My family have 16 wells in the woodford shale only 7 of them are producing at this time Four are being drilled in section 2-3N-11E Coal county. Nabors drilling are drilling these four wells rig 36 we have'nt heard anything on how things are going the Cheaspeake announcement of not wanting to drill because of the decline in natural gas prices has got us worried. The week before there announcement Dawson was going to start 3d sisematic operations on our land now they have held off. Does anyone have a opinion or any facts on the future of woodford shale in these sections or the county itself. Thanks you lets hope for the best.
I can only comment in the general sense about the overview of gas prices. My interests are in Grady County and that is a deeper objective than you have in Coal County. However I am an active professional in the Texas Gulf Coast that generates oil and gas prospects for drilling. I do have a degree in Geology from Oklahoma University. Since the Woodford shale play has reached next door to my interests in Grady I have been on a crash course to get up to speed on what is going on.
There is a huge amount of gas available to market at present. The Marcellus shale in the Northeast, the shales in the Dakotas, the Barnett just across the Red River and the emerging Eagleford shale in South Texas have put a very depressive trend to natural gas prices. If it was not for the oil componet in many of these wells, a lot fewer would be being drilled. It is not surprising that Dawson has hesitated in collecting a new 3D survey. Companies are requiring that many of their professionals seek oil prospects and bypass gas prospects. This is part of an almost traditional "boom/bust" cycle that the industry goes through year in and year out. Having been in the industry since 1953 I have seen a few of each.
On top of too much gas in the pipelines to sell is the mild winter across the U.S. The good news is that the production that your family will gain an interest in will last for a long time. The bad news is that the price is going to be depressed for a while (if there is not a war in Iran) and some planned activity will be put on the shelf.
Sorry I could not be more definite about Coal County, others on this forum will probably have more detailed info about your area.
I don't have any detailed information on a particular area but I do have some hope for the industry in general. There has been a lot of talk about developing an export market for LNG. Cheniere Energy has received approval to convert its Sabine Pass Terminal from an import to an export facility. Other companies have similar plans. There is a huge natural gas market in Europe and Asian that can possibly be developed by U.S. energy companies if the politicians can keep from screwing it up. There continues to be talk of increasing U.S. gas usage for electricity generation and transportation purposes. There is a point at which an increase in usage can drive up prices enough to make gas production profitable while at the same time still economical enough, along the with environmental avantages to make the U.S. more energy independent. Obviously this all remains to be seen.
I am a novice in all of this I am trying to find out as much as possible about woodford shale I appreciate your input this information was very helpful do you know of any sites that I could do research on. Good Luck in Grady County
Don Underwood said:
I can only comment in the general sense about the overview of gas prices. My interests are in Grady County and that is a deeper objective than you have in Coal County. However I am an active professional in the Texas Gulf Coast that generates oil and gas prospects for drilling. I do have a degree in Geology from Oklahoma University. Since the Woodford shale play has reached next door to my interests in Grady I have been on a crash course to get up to speed on what is going on.
There is a huge amount of gas available to market at present. The Marcellus shale in the Northeast, the shales in the Dakotas, the Barnett just across the Red River and the emerging Eagleford shale in South Texas have put a very depressive trend to natural gas prices. If it was not for the oil componet in many of these wells, a lot fewer would be being drilled. It is not surprising that Dawson has hesitated in collecting a new 3D survey. Companies are requiring that many of their professionals seek oil prospects and bypass gas prospects. This is part of an almost traditional "boom/bust" cycle that the industry goes through year in and year out. Having been in the industry since 1953 I have seen a few of each.
On top of too much gas in the pipelines to sell is the mild winter across the U.S. The good news is that the production that your family will gain an interest in will last for a long time. The bad news is that the price is going to be depressed for a while (if there is not a war in Iran) and some planned activity will be put on the shelf.
Sorry I could not be more definite about Coal County, others on this forum will probably have more detailed info about your area.
Thank you for the news about import and export to Europe and Asia we need to do something with our LNG the warm whether does'nt help I feel pretty positive on this we all have too much at stake to let all this LNG sit in reserve. Thanks again I am just getting to find out about Woodford Shale and its future.
Michael Hutchison said:
I don't have any detailed information on a particular area but I do have some hope for the industry in general. There has been a lot of talk about developing an export market for LNG. Cheniere Energy has received approval to convert its Sabine Pass Terminal from an import to an export facility. Other companies have similar plans. There is a huge natural gas market in Europe and Asian that can possibly be developed by U.S. energy companies if the politicians can keep from screwing it up. There continues to be talk of increasing U.S. gas usage for electricity generation and transportation purposes. There is a point at which an increase in usage can drive up prices enough to make gas production profitable while at the same time still economical enough, along the with environmental avantages to make the U.S. more energy independent. Obviously this all remains to be seen.
The website of the Oklahoma Geological Survey has gentral information about the Woodford. There are papers and crossections there that you might find useful. It will take some looking.