get a lower drilling charge). So, though we will likely see a slow down in drilling, we may not lose as much a folks first thought if the costs to drill drop by a reasonably close amount to the price of oil. Food for thought any way.
But, let's forget what I am hearing and seeing.
What are you observing?
Send me a private message or use the tips above and let me know. I want to provide as accurate of a picture as possible when these folks call.