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, August 15, 2011

Oil-and-Gas Company Matador Resources Plans $150M IPO


Oil-and-natural-gas company Matador Resources Co. said it planned to sell up to an estimated $150 million of common stock in an initial public offering to pay down debt.
The exploration and development company focuses on oil and gas in shale and other unconventional resources. Its current operations are centered on the Eagle Ford shale in southern Texas and the Haynesville shale in northwest Louisiana and east Texas, though it is exploring areas in New Mexico, west Texas, southwest Wyoming and adjacent areas in Utah and Idaho.
With proceeds from its IPO, the company plans to dedicate about $35 million to repaying a term loan and paying down debt under its revolving credit facility. The rest would go to capital expenditure budgets. In 2011, Matador expects to spend $148.9 million and $230.8 million next year.
It swung to a modest profit last year, though 2009's $14.4 million loss was a wide swing from the $103.9 million profit for 2008 because of gains from selling properties then.
In the first quarter, Matador's revenue fell 11% largely because of unrealized derivative losses, though oil and gas revenue rose 49%. It swung into the red because of a surge in full-cost ceiling impairment.
It plans to apply for a New York Stock Exchange listing under the symbol MTDR.
The filing comes at the end of a trying week for the IPO market. Of the at least 10 companies that entered this week aiming to launch, all but one--Carbonite Inc. (CARB)--postponed their debuts because of wide swings in the market. A royalty trust for SandRidge Energy Inc. (SD) also priced an initial offering of units, though it reined in both the size and price from its previous estimates.
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