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Drilling Not Letting up in Haynesville


From The Unconventional Drilling Report with data as of October 21, 2010:

We keep hearing talk of drilling activity slowing in the Haynesville, but the numbers aren’t bearing that out when you factor in East Texas. True, the core Louisiana Haynesville has dropped about a dozen units since its summer peak. But the East Texas side of the play has rebounded almost to its 3Q peak and is seeing full rig utilization. SM Energy alone added 3 rigs since the prior biweekly period, while EXCO hiked its count by 2. EOG, ExxonMobil, and Devon also added rigs. Some recent farm-in deals, evidently oblivious to slumping gas prices, could be driving some of this revived action.


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