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PROSPECTS & PROPERTIES

march 30, 2009 • Volume 20 • no. 3
a current compilation of prospects, properties, overrides for sale and promotional insight.
ProsPects for sale
DV
Photo courtesy of Larry Lee Photography – www.larrylee.com
anadarko sets $4.5 billion capex
Targets 60,000 BoEd from “mega Projects”
Integrated oil major Anadarko Petroleum has set a capital budget
between $4.0 and $4.5 billion in 2009, about half what it spent last year;
but it still plans to grow sales volumes to ~210 MMBOE (575,300
BOED), up from 206 MMBOE
(564,400 BOED) in 2008.
The capital program allocates 20%
for exploration and appraisal activities and 20% for “mega-projects,”
including developments at the Jubilee field offshore Ghana, the
Caesar/Tonga complex in the deepwater Gulf of Mexico and the El
Merk project in Algeria.
Anadarko will allot 45%
of its capex to U.S. onshore
activity and 20% to the
deepwater GOM, where it hopes to drill between four and six high-
impact exploration/appraisal wells. Another 20 high-potential gross
wells will be drilled internationally, more than a dozen of which have
resource targets of more than 100 MMBOE per prospect.
In the near term, the Gulf of Mexico will be Anadarko’s primary pro-
duction driver. The company has three such projects that all have over
100 MMBOE of gross potential, including Firestar, which would tie
back to the Independence Hub; Turtle, a lower tertiary prospect near the
Shenandoah discovery; and Vito, a lower Miocene prospect.
Anadarko will also work to keep the Independence Hub facility at
full capacity of 900 MMCFD through infill drilling. These and other
“mega projects” in the Gulf and offshore Africa should add as much
as 60,000 BOED over the next three years. One of these mega proj-
ects is the Caesar/Tonga play in the GOM, which should ramp up to
15,000 BOPD by 2011.
At its annual investor conference in March, Anadarko announced
a successful delineation well at the K2 complex in the Green
Canyon area of the deepwater Gulf of Mexico. The GC 606 #1 well
sits in 4,150 feet of water and hit 110 feet of net pay in three
Middle- and Lower-Miocene sands. Both the GC 606 #1 and the GC
562 #4 wells are expected to be completed and on production by the
end of this year.
Pls, inc., P.o. Box 4987
houston, TX 77210
anadaRko continues on page 19
CENTRAL OKLAHOMA DEVELOPMENT
Several MultiLateral Locations.
Skinner Sand & Hunton Lime Formations.
Depths Range: 6,400 - 7,000 Ft.
SEEKING WI PARTNERS TO DRILL
Seller Will Deliver 79.25% NRI.
Superb Economics, Safe Environment.
1st Location Rsrvs : 496 MBO & 3.2 BCF
Confidentiality Agreement Required.
CALL GENERATOR FOR DETAILS
DV 5911HZ
EAST TEXAS LEASEHOLD
2-Counties. 1,425-Net Leasehold Acres.
HAYNESVILLE SHALE POSITION
100% OPERATED WI; 75% NRI
Surrounded By Large Independents.
CALL PLS FOR DATA PACKAGE
DV 5753L
FORT BEND CO., TX PROSPECT
2-Possible Wells. 121-Acres.
ROSENBURG (10 PAYS)
Obj 1a: Frio Sands. 4,620-5,600 Ft.
Obj 1b: Vicksburg. 6,270 Ft.
Obj 2: Frio Sands. 5,020-5,340 Ft.
Defined By SubSurface Geology.
Some Offset Or Area 2-D Seismic.
100% OPERATED WI; 75% NRI
Wells FARO 322-2,036 MCFD
Initial Flow Rate of 750 MCFD
Est Well Reserves: 1.5+ BCF
Est Proj Reserves: ~10.6 MBC & 6.5 BCF
9-Individual Frio Sands Plus Vicksburg
Drill & Complete: $1,124,000
READY TO DRILL - CALL PLS FOR INFO
DV 5208
royalties for sale
rr
GALVESTON BAY ORRI SALE PKG
3-PDP, 119-PDNP. 34-PSI. 14-PUD.
TRINITY BAY, N. POINT BOLIVAR,
FISHERS REEF, RED FISH REEF FIELDS
Stacked Miocene & Frio Production.
Total Depth: 8,000 - 13,000 ft.
3-D Seismically Defined.
5.00%-8.00% ORRI For Sale.
Gross Proved Rsrvs: 1.8 MMBO & 31.2 BCF
RR 4239
HAYNESVILLE ACREAGE
14,747-Gross, 5,400-Net Mineral Acres.
FANNIN & LAMAR COUNTIES
Lands Contiguous With Good Access
-- to F.M. & County Roads.
MINERALS FOR LEASE OR SALE
Multiple Pipelines Transverse Acreage.
OWNER/SELLER SEEKING OFFERS
RR 3926L
ProPerties for sale
PP
CARTER CO., OK PRODUCTION
4-Wells. 1-SWD.
Morris & Deese Formations
Horizontal Drilling Potential
100% OPERATED WI; 87.5% NRI
Avg Production: 12 BOPD
SWD Well Permitted For Commercial.
All Wells Located Within 10 Sq Mi.
SELLER ENTERTAINS ALL OFFERS
PP 6196DV
SOUTHEAST KANSAS SALE PKG
144-Wells; 80-PDP. 75,000-Gross Acres.
CHEROKEE BASIN
CBM Production. (300 - 1,400 Ft.)
MultiZone Development Upside.
Gathering Facilities In Place.
100% OPERATED WI; ~82% NRI.
Net Production: 10 BOPD & 1,100 MCFD
3rd Party Updating Engineering.
PLS PREPARING DATA ROOM
PP 4248DV
OKLAHOMA SALE PACKAGE
33-PDP, 5-PDNP, 34-PUD
CUSTER, HASKELL, LE FLORE,
& PITTSBURG CO.
WEATHERFORD, STIGLER WEST,
& KINTA FIELDS
Skinner, Atoka, Cherokee, Hunton, Brazil,
Red Oak, Spiro, Wapanucka Production.
3-D Seismic Available.
Small NonOperated WI For Sale.
Est Gross Prod: 129 BOPD & 6,441 MCFD
Est Net Prod: 4.0 BOPD & 255 MCFD
(2)Two New Wells Come On-Line.
Net Proved Rsrvs: 8.2 MBO & 5.9 BCF
Net Proved PV(10): $9,153,571
Engineering Updated March 13, 2009
NEW ENGINEERING REPORT
PP 4231DV
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at an unprecedented pace to more than 500,000 wells over the next several months. LASSO
strengthens your exploration projects with the higher-order capabilities of increased digital well log
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online for immediate downloads.
For more information about LASSO, contact your TGS account representative or call 1 (888) LOG-LINE.
Range ramps up
marcellus volumes
drills best Barnett well yet
Range Resources has scaled back
non-core drilling to focus on the
Barnett Shale, the Nora Field and the
Marcellus Shale this year.
Range’s capex budget will total
$700 million, including $540
million to drill 500 (315 net) wells and
grow volumes 10% in 2009.
In the Marcellus Shale play, where
Range added 400,000 acres last year, the
company’s most recent horizontal well
came online at a 24-hour rate of 10.3
MMCFeD. Of the last 11 Marcellus
wells announced, four had initial rates
of 9.9 MMCFeD or more, with the best
flowing 24.5 MMCFeD.
In addition, two vertical delineation
wells in the northeast part of the play
came online at 6.3 and 2.3 MMCFeD,
the former being the highest reported
24-hour rate from a vertical Marcellus
well to date.
Since last October, Range has con-
nected 13 Marcellus horizontals to its
new gas processing facility. Another 14
wells, including seven horizontals, have
been fraced and are awaiting processing
capacity, which is expected to expand
from 30 to 60 MMCFD in April.
Range still on track to drill 60 Marcellus
wells this year.
“Anadarko keeps finding hundreds
of millions of barrels worldwide.”
Economides calls
for $100 oil
Fireworks at marketmakers
All pessimism aside, our Market -
makers conference was a hit back on
March 5 and ended with fireworks when
Dr. Michael Economides followed the
EIA speaker. Economides
effectively threw cold water
and applicable barbs at the
new administration, all
politicians, California
actresses and the
EIA, noting that $40
flat oil projections for
3 years are “incompetent.”
“Forty-dollar oil is unsustainable,” he
said. “Mark my words – oil is headed
back to $100 in less than 18 months for a
number of reasons, including all the
political risk inherent across the globe.”
Economides also showed a number
of political cartoons from his Energy
Tribune publication to make his points
and add some levity. One of the audi-
ence’s favorite slides was one showing
Putin and Chaves superimposed as 800
lb gorillas “on $100 oil.”
Then he showed another slide of 80
lb chimpanzees hanging upside down
from a tree with a caption that read,
“This is a picture of Putin and Chavez
on $40 oil.” The point was obvious.
Economides said neither Putin nor
Chaves would want to hang upside
down for very long.
PLS presents
2009
Continental Resources plans to par-
ticipate in the drilling of 86 (20.2 net)
wells in North Dakota this year, focusing
on the Bakken and Three Forks/Sanish
formations. Bakken volumes
averaged 10,811 BOEPD in the
last quarter, up 25% from a year
ago and comprising 30% of total com-
pany volumes. Continental raised proved
reserves in the play to 45.7 MMBOE at
year end, up 38% from a year ago.
Continental has dropped the number
of operated Bakken rigs from a peak of
10 last year to four this year, all of
which are in North Dakota. The com-
pany will not drill any wells on its
Montana acreage in 2009. Continental
completed 33 (8.9 net) wells in North
Dakota last quarter, with average
seven-day production of 546 BOEPD
per well.
In the Montana Bakken, Continental
completed two wells last quarter. The
Prevost 3-16H (Richland Co., 83% WI)
initially flowed 507 BOEPD, while the
Rita 3-19H (79% WI) tested at 412
BOEPD.
Continental showing 14,058 BOEPD
out of Red River Units.
southwestern reaches
Fayetteville milestone
will devote 22 rigs to the play
Southwestern Energy has set a $1.9
billion capex for 2009, which includes
$1.6 billion for E&P and $220 million for
midstream and is basically flat
with 2008 spending. South -
western will actually increase
spending to $1.3 billion in the Fayetteville
Shale play, where net production is 750
MMCFD, more than double what it was a
year ago.
Southwestern has spud a total of 1,230
wells on its 860,000-net-acre Fayetteville
play, including 604 last year alone.
Southwestern invested $1.2 billion in the
Fayetteville last year, adding 984 BCF in
new reserves, including upward revisions
of 159 BCF due to improved well per-
formance. Net proved reserves in the
play totaled 1,545 BCF at year end, more
than twice the 716 BCF recorded at the
end of 2007.
Last year, Southwestern drilled its aver-
age Fayetteville horizontal well in 14 days at
a cost of $3.0 million. Average IP rates were
2.78 MMCFD, compared 1.69 MMCFD in
2007. This year, average IP rates have risen
to 2.9 MMCFD. Southwestern has 22
drilling rigs running in the play.
Average IP rates in the Fayetteville
have risen to 2.9 MMCFD.
souThwEsTERn continues on page 15 conTinEnTal continues on page 4
continental retains four
Bakken drilling rigs
Targets 8% volumes growth
RangE continues on page 22 EconomidEs continues on page 15
–e&p
–Listings For Sale
PAGE 2 MARCH, 2009
HOW TO USE
This glossy newspaper includes the latest
e&p news, exploration successes, finds and
budgets while also carrying ~400 latest explo-
ration type listings including prospects, (DV);
lands, (L); and farm outs. The P&P is designed
for landman, geologist and exploration execu-
tives while the A&D Transactions is designed
for engineers, business development and
finance executives.
Besides the Prospects & Properties, PLS
also publishes the A&D Trans actions. A
monthly recap of recent acquisition and
divestitures. In addition to news and press
coverage the report also carries 80-120 list-
ings of properties, (PP); overrides, (RR) and;
midstream (G/F) assets for sale. Each of the
anonymous listings are coded by an alpha-
numerical code.
Members interested in accessing seller or
package information on the listings need only
call (or email) PLS and provide the package
codes at which point PLS will process a mem-
ber’s request. The A&D Transactions does list
some lands (L) and prospects (DV) but the
emphasis is on asset sales
PLS also publishes various Market Alerts
(various themes/analysis) and DealAlerts
(listings only) to supplement the monthly
publications.
Editor
Kyle Francis
(kfrancis@plsx.com)
Layout&dEsign
KathyClark
(kclark@sbcglobal.net)
Listings
tonyMoto
(tony@plsx.com)
rossBenoche
(rbenoche@plsx.com)
AdverTISING
Beau Kelley
(bkelley@plsx.com)
sEniorEditor
Berte Taylor
(btaylor@plsx.com)
CorporatEdEsign
Chinh Nguyen
(chinh@plsx.com)
divestpro
richard Martn
(rmartn@plsx.com)
CEo,pLsinc.
ronyld Wise
(rwise@plsx.com)
houston | calgary
P.o. Box 4987
houston, TX 77210
Phone: (713) 650-1212
Fax: (713) 658-1922
listingmgr@plsx.com
~200 Listings Inside —Call PLS: 713-650-1212
To Learn More About These Deals
PROSPECTS & PROPERTIES
November 1, 2007 • Volume 18, No. 9
A current compilation of news, regional activities and prospects & properties for sale
PROSPECT FOR SALE
PROPERTY FOR SALE
DV
PP
SOUTHEAST TEXAS OPPORTUNITY
4,000 Acres. 4-Distinct Prospect Areas
MULTIPAY OBJECTIVES
Pecan Gap, Austin Chalk MULTIPAY
Woodbine, Buda, Georgetown,
Edwards & Cotton Valley
Seller Can Deliver 76-78% NRI
Some Recompletion Opportunities.
Some Horizontal Drilling Applications
SOLID RESERVE POTENTIAL.
IN AREA OF HIGH CUMMULATIVES
SEEKS OPERATOR and/or PARTNER
HANDLED BY PLS' MARKETING ARM
DV 9922RE
ROYALTY
RR
DE SOTO PARISH ROYALTY SALE
5-Wells. 1-New Well. 485-Acres.
LOGANSPORT FIELD
Hosston Production (10,000 Ft.)
Pettit & Cotton Valley UpHole.
Small Override For Sale.
Gross Prod: 6 BOPD & 3,967 MCFD
Net Production: 66 MCFeD
Net Cash Flow: $14,416/Mn
Buyers Premium Obligation To PLS.
RR 8678
EAST TEXAS SALE PACKAGE
8-Wells; 5-Locations.
