There's nothing particularly new about these kind of figures (and they seem more conservative than the ones imported by ADI) but more people are talking them. I don't know what it will take for the market to start believing in them but it might me quite exciting once faith is restored.
ADI - Adelphi Energy
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You may be right.
what about switching from ADI to AMCOR shares ? AMCOR bought the Alcan stake from Rio and also makes good tissues to wipe out tears
I am holding ADI and not complaining as a passive contributor to this thread. My betting horse is Agentm - He or She knows about ADI many times more than I know about oil and gas.
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in a word
absofriggenlutely
You may be right.
what about switching from ADI to AMCOR shares ? AMCOR bought the Alcan stake from Rio and also makes good tissues to wipe out tears
I am holding ADI and not complaining as a passive contributor to this thread. My betting horse is Agentm - He or She knows about ADI many times more than I know about oil and gas.
miner
its always good to look at regional research, and it appears that i have gone from being laughed at in the early days to being somewhat correct about everything on the eagleford and the sugarkane. AUT have made it clear they believe its a legitimate play as have all jvp partners..
in terms of investing on the research, i always think that in a high risk high reward share such as adi is, then exposure to risk needs careful consideration, and all research needs investigating also, i try and reference as much as i can to at least demonstrate other major players are also seeing and investing in what i have invested in. and sugarkane imho is worth substantially more in the ground in texas than what they grow in queensland
i know plenty who are very heavily invested, and all have the same ideal, invest for the outcome.. as it has the highest upside, and imho that is coming sooner than later..
this morning there are only 6100 shares available to buy. thats an indication imho of a change coming on adi..
it appears that each day the eagleford play is becoming derisked more and more.
eog for instance put out a presentation to their shareholders yesterday, and make no mention of their play nor its prospectiveness, despite having 2 rigs drilling EF wells in karnes county today, and 2 rigs drilling eagleford wells in gonzales ( a few miles north and across the county line where the conocophillips hooks well sits in dewitt)
petrohawk are spending 1 billion in exploring their 2 major shale plays in the coming 12 months
all imho and dyor
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in a word
absofriggenlutely
miner
its always good to look at regional research, and it appears that i have gone from being laughed at in the early days to being somewhat correct about everything on the eagleford and the sugarkane. AUT have made it clear they believe its a legitimate play as have all jvp partners..
in terms of investing on the research, i always think that in a high risk high reward share such as adi is, then exposure to risk needs careful consideration, and all research needs investigating also, i try and reference as much as i can to at least demonstrate other major players are also seeing and investing in what i have invested in. and sugarkane imho is worth substantially more in the ground in texas than what they grow in queensland
i know plenty who are very heavily invested, and all have the same ideal, invest for the outcome.. as it has the highest upside, and imho that is coming sooner than later..
this morning there are only 6100 shares available to buy. thats an indication imho of a change coming on adi..
it appears that each day the eagleford play is becoming derisked more and more.
eog for instance put out a presentation to their shareholders yesterday, and make no mention of their play nor its prospectiveness, despite having 2 rigs drilling EF wells in karnes county today, and 2 rigs drilling eagleford wells in gonzales ( a few miles north and across the county line where the conocophillips hooks well sits in dewitt)
petrohawk are spending 1 billion in exploring their 2 major shale plays in the coming 12 months
all imho and dyor
Thanks Agentm
In short I am brave to admit it and probably many are on the same road but will not admit that your research has been commendable. I am at least getting value from my investment reading your research notes.
There are few others like you in this ASF who also contribute their work and reserach notes on many other stocks which many of us reap the benefits.
I should also admit to thank one of the outstanding contributors who has helped and coached me to write better English as well.
Yes as you said, I am also learning to rely on outcomes leaving emotion on stocks in the bin.
So my ADI is still looking good and thanks again.
