Daily Report 9-22-2014
The EnCana Trinidad Rig # 125 is in the process of moving to the Longleaf 29H site southeast of Liberty where a 2 well drill is planned.
Sounds like the 2 well drill at Sabine 12H went smoothly.
From all accounts the Goodrich fracking of wells has gone very well of late...things are becoming routine. Goodrich Bates 25-24H-1 has been flowing back for over 2 weeks; CMR 31-22H-1 should be flowing back shortly; CMR 24-13H-1 is in the middle of a frack; and the Goodrich Spears 31-6H-1 is in the wings. I'm guessing the Verberne 5H-1 will be finished drilling by the time the Spears is finished fracking.
As mentioned earlier today the Halcon S. D. Smith is finished with Shuckrow next and George Martins, et. al in the wings. Halcon Fassman is flowing back, S. D. Smith should follow soon.
I haven't heard, yet, but I'm guessing the Sanchez Dry Fork East #2 well should be finished fracking shortly. It will be nice to have a 4th company reporting results in the next few weeks.
Comstock should have a result from its first well by the time its 3rd quarterly report is delivered to give us that 5th company reporting results. When this happens, the full effect of having 9 rigs in the play will be felt.
The interesting thing, though, now is that we will have at least 3 and, at times, 4 rigs drilling at least 2 wells at a time in the play and I expect 4 well drills to crank up by December or early January. Nine rigs could seem like only 3-4 rigs for awhile while we transition into full development mode in the play.
Moving on...folks have asked me about the Lawson 25H well in Gillsburg...pump has stopped. Here's the deal...production equipment occasionally has to have maintenance. That's just a fact of life. Don't worry about the well drying up...The oldest well in the "modern era" (the BOE well) has been producing over 3 years and the adjacent unit wells (Anderson 17H-1 and Anderson 18H-1) are now over 2 years old.
AND, the neat thing I have observed about these wells is when they are down for a few days, the production in the following days catches up. I'm not so sure I wouldn't only run these pumps 2-3 hours a day if I were in charge.
Also, I've been asked about the Williams well in Tangipahoa Parish. I've made inquiries, but, so far, I don't know what is happening with that well. It could be something. It could be nothing.
Finally, I have no idea why Halcon and Goodrich stocks have dropped like crazy over the past few days and, especially, today. If there is anything negative going on in the play with these two companies, then I'm simply not aware of it.
Sometimes stocks go up and sometimes they go down without any reasonable explanation. That's just the way these things go.