FREESTONE & HARRISON
COTTON VALLEY & BOSSIER
Undeveloped Acreage Incl Prospects
40%-90% OPERATED WI For Sale
25%-40% NonOperated WI
Gross Production: 11 BOPD & 2,335 MCFD
Net Production: 1,220 MCFeD
Est Cash Flow: $250,000/Mn
HANDLED BY PLS' MARKETING ARM
PP 8580DV
–e&p
Drilling for oil and gas in the Gulf of Mexico is declining because operators say
that they can get much longer contracts in places where the reserves are larger – often
overseas, according to a report in The Dallas Morning News. Rigs that once had
plenty of business in the Gulf are heading to places such as Africa, Brazil and the
Middle East, pushing the number of rigs
in the Gulf of Mexico down to 72, down
19 from the same time last year. Ten
years ago, that number was closer to 122,
according to Baker Hughes.
Drilling permits are one way to track
“intended” drilling in an area, and for 2007 to-date, the Texas Railroad Commission
has received just 27 applications for permits for shallow-water drilling – a light fig-
ure compared with last year’s 76. Deepwater permits have also pulled back from
2006. Railroad Commissioner Elizabeth Ames Jones told the DMN that there’s still
time for operators to pick up the pace in 2007, however.
“It’s very important to understand that the hydrocarbons don’t growon trees; these
rigs can pick and go where the economic conditions are better for them,” she said.
Several rig owners who work in the shallow Gulf waters are worried that the equip-
ment headed for international waters isn’t on its way back in the near future.
Some equipment companies are able to secure longer-term contracts closer to
seven years overseas, while securing a contract for even five years in the Gulf has
become a challenge. Hefty insurance premiums and stringent government regulation
are additional hurdles for operators trying to make it in the Gulf.
Steve Lawrence, CEO of Clarksons Offshore in Houston, a company that bro-
kers deals between offshore drilling companies, told the paper that the Gulf is
being abandoned because the area is very mature, and the reserves are simply
drying up. While newer wells can often have solid production as soon as they
come online, the decline curve for these wells is steep.
Gulf losing rigs to international reserves
Regional rig count falls by ~20 rigs since 2006
Cabot extends
success in
drilling program
Drilling opportunities on an
additional 44,000 gross acres
Cabot Oil & Gas Corp. is spread-
ing its wings a little wider in East
Texas. The company recently com-
pleted transactions with two
major oil companies in its
east Texas operating area
that will now provide
drilling opportunities on an incremen-
tal 44,000 gross acres.
“High-quality acreage is the lifeblood
of our organic program,” said Dan O.
Dinges, Chairman, President and CEO.
“Because of our successes in the region,
we were able to partner with these two
organizations in an effort to enhance
value to all the domestic programs.”
In the first deal, Cabot added 8,325
gross acres to its position at County Line
with rights down to and including the
James and Pettet formations. This ups
Cabot’s County Line holdings to 26,000
gross acres at an average WI of 92%.
“Initially, we expect about 50-70
horizontal James opportunities on this
additional acreage alone,” stated
Dinges. “Combine this with our exist-
ing acreage, and the James location
inventory is increased to 170-220 loca-
tions. A similar inventory of Pettet
locations has also been identified,
which will be exploited as our infra-
structure expands.”
At County Line, the first two hori-
zontal James wells had a combined
initial production rate in excess of
17 MMCFD. Current field operations
include the completion of the third
James horizontal well with two rigs
drilling James horizontal wells.
Dinges said the “stage is set” for
County Line to be a meaningful area of
operation for Cabot.
Also in East Texas, Cabot secured
drilling rights on 28,000 acres in the
Trawick Field in Nacogdoches Co.
CABOT continues on page 19
“Hydrocarbons don’t grow on
trees; these rigs can pick and go
where the economic conditions are
better for them.”
The 28,000 acres in the Trawick
Field in Nacogdoches Co. was a deal
in the works for two years.
Rockies producers keeping fingers crossed
Production shut-ins to find relief in early 2008
Producers over in the Rockies have been hit hard with low gas pricing during the
past several weeks, but there is still a positive outlook on how the much-anticipated
Rockies Express pipeline (REX) may bring the group some relief. Announcements of
production shut ins have trickled in during the summer months, and completion and
hook-up slowdowns have been reported in the Jonah, Pinedale, Piceance basins.
Some Rockies producers think the building backlog of drilled-but-uncompleted gas
wells will serve to get REX off to a booming start in early 2008.
So REX may start next year with a surge of gas, but in the meantime, cheap
Rockies gas may stay cheap. Analyst Dan Pickering of Houston’s Tudor Pickering
expects that trapped production will
look for a home and will find it by
going into Western gas storage. Once
REX is done, it could relieve falling gas
prices in the area.
Phase I of the project will extend the pipeline to Cheyenne by year end, when
Rockies prices should begin to reap some benefits. Phase II will then extend the
pipeline east to Missouri sometime next year, while Phase III will carry it into
Ohio in 2009.
Bentek CEO Porter Bennet anticipates “the pipeline will export the Rockies over-
supply bottleneck east and create incremental demand for Rockies gas.” However, the
REX may also cause Rockies prices to rise at the expense of other gas producing
regions, specifically the Permian Basin, the Mid-continent and the Gulf Coast.
REX’s low costs will give it a competitive transportation advantage of $0.25
per MCF over gas from the Permian Basin and $0.15 per MCF over the
Anadarko Basin, while REX Phase III will transport gas $0.20 to $0.50 cheaper
than will Gulf Coast pipelines.
In 2008, REX could displace 1.25 BCFD fromthe Anadarko and Permian basins
and, by 2009, 1.3 to 1.5 BCFD from the Gulf Coast, which may in turn allow the
former basins to recover slightly. ROCKIES continues on page 5
REX may start next year with a
surge of gas, but in the meantime,
cheap Rockies gas may stay cheap.
Central GOM Lease sale second largest
Brings 2.9 billion in high bids, with deepwater leading the way
While the country’s gas exploration
may be slowing down, its thirst for new
oil discoveries – as evidenced by the lat-
est MMS lease sale – is definitely ramp-
ing up. In addition to being the second
largest lease sale ever in the GOM, this
year’s auction was also the largest since
1983. Most of the focus was on deepwa-
ter plays, which received ~90% of all
high bids, signaling that E&Pcompanies
are both flush with cash and confident
that today’s high price of oil won’t start
to sink anytime soon.
The sale brought in $2.9 billion
($5.2 billion exposed) overall, which
compares well to the last ten years’
average of $460 million. Eighty-two
companies made 1,428 bids on 723
tracts of land, with Shell in particular
flexing its financial muscles during the
sale. In addition to placing the highest
single high bid – $90.5 million for
Walker Ridge 7 in 1,600-2,000 feet of
water – the company also led the way
overall, forking out a whopping ~$555
million. Coming in at a distant second in
high bids offered (and won) was
Chevron ($283 million), followed by
Marathon ($222 million), Cobalt ($211
million) and Murphy ($161 million).
The deepwater (greater than 800
feet) was the toast of the party, with
bids averaging $992 per acre for
blocks in water depths of 800 to 1,600
feet, and bids averaging $940 per acre
– up a staggering 273%from $252 per
acre at last year’s Central Gulf Sale –
in water depths exceeding 1,600 feet.
BP followed its record performance
in September’s Western Gulf Sale by
again posting the highest number of
bids at 83, shelling out $107 million in
the process. Meanwhile, Cobalt – the
sale’s third highest spender – emerged
on the scene as the highest spending
GOMLEASE continues on page 3
The sale brought in $2.9 billion
($5.2 billion exposed) overall, which
compares well to the last ten years’
average of $460 million.
Chesapeake cuts gas production
Connecticut governor calls the move “market manipulation”
In response to currently low gas prices, Chesapeake has elected to temporarily
reduce gas production by ~200 MMCF, amounting to ~125 MMCFD net to
Chesapeake or ~6% of current production, in the Fort Worth Barnett Shale, South
Texas, Deep Haley and the Anadarko Basin areas.
Chesapeake will also reduce its operated drilling rig
count from current levels of 155-160 rigs to 140-145 rigs
by the end of 2007. This reduction in drilling activity will
lower the company’s previously budgeted capex by ~10%
($1 billion) in each of 2008 and 2009.
Because Chesapeake’s production growth during 2007 has exceeded projec-
tions, however, the company expects to meet its production guidance increase of
18-22% for 2007 and 14-18% for 2008. The move prompted Connecticut
Governor M. Jodi Rell to accuse Chesapeake of gas price manipulation and to
request the chairmen and ranking
members of the U.S. Senate and House
committees that oversee the energy
industry to launch an investigation of
the company.
“This practice [of cutting production]
is an unconscionable fleecing of U.S.
citizens by natural gas suppliers who ‘elect’ to reduce production in order to drive
up prices paid by their captive customers,” Governor Rell said, adding that if
OPEC can increase oil production to alleviate the global economic slowdown,
“our own country’s natural gas producers” should at the very least follow suit.
Rell’s disgruntled plea prompted an equally-disgruntled reply from Chesapeake
CEO Aubrey McClendon, who accused Rell of making “incorrect and reckless
statements that demonstrate a lack of understanding of the gas market and
Chesapeake’s role in that market.”
Governor Rell: “…Cutting production
is an unconscionable fleecing of U.S.
citizens by gas suppliers who ‘elect’ to
reduce production in order to drive up
prices paid by their captive customers.”
Stone gets back on track after a bumpy ride
Plans buybacks, ‘exploitation-minded’ approach
Stone Energy may be headed for
calmer waters after a rough two years
in the public eye.
In 2007 it plans to allocate capital to
lower-risk projects; drill high-probabil-
ity wells; maintain production; divest
selected properties;
reduce debt; and, gen-
erate returns. At the
OGIS conference in San Francisco
recently, management outlined how the
company has strengthened its position
in the pubic markets and regained
investors’ faith.
“We’re coming off of a fairly turbu-
lent couple of years between hurricanes
and interesting merger activity,” Ken
Beer, SVP and CFO, told attendees. “We
wanted to wipe the slate clean.”
Its equity market value has climbed
to $950 million, long-term debt has
dropped from $797 million at year-end
2006 to $400 million, and proved
reserves are 408 Bcfe (18% PUD, 27%
PDP, 55% PDNP). 2007 capex is close
to $290 million and projected production
is 210-230 MMCFeD (53% gas, 47%
oil). Since February, actual production
has met or exceeded original forecasts.
Stone is now positioned to consider
acquisitions. “We’re sitting on $300 mil-
lion-plus in cash and there are compa-
nies facing a credit crunch that need
cash. One of the dirty secrets out there
is that a lot of these resource plays are
heavily cash negative to start. Some of
them require up to six years of a nega-
tive cash flow in the beginning. So, we
may buy some companies, properties,
or do some drill-to-earn deals.”
Stone slated ~47% of its 2007 capex
for GOMexploitation; 11%on operated
GOM facilities and P&A projects; and
~27% in the Rockies and Williston
Basin. The remaining 15%is for explo-
ration in Bohai Bay and buying deep-
water seismic.
On the divestiture front, Newfield
bought Stone’s Rockies assets for $578
million in May. Stone is also selling
some of its noncore GOM assets. As
for acquisitions, at the latest GOM
OCS Sale 205 Stone submitted the
apparent high bid on 16 offshore
blocks. The acquisitions add ~85,239
gross acres and 63,728 net acres to
Stone's inventory.
“We’re coming off of a fairly turbulent
couple of years between hurricanes and
interesting merger activity. We wanted to
wipe the slate clean.”
GULF OF MEXICO continues on page 15
CHESAPEAKE continues on page 18
STONE continues on page 17
Photo courtesy of Larry Lee Photography – www.larrylee.com
PROSPECTCENTRE
Serving the Property & Prospect Marketplace with Opportunities, News & Insight
Exxon ma|nta|ns spend|ng p|ans desp|te weak env|ronment
Rapid expansion in Piceance targets 1.0 BCFD
Unlike most of its peers, ExxonMobil is maintaining its plans to spend
between $25 billion and $30 billion per year for the next five years, the company
confirmed at its annual analyst meeting. Although CEO
Rex Tillerson admitted that prices could be soft for years
to come or at least until demand recovers – the major said it would conduct
“business as usual” and continue its long-term focus.
Last year, Exxon’s total capital expenditures totaled $26 billion ($19.7 billion
upstream), while net income reached
a record $45.2 billion and cash flow
topped $60 billion. Exxon expects to
grow production 2-3% this year to
about 4.0 MMBOEPD, compared to
3.9 MMBOEPD in 2008. Longer term,
the company hopes to add another
1.5 MMBOEPD by 2015, although this
goal is contingent upon other compa-
nies’ spending plans, said Mark Albers,
head of Exxon’s upstream business.
Production started at eight major
projects in 2008, which at their peak
are expected to add net volumes of
260,000 BOEPD. Start ups included
the deepwater Thunder Horse platform in the Gulf of Mexico and other offshore
projects such as Qatar II Train 4, Mondo, East Area NGL II, Saxi/Batuque,
Jerneh, Volve and ACG Phase II. A further nine major projects are expected to com-
mence production in 2009, adding another 485,000 BOEPD. One of those projects
is in the U.S. Rockies – Piceance Phase I in Colorado, which should produce 200
MMCFeD, according to consultants Bentek Energy.
Wednesday, March 11, 2009 | Volume 20, No. 8
E&P
CONTINUES on page 3
1. For Exxon |ts bus|ness as usua|I
Br|ng|ng on 9 projects
2. We|| pos|t|oned w/strong cash
& |ow debt
3. 12%budget |ncrease desp|te
market cond|t|ons
4. P|ans $25-$30 b||||on capex per
year over next f|ve years
5. Targets 3.0%vo|ume growth
6. P|ceance Phase I shou|d ramp
up to 200 MMCFD
7. Target|ng 1.0 BCFeD |n the
P|ceance
8. Exxon's cash f|ow topped
$60 b||||on
9. Net |ncome h|t record $45.2
b||||on |n 2008
10. Proved reserves top 22.8 BBOE
QuickLook
Business as usual, says the major.
Like every politically-correct super
conglomerate – Exxon's first two
power point slides were on safety
and the environment.
Its record earnings came third.
SOUTH TEXAS - RRC 1, 2 & 4
ARAN8A8 60., TX PR08PE6T
1-P(oposed we||s. 9ê0-Ac(es.
C0PAN0 8AY
0oj 1: F(|o 3ards. 9.000 Fl. TX/0V/30
0oj 2: Arora||ra. 13.000 Fl.
A(ea las P(o||l|c 0eep P(oducl|or.
30-50 3ra||oW 3ards P(ospecl|ve.
3-0 3e|sr|c & A\0 Corl|(ral|or.
50º 0PERATE0 wl: Z3º-Z5º NRl
Esl Rese(ves/we||: 25 - 50 8CF
Esl Rese(ves/P(ojecl: 100 - 200 8CF
CALL EN0lNEER F0R V0RE lNF0
0V 5928
SOUTHEAST TEXAS - RRC 3
HATAC0R0A 60., TX PR08PE6T
3.ê15-0(oss Ac(es.
