https://www.businesswire.com/news/home/20220712006148/en/, Current net production of ~45 million cubic feet of natural gas per day (MMcf/d) (100% natural gas), Approximately 5,000 net acres in the core of the Haynesville Shale in DeSoto, Bossier, Caddo, and Webster Parishes, Louisiana, 44 producing wells and five wells in progress at transaction close, Low-cost, high-margin producing assets generating significant free cash flow, Asset-level projected 2023 EBITDA of approximately $90-120 million, High return, de-risked drilling inventory with over 30 gross drilling locations, EnSight is currently operating a one-rig drilling program, which Tellurian plans to maintain on the acquired assets through the fourth quarter of 2022, Proved reserves of approximately 108 billion cubic feet of natural gas (Bcf) and a $180 million PV-10 projected, 2022 proforma net production estimated to be ~140 MMcf/d, from 39 MMcf/d in 2021, At closing, TPCs Haynesville Shale acreage increases to ~20,000 net acres, with >275 gross drilling locations and a net resource expected at >2 trillion cubic feet (Tcf), Tellurian anticipates TPC 2023 drilling program to be a two-rig program with approximately 350 MMcf/d of net production. Haynesville natural gas production accounted for about 13% of all U.S. dry natural gas production in February 2022. Top basin performers Chesapeake Energy, Southwestern Energy, Comstock Resources, Aethon Energy and Rockcliff Energy II produced a combined total of 1.53 MMboe/d, 83 bbl/d of oil and 9.2 Bcf/d of gas in the first half of 2022, according to data from advisory firm Enverus. 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. Around 40% of total commitments in the basin were announced in 2022, suggesting gathering momentum. 2023 Shale Experts, All rights reserved. info@naturalgasintel.com Operating three rigs and two completion . 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. Nov 2022 - Feb 2023 4 months. During the companys third-quarter 2022 earnings call, chairman and CEO Jay Allison shared that Comstock had highest quarterly results ever achieved in its history thanks to the increased sale of shale natural gas. A searchable database of oil and gas debt and equity offerings. Our seasoned technical animator team specialize in process, mechanical and industrial animations as seen in our animation demo reel. 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. As of December 2020, the number of working rigs is up 25% in the Haynesville since July 2019. In a call with investors to discuss 4Q2022 earnings earlier this month, CEO Steven Kean said Kinder is moving forward with the $678 million Evangeline, Only a few U.S.-based exploration and production (E&P) companies have provided formal capital spending plans for 2023, but expenditures overall are forecast to decelerate from a year ago. EVP Public and Government Affairs On March 28-29, 2023, Hart Energy LIVE's DUG Haynesville Conference & Exhibition will focus on how current global events have placed energy production at the center of our national conversation. According to the FNGA, over 97 percent of the natural gas used domestically is produced here, in North America. EnSight asset highlights: Current net production of ~45 million cubic feet of natural gas per day (MMcf/d) (100% natural gas) (1). 2023-01-12 - Equinor experienced a power outage at the Johan Sverdrup oilfield, leading to a reduced production rate for two consecutive days. Daten ber Ihr Gert und Ihre Internetverbindung, wie Ihre IP-Adresse, Browsing- und Suchaktivitten bei der Nutzung von Yahoo Websites und -Apps. The effective date of the transaction is August 1, 2022. Phone +1.832.320.9331 All rights reserved. 1.800.427.5747 We were aggressive on gas and everybody hated it, CEO Robert Ravnaas said. As Haynesvilles second growth phase began and operators returned to the previous record production numbers from the first boom in late-2019, the system touched the key 90% level of utilization, above which it may come under strain with bottlenecks occurring. That figure suggests excess takeaway capacity out of the Haynesville is at or below 900,000 Mcf/d, or about 7% of total capacity. Available forLicense (Click here to inquire), This STOCK Gulf Coast Natural GasPipeline Map The latter half of the year was dedicated to focusing on Chesapeakes midstream capacity, the company shared on its third-quarter 2022 earnings call, which includes developing a new pipeline project with an associated carbon capture and sequestration program. Acreage leased but not in production can be anywhere from $500 to $5,000 an acre based on activity in your area and production nearby. The Company is unable to present a reconciliation of forward-looking asset-level EBITDA because certain components of the calculation are subject to change. Stay in touch with the latest activities by subscribing to our daily email covering operators, service companies, (acreage, production rates, well info, development plans, resverse, and completions designs), Top Haynesville E&P Cuts 2023 Drilling Program By 22%, Southwestern Energy 4Q, Full Year 2022 Results; Talks 2023 Plans, Chesapeake Energy Q4, Full Year 2022 Results; IDs $1.8B 2023 Capex, Chesapeake Energy Third Quarter 2022 Results, Comstock Resources Third Quarter 2022 Results. In the basin, it also produced 2 Bcf/d of its total reported 5.19 Bcf/d across the combined Haynesville and Appalachian assets. Tellurian is based in Houston, Texas, and its common stock is listed on the NYSE American under the symbol TELL. Upon closing of the transactions, Chesapeake plans to operate two rigs on the acquired properties during 2022, resulting in a total of 9 - 11 gas-focused rigs and 2 - 3 oil-focused rigs. Under a scenario in which all new projects are approved, constructed, and are brought online, and the Mid-Con stays at its currently forecast low levels, the system will stay at a level comfortably under 90% well into the medium term, providing sufficient capacity for a booming third growth phase. Petrohawk Energy Corp. and Chesapeake Energy Corp. both announced lease acreages in Louisiana, sparking a flood of interest to the region. 2023 Shale Experts, All rights reserved. https://www.shaleexperts.com/articles/Comstocks-2021-Budget-Up-Slightly-YOY-Q4Full-Year-2020-Results_999946616?utm_source=HaynesvilleShaleLandPg. Reduced gas supply from oil-heavy basins has fueled a rally in the Henry Hub 2021 forward gas curve. ShaleTech: Haynesville-Bossier Shales Controlled by Jerry Jones, the flamboyant owner of the National Football League (NFL) Dallas Cowboys, Comstock became a premier Haynesville operator with the $2.2-billion acquisition of pure play firm Covey Park Energy LLC in July 2019. 