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

Wednesday, July 20, 2011

You Simply Can't Find a Better One-Stop Commodities Shop


The news has clearly perked up from down under: After failing to land several acquisitions, Australia's mining behemoth,BHP Billiton (NYSE: BHP  ) (ASX: BHP), has found an industry where it can get deals done.
BHP has announced that it would part with $12.1 billion in cash to acquire Petrohawk Energy (NYSE: HK  ) , a leader in the active Haynesville shale and the first company to drill a successful well in the now-active Eagle Ford shale. Adding in Petrohawk's debt, BHP's total tab will come to $15.1 billion, based on its $38.75 per-share all-cash offer. That amounts to a whopping 65% premium over the Houston company's Thursday close.
The sizable deal -- topped only by ExxonMobil's (NYSE: XOM  ) year-ago $31 billion purchase of XTO Energy -- follows BHP's acquisition of Chesapeake Energy's (NYSE: CHK  ) assets in Arkansas' Fayetteville shale. In what I then termed "BHP's initial toehold into U.S. shale gas assets," the company agreed in February to shell out $4.75 billion for Chesapeake's nearly 500,000 Fayetteville acres, along with other assets, including 420 miles of pipeline.
Source: Fool
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