Tuesday Evening Tidbits
My day job is challenging me to keep up nowadays and there isn't as much of substance going on in the TMS right now, any way.
That said, let me catch y'all up with a few things...drilling applications, drilling rigs, and fracking.
First, drilling/unit applications are ongoing in both Mississippi and Louisiana.
Pike County has become hot insofar as applications by EnCana, VirTex and Sanchez over the past few months...Amite County has also had some new applications and extensions of old applications.
Paloma Resources has become rather active with applications in Tangipahoa Parish, though nothing to compare with Goodrich Petroleum in both Tangipahoa and Washington Parish.
BUT, don't get too excited about applications by any company except Goodrich Petroleum. And Goodrich has made so many applications that even a Goodrich application isn't a sure thing.
As of today, as best I can learn, Goodrich continues to plan to have 2 rigs drilling for a few more months. (Note: At $45 oil it wouldn't surprise me to see this change any day.)
The EnCana rig that was at the Lawson site, Trinidad #124, is being moved to West Texas as I type, so EnCana is down to just the Trinidad Rig # 125 drilling the Reese/McIntosh wells.
Goodrich had the H&P Flex Rig 3 # 249 on the Kinchen site that finished drilling last week. It is my understanding this rig is being released to bring Goodrich from 3 to 2 rigs.
Sanchez has a contractual obligation to drill 3 more wells, but, again, at $45 oil there doesn't appear to be a rush to do so.
Comstock has pulled out for now, but could bring back a rig to drill at either of two prepared sites without much fanfare.
In summary, for now we have 3 rigs drilling in the TMS with plans to reduce the number to 2 shortly and we have announced tentative plans for as many as 4 more rigs to be brought in if/when prices rebound.
The only fracking I'm aware is taking place by EnCana. The Mathis 29-17H-1 did not finish this past weekend as expected. The issues should be resolved, so don't panic. Latest word is they hope to finish by this weekend. EnCana has 3 wells waiting to be fracked after the Mathis.
Halcon has 3 wells ready to frack. Goodrich has 4. Sanchez has 1. I'm not aware of the imminent arrival of fracking crews for these wells. I don't know if it is the price of oil or the fact that it is a new quarter and price negotiations have not been finalized, but, regardless, as a mineral/royalty owner I wouldn't be upset if these wells weren't fracked for awhile.
I hope this snack of information helps quell the knowledge thirst y'all have.
If I've left out something of importance or gotten something wrong, please feel free to offer your input!