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, August 22, 2011

Range, Cabot Said to Be Subpoenaed by N.Y. Over Natural Gas


Range Resources Corp. (RRC), Cabot Oil & Gas Corp. (COG) andGoodrich Petroleum Corp. (GDP) were subpoenaed by New York over whether they accurately represented the profitability and life spans of their natural gas wells, according to a person familiar with the matter.
Chesapeake Energy Inc. also is being asked similar questions about its wells, said the person, who declined to be identified because the person isn’t authorized to speak publicly about the matter.
The subpoenas, sent by New York Attorney General Eric Schneiderman Aug. 8, request documents related to the formulas used to determine how long the wells can be expected to produce gas without new “fracking,” or hydraulic fracturing, the person said. The subpoenas also seek information on how the companies report gas reserves to investors following a 2008 U.S. Securities and Exchange Commission rule change.
Goodrich said today in a statement that it received subpoenas from the attorney general and the SEC requesting information related to it Haynesville Shale gas wells and reserves. The company is cooperating, and there has been no allegation of wrongdoing, Goodrich said.
“The company is confident that its disclosures relating to its Haynesville Shale wells and reserves meet all applicable legal requirements,” it said.
Source: Bloomberg
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