3AR0ENT 30uTl FlEL0
0eeper|rd 0l 1ê.000 Fl. Cased lo|e ÷
÷ 0u|l No. 1 lar||| & lar|||.
l|dr 0ua||lv 2-0 3e|sr|c 0ala. SE TEXAS
Z5º wo(||rd lrle(esl Ava||ao|e.
Esl Rese(ves ©50 Fl: 18Z.5 8CF
Esl Rese(ves ©100 Fl: 3Z5 8CF
C0NTACT PR03PECT 0ENERAT0R
0V 5893
Anadarko announces
Tweneboa d|scovery
Integrated oil major Anadarko
Petroleum announced its Tweneboa-1
discovery well offshore Ghana encoun-
tered 70 feet
of net pay.
The well discovered a light hydrocarbon
accumulation in similar-age sands as
the nearby, but separate, Jubilee field.
“Anadarko keeps finding hundreds
of millions of barrels worldwide,” wrote
analysts at Tudor Pickering & Holt. “The
street is thinking 500 MMBOE predrill,
but more work is needed to understand
the field size,” the analysts added.
Appraisal is planned in the second half
of the year.
The Tweneboa-1 well, on the deep-
water Tano License, was drilled, logged
and cased to a depth of 11,790 ft., and
is being deepened to further assess
additional pay zones. CONTINUES on page 2
"Anadarko keeps f/nd/ng hµndreds
of m////ons of barre/s wor/dw/de."
$K
15
12
9
6
3
0
Value of
$1,000 invested
20 Years 10 Years 5 Years
ExxonMobil
Competitor Average*
S&P 500
Exxon continues to outperform the market and its peers
Shareholder returns
*RDS, CVX and BP
*RDS, CVX and BP www.plsx.com
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Pls expands web offerings, news publications
PLS will be printing our traditional April issue of Prospects & Properties in
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Evolution drills two
giddings field wells
Evolution Petroleum completed
the Hilton-Yegua #1RE (100% WI) as
a re-entry into an existing well in
Burleson Co., Texas, in the Giddings
Field. The well flowed 4.0 MMCFD
and 237 BOPD on its first day of pro-
duction and averaged 3.0 MMCFD
and 146 BOPD over the first eight
days. The re-entry included drilling a
new vertical section from 3,000 ft.
depth to 10,500 ft. TVD, and then
drilling a 3,000-ft. lateral in the Austin
Chalk Formation.
In late January, Evolution com-
pleted the Pearson #1RE (100% WI)
as a re-entry in the same field. The
well has averaged 1.25 MMCFD and
48 BOPD over its first eight days. The
re-entry included drilling a 3,500-ft.
lateral in the Georgetown Formation at
10,500 ft. TVD.
The average initial gross rate of
almost 580 BOEPD for these two re-
entries is more than double the initial
rate Evolution averaged on the first
seven wells it placed on production in
the Giddings Field last year.
abraxas delays two
completions
Abraxas Petroleum brought the
Nordheim #2H (75% WI) horizontal
Edwards well online at 6.0 MMCFeD
in Dewitt Co., Texas. The well flowed
from the
first sec-
tion of the
lateral, but was choked back to 3.0
MMCFD due to low commodity
prices. Six sections of lateral remain
behind pipe.
In West Texas (Coke Co.), Abraxas
drilled the Millican Reef #2A well (92%
WI) to 6,700 ft. TD and completed it in
the Strawn formation. Abraxas will
stimulate the well when gas prices
increase or service costs come down.
Meanwhile, in Brooks Draw Wyom -
ing, Abraxas drilled the Lakesside #1H
(100% WI) to 12,500 ft. TD, including
a 3,800-ft. lateral in the Turner sand-
stone, and completed it with a seven-
stage frac. The well should begin
producing in March. Drilling and re-
completions also continue on a number
of non-operated wells in the Rockies
and Midcontinent.
Abraxas drilled or participated in 50
new wells in 2008, for a 100% success
rate and volumes of 649 BOEPD.
PAGE 3 PROSPECTS & PROPERTIES
–Listings For Sale
ARANSAS CO., TX PROSPECT
4-Proposed Wells. 960-Acres.
COPANO BAY
Obj 1: Frio Sands. 9,000 Ft. TX/DV/3D
Obj 2: Anomalina. 13,000 Ft.
Area Has Prolific Deep Production.
30-50 Shallow Sands Prospective.
3-D Seismic & AVO Confirmation.
50% OPERATED WI; 73%-75% NRI
Est Reserves/Well: 25 - 50 BCF
Est Reserves/Project: 100 - 200 BCF
DHC: $2.0MM To $3.0MM; Compl: $1.0MM
CALL ENGINEER FOR MORE INFO
DV 5928
ARANSAS/REFUGIO CO., TX SALE
5-Proposed Wells.
COPANO BAY 28 BCFE
Targeting Shallow Frio Sandstones.
Marginulina & Upper Frio Potential.
Significant Development Upside.
3-D Seismic Data Available.
Target Has Cumm’d 5.0 MMBC & 100 BCF.
Est Reserves: ~1,080 MBC & 21.6 BCF
ENGINEER HAS MORE INFO
DV 5862
BEE CO., TX OFFERING
636-Acres.
NORMANNA FIELD
Middle & Lower Wilcox Targets.
Proposed Depth: 16,800 Ft.
4-Way Structural Closure. ~50 BCF
Seller Will Deliver 75% NRI.
Est Reserves: 50 BCF
SELLER HAS DATA TO REVIEW
DV 5065
BEE CO., TX PROSPECT
3 To 4-Wells. 693-Mineral Acres.
WEST ORANGEDALE FIELD TX/DV/3D
Obj 1: Wilcox Slick Top. 9,600 Ft.
Obj 2: Wilcox Luling A. 10,020 Ft.
3-D Seismic & SubSurface Geology.
50% Working Interest; 77% NRI (Lease)
Operations Are Negotiable.
Est Well Reserves: ~5.0 BCF
Est Project Reserves: ~14.8 BCF
Non-Protection Pipe. Market Rate.
CALL EXPLORATIONIST FOR INFO
DV 4206M
CALHOUN CO., TX PROJECT
2-Well Project. 6,900-Gross & Net Acres
FRIO TREND
4-Well Potential. 12 BCFE
Obj 1: Upper/Middle Frio. 9,600 Ft.
3-D Seismic Defined.
50% WI Available; 75% NRI (Lease)
Est Well Reserves: 6 BCFE
Est Proj Reserves: 12 BCFE
SELLER PREFERS TO OPERATE
DV 5668
DIMMIT CO., TX PROSPECT
20 To 25-Potential Wells. 2,340-Acres.
Obj 1: Eagleford Shale. 7,500 Ft.
Obj 2: Pearsall. 11,500 Ft. EAGLEFORD
On Trend With Recent Discoveries.
100% OPERATED WI; 75% NRI
Est Reserves/Well: 3.0-4.0 BCFE
Est Reserves/Project: 60-80 BCFE
PROSPECT GENERATOR HAS INFO
DV 5244
DIMMIT CO., TX SALE PACKAGE
2-Wells.
GULF COAST BASIN - LOUIE HERRING FIELD
Olmos Sand Production. ~2,850 Ft.
100% OPERATED WI; 75% NRI
Gross Production: 68 MCFD 51 MCFD
Net Production: 51 MCFD
Avg Net Cash Flow: $7,948/Mn
AUCTION ENDS MARCH 25, 2009
PP 4005AU
Producer
Services Team
is ready to help you!
CORE
REGION
DTE Energy Trading, Inc.
2000 West Sam Houston Pkwy S.
Suite 1425
Houston, Texas 77042
713.874.8400
Jill Zivley / Regional Director
zivleyj@dteenergy.com
ENERGY TRADING/
PRODUCER SERVICES
• Investment-Grade Company Backed
• 65+ Years of aggregated experience
• Gulf Coast Core Region - Barnett Shale
Area Strength
• Natural gas, electricity, crude oil & heating oil
• Optimizing asset positions – gas transportation/
storage, electric generation/transmission
• Risk management services to utilities,
generators, aggregators
DTE ENERGY
• $ 9 Billion Fortune 500 Company
• Serving 2.2. million electric customers – Detroit Edison
• Serving 1.3 million natural gas customers - MichCon
MARKETING, VOLUME MANAGEMENT, TRANSPORTATION ACQUISITION, OPTIMIZATION, AND INFRASTRUCTURE SOLUTIONS.
DTE ENERGY TRADING
Photo courtesy of Larry Lee Photography – www.larrylee.com
XTo switches to development mode
After making around $10 billion in acquisitions last year, XTO Energy was
able to report record proved reserves of 13.86 TCFe (64% proved developed) at
year-end 2008, up 23% from a year ago.
Now the Houston-based company needs to capitalize on its new
asset base, and has duly dedicated $2.75 billion of its $3.2 billion
budget to E&D this year. XTO is targeting 14% production growth
for a yearly average of 2.67 BCFeD.
In the Freestone Trend (East Texas), XTO recently completed two horizontal
Cotton Valley Lime wells (Gail King 28H and 37H) at 13 MMCFD and 12
MMCFD, respectively. Freestone Trend gross production grew to 756 MMCFD last
quarter. XTO has also begun Haynesville drilling in Panola Co., where its New
Horizons 1 well has stabilized at over 8.0 MMCFD.
Other highlights include a 14% annual increase in Barnett Shale volumes to
average 554 MMCFeD in last year’s fourth quarter, while net production from
the Woodford and Fayetteville plays is over 90 MMCFeD. At the Bakken Shale
play in North Dakota, XTO’s latest Three Forks/Sanish well was completed at an
initial rate of 1,300 BOEPD.
Forest’s haynesville flows 14 mmcFed
Forest Oil completed its first horizontal Haynesville shale well, the Moseley
14-1H (100% WI), in Red River Parish at a rate of 14 MMCFeD. Forest holds
140,000 (127,000 net) acres in the Haynesville play and will operate a two rig
program to drill 10-12 horizontal shale wells and participate in 2-3
non-operated wells during 2009. Two horizontal Haynesville wells are
currently being completing and two drilling.
Last year, Forest drilled 14 vertical Haynesville wells. Forest also drilled five
Cotton Valley horizontal wells last quarter, with one initially producing 6.0
MMCFeD. Since it began horizontal CV drilling in 2007, Forest has drilled 15
such wells with IP rates averaging 5.0 MMCFeD.
In the Arkoma Basin, Forest drilled nine horizontal wells in Q4, with one ini-
tially producing 10 MMCFeD. Forest has now drilled 23 horizontal Arkoma
wells with average IPRs of 3.1 MMCFeD.
Total company volumes averaged 569 MMCFeD in Q4, up 15% from the cor-
responding 2007 period. Full year volumes rose 22% annually to 518 MMCFeD
on capital spending of $1.4 billion.
Capital spending will fall 60% in 2009 to about $550 million with the goal
of drilling 180 gross wells to keep production flat. By comparison, Forest
drilled 714 gross wells last year. At peak drilling activity, Forest operated 35
rigs in core areas, but the rig count has since fallen to 20. Forest reported a net
loss of $1.0 billion for 2008 on a $2.4-billion, non-cash property impairment.
Berry plans first haynesville horizontal
Berry Petroleum paid $660 million to acquire East Texas acreage producing
5,000 BOEPD last year. Berry has identified over 100 drilling locations and 75
potential recompletions on the land. Berry also picked up a gathering system to
handle all future production from the acquired properties. Berry is cur-
rently drilling with one rig and plans to begin drilling horizontal wells
in the Haynesville Shale in Harrison County in the third quarter.
To get cash, Berry is now
selling non-core assets in the D-J Basin
in Colorado. The company estimates a
sales price of $154 million. Production
is 18 MMCFeD, and the property repre-
sented 8.5% (21 MMBOE) of Berry’s total year-end 2008 proved reserves of 246
MMBOE and 5.1% of proved and probable reserves (see A&D Transactions for
more information).
Last year, total volumes averaged 31,970 BOEPD, up 19% from 2007 on
improved activity at Berry’s Diatomite (up 86%) and Poso Creek (up 57%) oil
assets in California, as well as its Piceance play (up 103%). In 2008, California
accounted for 52% of production, the Rockies 41% and East Texas 7%.
Berry spent $398 million on E&D last year to drill 452 (381 net) wells. Proved
reserves rose 45% from y/e 2007 to 246 MMBOE. This year, Berry will keep vol-
umes flat despite lower capital spending of $100 million. The budget allots $51 mil-
lion to California, $35 million to East Texas and $14 million to the Rockies.
Despite spending $300 million less
than last year Berry will keep volumes
flat at 32,000 BOEPD.
EXco plans 34
horizontal shale wells
EXCO Resources is now producing
26 MMCFD net from its Haynesville
Shale play. The company completed its
first Haynesville horizon-
tal well last December in
DeSoto Parish. The Oden
30 H #6 (100% WI) came
online at 22.9 MMCFD and produced
1.0 BCF in the first 64 days of produc-
tion. It is still flowing in excess of 12
MMCFD. EXCOs next two operated
horizontal shale wells posted initial
rates of 24.2 and 21 MMCFD.
EXCO will operate a peak of six
rigs in the play this year to drill 34
horizontal wells. EXCO estimates its
Haynesville acreage contains reserves
of 4.5 TCF. EXCO currently has 11
drilling rigs operating across its
acreage, down from 32 late last year.
The company will also drill three
operated Cotton Valley wells in the
Vernon field this year plus nine oper-
ated wells at Holly/Caspiana and two
at Danville. EXCO has two vertical
rigs drilling at Vernon and two at
Holly/Caspiana, but these rigs will be
released when their terms expire.
EXCO has set a $582 million
capex budget this year (down from
$1.0 billion last year), with $284 mil-
lion for Ark-La-Tex drilling and $65
million for Appalachia, where 58
wells are planned. EXCO has two
active drilling rigs in Appalachia, one
of which is drilling Marcellus Shale
wells. EXCO has over one million net
acres in Appalachia.
EXCO completed two horizontal
Marcellus wells last year in central
Pennsylvania with IP rates of 1.0
MMCFD and 3.4 MMCFD following
one-stage and four-stage fracs, respec-
tively. EXCO estimates its Marcellus
and Huron shale fairways contain ~10
TCF of potential reserves.
In total, EXCO produced 145 BCFe
in 2008, up 19% from 2007, with aver-
age fourth-quarter production of 403
MMCFeD, up 7% from a year ago.
The company is targeting volumes of
~408 MMCFeD this year.
The first three Haynesville
horizontals averaged IP rates of
~22 MMCFeD.
SOUTH TEXAS LISTINGS
Is our w|nter of ||||qu|d|ty beg|nn|ng to thaw?
Petrohawk, Chesapeake issue $1.6 billion in bonds: EPL’s cold shoulder
The public capital markets for energy companies, particularly the debt mar-
kets, are beginning to show some much-welcomed signs of life. It’s a stark con-
trast to those dark days of Fall when it seemed like the entire S&P 500 was rid-
ing into the valley of death.