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. TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions. New York Haynesville gas production is surging into the new year, climbing to its highest in nearly eight months, as operators there respond to a bullish outlook for the basins strategically located supply. The Company had 29 drilled but uncompleted wells at year-end. Stay in touch with our Daily Email Newsletter. 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. In the fourth quarter, operators in the Texas-Louisiana shale play added 10 rigs, bringing the total fleet to 46 as of Dec. 30, according to data published by Enverus. Started by Skip Peel - Mineral Consultant in Shale Related Topics Feb 22. Although Tellurian may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws. https://www.worldoil.com/magazine/2020/december-2020/features/shaletech-haynesville-bossier-shales, Source: U.S. Energy Information Administration (EIA), NATURAL GAS 06 Jan 2021 | 22:34 UTC New York, Amid bullish outlook, Haynesville gas producers gear up for record output in 2021, Production averaging over 13 Bcf/d in January, Rig count hits 12-month high at 46 on Dec. 30, Tighter supply, record exports bullish for Haynesville. "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. The forward-looking statements in this press release speak as of the date of this release. CALGARY, Alberta, March 01, 2023 (GLOBE NEWSWIRE) -- STEP Energy Services Ltd. (the "Company" or "STEP") is pleased to announce its financial and operating results for the three and twelve months ended December 31, 2022. The. is operating three rigs and one companion frac spread, but is still formulating the 2021 program, which will be presented to stakeholders in February, says Investor Relations Director David Erdman. GMX Resources Goodrich Petroleum Indigo Minerals JW Operating Memorial Resource Dev. 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. Panola Rockcliff Energy Operating LLC. Matt Phillips 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. Started by Skip Peel - Mineral Consultant in Shale Related Topics Feb 11. No problem. Our Business . A surprise standout in the EIA's report was Florida. Dry natural gas production from the Haynesville shale play in northeastern Texas and northwestern Louisiana reached new highs in the second half of 2021, and production has remained relatively strong in early 2022. 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. The Appalachian Basin's Marcellus play remains the highest-producing shale gas play in the United States, producing an average 31.7 Bcf/d of natural gas during 2021. In late October, the run-up in prices peaked as the calendar-year average topped $3.15/MMBtu. Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today that its wholly owned subsidiary Tellurian Production LLC (TPC) has entered into an agreement to purchase natural gas assets from privately held EnSight IV Energy Partners, LLC and EnSight Haynesville Partners, LLC (collectively EnSight) located in the Haynesville Shale. Certainly nothing that was useful as we negotiated a lease. Driven by newer technology, operators have extended lateral lengths from 4,500 feet to 7,500 feet with higher proppant intensities per foot. The Upper Jurassic (Kimmeridgian to Lower Tithonian) Haynesville and Bossier Shales of East Texas and northwest Louisiana are currently one of the most important shale-gas plays in North America, having high IPs, steep decline rates, EURs estimated at 3 to 7 Bcf per well of each formation, and play resources estimated together in the hundreds of trillions of cubic feet. By comparison, wells in the Marcellus in the Appalachian Basin are shallowerbetween 4,000 feet and 8,500 feet," Fleury wrote. Alternative energy deals make their mark as sector dominates 2022 M&A . Drilling and finishing a conventional horizontal Haynesville well typically costs between US$7 million and $8 million, largely depending on lateral length, drilling costs, and pressure pumping services. 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. The U.S. will become the biggest seller of the super-chilled fuel in 2025., As reported by oilprice.com Started by Ellen Eakin in Shale Related Topics. State of Shale 2023, Haynesville: A Slumbering Giant? The effective date of the transaction is August 1, 2022. According to GlobalData, natural gas production in the Haynesville shale is projected to grow at CAGR of 3% during 2021-25. Already have an account ? Phone +1.832.962.4044 In addition, they reported the increase in Haynesville activity as one of the key factors that is supporting the supply imbalance in our 2023 natural gas supply-demand work. (Click here to inquire). Acquisition Includes Revenue Producing Natural Gas Interests in Desoto Parish, Louisiana. In addition to its overall size, the Haynesville is known for its high porosities. The second private company to emerge as a Haynesville top player, Rockcliff production totaled 205,997 boe/d in the Haynesville in the first half of the year, according to Enverus. A searchable database of oil and gas debt and equity offerings. Follow the topics you want and receive the daily emails. Gunvor Group Ltd. has the option to terminate its deal to buy supplies from the proposed Driftwood LNG terminal after a deadline passed Tuesday for Tellurian Inc. to meet certain conditions. Database of selected U.S. and international exploration wells. Natural gas is an abundant resource across the United States. 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. 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. Tellurian Inc., which is developing the 27.6 mtpa Driftwood LNG project south of Lake Charles, produced an average of 225 MMcf/d in fourth-quarter 2022 and expects production to remain flat in 2023. A key factor in Haynesvilles ability to sustain an advantage against the Appalachian region will be to maintain the relative ease with which operators can transport gas from wellheads to Gulf coast markets, compared to the bottlenecks and mid-stream project cancellations that producers in the Northeast have to grapple with. Washington DC | New York | Houston | Pittsburgh | Mexico City Calgary | Chile. 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. 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