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these presentations on the eagleford are extremely interesting, the improvements across the industry operators in the eagleford is something worth keeping in mind.. its obvious to me that all competitors are achieving significant improvements and learning off each other..
i would love some brokers in australia start to take note of this and countless other competitiors and appreciate that the eagleford, and in the case of adi, the sugarkane (eagleford and chalks combined) are the real deal.. ffs start talking it up i say
rosetta and swift like the eagleford and keep on looking at the resource potential there with very big upsides..
http://www.swiftenergy.com/SFY/Publications/Presentations-and-Speeches/2009/IPAA-OGIS-SFY-9-2009.pdf
http://files.shareholder.com/downlo...A649/092909_OGIS_San_Francisco-M_Rosinski.pdf
they both say very upbeat things about it, and report they had an eagleford well produce 5.57 mmcfpd on a 7 day run, then in our acreages a well like that would produce 1392 bopd based on the reports from adi. swift report ip's as high as 9.7 mmcfpd, which equates to a 2375 bopd if they were flowing in the sugarkane acreages. which gets you your well cost back in about 40 days!!
• It has very high liquids yield (250 barrels of oil per million cubic feet of gas – higher than the
50 to 100 barrels of oil per million cubic feet of gas reported in the Petrohawk areas).
rosetta say:
Increased Eagle Ford acreage by 60% to over 40,000 net acres
Drilled 3 Eagle Ford wellsSpringer
Ranch #1H produced 39 MMcf during first seven days
Gates #9 well completion pending
Vela #1 set up for horizontal drilling
Opportunistic Growth
South Texas Eagle Ford Shale
i would love some brokers in australia start to take note of this and countless other competitiors and appreciate that the eagleford, and in the case of adi, the sugarkane (eagleford and chalks combined) are the real deal.. ffs start talking it up i say
rosetta and swift like the eagleford and keep on looking at the resource potential there with very big upsides..
http://www.swiftenergy.com/SFY/Publications/Presentations-and-Speeches/2009/IPAA-OGIS-SFY-9-2009.pdf
http://files.shareholder.com/downlo...A649/092909_OGIS_San_Francisco-M_Rosinski.pdf
they both say very upbeat things about it, and report they had an eagleford well produce 5.57 mmcfpd on a 7 day run, then in our acreages a well like that would produce 1392 bopd based on the reports from adi. swift report ip's as high as 9.7 mmcfpd, which equates to a 2375 bopd if they were flowing in the sugarkane acreages. which gets you your well cost back in about 40 days!!
• It has very high liquids yield (250 barrels of oil per million cubic feet of gas – higher than the
50 to 100 barrels of oil per million cubic feet of gas reported in the Petrohawk areas).
rosetta say:
Increased Eagle Ford acreage by 60% to over 40,000 net acres
Drilled 3 Eagle Ford wellsSpringer
Ranch #1H produced 39 MMcf during first seven days
Gates #9 well completion pending
Vela #1 set up for horizontal drilling
Opportunistic Growth
South Texas Eagle Ford Shale
Just a reminder folks - this stock hit $1.00 on 16/1/07 and started life in the mid 40s. For anybody that's been holding this patiently for a LONG time, these prices are pathetic. The current price is still reflecting one of the largest assets bubbles popping in history with next to no appetite for risk amongst the investment community. Remember too that the company had to raise money at 6c recently to stay alive. The difference between 2007 and now is massive, and can be seen in the share price.
Of course there is upside from here, but there's no way it'll materialize until they are pumping large amounts gas and fluids down a pipeline to sales. I'm not being negative on the company, I think they've done very well just to survive. So many of these small cap companies have simply closed the doors and told shareholders 'bad luck'. That's the risk we take. If we get to $1.00 again, we will all be rewarded for our patience, but until then its still hold and hope for many.
Of course there is upside from here, but there's no way it'll materialize until they are pumping large amounts gas and fluids down a pipeline to sales. I'm not being negative on the company, I think they've done very well just to survive. So many of these small cap companies have simply closed the doors and told shareholders 'bad luck'. That's the risk we take. If we get to $1.00 again, we will all be rewarded for our patience, but until then its still hold and hope for many.