A d it seems to have gotten warmer on January 23 when
c










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A












Tuesday, February 10, 2009 | Volume 2, No. 3u





Both Petrohawk
& Chesapeake doub|ed budgets
f







SOUTH TEXAS - RRC 1, 2 & 4
VAL VER0E 60., TX PR0PERTY
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Z1º wl Ava||ao|e: ê1º NRl 3,916 MCF0
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MARKET
ALERT
CAPITALMARKETS
Serving the Property & Prospect Marketplace with Capital Insight, & Market Opportunities.

Read the latest
capital news & insight at
www.plsx.com www.chkenergy.com www.oxy.com landrigclearinghouse.com www.lasserdata.com www.phdwin.com
DUVAL CO., TX PROPERTY SALE
2-Active. 5-Shut-In. 1-SWD. 384-Acres
MARTIN RANCH & ASOG FIELDS
Frio, Jackson, Hockley,Pettus, and Yegua.
Significant Workover Potential.
2D Seismic Data Available.
100% OPERATED WI; 75% NRI. 16 MCFED
Gross Production: 21 MCFD
Net Production: 16 MCFED
Est Net Cash Flow: $3,000 - $4,000/Mn
Wells Have Cum’d 1.5 BCFe To Date.
3.5-mi (2) Pipeline w/ Compression.
SELLER UPDATING PACKAGE
PP 4172
DUVAL CO., TX OFFERING
210-Gross/Net Leased Acres.
WILCOX TREND 12 BCF/3D
Z-Sand Target. 16,400 Ft. (17,000 PTD)
Area Is Best Wilcox Production In Texas.
3-D Seismic & SubSurface Geology.
Tested Amplitudes Have Proven Productive.
100% OPERATED WI; ~78% NRI
Z-Sand Is Friable In Nearby Wells.
Came In 20 MMCFD: Produced ~16 BCF
(And Is Still Going)
Est Recoverable Reserves: 12 BCF
60 Ft of Z-Sand Expected From Amplitude
— Strength Calibration.
Part of A Larger Package-See DV 3980
CONTACT PLS PROSPECT CENTRE
DV 3981L
DUVAL CO., TX PROJECT
~527-Acres.
Targeting Upper Wilcox Formation.
Proposed Depth: 12,500 Ft.
4-Way Faulted Closure. DV/3D
Defined By 3-D Seismic Data.
50% Working Interest; 75% NRI
Est Spud Date: Q1 2009
DV 5044
DUVAL CO., TX PROSPECT
975-Gross/Net Leased Acres.
WILCOX TREND 20 BCF/3D
Hoffman Creek. 17,600 Ft (18,000 PTD)
Deep Amplitude Driven Wilcox Play.
Trap Stratigraphic To North West.
3-D Seismic & SubSurface Geology.
100% OPERATED WI; ~82% NRI
Est Reserves: 20 BCF
Separate DownDip Fault Block:100% Leased
Dry Hole: $5,500,000; Compl: $9,000,000
Part of A Larger Package-See DV 3980
CONTACT PLS PROSPECT CENTRE
DV 3982L
DUVAL CO., TX PROSPECT OFFER
456-Gross/Net Leased Acres.
WILCOX TREND
Prospect Targets Shallower Amplitudes—
With AVO In Pressured Section Above Z-Sand.
3-D Seismic & SubSurface Geology.
100% OPERATED WI; ~75% NRI
Strong Target Amplitudes Equivalent To—
Productive UpDip Upper Wilcox Sands.
All Amplitudes In Area Produce.
Est Reserves: ~13 BCF ~13 BCF/3D
Part of A Larger Package-See DV 3980
CONTACT PLS PROSPECT CENTRE
DV 3983L
DUVAL CO., TX PROSPECTS
3-Well Project. 1,641-Total Net Acres.
WILCOX TREND ~45 BCF/3D
Prospect 1: Z-Sand - 16,400 Ft.
Prospect 2: Hoffman Creek -17,800 Ft.
Prospect 3: Rosita-Upper Wilcox 14,500 Ft.
3-D Seismic & SubSurface Geology.
100% OPERATED WI; 74.5-82.83% NRI
Est Well Reserves: 10-20 BCF
Est Project Reserves: ~45 BCF
CONTACT PLS PROSPECT CENTRE
DV 3980L
–Listings For Sale
PAGE 4 MARCH, 2009
FRIO CO., TX NON-OP DEVELOPMENT
1-Well Recompletion; 318-Acres.
2-Additional PayZones Identified
2.0% NonOperated WI Available. 3-PAY
Current Lease Production: 2.0 BOPD ZONES
Stimulation Should Double Production.
SELLER HAS EXTENSIVE DATA
DV 5116PP
FRIO CO., TX PROSPECT OFFERING
1-Proposed Well. 325-Acres.
Obj 1: Edwards Lime. 4,200 Ft.
Obj 2: Detrital Reef. 3,140 Ft. STX/DV
Obj 3: Georgetown Potential
2-Additional Locations Identified.
90% Working Interest; 75% NRI
Est Reserves/Well: 144 MBO & 72 MMCF
Est Reserves/Proj: 500 MBO & 250 MMCF
SELLER HAS PACKAGE FOR REVIEW
DV 6463
GOLIAD & KARNES CO., TX GAS
1-Proposed Test Well.
NEAR PETTUS, TEXAS 9.4 BCF
Targeting Hackney Sands.
25% Working Interest; 74%-75% NRI.
Est Reserves: 140,000 MBO & 9.4 BCF
CONTACT LANDMAN FOR MORE INFO
DV 5471
GOLIAD CO., TX PROJECT
12-Prospects. 1,169-Gross Acres.
WEST AUSTIN FIELD 50 BCF
Obj 1: Middle/Lower Wilcox. 12,800 Ft.
Obj 2: Middle/Lower Wilcox. 11,600 Ft.
Obj 3: Middle/Lower Wilcox. 12,500 Ft.
75% Working Interest.
Adjacent Field Flowed >29 BCF.
Total Est Reserves: 50 BCF
Dry Hole Cost: $2,800,000
CONTACT PROSPECT GENERATOR
DV 5892
GOLIAD CO., TX PROSPECT
5 To 50-Potential Wells. 2,500-Acres.
Obj 1: Edwards Formation. 18,750 Ft. UP TO
Obj 2: Sligo Formation. 21,500 Ft. 2.0 TCF
3-D Seismic & SubSurface Geology.
75% OPERATED WI Available.
Est Reserves/Well: 25 - 50 BCF
Est Reserves/Project: 250 BCF - 2.0 TCF
DV 5760
GOLIAD CO., TX OFFERING
100 To 400-Acres.
Targeting Milagro Formation.
STX/DV
FOR SALE / JOINT DRILLING PROGRAM
Seller Will Deliver 75% NRI.
Analogous Wells Producing 4.1+ MMCFD
FOR MORE INFO, CONTACT PRINCIPAL
DV 5921
GONZALES CO., TX PROSPECT
100-Acres. SALE OR JV
FOR SALE / JOINT DRILLING PROGRAM.
ADDITIONAL DETAILS UPON REQUEST
DV 5891
HIDALGO CO., TX DEEPER POOL TEST
Testing Undrilled Fault Trap. 1,850-Acres.
DONNA FIELD - LOWER FRIO FARMIN
Marks, Bond, Montgomery. 12,500 Ft.
Stack Pay Potential: Multiple Lower Frio Obj.
WORKING INTEREST FOR FARMIN
Est Reserves: 300 BCF
CONTACT SELLER FOR PACKAGE
DV 3698
HIDALGO CO., TX PROSPECT
2,000-Acres.
SOUTH TEXAS STX/DV
Deeper Pool Test On Acreage.
Working Interest For Sale.
Est Reserves: 300 BCF
AGENT CONTACT INFO AVAILABLE
DV 3549
JACKSON CO., TX 3-D PROSPECT
550-Gross/Net Acres.
SOUTH TEXAS
Frio Sand Target. 9,100 Ft. STX/DV
High Side 3-Way Closure.
3-D Seismic Available.
50% Working Interest; 75% NRI (Lease)
Est Well Reserves: 1.12 BCFE
SELLER PREFERS TO OPERATE
DV 5697
JEFFERSON CO., TX PROSPECT
320-Acres.
MIDDLE FRIO
Obj 1: Nodosaria A. 11,280 Ft. FRIO
Obj 2: Nodosaria B. 11,800 Ft.
3-D Seismic. SubSurface Geology.
100% OPERATED WI; 75% NRI
Offset Well Producing From Intervals.
Est Rsrvs/Well: 142 MBO & 5.0 BCF
CALL PLS FOR INTRO TO SELLER
DV 5170
JIM HOGG CO., TX PROSPECT
3 To 5-Proposed Wells. 650-Acres.
Obj 1: Lower Reklaw. 11,700 Ft. 30-50 BCF
Obj 2: 1st & Lower Hinnant. 13,200 Ft.
3-D Seismic, AVO, SubSurface Geology.
80% WI Available; 59.2% NRI
Operations Available To Qualified Partner.
Est Reserves/Well: 7.0 BCF
Est Reserves/Proj: 30-50 BCF
DHC: $3,647,000; Compl: $1,673,000
EXPLORATION MGR HAS MORE DATA
DV 5284
KARNES CO., TX PROJECT
4-Well Program. 875-Acres.
Upper Wilcox L Series Targets. STX/DV/3D
Reklaw Carrizo Behind Pipe (7 Locations).
3-D Seismic Data & Well Control.
Low Pressure Gas Line Available On Lease.
85% WI Available; 77% NRI
Estimated IP: 34 BOPD & 2.0 MMCFD
Est Reserves: >38 BCF & >645 MBC
DHC: $907,000; Compl: $419,000
DETAILED FINANCIALS AVAILABLE
DV 5261
KARNES CO., TX PROSPECT
20-Potential Wells.
Targeting 2nd Reklaw. 7,000 Ft. ~11.8 BCFE
Defined By SubSurface Geology.
75% OPERATED WI; 77% NRI (Lease)
Est Rsrvs/Well: 7.0 MBO & 550 MMCF
Est Rsrvs/Project: 140 MBO & 11 BCF
CALL GEOLOGIST TO LEARN MORE
DV 5732
KENEDY CO., TX EXPLORATION DEAL
38,000-Gross Acres.
SOUTH PADRE ISLAND
Initiate Exploration Activity In STX/DV
— Southern Division of Padre Island.
3-D Seismic & Plat Available.
SEEKING EXPLORATION COMPANY TO
SHOOT 3-D & INITIATE DRILLING PROGRAM
Venture Has Option To Take Oil/Gas Lease
— Covering Undivided 50% Under Acreage.
Frio Reservoirs Have Yielded 800 BCF.
Currently 6-Oil Companies & 5-Pipelines
— Operating Within Park Boundaries.
CALL PLS FOR MORE INFORMATION
DV 3963
KENEDY CO., TX PROPERTY
1-Prospect.
CENTRAL KENEDY >99 BCF
Targeting Lower Frio & Nod Blan Sands.
Proposed Depths: 14,080-14,450 Ft.
Faulted Closure. Class 2 Amplitude.
Analogous Field Cumm’d > 280 BCFE.
Est Reserves: >99.5 BCF
CALL GEOLOGIST FOR SHOWING
DV 5067
KENEDY CO., TX PROSPECT
1-Directional Well.
TAJOS FIELD >4.6 BCF
Targeting Upper Frio Sands.
Proposed Depth: ~6,750-9,700 Ft.
UpThrown Three-Way Fault.
Est Reserves: >4.6 BCF
CONTACT GEOLOGIST FOR SHOWING
DV 5069
LAVACA CO., TX PROSPECT
~900-Acres.
Middle Wilcox E Sands. 11,500 Ft.
Western Flank Yoakum Gorge Trap.
3-D Seismic Data Available.
Seller Will Deliver 73% NRI. STX/DV/3D
Analogous Field Cumm’d 72 BCF.
Total Est Reserves: 23 BCF
DHC: $1,800,000; Compl: $1,000,000
CONTACT ENGINEER FOR MORE INFO
DV 5117
LIVE OAK CO., PROSPECT
2-Proposed Wells. 944-Net Acres.
TURNER, COMANCHE HILLS,
& WILLOW HOLLOW >60 BCF
Obj 1: Wilcox Sands. 7,100 Ft.
Obj 2: Edwards. 10,880 Ft.
Hot Area, Low-Risk.
3-D Seismic Coverage & Geology.
OPERATED & NonOperated WI.
Estimated IP: 500 BOPD & 20 MCFD
Est Reserves: 9.7 MBO & 60 BCF
DHC: $1,200,000; Compl Cost: $800,000
DV 5308
LIVE OAK CO., TX PROSPECT
160-Acres.
Targeting Queen City Formation. 7,000 Ft.
READY TO DRILL
High Porosity & Permeability.
Well Control Available. ~4.0 BCF
90% WI Available; 75% NRI
Seller Will Invest Heads Up w/ Buyer.
Operations Are Available.
Estimated IP: 2.0 MMCFD
Est Reserves: 1.0-4.0 BCF
SELLER LOOKING FOR OPERATOR
DV 5435
MCMULLEN CO., TX PROJECT
40-Acres.
SOUTH TEXAS FRAC
Wilcox ReWork. 7,500 Ft.
SEEKS FUNDING FOR FRAC JOB
15% WI Available; 75% NRI (Lease)
Net Production: 25 MCFD
After Frac Enhancement: ~500 MCFD
CONTACT SELLER FOR MORE INFO
DV 5026L
MCMULLEN CO., TX PROSPECT
23-Proposed Wells. 3,683-Acres.
SOUTH TEXAS
Obj 1: Wilcox. 5,000 Ft. - 7,000 Ft.
Obj 2: Cole. 700 Ft.
Stacked Pays. 100 BCF
DownThrown 3-Way Closure.
2-D Seismic & SubSurface Geology.
100% OPERATED WI; 75% NRI
Proven Productive.
Est Well Reserves: 2.0-10 BCF
Est Project Reserves: 100 BCF
DV 5313
MCMULLEN CO., TX PROSPECT
3-Proposed Wells. 1,926-Acres.
LA JOLLA RANCH 100+ BCF
Lower Sligo Formation Development.
Proposed Depth: ~16,800 Ft.
Edwards Formation Potential Identified.
Prominent 3-D Seismic Data.
Seller Will Deliver 75% NRI.
Est Well Reserves: 35-45 BCF
Est Project Reserves: 100+ BCF
SELLER HAS MORE INFORMATION
DV 5088
MILAM CO., TX PROJECT
9,000-Acres.
EAST TEXAS BASIN ETX/DV
Cotton Valley, Hosston, Sligo, Glenrose,
& Edwards Formations. 4,000-9,000 Ft.
