Barnett Shale Gas
Gas well setup and initial drilling will produce about the same level of noise you’d hear near a typical construction site. Gas shale well productivity varies widely by basin, due to variations in the natural fracturing, richness of the shale, net thickness, and initial rates. The major change has been in well completion and operating methods, which have led to increase per well reserves. Gas saturation seems constant across the region, so it is tempting to invoke increased natural fracturing in these areas as the explanation.
Forward-looking statements are based on current expectations and projections about future events and are subject to various risks, uncertainties and assumptions about?Capital City Energy Group, its technology, economic and market factors and the industries in which?the Company does business, among other things. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Forward-looking statements in this press release include the Company’s ability to repay the $7.1 million borrowing base deficiency under the Amegy loan agreement, its ability to negotiate successfully with Amegy with respect to ongoing liquidity issues, the ability of the Company to sell assets or obtain financing on acceptable terms, the ability of the Company to finance and execute its business strategy, the ability of the Company to continue as a going concern, the success of the farmout with Forest Oil, the success of the Company’s efforts to seek ratification of its Nicaraguan concessions/contracts and plans to move forward with exploration in Nicaragua.
Oil production in two of the projects has already begun and initial drilling in the others will take place during the next year. Oil and natural gas sales from the Company’s producing properties for 2007, were up 52.1% to $175.2 million compared to $115.2 million for the prior year, an increase of $60.0 million.
Chesapeake is negotiating with two homeowners for land along South Hills Avenue, a company spokesman said. Chesapeake Energy announces Haynesville shale discovery and seven other new unconventional discoveries and projects Co announces new natural gas discovery in the Haynesville Shale in Louisiana. In addition, the co announced two other new unconventional natural gas discoveries and five new unconventional oil projects. Chesapeake, which currently has 115 employees on two floors in the D.R. Horton building downtown, intends to move 300 to 400 workers into the top seven floors of the 20-story tower, said spokeswoman Julie Wilson.
Chesapeake would pay CISD another bonus at the end of the three-year term for all acreage not yet involved in gas production. In addition, the district would still receive ongoing royalties on any acreage yielding gas.
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