Barnett Shale Mineral Rights are
Barnett Shale Mineral Rights are …
Barnett Shale leases, oil companies are extending the Play into less proven areas. If these companies and investors are heavily leveraged in the Play, they could be facing very difficult times if gas prices remain at current levels, which are double what they were three years ago. Barnett Shale Prospect Partnership is comprised of an expert team of professionals with years of experience in the oil and gas and legal industries. Each member of the Barnett Shale Prospect Partnership team has diverse knowledge that brings a unique and expansive business perspective to our company. Barnett Shale is deeply fractured, with fissures that tended to be sealed by calcium carbonate. The field went undiscovered until Mitchell Energy experimented with employing large gel fracture methods to open the wells to natural gas.
Gas saturation seems constant across the region, so it is tempting to invoke increased natural fracturing in these areas as the explanation. Gas that is liberated from the rock during the drilling process is frequently measured on a mudlog. The low permeability of a gas shale allows little migration of formation fluids into the well bore during drilling.
Horizontal drilling has become the method of choice throughout most of the trend. Chesapeake’s Dallas/Fort Worth Airport lease has helped push the boundaries of exploration to the eastern fringes of the basin, while demonstrating that unexplored acreage still exists. Horizontal wells don?t simply go straight down, but also have one or more horizontal sections. In the Barnett Shale, the wells goes down about a mile and a half, make a turn and go horizontally about a mile, running through the rocks that hold natural gas. Horizontal Drilling is the science of drilling non-vertical wells. Directional drillers are given a well path to follow that is predetermined by engineers and geologists before the drilling starts.
Horizontal drilling has changed the way oil and gas drilling is done by allowing producers to drill horizontally beneath neighborhoods, schools and airports. Since much of the gas in the Barnett Shale is lodged beneath the City of Fort Worth, this new drilling technology has created a boom for the city.
Production has been firmly established with over 4,700 successfully completed wells drilled, the field encompassing over 500,000 acres. It is currently producing in excess of one billion cubic feet per day. Production from the acquired properties is expected to offset production lost through these property sales.
Drilled 3 horizontal gas wells with encouraging results so far. No economics given, just some IP’s in the 3 to 5,000 Mcfepd range. Drilled during 2007, the Trail a-26-G horizontal well tested at 5 million cubic feet per day (MMcfd). Two other recent EOG wells tested at 3.5 and 4.2 MMcfd, each from only partially completed laterals.
Texas, in the 21st century is becoming a different society than most adults recall growing up. In almost every county in Texas, the population is shrinking. Texas produces 25% of all the gas in the United States and is the largest producer. Recent technology in new stimulation techniques has created many millions of barrels of oil in the Barnett Shale of Montague County near St. Texas suffers from extremely contaminated soil, air, and water, which has a harmful effect on all of its residents. So, in order to get the Kiri Tree Revolution started in Texas, Chris Sanders and Brittany Turner have begun planting seeds and clones to see which genetics will be the toughest survivors in the Texas climate.
Devon is flowing about 800 million cubic feet of gas per day out of the Barnett. Devon is one of the area’s largest drillers in the Barnett Shale where it has more than 2,500 wells. Devon has 7,500 risked Barnett shale locations in inventory, which would last 13 years at its current activity level.
Forward-looking statements give our current expectations or forecasts of future events, including expected results from oil and natural gas development drilling, and anticipated acquisition of leasehold. We caution you not to place undue reliance on our forward-looking statements, which speak only as of the date of this press release, and we undertake no obligation to update this information. Forward-looking statements give our current expectations or forecasts of future events. They include estimates of Barnett Shale oil and natural gas reserves and our planned development of these reserves.
Capital City is evolving from being an innovative leader in the design, management and sponsorship of retail and institutional direct participation energy programs to become one of the few vertically integrated independent oil & natural gas companies. Their strategy is to continue to grow a portfolio of core areas which provide growth opportunities through grass-roots drilling, operating, service companies, acquisitions and fund management. Capital expenditures for the two projects will total approximately $260 million with construction expected to begin in June 2008. The two expansion projects are expected to be in service by September 2008.
Oil has also been found in smaller but commercially viable quantities. Oil companies are trying to lease as many properties as they can in exploration of oil with huge lease fees. In addition to the leasing bonus, landowners are being given more of the royalty interests.
Oil and Gas Experts have suggested that it may be the largest onshore natural gas field in the US although new estimates from the newly discovered Marcellus Formation in Appalachia may equal the Barnett. The field is proven to have 2.5 trillion cu. Oil and gas investors can realize fast ROI’s. There is currently a huge Hunton Lime re-completion, de-watering play revitalization plan coming right through our back yard and we have at least 6-8 existing “cased Holes” ready for re- completion.