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i would hope adi can report their cash from yemen is secured, and also a nice update on which well gets worked over first.
adi would also be considering acquisitions in the near term imho
i agree that .10 is hardly a comforting sp for holders, and i know many have doubled up when the distressed sellers took adi to .06.. i know i did
with the aussie dollar strengthening and the apparent strength in the oil keeps the sugarkane an attractive prospect.
its early days and there has been no news at all since the hilcorp announcement.. things must change soon and i hope in the near term we will all be clearer of the way forward.
good solid trading of late..
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great news
time to see some action..
Adelphi Energy Limited
Via ASX Online
SUGARLOAF AMI: SUGARKANE GAS & CONDENSATE FIELD WORK PROGRAM
Adelphi Energy Limited (“Adelphi”) is pleased to announce that it has been advised by Texas Crude Energy Inc (“TCEI”), the operator of the Sugarloaf AMI, that planning and initial preparatory work has commenced on the stimulation and completion program for the 3 existing horizontal wells within the Sugarloaf AMI. This work forms the first stage of the workscope required to be funded by Hilcorp Energy (“Hilcorp”) to earn its interests in the field
under the recently announced farm-in deal.
The wells will be stimulated using a fracture design that is based upon recent operations within the Eagle Ford trend as well as taking account of the specific nature of the Sugarkane field. TCEI has advised that the major part of the work program is likely to start in November, subject to the availability of rigs and equipment. In preparation for the fracture stimulation operations, shallow water wells will be drilled and holding pits will be dug at each well
location. This work has commenced at the Weston -1H well.
Prior to November, a rig will be mobilised to the Kowalik -1H well location to attempt to pull the slotted liner which was originally deployed in the horizontal open hole of this well. If successful the rig will then run and cement a conventional liner and the well will be fracture stimulated in similar fashion to that planned for the other two horizontal wells. If the slotted
liner is unable to be recovered, it is likely that an acid stimulation will be attempted on the well. This alternative treatment has been successfully applied locally within the Austin Chalk.
In addition, planning has commenced for a 2010 drilling program as part of the recently announced farm-in deal, with the first wells drilled in this program likely to be within the Sugarloaf AMI. Under the terms of the Adelphi farm-out agreement all 3 new horizontal wells must have started by mid-2011 for Hilcorp to qualify for its full interest within the Sugarloaf AMI.
Whilst this program of work remains subject to change, it does represent a significant acceleration of activity on Adelphi’s Sugarloaf AMI acreage over the coming months. In addition to the Sugarloaf AMI wells, Hilcorp will also be involved in drilling up to 7 additional wells targeting the same play in adjoining acreage. As a result of this activity and the significant number of wells scheduled for drilling by competitor companies in the Eagle Ford
regional play near to the Sugarloaf AMI, we can expect to see continuous improvement in the understanding of and value of our asset.
Adelphi currently (pre-farmout) has a 20% working interest in the Sugarloaf AMI. Other ASX listed participants in the Sugarloaf JV, and their respective working interests are currently:
Aurora Oil and Gas Limited 20%
Eureka Energy Limited 12.5%
This release is available on the Company’s website at: www.adelphienergy.com.au
For inquiries please contact:
Chris Hodge, Managing Director
Telephone: +61 8 9480 1300
Email: info@adelphienergy.com.au
Yours faithfully
CHRIS HODGE
Managing Director
Adelphi Energy Limited
time to see some action..