Initial Test: Cotton Valley. 8,000 Ft.
Seller Will Deliver 75% NRI.
Est Completion Cost/Well: $1,500,000
SELLER HAS MORE INFO TO REVIEW
DV 5474
MILAM CO., TX PROSPECT
2,145-Minerals Acres.
MINERALS FOR SALE
Shallow Opportunity. TX MINERALS
Prolific Cotton Valley/Hosston Trend.
Also Sligo/Edwards Potential.
Seismic Data & Geology.
Proposed Depths: 4,000-9,000 Ft.
Potential Reserves: 100 BCFE
M 5909DV
REFUGIO CO., TX PROPERTY
11-Wells. 480-Gross Acres.
MCFADDIN FIELD 305 BOED
Frio Formation - Greta Sand. 4,500 Ft.
Drilling & ReCompletion Opportunities.
100% OPERATED WI; 77% NRI
Est Net Production: 286 BOPD & 119 MCFD
Est Net Cash Flow: $1,060,000/Mn
Agent Has Evaluation CD Available.
AGENT HAS UPDATE STATUS
PP 5022DV
SOUTH TEXAS PROPERTIES
160-Wells. 4,000-Acres.
Multiple PUD Locations. MULTI PUD
Working Interest For Sale.
Net Production: 95 BOPD & 65 MCFD
UTAH AGENT HAS DETAILS
PP 3658DV
SOUTH TEXAS PROSPECT OFFERING
7-Prospects. 7,981-Net Acres.
WILLACY & KENEDY CO. STX GAS
Multiple Frio Sand Gas Targets Identified.
Depths Range: 6,000-16,000 Ft.
3-D Seismic Available.
~75% Working Interest; 72% NRI
Total Est Reserves: 353 BCF
Drilling Costs Range: $300,000-$550,000
Completion Ranges: $150,000-$300,000
SELLER HAS PROSPECT BREAK-DOWN
DV 5544
SOUTH TEXAS PROSPECT SALE
3-Prospects. 1,700-Acres.
MCMULLEN, LIVE OAK & BEE CO. DV/3D
Targeting 3 Sligo Reef Structures.
All Prospects Supported By 3-D Seismic.
100% Working Interests; 74% NRI
Analogous Wells Cumm’d 32 BCF.
Completion Costs: $9.0 - $10.0 MM
CALL GEOLOGIST FOR SHOWING
DV 5132
SOUTH TEXAS STRIPPER WELLS
90-Wells. 3,160-Acres.
LEE, BASTROP, GONZALEZ & WILSON CO.
Steady Oil & Gas Production.
115 BOED
75-PUD Locations Identified.
100% OPERATED WI; 75%-87.5% NRI
Net Production: ~115 BOED
Net Cash Flow: ~$150,000/Mn
CALL AGENT FOR MORE INFO
PP 5912DV
Continental’s first Montana Three Forks/Sanish well was not commer-
cially productive. Elsewhere in the Rockies, Continental’s Red River Units
produced 14,058 BOEPD in Q4, accounting for 39% of total volumes, but
down slightly from a year ago. Continental is now only running one oper-
ated rig at the units, where it has allocated $46 million this year to drill four
producer wells, two disposal wells and a sixth water supply well.
The eight units comprising the Red River units are located along
the Cedar Hills Anticline in North Dakota, South Dakota and
Montana and produce from the Red River B formation, a thin, con-
tinuous, dolomite formation at depths of 8,000 to 9,500 ft. The units com-
prise a portion of the Cedar Hills field. Peak production of 17,000 BOEPD
should be achieved in 2010.
At the Arkoma Woodford Shale play in southeast Oklahoma, volumes
averaged 3,276 BOEPD in Q4 (9% of company vols), more than double pro-
duction for the fourth quarter last year. Proved reserves rose 245% year over
year to reach 30.7 MMBOE at year end.
Continental began using simul-fracs in the area last quarter, with seven
“Pasquali” wells flowing at an average of 2.44 MMCFD. Six “Luna-Pratt”
wells flowed at an average 3.76 MMCFD and two wells in the “Wilson” simul-
frac flowed 8.6 MMCFD and 5.9 MMCFD. Continental is only operating one
Woodford rig currently, compared to six rigs a few months ago. The company
will spend $56 million to participate in the drilling of 63 (8.0 net) wells.
Continental has lowered its 2009 capex budget to $275 million, which
includes $211 million for drilling activities, with the goal of growing vol-
umes 8% to 13 MMBOE (35,600 BOEPD). Fourth quarter volumes rose
19% on an annual basis to average 36,018 BOEPD. The company has
reduced its operated rig count from 32 in early October to seven rigs cur-
rently, with plans to operate an average of five rigs this year. Total year year-
end proved reserves were 159.3 MMBOE, up 18% from y/e 2007 due to
Bakken and Woodford drilling. Combined drilling and proved undeveloped
additions of 47.6 MMBOE replaced 400% of Continental’s total production
of 12.0 MMBOE for 2008.
continental retains Bakken rigs continued from page 1
swift lays down all operated rigs
Swift Energy said it has a substantial drilling inventory but is not operating any
rigs and will not begin drilling until service costs decline. As a result, volumes
should continue to decline from 10 MMBOE in 2008 to around 8.5 MMBOE in
2009. Proved reserves are also expected to fall, from 116.4 MMBOE at
y/e 2008 (which was down 13% from y/e 2007) to as little as 111
MMBOE at year-end 2009. Swift will spend as much as $150 million this
year, with 35% slated for Southeast Louisiana core area, where the company drilled
five wells at Lake Washington and one development well and one exploratory well
at Bay de Chene last quarter. The BDC VUC #9 well was drilled to 14,809 ft. TD
and tested it at rates up to 4.8 MMCFD.
Swift is now installing production and
processing equipment on a large concrete
barge at Bay de Chene. This equipment will
sit 18 feet above water level, which should
reduce the risks of hurricanes damage. Bay de Chene production should surpass
pre-storm levels once these new facilities have been fully commissioned during
the third quarter of 2009.
At Lake Washington, the previously announced Shasta discovery well (50% WI)
tested at 11 MMCFD and 739 BOPD. Due to the distance of this discovery from
production facilities, further delineation will occur later in 2009 after an 8-mile
pipeline has been built to the Westside facility in the field.
In Swift’s 120,000-acre core South Texas area, 12 development wells were
drilled and completed in the AWP Olmos field last quarter. The R Bracken 33H well
reached a measured depth of 14,322 ft., including a 3,530-ft. lateral in the Olmos
formation. A nine-stage frac yielded peak test rates of 10.4 MMCFeD. The well is
now flowing to sales at a sustained rate of 6.3 MMCFeD. At least three additional
horizontal wells will be drilled this year.
Swift also plans to drill a well to test the newly-discovered Eagle Ford Shale for-
mation later this year. Swift has 45,000 acres prospective for the shale.
denbury focuses on tertiary oil recovery
Denbury Resources began to see production responses from its tertiary
floods at the Lockhart Crossing (Phase I) and Tinsley (Phase III) Fields, while
production from the Martinville, Eucutta and Soso Fields (Phase II) continued
to improve.
This year, Denbury has seen initial oil production from ter-
tiary flooding of the Cranfield Field. And by the third quarter
Denbury expects a tertiary production response from the
Heidelberg Field, where CO2 injections began only last December.
Denbury’s 2009 E&D budget of $750 million includes $485 million for CO2
pipelines, the majority of which relates to the Green Pipeline under construction
from Louisiana to Texas to serve the
Hastings field, acquired from Venoco last
year for $200 million. Hastings produces
~2,500 BOEPD with conventional proved
reserves of ~7.7 MMBOE.
About 90% of the 2009 budget will be spent on tertiary related operations,
which should produce 24,500 BOPD this year, 26% increase over tertiary pro-
duction last year. Average production from all operations is forecasted at 50,000
BOEPD this year, up 8% over 2008. Denbury reported a total of 250.5 MMBOE
in proved reserves at year end, up from 194.7 MMBOE in 2007.
In the Barnett Shale, production averaged 73.4 MMCFeD last quarter, slightly
less than a year ago, with volumes expected to gradually decrease this year due
to lower spending. Denbury previously tried to sell its Barnett assets, but was
unable to find a buyer.
Swift’s Shasta discovery well
at Lake Washington tested at
11 MMCFD and 739 BOPD.
Average production from all
operations is forecasted at
50,000 BOEPD this year.
Why wait for the capital you need? If you are a small- to mid-sized
operator with a project in the $1 million to $20 million range,
contact Patriot Exploration at 713-353-3997
www.patriotexploration.com
Opportunity driven.
SOUTH TEXAS PROPERTIES & PROSPECTS
Source: Endeavor Corp.’s 2009 IPAA OGIS Florida presentation.
For recent news on the company, see our interview story on page 7.
North Texas
Ark-La-Tex Edition
Available!
888-622-9943
www.donsdirectory.com
May 6 & 7, 2009 @ Oklahoma City, OK
Cox Business Services Convention Center
Register @ www.midconexpo.com
Office: 405.478.0404 • Fax: 405.478.9505
Email: PaulSmart@smart-bros.com
ENERGY CONFERENCE & EXPOSITION
Prospects, Properties & Presentations
Wednesday, May 6
TH
• Natual Gas Conference
Thursday, May 7
TH
• Energy Forum
9:00-11:00 AM PANEL DISCUSSION: Natural Gas Vehicles -
OEM to End User Markets
Opening Comments, Moderator & Panelist-
Dennis Davis - General Manager of Bob Howard Honda and
member of the American Natural Gas Alliance (ANGA) is the
preeminent provider of NGVs in the Southwest, which include
the CNG powered Honda Civic GX. Mr. Davis will be speaking
on OEMs and NGVs.
Mark Harris - NGV Specialist Chesapeake Energy Corporation
will be speaking on natural gas infrastructure in Oklahoma
and across the country.
Taylor Shinn- Manager of Corporate Dev. Chesapeake
Energy Corporation will be speaking on macro environment,
government, and new opportunities for energy fleets.
11:10-11:40 AM Natural Gas for Transportation: Clean, Cheap,
Domestic
James Orsulak- Business Development Manager Clean
Energy will be speaking on reducing the nations dependence
on imported oil, cleaner air, and saving billions of dollars in
fuel cost through the increased use of CNG and LNG.
12:45-1:30 PM Key Note Address: SemGroup Update
G
ary M. McDonald- Partner in the firm
Doerner, Saunders, Daniel & Anderson,
L.L.P. , which is a leading advocate of producer
rights in the SemGroup bankruptcy case, will be
speaking on statutory protections afforded to
producers, which are at issue in the SemGroup
case and could arise in the future.
1:40-2:15 PM Guerilla Marketing: Sales versus Marketing
Bill Shanahan- Marketing Manager, Chaparral Energy, LLC
will be speaking about gas marketing from the standpoint of
taking a passive approach versus taking an aggressive
approach in order to maximize value for the product.
2:30-3:00 PM Hedging Price Risk in a Volatile Commodities
Environment
Norman L. Young- Vice President
Joaquin Anderson- Account Executive Coquest Structured
Products will be speaking on misconceptions about hedging
and answer common questions on this topic.
3:10-3:40 PM Natural Gas Basis: Anomaly or Opportunity?
Steve Daugherty - Senior Vice President, Derivatives, Bank of
Oklahoma Energy Group will be speaking on Basis Hedging
for the Future.
3:50-4:10 PM NGEAO: Clearing a Path for Others to Follow
Mary Beasley - President of the NGEAO (Natural Gas and
Energy Association of Oklahoma) and Director of
Mid-Continent Origination for ConocoPhillips will be speaking
on the benefits of supporting the NGEAO.
8:30-9:00 AM Hydrocarbon Micro-seepage Surveys in the
Mid-Continent Region: Broad Reconnaissance to
Discreet Prospect Evaluation Strategies
Daniel C. Hitzman- President, Geo-Microbial Technologies
will be speaking on hydrocarbon microseepage surveys to
optimize, rank, and challenge geologic and geophysical
prospects in the USA’s mid-continent region to increase
drilling successes and very accurately avoids dry holes.
9:10-10:20 AM PANEL DISCUSSION: Creating the Perfect
Independent Operator: Lowering Costs While
Improving E&P Results
Mark B. Smith- Founder of Neofirma, Inc. will be the modera-
tor and a panelist of this discussion, which includes
Bret Boteler - Founder and President, EnerMax
Richard Marlin- Executive Vice President - Engineering,
Quest Resources Corporation
Stephen Roberts - Senior Vice President - Engineering,
Jones Energy
10:30-11:00 AM Ecosphere Technologies: Total Frac Water
Management Process
Dennis McGuire - President, Ecosphere Technologies
11:10-11:40 AM International Oilfield Service & Manufacturing:
Global Economic Indicators for the Domestic
Petroleum Industry
Phil Lancaster - CEO, Great White Energy Services
Register Now! www.midconexpo.com
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Quick Facts
● Same date & location as 2008
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Check out what you missed last year @ www.midconexpo.com
–Listings For Sale
SOUTHEAST TEXAS
BRAZORIA CO., TX OFFERING
382-Acres.
Objective: Het Lime, F4, & F9. 11,600 Ft.
Het Play Is Twin Of Shut-In Gas Well.
3-D Seismic Controlled.
Seller Will Deliver 74.5% NRI.
16 BCF/3D
Analogous Prospect Cumm’d 18 BCF.
Est Frio Reserves: 23 BCF
Est Het Lime Reserves: 2.0 BCF
Total AFE: $850,000.00
SELLER HAS UPDATED THIS PROJECT
DV 5375
COLORADO CO., TX PROPERTY
2-Wells.
ENGLEHART FIELD
Frio Production. 3,400 Ft. 399 MCFD
95.0% OPERATED WI; ~68.88% NRI
Gross Production: 576 MCFD
Net Production: 399 MCFD
Avg Net Cash Flow: $60,000 - $65,000/Mn
GO TO PLSX.COM FOR PACKAGE
PP 5949
COLORADO CO., TX PROSPECTS
~814-Gross Acres. ~673-Net Acres.
SOUTHEAST TEXAS 31 BCF
Cruel and Priscilla Targeted.
Targets Productive in Two Nearby Fields.
SEEKING PARTNERS TO DRILL
Est Reserves: 31 BCF
Yegua, Frio, and Miocene Potential.
DV 3817
FORT BEND CO., TX GAS DRILLING
2-Proposed Wells. 74-Acres.
BIG CREEK DOME & NEEDVILLE
Miocene Target. 2,400 Ft.
3-D Seismic. ~872 MMCF/3D
50% WI Available; 75% NRI (Lease)
Est Reserves: ~873 MMCF
DHC: $835,600; Compl: $506,500
SELLER PREFERS TO OPERATE
DV 5442
FORT BEND CO., TX TEST
2-Well Commitment. 840-Gross/Net Acres.
