The purchase price is $125 million, subject to customary closing adjustments, and a contingent payment of $7.5 million which is based on the price of natural gas and may be payable in March 2023 under certain conditions. Our Business . Natural gas is utilized by all sectors: residential, industrial, commercial,transportation and electric power. The Haynesville shale of northeastern Texas and northwestern Louisiana is the third-largest shale gas-producing play in the United States. $476.9 million was spent to develop its Haynesville and Bossier shale properties, comprised of $436.1 millionon drilling and completing wells and an additional $40.8 million on other development activity. 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. Changes in technology and industry practices, combined with an increased understanding of the regional geologic framework, can have a significant effect on what resources become technically recoverable, Walter Guidroz, program coordinator of the USGS Energy Resources Program, said about his scientists new assessment of the Haynesville Shale. 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. 2023-01-12 - Equinor experienced a power outage at the Johan Sverdrup oilfield, leading to a reduced production rate for two consecutive days. According to data by the EIA, Haynesville natural gas production accounted for about 13 percent of all U.S. dry natural gas production in February 2022. Created Date: 20230223161325-06 . The Haynesvilles close proximity to existing infrastructureincluding an extensive pipeline system, processing plants and Gulf Coast LNG export terminals makes the play an attractive operating environment with efficient cycle times from drilling to sales. Active County >>, Haynesville Shale Rig Data & Trends, Tellurian to Acquire Haynesville Assets from EnSight for $125 Million, PE-Backed Clearfork to Acquire Azure Midstream, New Midstream Co. Secures Capital from EnCap Flatrock, Enable Midstream Gets Approval for Gulf Run Pipeline, More Midstream Haynesville is the third-largest. Please check your browser settings or contact your system administrator. Comstock also spent $7.9 million on leasing activity. More recently, Energy Transfer said it has started construction of the 1.65 Bcf/d Gulf Run pipeline to move gas from the Louisiana Haynesville to the Gulf Coast. As the largest private producer in the Haynesville, Aethon produced 313,492 boe/d of its total 330,601 boe/d from the basin. Listen to the latest episode of our newest podcast, *Download Report Now* High Stakes for Natural Gas & The World Is All-In, N.A. It is one of the most revenue-generating shale plays in the U.S. USGS 2016 estimates undiscovered, technically recoverable mean resources of 1.1 Billion Barrels of Oil & 195.8 Trillion Cubic Feet of Gas in the Upper Jurassic Haynesville Formation. This press release contains forward-looking statements within the meaning of U.S. federal securities laws. Log in here Subscribe now to get unmatched and complete coverage of the Energy industry's entire landscape! 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. 2023-02-10 - Data on treated produced water can help the industry find more uses for the water that comes out of the reservoir during production. Oil & Gas 360 c/o EnerCom, Inc. 410 17th Street Suite 250 Denver, CO 80202 360support@enercominc.com 303-296-8834 E-mail for Advertising Information or call 303-296-8834 x 243 implementation of the first plunger lift system for the Haynesville shale; foamer treatment oversight; corrosion treatment . Patterson-UTI Expects +50 Rigs To be Added in 2023; PE-backed E&P To Lead. Supporting local gas development, at least six U.S. LNG export facilities will be up and running by 2022, most within easy reach of the Haynesville: Cheniere's Sabine Pass trains 1-5 in. 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. Petrohawk Energy Corp. and Chesapeake Energy Corp. both announced lease acreages in Louisiana, sparking a flood of interest to the region. Coterra Energy Q4, Full Year 2022 Results; 2023 Plans; PDC Energy Q4, Full Year 2022 Results; Bets Bulk of 2023 Capex on DJ Basin Covey Park Gas LLC Cubic Energy Denbury Resources Devon Energy El Paso Corp. EnCana Corp. Encore Acquisition East Daley recently predicted sub-$2 natural gas prices as a result of oversupply in 2023. According to World Oil Global LNG trade will rise 21% by 2025 from 2019, reaching 585 billion cubic meters. With new effects and cutting-edge, 3D modeling software, we can go beyond the norm and create that one of a kind technical animation, illustration, or oil and gas graphic animation youre looking for! 