Adelphi Energy Limited
Via ASX Online
SUGARLOAF AMI: SUGARKANE GAS & CONDENSATE FIELD WORK PROGRAM
Adelphi Energy Limited (“Adelphi”) is pleased to announce that it has been advised by Texas Crude Energy Inc (“TCEI”), the operator of the Sugarloaf AMI, that planning and initial preparatory work has commenced on the stimulation and completion program for the 3 existing horizontal wells within the Sugarloaf AMI. This work forms the first stage of the workscope required to be funded by Hilcorp Energy (“Hilcorp”) to earn its interests in the field
under the recently announced farm-in deal.
The wells will be stimulated using a fracture design that is based upon recent operations within the Eagle Ford trend as well as taking account of the specific nature of the Sugarkane field. TCEI has advised that the major part of the work program is likely to start in November, subject to the availability of rigs and equipment. In preparation for the fracture stimulation operations, shallow water wells will be drilled and holding pits will be dug at each well
location. This work has commenced at the Weston -1H well.
Prior to November, a rig will be mobilised to the Kowalik -1H well location to attempt to pull the slotted liner which was originally deployed in the horizontal open hole of this well. If successful the rig will then run and cement a conventional liner and the well will be fracture stimulated in similar fashion to that planned for the other two horizontal wells. If the slotted
liner is unable to be recovered, it is likely that an acid stimulation will be attempted on the well. This alternative treatment has been successfully applied locally within the Austin Chalk.
In addition, planning has commenced for a 2010 drilling program as part of the recently announced farm-in deal, with the first wells drilled in this program likely to be within the Sugarloaf AMI. Under the terms of the Adelphi farm-out agreement all 3 new horizontal wells must have started by mid-2011 for Hilcorp to qualify for its full interest within the Sugarloaf AMI.
Whilst this program of work remains subject to change, it does represent a significant acceleration of activity on Adelphi’s Sugarloaf AMI acreage over the coming months. In addition to the Sugarloaf AMI wells, Hilcorp will also be involved in drilling up to 7 additional wells targeting the same play in adjoining acreage. As a result of this activity and the significant number of wells scheduled for drilling by competitor companies in the Eagle Ford
regional play near to the Sugarloaf AMI, we can expect to see continuous improvement in the understanding of and value of our asset.
Adelphi currently (pre-farmout) has a 20% working interest in the Sugarloaf AMI. Other ASX listed participants in the Sugarloaf JV, and their respective working interests are currently:
Aurora Oil and Gas Limited 20%
Eureka Energy Limited 12.5%
This release is available on the Company’s website at: www.adelphienergy.com.au
For inquiries please contact:
Chris Hodge, Managing Director
Telephone: +61 8 9480 1300
Email: info@adelphienergy.com.au
Yours faithfully
CHRIS HODGE
Managing Director
Adelphi Energy Limited
ADI has copped a speeding ticket from ASX. LOL The ASX [and the market] would do well to read the recent company announcements. Prospects are looking good for ADI now after a long wait. If ADI can get the cash from the Yemen sale soon it will further boost the SP. Happy to be a holder
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the part worthy of note is the 10 wells in 2010
Planning has also commenced for a 2010 drilling program across the Sugarkane farmin area.
10 wells are scheduled to be drilled across the larger Sugarkane area next year with the first wells drilled in this program likely to be within the Sugarloaf AMI
this has to impact on the prospectivity of the play surely?
7 tcf in ground is what adi claim is potentially there on its acreages alone!
Planning has also commenced for a 2010 drilling program across the Sugarkane farmin area.
10 wells are scheduled to be drilled across the larger Sugarkane area next year with the first wells drilled in this program likely to be within the Sugarloaf AMI
this has to impact on the prospectivity of the play surely?
7 tcf in ground is what adi claim is potentially there on its acreages alone!
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Good work and Good reward Agentm
I am very pleased to see some outcome from your research is paid by stock prices.
Hope the good days have begun to pay off all those waitlisted
Dislcaimer : Of course I hold ADI
I am very pleased to see some outcome from your research is paid by stock prices.
