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 9, 2011

PetroHawk's Liquids Push Continues; to Sell KinderHawk Stake

BANGALORE, May 5 - Petrohawk Energy's year-long efforts to reduce exposure to natural gas continued as it agreed to sell its 50 percent stake in Haynesville shale midstream joint venture to partner Kinder Morgan Energy Partners LP for $855 million.

Kinder Morgan will assume $65 million of Petrohawk's debt as part of the deal on the JV, KinderHawk Field Services, which the companies say is the largest gas gathering and midstream business in the Haynesville shale, northwest Louisiana.

"I think it's an outstanding deal... It should be an accretive event," MKM Partners analyst Curtis Trimble said.

Source: Reuters
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