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. The three basins together accounted for 52% of U.S. dry natural gas production. FRISCO, TX, May 03, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Verde Bio Holdings, Inc. (OTCQB: VBHI), a growing oil and gas Company, today announced that it has entered into an agreement to. Last reply by Skip Peel - Mineral Consultant yesterday. We have seen a pickup in competition on the gas side that didnt exist, even six to 12 months ago, but that doesnt concern us or impede our ability to successfully execute our M&A strategy, he said. Haynesville Shale Overview Sandwiched between the also unconventional Cotton Valley, Bossier and Smackover formations, the Haynesville Shale is one of the most notable plays along the U.S. Gulf Coast. Certainly nothing that was useful as we negotiated a lease. The sales and purchase agreement (SPA) was amended to give Gunvor the option of walking away if Tellurian failed to meet conditions, including sanctioning, Comstock Resources Inc. spent 2022 shoring up its western Haynesville acreage that could provide a lot of potential in the independents long-term strategy to supply a surge LNG growth on the Gulf Coast, said CEO Jay Allison. State of Shale 2023, Haynesville: A Slumbering Giant? After reaching record-high production in 2021, the Haynesville Shale seemed to have a quiet2022, with a smattering of deal activity and attention seemingly focused more on LNG exports than production. 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. According to a forecast from Platts Analytics, export demand should remain near 11 Bcf/d through March before retreating below 10 Bcf/d from April to October as global demand wanes in the spring and summer. Through Align II, Tailwater consolidated its assets in the Haynesville Shale into a gas . 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. The company will maintain a disciplined capital reinvestment strategy, anticipating a 2022 reinvestment rate of approximately 47%. Operators in the Haynesville shale play are proud of the role they are playing in powering America and allies abroad. Ravnaas said others are taking notice of the improving market. Last reply by Skip Peel - Mineral Consultant Feb 22. Last reply by Skip Peel - Mineral Consultant Feb 13. Indigo will operate five to six rigs and no less than one dedicated frac crew next year on the 435,000 net acres under control. During the year ended December31, 2020, Comstock turned 76 (43.7 net) Haynesville shale wells to sales and currently expects to turn 14 (13.0 net) operated wells to sales in the first quarter of 2021. FRISCO, TX, Feb. 21, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - Verde Bio Holdings, Inc. (OTCQB: VBHI), a growing oil and gas Company, today announced that it has entered into an agreement to acquire revenue producing mineral and royalty interests in the prolific Haynesville Shale of Northern Louisiana . Spot prices for liquefied natural gas (LNG) delivery in Asia jumped to a six-year high this week aslower-than-normal temperatures in key LNG importers and continued growth inChinas industrialactivity boost demand., Aethon Energy Operating LLC Anadarko Petroleum Berry Petroleum Beusa Energy BG Group The Company is unable to present a reconciliation of forward-looking asset-level EBITDA because certain components of the calculation are subject to change. Started by Skip Peel - Mineral Consultant in Shale Related Topics Feb 11. Liquefied natural gas (LNG) is cooled to approximately minus 260 degrees Fahrenheit to achieve a liquid state for ease of shipping and storage. Energy Transfer has said it expects to complete Gulf Run by the end of 2022. These statements involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. LNG Prices Soar to Six-Year High 2023 Shale Experts, All rights reserved. More than 2,500 Subscribers rely on our data each day. Noble Energy Penn Virginia December 14, 2022 Liquefied Natural Gas , Shale Plays , Midstream Williams Signs LNG Deal Connecting Haynesville Gas to International Markets 36 bbl/d of its 347 bbl/d total oil production in the half came from the East Texas basin, as did 1.24 Bcf/d of its 1. Entire landscape 2023, Haynesville: a Slumbering Giant end of 2022 of interest to region. Play in the Haynesville, Aethon produced 313,492 boe/d of its total 330,601 boe/d the. Skip Peel - Mineral Consultant yesterday accounted for 52 % of U.S. federal securities laws the Johan Sverdrup oilfield leading... Log in here Subscribe now to get unmatched and complete coverage of the Energy industry & # ;... Started by Skip Peel - Mineral Consultant Feb 13 system administrator Feb 11 a flood of interest to the.... 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