Hope the good days have begun to pay off all those waitlisted
Dislcaimer : Of course I hold ADI
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hey miner
a .05 cent rise on news of a well completions and followed by a well being drilled every month in 2010 was very muted. infact adi had more of a rise last week on no news (if you believe that there was no leak which adi answered in the speeding ticket)
i will post up the front page of the houston chronicle a bit later, it may impress a few..
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a few friends from texas alerted me last night to the front page of houston chronicle yesterday
MAMMOTH DISCOVERY
Companies bet big on South Texas gas find
By BRETT CLANTON Copyright 2009 Houston Chronicle
Last October, just as the economy was tilting into crisis, a small oil and gas company in Houston quietly announced the discovery of a mammoth natural gas field in South Texas that at any other time might have garnered bigger headlines.
Petrohawk Energy's find, however, did not go unnoticed in the oil and gas industry — and it didn't take long before oil companies large and small began making their moves.
Today, though the economy and natural gas prices remain weak, the Eagle Ford shale remains one of the hottest prospects in North America, and energy companies are moving forward there even as they're pulling back elsewhere.
That's because of what some companies suggest is a virtually recession-proof combination of highly productive wells and low drilling costs they say can yield profits even as natural gas prices hover near seven-year lows.
Also attractive: the flat South Texas ranch land, where obstacles are few and Gulf Coast oil and gas infrastructure is nearby; and landowners have grown comfortable with the industry after decades of oil drilling.
“You can certainly make more money from wells than cows,” said Joe Martin, whose family leased nearly 20,000 acres of land to Petrohawk in LaSalle County for drilling.
But it may still be a while before the full potential of the Eagle Ford shale is known. Though early results are promising, companies have been cautious about overstating what could be in the ground, especially since so few wells have been drilled so far.
“What we're going to find out, as with most shale plays, is there's going to be sweet spots,” said Bob Banks, chief operating officer at Swift Energy, a Houston-based oil company with nearly 90,000 acres leased in the Eagle Ford. “That's what we don't know yet, which areas are really going to work better than the others because it's pretty early days.”
Recently discovered U.S. shale plays, including the Haynesville in Louisiana and Marcellus in Pennsylvania, are expected to provide a major boost to U.S. natural gas supplies in coming years. The dense rock formations, once thought too difficult to explore, have been unlocked with the help of recent advances in drilling technology.
The core areas of the eight largest U.S. shale plays may contain 475 trillion cubic feet of recoverable resources, according to an estimate by Ross Smith Energy Group, an industry research firm in Calgary, Alberta. That's roughly ten times the size of Texas' famed Barnett shale play in the Dallas-Fort Worth area, which supplies nearly 10 percent of U.S. natural gas production, excluding Alaska.
$3.88 break-even point
While the Eagle Ford is among the smallest of the group, with some 19 trillion cubic feet of natural gas remaining, the economics is among the best, the firm said.
Producers in the Eagle Ford can break even when natural gas is priced as low as $3.88 per million British thermal units, the firm said, versus break-even prices of $5.18 in the Barnett, $3.74 in the Marcellus and $4.49 in the Haynesville.
Natural gas closed at $4.99 per million BTUs Monday in trading on the New York Mercantile Exchange, down from nearly $14 in summer of 2008, amid a recession-related drop in demand and bulging stockpiles. Consumption will fall by 2.4 percent this year and remain flat in 2010, according to the Energy Information Administration's most recent short-term forecast.
A potential boom
Yet that has not stopped companies from pushing ahead in the Eagle Ford play, which starts near the Mexican border and extends east below San Antonio across a string of counties including Webb, Dimmit, LaSalle, McMullen and Live Oak.
“It's got the potential of being a boom,” said Martin, whose family leased to Petrohawk, noting that land prices in the region have risen to $1,500 per acre in some places, 10 times what they were two years ago.
