Haynesville Shale

The Haynesville Shale is a rock formation mainly composed of consolidated clay-sized particles deposited and buried in northwest Louisiana and East Texas more than 170 million years ago during the Upper Jurassic age. It is characterized by ultra-low permeability but has a high porosity compared to other shales.

The Haynesville Shale came into prominence in 2008 as a potentially major shale gas resource. Producing natural gas from the Haynesville Shale involves drilling wells from 10,000 feet and to 13,000 feet deep. The formation is deeper in areas nearer the Gulf of Mexico. The Haynesville Shale has recently been estimated to be the largest natural gas field in the contiguous 48 states with an estimated 250 trillion cubic feet of recoverable gas. Production has boomed since late March 2008, creating a number of new millionaires in the Shreveport, Louisiana region.

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Monday, May 16, 2011

Kinder Morgan Energy Big Responsibility with Petrohawk Acquisition

Petrohawk agreed to sell its 50% stake in KinderHawk Field Services, a natural gas service provider in Louisiana’s Haynesville Shale field, to partner Kinder Morgan. Kinder Morgan also acquired a 25% stake in Petrohawk’s gas-gathering and treatment business in the Eagle Ford Shale field in south Texas and agreed to assume $65 million debt. The sale, along with an earlier $75 million sale of pipelines serving Arkansas’ Fayetteville Shale field, brings Petrohawk’s total divestiture this year to about a $1 billion.


Kinder Morgan will assume $65 million of Houston-based Petrohawk’s debt as part of the deal to divest its interest in the KinderHawk Field Services joint venture located in Texas and Louisiana. The companies will collaborate on a midstream joint venture in the more oil-rich Eagle Ford shale in south Texas, but with Petrohawk (NYSE: HK) holding majority interest of 75 percent. Kinder Morgan also said Thursday that it will spend $220 million to build new pipeline with a capacity of about 300,000 barrels per day for Petrohawk that will extend from the Eagle Ford shale to the Houston Ship Channel.


Source: Daily News Pulse


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