SOUTHEAST TEXAS GAS
3-Well Potential. 11.4 BCFE
Yegua EY-1, EY-2 & AU Sands.
Proposed Depth: 12,700 Ft.
50% WI Available; 75% NRI (Lease)
Est Well Reserves: 11.4 BCFE
DHC: $5,584,000; Compl: $2,032,000
SELLER PREFERS TO OPERATE
DV 5598
FORT BEND CO., TX PROSPECT
2-Possible Wells. 121-Acres.
ROSENBURG (10 PAYS)
Obj 1a: Frio Sands. 4,620-5,600 Ft.
Obj 1b: Vicksburg. 6,270 Ft.
Obj 2: Frio Sands. 5,020-5,340 Ft. FRIO
Defined By SubSurface Geology.
Some Offset Or Area 2-D Seismic.
100% OPERATED WI; 75% NRI
Wells FARO 322-2,036 MCFD
Initial Flow Rate of 750 MCFD
Est Well Reserves: 1.5+ BCF
Est Proj Reserves: ~10.6 MBC & 6.5 BCF
9-Individual Frio Sands Plus Vicksburg
Drill & Complete: $1,124,000
READY TO DRILL - CALL PLS FOR INFO
DV 5208
GALVESTON CO., TX PROPERTY
1-Oil Well. 2-ShutIn. 38-Acres.
DICKINSON - MACO SETX/PP
Frio Formation. 7,700 Ft.
50% OPERATED WI; 37.5% NRI
Gross Production: 23 BOPD & 10 MCFD
Net Production: ~8.6 BOPD
ShutIn Well Has Re-Work Potential.
Re-Work Could Yield Another 20 BOPD.
GENERATOR HAS MORE INFO
PP 5486DV
GALVESTON CO., TX PROSPECT
3-Potential Wells. 1,284-Acres.
Obj 1: Big Gas Sand. 10,500 Ft. 100 BCF
Obj 2: Grubbs Sand. 10,800 Ft.
3-D Seismic & SubSurface Geology.
75% OPERATED WI; 74% NRI (Lease)
Est Reserves/Well: 25 BCF
Est Reserves/Proj: 100 BCF
SELLER HAS MORE DATA AVAILABLE
DV 5424
GRIMES CO., TX PROSPECT
400-Wells. 20,500-Acres.
Obj 1: Woodbine Shale. 15,900 Ft. ~1.6 TCF
Obj 2: Eagleford Shale. 15,800 Ft.
2-D Seismic & SubSurface Geology.
50% OPERATED WI; 75% NRI (Lease)
Est Reserves/Well: 4.0 BCF
Est Reserves/Project: 1.6 TCF
New Well Cased To 14,800 Ft—
Completion Costs: $4,000,000
GENERATOR HAS DETAILS
DV 5656
HARRIS CO., TX PROPERTY
3-Wells. 1-SWD.
DYERSDALE N. FIELD ~59 BOED
Yegua & Cook Mountain Production.
Behind Pipe PDNP & Re-Entry Potential.
38% OPERATED WI Available.
Gross Production: 37 BOPD & 130 MCFD
Engineering Report Available w/ CA.
CALL FOR SELLER CONTACT INFO
PP 5918DV
PAGE 6 MARCH, 2009
SOUTHEAST TEXAS
JEFFERSON CO., TX LEASEHOLDS
3-Tracts. 2,262-Acres.
SOUTHEAST TEXAS.
VARIOUS SURVEYS
Mineral Rights For Sale. ACREAGE
Past Drilling Shows Success.
Non-Participating Royalty In One Tract.
CONTACT PLS FOR DETAILS
DV 5024L
MATAGORDA CO., TX PROSPECT
1-Prospect.
Obj 1: Melb F & Nod Blan >13 BCFE
Obj 2: Wadsworth Pay Sands
Proposed Depths: 11,600-12,925 Ft.
Faulted Closure.
Analogous Field Cumm’d 223 BCFE.
Est Reserves: 326 MBC & 13.0 BCF
CONTACT GEOLOGIST FOR SHOWING
DV 5068
MATAGORDA CO., TX OFFERING
2-Exploratory Wells.
FRIO TREND 12 BCFE
Targeting Upper Frio Sands.
Proposed Depth: ~10,000 Ft.
Melborne, Nod B Potential Identified.
Fault Block Is 3-D Defined.
27.5% Working Interest Available.
Est Reserves: 12 BCFE
SELLER HAS MORE DETAILS
DV 5277
MATAGORDA CO., TX PROSPECT SALE
30-Potential Wells.
7,247-Acres (HBP).
MATAGORDA BAY AREA 760 BCFE
Obj 1: Cib Hazz. 11,000 Ft.
Obj 2: Tex Miss & Anomalina. 18,000 Ft.
ReDrill Of PUD Location.
3-D Seismic & SubSurface Geology.
100% OPERATED WI; 75% NRI
Est Reserves/Well: 25 BCFE
Est Reserves/Proj: 760 BCFE
GENERATOR HAS MORE DETAILS
DV 5422
MATAGORDA CO., TX PROJECT
1-Test Well. 210-Acres.
SOUTH TEXAS 3D/AVO
Test Frio Tex Miss Sand. 15,000 Ft.
Defined By Reprocessed 3-D Seismic.
80% OPERATED WI; 74% NRI
CALL GEOLOGIST FOR SHOWING
DV 5131
MATAGORDA CO., TX OFFER
3,645-Gross Acres.
SARGENT SOUTH FIELD
Deepening Of 16,000 Ft. Cased Hole—
— Gulf No. 1 Hamill & Hamill.
High Quality 2-D Seismic Data.
75% Working Interest Available. SE TEXAS
Est Reserves @ 50 Ft: 187.5 BCF
Est Reserves @ 100 Ft: 375 BCF
CONTACT PROSPECT GENERATOR
DV 5893
POLK CO., TX PROJECT
~80,000-Net Acres.
Austin Chalk Targets. SETX/DV
Proposed Depths: 12,800-13,500 Ft.
CONTACT PROSPECT GENERATOR
DV 5227
SOUTHEAST TEXAS ACREAGE
7-Counties. >400,000-Net Acres (HBP).
FAYETTE, BURLESON,
LEE, BRAZOS,GRIMES, STX ACREAGE
WASHINGTON & AUSTIN CO.
Wilcox & Yegua Formation Targets.
Other Targets Have Been Identified.
Shallow Drilling Depths. Normal Pressures.
3-D & 2-D Seismic Data Available.
SEEKING PARTNERS FOR EXPLOIT
DV 5554
SOUTHEAST TEXAS PRODUCTION
2-Wells.
KARNES & MADISON CO.
MADISONVILLE & RUNGE FIELDS
Sub-Clarksville & Roeder Production.
OPERATED WI For Sale. 208 MCFED
Gross Production: 4.0 BOPD & 246 MCFD
Net Production: 208 MCFED
CONTACT PLS FOR QUICK PACKAGE
PP 4238
SOUTHEAST TEXAS PROJECT
3-Exploratory Wells. 3-Development.
JACKSON, CALHOUN, MATAGORDA
UnTested 3-D Defined Fault Blocks.
UpThrown 3-Way Fault Closure. 45 BCFE
50% Working Interest Available.
Est Reserves: 45 BCFE
DV 5484
SOUTHEAST TEXAS PROSPECTS
1,400-Acres.
WHARTON & COLORADO CO. 165 BCF
Obj 1: L. Wilcox Sands. 15,500 Ft.
Obj 2: M. Wilcox Sands. 12,000 Ft.
Upper Wilcox Potential.
3-D Seismic & SubSurface Geology.
90% OPERATED WI; 74% NRI
Est Reserves/Well: 25 BCF
Est Reserves/Proj: 165 BCF
DV 5533
Go to www.plsx.com
for more listings!
SOUTH TEXAS
TEXAS PROSPECT OFFERING
8-Prospects. 5,500-Acres.
Starr, Zapata, Brooks, Matagorda Co.
Reklaw, Queen City, & Miocene Targets.
All Prospects Have 3-D Seismic.
Varying NonOperated WI Available. TX/DV
Reserve Potential And Costs—
— Vary By Depth & Prospect.
SELLER HAS MORE DETAILS
DV 5733
TEXAS SALE PACKAGE
Corporate Sale Of Assets.
SOUTH TEXAS & PERMIAN CORPORATE
161-Oil & Gas Wells.
Large Proprietary 3-D Seismic Database.
South Texas Exploration Component
SALE OF ASSETS OR WHOLE ENTITY
Net Production: 600 BOED
Package Is 15% Operated WI & 67% Oil
BEING HANDLED BY HOUSTON AGENT
MORE DATA AVAILABLE SOON
CO 5346PP
VAL VERDE CO., TX PROPERTY
27-Wells.
VINEGARONE 3,196 MCFD
Multiple Upside Opportunities.
74% WI Available; 64% NRI
Net Production: 3,196 MCFD
Multiple Drilling Opportunities.
Net Cash Flow: $400,000/Mn
AGENT WANTS OFFERS APRIL 2009
PP 5264
WEBB CO., TX PROSPECT
5 To 8-Proposed Wells. 1,011-Acres.
LOBO TREND 10 BCF
Targeting Claiborne Sands. 7,400 Ft.
Wilcox Potential Identified.
3-D Seismic, AVO, SubSurface Geology.
80% WI Available; 59.2% NRI
Operations Available To Qualified Partner.
Est Reserves/Well: 2.0 BCF
Est Reserves/Proj: 10 BCF
EXPLORATION MGR HAS DETAILS
DV 5285
WEBB CO., TX PROSPECT SALE
4-Potential Wells. 1,000-Acres.
LOBO TREND LOBO
Lobo Targets Identified. 11,000 Ft.
3-D Seismic, AVO, SubSurface Geology.
80% WI Available; 59.2% NRI
Operations Available To Qualified Partner.
Est Reserves/Well: 2.0 BCF
Est Reserves/Proj: 11 BCF
EXPLORATION MGR HAS INFO
DV 5286
WILLACY CO., TX PROSPECT
SOUTH TEXAS
Stacked Pay. 2,000 Ft. - 14,000 Ft.
3-D Seismic Data.
STACKED PAY/3D
Working Interest For Sale.
CONTACT AGENT FOR PACKAGE
DV 3459
ZAPATA CO., TX PROSPECT
6-Potential Wells. ~665-Acres.
Charco Target Identified. 9,800 Ft.
Very Active Area. ~12 BCF
3-D Seismic, AVO, SubSurface Geology.
80% WI Available; 59.2% NRI
Operations Available To Qualified Partner.
Est Reserves/Well: ~2.0 BCF
Est Reserves/Project: ~12 BCF
EXPLORATION MGR HAS MORE INFO
DV 5283
SOUTHEAST TEXAS
AUSTIN CO., TX PROSPECT
4+ Wells. 3,400-Acres.
DEEP AUSTIN CHALK TREND
Obj 1: Knowles Reef. 23,000 Ft. 1.4+ TCF
Obj 2: Glen Rose. 17,000 Ft.
Obj 3: Austin Chalk. 15,000 Ft.
2-D Seismic, SubSurface & Well Logs.
100% OPERATED WI; 75% NRI
Est Reserves/Well: 50 BCF
Est Reserves/Project: 1.4+ TCF
DV 5655
BASTROP & LEE CO., TX PROPERTY
17,000-Net Acres.
UPDIP GIDDINGS FIELD
2-PDP. 4-PUD. 5-PROB. 2-PDNP.
68-Drilling Locations Identified.
Austin Chalk/Buda Play. ~15 MMBOE
Total Depth: 7,500 Ft.
50% NonOperated WI; 76% NRI (Lease)
Gross Production: 250 BOPD & 250 MCFD
Est Reserves: 14.8 MMBOE
Net PV9 Value: $27,757,500
PP 5426DV
BRAZORIA CO., TX PROSPECT
1-Proposed Well. 400-Acres.
RATTLESNAKE MOUND 28 BCF
Obj 1: Big Gas Sand. 10,300 Ft.
Obj 2: Grubbs Sand. 10,500 Ft.
3-D Seismic & SubSurface Geology.
35% NonOperated WI; 74% NRI (Lease)
Offset To Excellent Recent Well.
Est Reserves: 28 BCF
DHC: $5,200,000; Compl: $2,000,000
GENERATOR HAS MORE INFO
DV 5423
wanT ads. PLS can create a WANTED AD which describes a buyer’s
preferences, criteria, areas of interest and/or acquisition budget. These ads
cost only $25 per month and run all year, off and on in PLS’ various reports
and online at www.plsx.com. The ads are a simple and inexpensive medium to
get a buyer’s specific needs in front of the industry in a discreet, professional
and anonymous manner. Leads from Wanted Ads are referred directly through
PLS to a buyer.
disPlay adVERTisEmEnTs. PLS also offers traditional advertise-
ments in our reports including logo ads, shared logo ads, one column block
ads, multi-column rectangular ads and traditional 1/6th, 1/4th, 1/2 and full
page ads. These traditional display advertisements cost between $50-$3,500
per placement depending on ad size, color preferences and ad position
within the report(s). PLS also offers Sponsorship Programs on our website at
www.plsx.com and in our hard copy publications. These sponsorships cost
between $2,500 and $3,500 and allow a buyer’s ads and logos to appear all
year long. PLS advertising and sponsorship programs offer buyers a unique,
professional and public platform to solicit deals. PLS recommends that buyers
execute an advertising program as opposed to a one-time ad placement.
As a buyer it’s important to keep your name circulating in the industry to pro-
mote deal flow and prompt seller memory.
diREcT mail camPaigns. In addition to advertisements, PLS
can also design and implement a Direct Mail Campaign for applicable buyers
targeting potential sellers. For example, PLS could target a specific area
(Permian Basin or Offshore); formation (Wilcox, Barnett Shale) or property type
(royalties, operations or non-operated WI) for a potential campaign. The Direct
Mail effort can be done on a buyer’s letterhead or PLS’ letterhead if the client
desires to remain anonymous. Direct mail is a solid, aggressive format for get-
ting your message out to potential sellers and a campaign has a more lasting
effect over a one-time advertisement. Direct mail is also cost effective since
most campaigns cost $1,500-$3,500 upfront plus $1.00 per letter. PLS has
more than 60,000 companies in our database in the U.S. and Canada.
REFERRals and soliciTaTions. PLS also offers consulting serv-
ices for buyers including originating transactions and/or screening deals for
buyers with specific noncompetitive needs. PLS is uniquely qualified to access
deal flow and/or screen opportunities for buyers desiring help. Based on a
formal engagement agreement, PLS can originate and create opportunities,
source deals and or screen opportunities for specific buyers. We can also
remind buyers what’s for sale on a one-off basis and/or drop your name, or
regularly refer buyers on an applicable case-by-case basis. PLS acts as an addi-
tional tool for buyers with limited business development resources of their own.
I trust these four services offer your company food for thought. Please
give me a call if you have any questions or comments.