Houston's Petrohawk, with 210,000 acres in the Eagle Ford, has been the most active. It operates 17 wells in the Eagle Ford and aims to add another seven or eight by year-end, said Joan Dunlap, the company's head of investor relations. This month, the company said it will sell its properties in West Texas' oil-rich Permian Basin to an unidentified privately held company for $376 million to focus on its assets in the Eagle Ford and Haynesville shale plays.
Asked if the Eagle Ford could be as big as other major U.S. shale gas plays, like the Barnett shale, Dunlap said, “it's a big question mark.”
Other oil and gas companies including Pioneer Natural Resources, Swift Energy and Anadarko Petroleum Corp. also have drilled wells in the Eagle Ford or are planning to in coming months.
Less clear are the intentions of Houston-based ConocoPhillips and Irving-based Exxon Mobil Corp., each of which has large acreage positions in the Eagle Ford.
Houston's ConocoPhillips, with 300,000 acres, considers the region “one of the top resource plays in the lower 48” and will concentrate much of its 2009 exploration spending in the Eagle Ford and other North American unconventional resource plays, spokesman Charlie Rowton said. But he declined to elaborate.
Exxon Mobil confirmed it holds an interest in the Eagle Ford shale in La Salle and McMullen counties, but a spokesman said, “the details of the exploration program are considered confidential.”
Exxon Mobil confirmed it holds an interest in the Eagle Ford shale in La Salle and McMullen counties, but a spokesman said, “the details of the exploration program are considered confidential.”
Bob Fryklund, industry analyst with IHS-Cambridge Energy Research Associates in Houston, said highly diversified oil majors may not have the same urgency to act as independent oil and gas producers do.
“This is just one portion of their portfolio, while for a lot of the independents it's their whole portfolio,” he said.
But increasing moves by major international oil companies into U.S. shale plays, he said, suggest they may see more potential there than they once did.
MAMMOTH DISCOVERY
Companies bet big on South Texas gas find
By BRETT CLANTON Copyright 2009 Houston Chronicle
Last October, just as the economy was tilting into crisis, a small oil and gas company in Houston quietly announced the discovery of a mammoth natural gas field in South Texas that at any other time might have garnered bigger headlines.
Petrohawk Energy's find, however, did not go unnoticed in the oil and gas industry — and it didn't take long before oil companies large and small began making their moves.
Today, though the economy and natural gas prices remain weak, the Eagle Ford shale remains one of the hottest prospects in North America, and energy companies are moving forward there even as they're pulling back elsewhere.
That's because of what some companies suggest is a virtually recession-proof combination of highly productive wells and low drilling costs they say can yield profits even as natural gas prices hover near seven-year lows.
Also attractive: the flat South Texas ranch land, where obstacles are few and Gulf Coast oil and gas infrastructure is nearby; and landowners have grown comfortable with the industry after decades of oil drilling.
“You can certainly make more money from wells than cows,” said Joe Martin, whose family leased nearly 20,000 acres of land to Petrohawk in LaSalle County for drilling.
But it may still be a while before the full potential of the Eagle Ford shale is known. Though early results are promising, companies have been cautious about overstating what could be in the ground, especially since so few wells have been drilled so far.
“What we're going to find out, as with most shale plays, is there's going to be sweet spots,” said Bob Banks, chief operating officer at Swift Energy, a Houston-based oil company with nearly 90,000 acres leased in the Eagle Ford. “That's what we don't know yet, which areas are really going to work better than the others because it's pretty early days.”
Recently discovered U.S. shale plays, including the Haynesville in Louisiana and Marcellus in Pennsylvania, are expected to provide a major boost to U.S. natural gas supplies in coming years. The dense rock formations, once thought too difficult to explore, have been unlocked with the help of recent advances in drilling technology.
The core areas of the eight largest U.S. shale plays may contain 475 trillion cubic feet of recoverable resources, according to an estimate by Ross Smith Energy Group, an industry research firm in Calgary, Alberta. That's roughly ten times the size of Texas' famed Barnett shale play in the Dallas-Fort Worth area, which supplies nearly 10 percent of U.S. natural gas production, excluding Alaska.
