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.

Oil And Gas Boom Plays In The USA And Canada

Antrim Shale ANWAR Oil Shale - Austin Chalk - Avalon Shale -Bakken Oil Shale - Barnett Shale- Bone Spring - Bossier Shale -Brazil Oil Field - Cardium Shale - Chainman Shale - Chattanooga Shale -Collingwood Shale - Cumnock Shale - Duvernay Shale -Eagle Ford Shale - Exshaw Shale - Fayetteville Shale - Granite Wash - Green River Basin Oil Shale - Haynesville Shale - Horn River Shale - Huron Shale - Kern County Oil Field - Leonard Shale- Marcellus Shale - Monterey Shale - Montney Shale -Niobrara Shale - Permian Basin - Piceance Basin - Smackover Brown Dense Formation - Spraberry Field - Tuscaloosa Marine Shale -Utica Shale - Wolfberry Trend - Wolfcamp Shale - Woodford Shale -Oil Sands - China Shale - Mineral Rights - Index of Shale

Monday, June 20, 2011

Oil States International Drilling Past Competitors

Drilling is heating up and so are the companies that service the industry. Oil States International, Inc. (OIS – Snapshot Report) is expected to grow earnings in the double digits over the next 2 years. This Zacks #1 Rank (strong buy) has a forward P/E of just 13.8x despite shares trading near 3-year highs.
Drill, Drill, Drill
Oil States has two major divisions: Offshore Products and Well Site Services. Offshore Products manufactures deepwater capital equipment which is used on floating production platforms, subsea pipelines and floating drilling rigs.
Well Site Services provides land drilling with its fit-for-purpose drilling rigs in West Texas and the Rocky Mountain region.
The company rents tools to producers to be used in completion and production of a well. Oil States’ rental tool division is focused on the Rockies, Barnett Shale, the Mid Continent and in the Fayetteville Shale oil producing regions and is growing in the popular Marcellus, Haynesville and Bakken shale regions.

Source: Forbes
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