Tony motto, director of Business development, 713-650-1212
PXP drills ahead in haynesville partnership
Plains Exploration & Production has drilled nine gross wells in the
Haynesville Shale this year under its joint venture agreement with Chesapeake
Energy. Currently 18 wells are producing 100 (14.2 net) MMCFeD and another
15 wells are awaiting completion. The joint venture plans to
drill 150 gross wells and run an average of 26 rigs in the play
during 2009. By year end, production should ramp up to 575
MMCFeD (65 MMCFeD net to PXP).
Nevertheless, PXP recently requested to amend the terms of the joint venture
and gain a one-time option to avoid paying the last $800 million of its $1.65 bil-
lion drilling carry obligation to Chesapeake, which represents 25% of the origi-
nal JV transaction. (For more details see related story on Chesapeake Energy.)
PXP has still slated 43% of its $1.05 billion capital budget to the Haynesville
Shale this year. PXP will also drill its committed high-impact exploration proj-
ects including the deepening of the Friesian discovery in the Tahiti field, its
Salida prospect with Shell, and its White
Shark prospect in Vietnam.
Remaining capital spending will be
focused on the Flatrock development in the
Gulf of Mexico and maintaining production
in its long-life reserve base in California. Flatrock production recently surpassed
200 (45 net) MMCFeD, and proved reserves at year-end were in excess of 350
(74.4 net) BCFe. PXP is producing from four wells at Flatrock, with a fifth well
being completed and a sixth drilling ahead.
PXP is also participating in two McMoRan-operated Flatrock step-out
prospects. The companies have decided to drill the Tom Sauk (24.4% WI) well
(Louisiana Lease 340) deeper than originally planned towards 21,150 ft. to test
the deeper Gyro sands. And the Ammazzo (28.1%) prospect (South Marsh Island
251), is drilling towards 24,500 ft.
Due to asset sales last year, PXP expects sales volumes to fall to ~80,000
BOEPD in 2009 from 90,500 BOEPD in 2008 (76,000 BOEPD after adjusting
for the sales). The company reported total y/e proved reserves of 292 MMBOE
(72% developed), down from 689.9 MMBOE a year ago, due to 204 MMBOE in
negative price revisions and 207.4 MMBOE in divestments.
PXP has slated 43% of its
$1.05 billion capital budget to
the Haynesville Shale this year.
PLS offers buyers added value services
southern star sees cotton Valley success
Southern Star Energy and Dynamic Resources drilled their ninth successful
Cotton Valley well in the Sentell field, in Bossier Parish. The L. Moore 20-1 well
reached 9,904 ft. TD and encountered 104 feet of net pay. The eight prior wells hit
similar pay and five wells are now producing, the sixth is awaiting pipeline con-
struction, and two wells were extended as successful Haynesville delineation tests.
The two Haynesville wells Southern Star Atkins-Lincoln 17-2 and Burt 20-1
encountered 327 feet and 249 feet of net pay, respectively. The field's
Haynesville potential is 258 to 321 BCF in place per section. Southern Star will
spud its third delineation well, the Boyce Pate 16-1, in Q2.
st. mary drills four shale plays
St. Mary Land & Exploration is directing its efforts towards three emerging
shale plays this year – the Haynesville, Woodford, Marcellus and recently-dis-
covered Eagle Ford shales. St Mary has already drilled its first operated
Haynesville horizontal to 15,100 ft. TD, with a 3,300 ft. lateral. The Johnson
Trust 1-2 (90% WI) is in De Soto Parish and will have a 10-stage frac.
St. Mary will now move to Texas and spud its next Haynesville well in
Shelby Co. The company has 50,000 prospect Haynesville acres.
In the Eagle Ford (210,000 acres) and Marcellus (43,000 acres)
plays, St. Mary hopes to spud its first operated horizontal wells in midyear. The
company will allot $80 million of its $341 million capex to the three shale plays
this year in addition to $38 million for the Woodford Shale. Currently, the com-
pany is running seven operated drilling rigs, with one a piece in the Rockies, East
Texas and the Permian, plus four in the Midcontinent.
Last quarter, production reached a company record 30 BCFe (333 MMCFeD).
But y/e proved reserves of 865.5 BCFe were 20% lower than a year ago due to
199.7 BCFe in negative price revisions and poor drilling results at the Olmos
shallow gas properties in South Texas, acquired in 2007. Drilling in this area has
been suspended. Despite its shale exposure, St. Mary expects production to
decrease each quarter this year due to less drilling.
Trae Ellerbe & Associates, Inc.
Trae@TraeEllerbe.com www.cggveritas.com
Matagorda County that is an extremely
deep well that crossed multiple intervals.
Most of the drilling is routine, except
when working in very deep areas with
very high temperatures. That can affect
the performance of the equipment.
What we were finding is that some
foreign companies that have been drilling
deeper in the Gulf of Mexico, particularly
the deep shelf plays, are moving back
onshore because the plays are similar
to those being drilled in the deep shelf
areas of the Gulf of Mexico. In our case,
the wells are comparable to the high
pressure, high temperature wells that
we drill in the United Kingdom sector
of the North Sea. The two areas do
not completely correlate, but there are
similarities between what we are doing
in both places.
Pls: what kind of stake does
Endeavour have in its south Texas
activities, and what are the net
drilling costs to the company?
Endeavour: We have not operated
any wells in Texas to date, although we
have operated wells in both the United
Kingdom and Norway. In South Texas,
we have teamed with very competent
partners, one being El Paso Corp.
Our costs depend on a number of
factors. Our working interest averages
range from 10% to 25%. Well costs differ
dramatically depending on the depth of
the well. The Cochran #1 well only was
drilled to about 17,000 ft. so our net costs
were around $3.0 million. We hold a
20% interest in that well.
The Alligator Bayou well was drilled
to a total depth of almost 25,000 feet. It
is a much deeper well and therefore a
much more expensive well, but we only
hold 10% interest. The total net cost
for that well will be around $4.0 to $5.0
million. We will continue to try to spend
somewhere between a half a million
and $5.0 million for these wells, because
a company our size does not need to
expose itself to $10 or $20 million in a
single project.
Pls: how much capital spending
will Endeavour allocate to u.s. opera-
tions in 2009?
Endeavour: We have approved a $90
million capital budget this year and will
spend upwards of one-third of that budget
in the United States. We also have sev-
eral developments moving forward in the
United Kingdom and one fairly significant
exploration project in Norway.
You can expect us to spend between
$15 and $30 million in the U.S. this year
and probably drill eight to 10 exploration
e&p
Endeavour sails from north sea to south Texas
international indy announces new onshore play
interview by kyle Francis
Since its inception in early 2004,
Endeavour international corp. has
transformed from a start-up entity to a
balanced oil and gas com-
pany, becoming one of the
most active independents in
the North Sea, with a strong
production base that gener-
ates significant cash flow.
In late 2008, Endeavour transferred
some of that cash flow to the United
States, launching an onshore exploratory
campaign in South Texas that resulted in
a discovery and first U.S. production.
Endeavour has
two prospects in
South Texas –
Alligator Bayou
and Garwood,
where the com-
pany’s Cochran
#1 well recently
flowed
6.2 MMCFD
and 96 BOPD.
Endeavour plans
at least eight
additional explo-
ration wells in the region this year. The
company has also spud a well at Alligator
Bayou that reached 24,000 ft. and is now
flow testing.
Endeavour is headed by CEO William
Transier, who also co-founded the com-
pany in 2004. Previously, Transier served
as EVP and CFO for Ocean Energy and
was part of the management team that
spearheaded the 2003 merger between
Ocean and Devon Energy that created
the largest independent oil and gas
exploration and production company in
the United States.
Recently, PLS caught up with Transier
to discuss Endeavour’s transition to
South Texas and what the company has
planned for 2009.
Pls: why did Endeavour choose
to expand from the north sea into
south Texas?
Endeavour: Basically for two rea-
sons. One, we wanted to balance our
portfolio between our offshore assets
in the North Sea, which require a higher
cost and longer-cycle time to develop,
and onshore properties in the United
States that require much less cost
per unit and offer shorter lead times
to production.
Second, because of the way
Endeavor was formed by backing into a
company with a net operating loss (NOL)
that carried over for tax purposes, we
have sig nificant unrecognized tax benefits
that improve our economics. We could
do a great deal of work tax free with
PAGE 7 PROSPECTS & PROPERTIES
A successful oil and gas company is not
built by drilling a few individual wells but
by creating a niche position or play.
We will spend $15 to $30 million in
the U.S. this year to drill between eight
and 10 wells.
William Transier, CEO
1. 2008 discretionary cash flow
$130 +/-million
2. 2008 ending cash balance
$60 +/-million
3. Valuable hedge position at
$80 oil (4Q08 gain in excess
of $100 million)
4. 2008 production at higher
end of forecast range
8,900+/-boepd
5. Successful E&A process
12 consecutive successes
6. Recent launch of onshore
U.S. exploration campaign
7. 2P reserves of 35 mmboe
8. Sustainable, self-funded
business model
Endeavor at a glance
1. Initial entrance onshore Texas
2. Prospects planned Alligator
Bayou & Garwood
3. Lower finding cost
4. Higher pre-drill reserve
potential
5. Lower tax rate and NOLs
6. Shorter cycle time, from
discovery to production
than North Sea
7. Recent downturn provides
opportune time
8. Strong capital position
9. Increased deal flow
10. Successfully drill 13 wells
in 2009
11. 3 appraisal and 10 exploratory
Endeavor’s Objectives
almost $60 million in tax NOL available
to us. Plus we already had our office
here in Houston.
Pls: how is Endeavour adapting
its drilling techniques to succeed in
south Texas?
Endeavour: About a year and a half
ago, John Williams joined our company
from ConocoPhillips to run our explo-
ration program. He has a lot of experi-
ence around the world and had worked
for a number of different companies
drilling in South Texas. Our first well,
the Cochran #1, was placed on produc-
tion during flow testing. Now that is
quick turnaround. We are currently flow
testing the Alligator Bayou prospect in
Sourcing Capital.
Energy Finance.
PLS’ Capital Markets Group sources capital and provides
strategic advisory services to both public and private companies.
Contact us today in order to discuss potential opportunities.
Get more info on our services at plsx.com/capital
Jason Reimbold, Director, Capital Markets Group
Direct: 713-600-0119 • Fax: 713-658-1922 • Email: jreimbold@plsx.com
PLS, Inc., P.O. Box 4987, Houston TX 77210
Office: 713-650-1212 • www.plsx.com
and production wells. We have a fairly
firm drilling program in place, it is just a
matter now of working with our partners
and evaluating the results of what is
already drilling. We’ll move as quickly
as we can.
We plan to initially develop the
Cochran discovery by drilling two devel-
opment wells, and then taking it from
there based on the results. For the
Alligator Bayou prospect, we’ll wait until
we get the final results of our initial well,
the Armour Runnels ST #1, before decid-
ing what to do, but we think we can drill a
number of wells there going forward.
You can assume that in the first year,
we will fund our South Texas drilling with
cash flow from our North Sea operations
because there is no cash flow from the
U.S. yet. Our tax NOL will offset any rev-
enues. It will be basically tax free income
in the U.S. that is small but growing. As
our cash flow in the U.S. grows, we will
use it to move forward.
Pls: will Endeavour look to make
any acquisitions in the united states
this year?
Endeavour: The answer is yes.
There is a real disparity between what oil
and gas properties are selling for today
in the United States versus what they’re
selling for in the North Sea. We are a
company that is clearly stable financially,
and we have cash and are generating
cash flow that gives us the opportunity
to pursue the right transactions.
A successful oil and gas company
is not built by drilling a few individual
wells but by creating a niche position or
play. We continue to look to add to our
portfolio in a significant way through
either business development or via
merger and acquisition opportunities just
as we have done in the North Sea. This
business requires scope and scale, and
you can’t do it fast enough through
organic growth.
We will be opportunistic and do what
makes sense for us. We look for M&A
activity that allows us to gain extra capital
and a property position in which we can
put that cash and capital to work to
expand more quickly. We’re not neces-
sarily confining ourselves to South Texas.
With that said, we recognize that a small
A&D company is not in a position to pio-
neer new technical developments to a
particular play or area. That requires a
bigger company than we are now. We
seek opportunities and properties that
complement our assets, expertise and
balance sheet. That’s how we are build-
ing value.
Of The E&P Sector
–Listings For Sale
PAGE 8 MARCH, 2009
SOUTHEAST TEXAS
WALKER CO., TX PROSPECT SALE
20 To 30-Potential Wells. 1,097-Acres.
18,911-Acre Option.
Significant Horizontal Opportunity
Obj 1: Georgetown. 11,900 Ft. 98.5 BCFE
Obj 2: Buda. 11,750 Ft.
2-D Seismic & SubSurface Geology.
100% OPERATED WI; 75% NRI
Est Reserves/Well: 250 MBC & 2.5 BCF
Est Reserves/Proj: 6.0 MMBC & 62.5 BCF
Completion Cost: $3,500,000
CALL PLS FOR INTRO TO SELLER
DV 5173
WALLER CO., TX PROSPECT
5,915-Net Acres.
KATY FIELD >5,900 ACRES
Obj 1: Yegua Formation. 6,000-8,000 Ft.
Obj 2: Wilcox. 10,300-11,750 Ft.
Reprocessed 2-D Seismic.
Located On Downthrown Fault Closures.
Wants To Spud ASAP. Late 2008.
LAND MANAGER HAS SHOWING
DV 5465
WALLER CO., TX OFFERING
4,097-Net Acres.
KATY FIELD SETX/DV
Obj 1: Frio Formation. 2,000-3,000 Ft.
Obj 2: Vicksburg. 3,000-4,000 Ft.
Obj 3: Wilcox. 8,000-9,000 Ft.
Multiple Horizons. UnTested.
Reprocessed 2-D Seismic.
CONTACT SELLER FOR MORE DATA
DV 5467
WALLER CO., TX PROJECT
6,233-Net Acres.
KATY FIELD YEGUA
Yegua Formation. 5,000-7,000 Ft.
Multiple Horizons.
Reprocessed 2-D Seismic.
Q4 2008 Spud Date.
LAND MANAGER HAS MORE INFO
DV 5466
WALLER CO., TX PROJECT SALE
1,500-20,000 Acres Possible.
KATY FIELD EXTENSION
Obj 1: Wilcox. 10,400-12,500 Ft.
Obj 2: Yegua. 6,700-7,500 Ft.
Located On 4-Way Closure. 3-D MULTI PAY
2-D & 3-D Seismic Available.
Some Frio Potential Exists
CONTACT LANDMAN FOR DETAILS
DV 5464
WALLER CO., TX OPPORTUNITY
100-Proposed Wells. 16,032-Net Acres.
Obj 1: Wilcox Formation. 10,000 Ft.
Obj 2: Yegua Formation. 7,000 Ft.
