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GMX Resources Thrown Out By The Market

Posted by shaleplays on April 5th, 2010

The market has brutally sold off many exploration and production stocks with leverage to natural gas, including ones with exposure to the Haynesville Shale. This is due to the weakness in natural gas prices and the concern with large supply additions over the next year as the rig count ramps up in 2010.

Cabot Oil and Gas (COG) is accelerating its activity in the Marcellus Shale, and plans to drill 83 wells in 2010 on its acreage.

CNX Gas - The Marcellus Shale

Posted by shaleplays on July 2nd, 2009

The Marcellus Shale - CNX Gas

CNX Gas (CXG) has publicly released information on five horizontal wells it has drilled in the Marcellus Shale through 4/23/2009. The name of the well, the date and the peak production rate of the five wells are:

Exco Resources (XCO) just announced a deal with BG Group Plc, an English company, whereby BG Group will pay $1.06 billion for a 50% stake in 120,000 net acres in the Haynesville Shale in East Texas and Northern Louisiana.

Rex Energy’s economics in the Marcellus Shale varies based on the cost of the well, the reserves, the initial production rate, and the price realized.

The Marcellus Shale - CNX Gas

Posted by shaleplays on June 23rd, 2009

CNX Gas (CXG) released information on the productivity of horizontal versus vertical wells in the Marcellus Shale. A typical horizontal well in the Marcellus Shale has an initial production (IP) rate of 3.0 Mmcf per day, an Estimated Ultimate Recovery (EUR) of 3.0 Bcf, and costs $5.0 million.

Newfield Exploration (NFX) is an active player in the Bakken Shale area in both North Dakota and Montana, with 498,000 net acres in the Williston Basin. The company does not say how much of the acreage is prospective for the Bakken Shale, except that it characterizes 190,000 acres as development and exploitation, and 310,000 as exploration.

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