Monday, April 17, 2017

Haynesville

Updates

Later, 7:38 a.m. Central Time: USGS, one word: wow.  My understanding is reserves are based on current technology (definitely) and current pricing (?). Here's the assessment, data points:
the assessment included two formations:
  • Bossier Formation: along the coast, stretching from Texas-Mexico border to Louisiana-Mississippi state line, from the coast ot about 150 miles inland
  • Haynesville Formation: inland in Texas; along the southern coast of Louisiana, extending up about a third of the state, and extending well into Mississippi, Alabama, and even a bit of the Florida panhandle (where we will never see drilling)
  • last assessment, 2010, Jurassic and Cretaceous rocks of the Gulf Coast
    • Bossier: 9 tcf
    • Haynesville: 61 tcf
  • new assessment, 2017, released last week
    • "amazing what a little more knowledge can yield"
    • updated geologic maps
    • expanded production history 
    • greater understanding
    • (by the way, one dedicated reader tells me the same thing is happening in the Utica and that USGS has not yet updated how fast things are moving in that formation)
  • long known that the two formations contain oil and gas ,but it wasn't until 2008 that production of the continuous resources really got underway
  • 2017 assessment:
    • Bossier
      • natural gas assessment ranges from 37 tcf to 224 tcf; the mean - 109 tcf;
      • oil assessment ranges from 1 billion to 5 billion bbls; the mean - 3 billion bbls;
      • natural gas liquids assessment ranges from 424 million bbls to 2 billion bbls; the mean -- 1 billion bbls
    • Haynesville: 
      • natural gas assessment ranges from 96 tcf to 341 tcf; the mean - 196 tcf;
      • oil assessment ranges from 286 million to 2.5 billion bbls; the mean - 1 billion bbls;
      • natural gas liquids assessment ranges from 304 million bbls to 1.7 billion bbls; the mean -- 1 billion bbls
Compare these numbers with:
 And still one of my favorite posts: the New York Times hoax / scam on natural gas.

Original Post
 
I've never linked the Haynesville at the sidebar at the right. When I started the blog, I had little interest in natural gas. But with RBN's update today, it seems time I have a Haynesville page. This was posted earlier. Note the USGS recent assessment of the Haynesville: 304 tcf.

RBN Energy: update on Haynesville natural gas shale play. Data points:

  • straddles the northeast Texas-Louisiana border; back in the news
    • 9,000 square miles of surface area -- extends up to southwest Arkansas
    • reserves: 75 trillion cubic feet BUT last Thursday, USGS upped the reserve estimates:
      • 304 tcf of natural gas; 1.9 billion bbls of crude oil -- recovery rate unknown
    • rig counts have doubled in the past six months
    • rig counts up more than 200% in last 12 months 
    • concentrated in two counties: De Soto Parish, LA; and, San Augustine County, TX
  • Exco Resources: divesting Eagle Ford assets to concentrate on Haynesville
  • "perpetual has-been status"? not likely
    • natural gas at $3
    • improving technologies
    • LNG export demand ramping up
    • location, location, location

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