$3.88 break-even point
While the Eagle Ford is among the smallest of the group, with some 19 trillion cubic feet of natural gas remaining, the economics is among the best, the firm said.
Producers in the Eagle Ford can break even when natural gas is priced as low as $3.88 per million British thermal units, the firm said, versus break-even prices of $5.18 in the Barnett, $3.74 in the Marcellus and $4.49 in the Haynesville.
Natural gas closed at $4.99 per million BTUs Monday in trading on the New York Mercantile Exchange, down from nearly $14 in summer of 2008, amid a recession-related drop in demand and bulging stockpiles. Consumption will fall by 2.4 percent this year and remain flat in 2010, according to the Energy Information Administration's most recent short-term forecast.
A potential boom
Yet that has not stopped companies from pushing ahead in the Eagle Ford play, which starts near the Mexican border and extends east below San Antonio across a string of counties including Webb, Dimmit, LaSalle, McMullen and Live Oak.
“It's got the potential of being a boom,” said Martin, whose family leased to Petrohawk, noting that land prices in the region have risen to $1,500 per acre in some places, 10 times what they were two years ago.
Houston's Petrohawk, with 210,000 acres in the Eagle Ford, has been the most active. It operates 17 wells in the Eagle Ford and aims to add another seven or eight by year-end, said Joan Dunlap, the company's head of investor relations. This month, the company said it will sell its properties in West Texas' oil-rich Permian Basin to an unidentified privately held company for $376 million to focus on its assets in the Eagle Ford and Haynesville shale plays.
Asked if the Eagle Ford could be as big as other major U.S. shale gas plays, like the Barnett shale, Dunlap said, “it's a big question mark.”
Other oil and gas companies including Pioneer Natural Resources, Swift Energy and Anadarko Petroleum Corp. also have drilled wells in the Eagle Ford or are planning to in coming months.
Less clear are the intentions of Houston-based ConocoPhillips and Irving-based Exxon Mobil Corp., each of which has large acreage positions in the Eagle Ford.
Houston's ConocoPhillips, with 300,000 acres, considers the region “one of the top resource plays in the lower 48” and will concentrate much of its 2009 exploration spending in the Eagle Ford and other North American unconventional resource plays, spokesman Charlie Rowton said. But he declined to elaborate.
Exxon Mobil confirmed it holds an interest in the Eagle Ford shale in La Salle and McMullen counties, but a spokesman said, “the details of the exploration program are considered confidential.”
Exxon Mobil confirmed it holds an interest in the Eagle Ford shale in La Salle and McMullen counties, but a spokesman said, “the details of the exploration program are considered confidential.”
Bob Fryklund, industry analyst with IHS-Cambridge Energy Research Associates in Houston, said highly diversified oil majors may not have the same urgency to act as independent oil and gas producers do.
“This is just one portion of their portfolio, while for a lot of the independents it's their whole portfolio,” he said.
But increasing moves by major international oil companies into U.S. shale plays, he said, suggest they may see more potential there than they once did.
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Agentm
Thanks for the detailed posting which unfolds more facts.
Holy Cow the break even point for eagleford could be at $3.88 !
I should have accumulated more ADI then. But it is okay. I do not want to be greedy or seen as greedy.
There were plenty red in my portfolio and gradually and slowly most of them are turning into green. Thanks to ASF and contributors like you and few others have made fantastic input for dummies like me.
Hope I can smile all through in this financial year
Thanks for the detailed posting which unfolds more facts.
Holy Cow the break even point for eagleford could be at $3.88 !
I should have accumulated more ADI then. But it is okay. I do not want to be greedy or seen as greedy.
There were plenty red in my portfolio and gradually and slowly most of them are turning into green
. Thanks to ASF and contributors like you and few others have made fantastic input for dummies like me. Hope I can smile all through in this financial year
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just remember we are in the suagrkane, so its eagleford plus the chalks!!
and oil is not being produced at 50 - 100 bopd off 1mmcfpd like the maujority are experiencing in the eagleford, but all wells in the sugarkane produce at 250 - 320 bopd per 1mmcfpd
breakeven is way lower than that
bubba.. things are getting interesting in gonzales!!
http://www.globenewswire.com/newsroom/news.html?d=174819
Source: Lucas Energy
Lucas Energy, Inc. Ervin No.1 Well Drilling Progress
HOUSTON, Oct. 6, 2009 (GLOBE NEWSWIRE) -- Lucas Energy, Inc. (NYSE Amex:LEI) an independent oil and gas company (the "Company") based in Houston, Texas, today announced that the Ervin No.1 well, Gonzales County, Texas has reached TD (total depth) and has been logged and cased. Preliminary analysis of the well logs indicate the potential for completions in three intervals: (1) the Buda formation, (2) the Eagleford Shale formation, and (3) the Austin Chalk formation. Expectations are that the successful completion of any one of these formations could result in a 5-10% increase in the Company's net production.
William A. Sawyer, President and CEO of Lucas Energy, said, "The Ervin No.1 well is a part of our 2009-II joint venture program with partners that we hope will participate in additional drilling and workovers beyond the current six well program." Additional information will be posted on the Lucas web site (www.lucasenergy.com) within the next few days.
and oil is not being produced at 50 - 100 bopd off 1mmcfpd like the maujority are experiencing in the eagleford, but all wells in the sugarkane produce at 250 - 320 bopd per 1mmcfpd
breakeven is way lower than that
bubba.. things are getting interesting in gonzales!!
http://www.globenewswire.com/newsroom/news.html?d=174819
Source: Lucas Energy
Lucas Energy, Inc. Ervin No.1 Well Drilling Progress
HOUSTON, Oct. 6, 2009 (GLOBE NEWSWIRE) -- Lucas Energy, Inc. (NYSE Amex:LEI) an independent oil and gas company (the "Company") based in Houston, Texas, today announced that the Ervin No.1 well, Gonzales County, Texas has reached TD (total depth) and has been logged and cased. Preliminary analysis of the well logs indicate the potential for completions in three intervals: (1) the Buda formation, (2) the Eagleford Shale formation, and (3) the Austin Chalk formation. Expectations are that the successful completion of any one of these formations could result in a 5-10% increase in the Company's net production.
William A. Sawyer, President and CEO of Lucas Energy, said, "The Ervin No.1 well is a part of our 2009-II joint venture program with partners that we hope will participate in additional drilling and workovers beyond the current six well program." Additional information will be posted on the Lucas web site (www.lucasenergy.com) within the next few days.
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Hi Agentm et. al
I saw this ASX note from AZZ. It is not about ADI but tells the unfolding story about Eagleford Shale discovery. Their area is very near to ADI and we can enhance our correlation factor for similar zoning effect.
I saw this ASX note from AZZ. It is not about ADI but tells the unfolding story about Eagleford Shale discovery. Their area is very near to ADI and we can enhance our correlation factor for similar zoning effect.
Finally ADI starting to see a bit of blue sky. Up around 14c without too many sellers looking positive.
Sold out of WDR when i should held longer. I know they have nothing to do with this thread but it would be nice to know how & what are the tell tale signs (if any) of when to sell.
Like WDR they had a retrace to 39c and have now jumped up to 70c with no apparent news.
In your case Agentm would be pleased with the rewards with your constant research finally starting to pay off but a what point would you exit?
Sold out of WDR when i should held longer. I know they have nothing to do with this thread but it would be nice to know how & what are the tell tale signs (if any) of when to sell.
Like WDR they had a retrace to 39c and have now jumped up to 70c with no apparent news.
In your case Agentm would be pleased with the rewards with your constant research finally starting to pay off but a what point would you exit?