Multiple Objectives Identified. WILCOX
Defined By 3-D & 2-D Seismic. G&G.
50% OPERATED WI; 36.3% NRI
Dry Hole Cost: $1,570,000
LAND DEPT HAS MORE DETAILS
DV 5836
WHARTON CO., TX PROSPECT
200-Acres.
FRIO PRODUCING TREND
Total Depth: 6,200 Ft. FRIO
75% Net Lease Available.
Analogous Wells Cumm’d 3.25 BCF.
Estimated IP: 1,000 MCFD & 5.0 BOPD
Potential Rsrvs: 7.0 MBO & 2.8 BCF
DHC: $495,000. Compl: 795,000.
SELLER HAS MORE INFORMATION
DV 5184
WHARTON CO., TX SALE PACKAGE
1-Property.
GULF COAST BASIN 139 MCFED
BLACK OWL FIELD
Yegua Production. ~8,150 Ft.
11.25% NonOperated WI; 8.44% NRI
Gross Production: 26 BOPD & 1,494 MCFD
Net Production: 139 MCFED
Avg Net Cash Flow: $38,803/Mn
PP 4246AU
WHARTON CO., TX OFFERING
1-Property.
BLACK OWL FIELD 28 MCFED
Yegua Production. ~8,150 Ft.
1.69% ORRI For Sale.
Gross Production: 26 BOPD & 1,494 MCFD
Net Production: 28 MCFED
Avg Net Cash Flow: $7,600/mn
RR 4247AU
EAST TEXAS
BOWIE CO., TX PROSPECT
>2,500-Acres.
EAST TEXAS DV/ETX
Upper Smackover Objective. 9,300 Ft.
Lease Block Has Structural Features to
- Produce Several Long Lasting Prolific Wells
SubSurface, Gravity/Magnetic Maps Show
- Strike Slip Faulting/Hydrocarbon Entrap.
100% OPERATED WI; 75% NRI (Negotiable)
Estimated IP: 90 BCPD & ~3.0 MMCFD
Some Bowie Co Wells: Producing >20 Yrs
Est Reserves: 3.0 MMBC & 10.9 BCF
Prospect Includes 5-Yr Paid Up Leases.
DETAILED PACKAGE DATA AVAILABLE
— SELLER HAS ASKING PRICE
DV 3878
CHEROKEE CO., TX PROSPECT
2,010-Gross & 1,925-Net Acres.
COTTON VALLEY 3-6 BCF
Haynesville Shale. 13,000 Ft.
100% Working Interest Available.
Est Reserves: 3.0-6.0 BCFG/Well
DHC: $704,500; Compl: $693,000
— Deepens Existing Well To Haynesville.
OPERATOR HAS MORE DETAILS
DV 5924
CHEROKEE CO., TX PROJECT
10,000-Acres. 1-ReEntry. 1-New Well.
Targeting Travis Peak & Cotton Valley.
Proposed Depth: 13,400 Ft.
Seller Will Deliver 79.3% NRI.
Analogue Production: 210 BCF
Est Well Reserves: 3.0 BCF
G&G Costs: $250,000 3.0 BCF/WELL
Total Land Cost: $2,876,480
DV 5687
DALLAS CO., TX MINERALS
18.5-Gross/Net Acres.
BARNETT SHALE LEASE
Benjamin F Smith A-1377
100% MINERAL INTEREST FOR LEASE
L 3669M
EAST TEXAS LEASEHOLD
2-Counties. 1,425-Net Leasehold Acres.
HAYNESVILLE SHALE POSITION
Multiple Target Potential.
SHELBY COUNTY:
— 746.5 Net Acres. ETX LEASE
— 3 Years + 2 Year Option
NACOGDOCHES COUNTY:
— 680 Net Acres.
— 3 Years + 2 Year Option
100% OPERATED WI; 75% NRI
Surrounded By Large Independents.
Seller Has Set Asking Price.
CALL PLS FOR DATA PACKAGE
DV 5753L
EAST TEXAS LEASES
~5,915-Net Mineral Acres. ETX LEASE
SABINE & SAN AUGUSTINE CO.
Primary Objective: Haynesville Shale
Secondary Objective: James Lime
Acreage Is Available For Lease.
CALL PLS TO LEARN MORE
L 5771
EAST TEXAS MIDSTREAM ASSETS
2-Systems.
HARRISON & LIMESTONE CO.
FREESTONE SYSTEM -
— 36 Miles Of Gathering System.
— Exposure To Haynesville Development.
— On Bossier / Cotton Valley Trend.
— 34.2 MMCFD Of ThroughPut
DARCO SYSTEM - MIDSTREAM
— 10 Miles Of Gathering System
— 6.8 MMCFD Of ThroughPut
Both Systems Have 2 Sales Points.
AGENT WANTS OFFERS MARCH 17
PL 6479
EAST TEXAS MINERAL RIGHTS
~22,000-Gross & ~17,000-Net Acres.
JASPER, SAN AUGUSTINE,
& ANGELINA CO.
Deep Rights - Below Base Austin Chalk.
Prolific Haynesville Area. DEEP RIGHTS
Eagle Ford Shale Potential.
MINERALS FOR SALE OR FARMOUT
Most Of Acreage Is HBP.
OPERATOR HAS DETAILS
M 5903
EAST TEXAS PROPERTY
36-Wells.
NACOGDOCHES & SHELBY CO.
Travis Peak Production With Upside.
46% WI Available; 34% NRI
Net Production: 3.0 MMCFD 3.0 MMCFD
Net Cash Flow: $350,000/Mn
AGENT WANTS OFFERS APRIL 2009
PP 5263
EAST TEXAS PROSPECT OFFERING
50-Potential Wells. ~8,000-Acres.
SABINE & ST. AUGUSTINE CO.
Haynesville & James Lime Targets.
Defined By SubSurface Geology. >1.0 TCF
50%+ WI Available; ~37.5%+ NRI
Est Reserves/Well: ~8.0 BCF
Est Reserves/Project: >1.0 TCF
EXPLORATIONIST HAS SHOWING
DV 5280
FREESTONE CO., TX LEASEHOLD
>900-Acres For Lease.
EAST TEXAS LEASE
Surrounded By Production.
AGENT CONTACT INFO PROVIDED
L 5366
FREESTONE CO., TX PROSPECT
2-Potential Wells.
Cotton Valley Targets Identified.
Generated With SubSurface Geology.
100% OPERATED WI; 75% NRI
Est Reserves/Well: 1.5 BCF 3.0 BCF
Est Reserves/Project: 3.0 BCF
LAND DEPT HAS MORE DATA
DV 5716
• admiral Bay Resources
reached its previously stated goal of
4.0 MMCFD of gross sales from its
Kansas projects. Admiral installed three
electric compressors and is adding
new third-party gas production in its
Shiloh project. Admiral has also com-
pleted the expansion of its gathering
system and connected 15 new wells
to sales at its Mound Valley project.
Admiral has also completed three
wells in its Devon/Ft. Scott project
and is adding additional third-party
gas production.
• ameriwest Energy received a
permit to drill the Ameriwest Fee #1
well at the Geary prospect in Wyoming.
The target location is offset to two wells
in the Geary Dome field in the Powder
River Basin. Objectives include the
Dakota sandstone and the Upper and
Lower Muddy, and Wall Creek (Fron-
tier) sands.
• approach Resources
increased proved reserves to 211.1
BCFe at y/e 2008, up 17% from 2007.
Reserves consisted of
45.9 BCFe in the Cinco
Terry field (up 150%), 144.4 BCFe at
Ozona Northeast in West Texas and
20.8 BCFe at the North Bald Prairie
field in East Texas.
• atlas Energy Resources
grew its net proved reserves to 1,001
BCFe last year, up from 897 BCFe at
the end of 2007. This growth is
primarily attributable to activity
in the Appalachian Basin
where proved reserves grew 63% to
374 BCFe. Atlas replaced 607% of its
production last year, entirely through
the drill bit. Atlas has also booked
627.2 BCFe on its acreage in Michigan
and Indiana.
• aztec oil & gas participated in
the West Powell #1 well in Goliad Co.,
Texas. The well is producing 200
MMCFD into a Duke Energy gathering
system. Estimated reserves are 300 to
500 MMCF. Aztec and its operator
Resaca Resources have identified
three locations that are direct analogs
of the West Powell #1. These wells
will be drilled in the near future.
• Basic Earth science systems
and operating partner Panther Energy
drilled their second well on Basic’s
Banks prospect (6.5% WI) in McKenzie
Co., North Dakota. The Roscoe #2H-8
horizontal Bakken well reached 16,000
ft. TD (11,252 ft. TVD). In Montana,
Basic and a 50% partner may drill a
vertical Red River test on the South
Flat Lake prospect. The well is
expected to cost $1.35 million to drill.
• Basic Energy services
added one newbuild rig and retired
one rig in January, leaving its well serv-
icing rig count at 414 at the end of the
month. Rig hours for the month were
49,300, for a rig utilization rate of
49%, down from 51% in December
and 71% in January 2008. Drilling rig
days for January 2009 were 123, for
a rig utilization of 44%, a decrease
from 66% in the prior month and 64%
in the year ago month.
E&P Briefs
Prospect Available
BIENVILLE PH., LA PROSPECT
1-Well. 536-Acres.
NORTH LOUISIANA SALT BASIN
Obj 1: James Reef. 7,500 Ft.
Obj 2: Haynesville Shale. 15,000 Ft.
Obj 3: Smackover Reef. 16,000 Ft.
2-D Seismic & SubSurface Geology.
100% OPERATED WI; 75% NRI
Est Well Reserves: Up To 50 BCF
Dry Hole: $1,589,750; Compl: $239,800
SELLER HAS SHOWING AVAILABLE
DV 2222L
For more informaton on
this package contact PLS
at 713-650-1212.
Bearkat energy, LLC
Phone: 281-681-4315
5 Grogan’s Park Dr., Suite 200
The Woodlands, TX 77380
www.bearkatenergy.com
EAST TEXAS MULTIPLE LISTINGS FOR SALE
HARRISON & MARION CO., TX LEASES
1,510-Mineral Acres For Lease.
HAYNESVILLE SHALE TREND MINERALS
Majority Of Acreage Covers All Depths—
— Some Limited To Below Cotton Valley.
Seller Will Deliver 75% NRI.
CALL SELLER FOR ADDITIONAL DATA
M 5609L
HARRISON CO., TX ACREAGE
5,200-Gross Acres.
HAYNESVILLE
Vertical Haynesville Test. HAYNESVILLE
Acreage Is A Contiguous Block.
Seller Will Deliver 75% NRI.
SEEKING POTENTIAL JV PARTNER
95% Of Block Is Held By Production.
LAND DEPT HAS MORE DETAILS
DV 5473
HARRISON CO., TX MINERALS
~1,484-Gross Acres. ~468-Net Acres.
HAYNESVILLE SHALE
12-Properties. LEASE
Very Active Area: Bossier-Haynesville Play.
Unleased Mineral Interest Available.
M 3389L
HARRISON CO., TX SWD SERVICE
Commercial SWD & Trucking Business.
HAYNESVILLE / COTTON VALLEY
4-SWD Facilities Available.
20-Water Hauling Tractor/Trailers. SERVICE
AGENT HAS MORE DETAILS
SWD 5085
HAYNESVILLE ACREAGE
14,747-Gross, 5,400-Net Mineral Acres.
FANNIN & LAMAR COUNTIES
LEASE/SALE
MINERALS FOR LEASE OR SALE
Multiple Pipelines Transverse Acreage.
OWNER/SELLER SEEKING OFFERS
RR 3926M
HILL CO., TX PROSPECT
~3,000-Acres.
Prolific Barnett Shale Position. >3,000 ACRES
CALL PRINCIPAL FOR MORE INFO
DV 5711
LIBERTY CO., TX PROSPECT
153-Acres.
Targeting Cook Mountain Fan Sand.
Proposed Total Depth: 14,300 Ft.
100% Working Interest Available. 15 BCF
Est Upside Reserves: 15 BCF
CONTACT HOUSTON SELLER
DV 5669
LIMESTONE CO., TX DISPOSAL
11-Pit Permits. 53-Acres. PERMITS
For Water-Based Drilling Muds/Fluids.
Add’l 670-Acres Available (50% Minerals).
CALL AUSTIN AGENT FOR INFO
SWD 5092
LIMESTONE CO., TX DISPOSAL WELL
1-SWD.
EAST TEXAS
Commercial Salt Water Disposal Facility.
Permitted For 12,000 bls/d.
100% OPERATED WI AVAILABLE
Monthly Oil Sales: 180 MBO SWTX/SWD
Monthly Skim Oil: 300 BO
Net Cash Flow: $50,000/Mn
SWD 3965
LIMESTONE CO., TX FACILITY
1-Commercial SWD Facility (Active).
Recent Casing & Tube WorkOver.
2-Water Hauling Tractor/Trailers.
Current Flow: ~4,666 BPD SWD FACILITY
Avg Net Cash Flow: $45,000/Mn
CALL AUSTIN AGENT FOR INFO
SWD 5094
MILAM CO., TX PROSPECT
4,833-Gross & 4,417-Net Acres.
Buckner/Bossier/Cotton Valley Sands
& Knowles Limestone Play.
Offsets XTO #1 Voelkel Cotton Valley—
— & Knowles Discovery. ETX/DV
Seller Will Deliver 75% NRI.
SELLER HAS MORE INFO TO REVIEW
DV 5461
NACOGDOCHES & RUSK CO., TX
4,796-Acres Available. Farmout.
HAYNESVILLE SHALE PLAY HAYNESVILLE
COTTON VALLEY LIME
Formation Depth: 10,400-11,400 Ft.
100% OPERATED WI. Negotiable Farmout
Area Wells/Initial Volumes: 5-10 MMCFeD
Well Reserves: 5-7 BCFe/80 Acre Spacing
Haynesville Produces 37-45 BCFE/Section.
Total Recoverable Rsrvs: 277-337 BCFE
EXPLORATIONIST HAS MORE INFO
DV 5181
Lasserdata.com
Quality Oil and Gas Production Data Online
FREE TRIAL - A $300 Value!
Call 1.800.489.DATA for more information.
PANOLA & RUSK CO., TX ACREAGE
14 Units. >4,000 Net Deep Acres.
CARTHAGE AND MINDEN FIELDS
HAYNESVILLE SHALE OPPORTUNITY
— Majority HBP Acreage
TRADE/SELL
100% OPERATED WI; 75% NRI
Seller Looking To Trade/Sell Deep Rights.
CONTACT PLS FOR INTRODUCTION
L 4518
PANOLA CO., TX LEASEHOLD
HAYNESVILLE SHALE
330+ Acres. HAYNESVILLE
Unit Has Offset Haynesville Production.
Acreage Is In North-South Configuration.
CALL PLS FOR SELLER CONTACT
DV 5664
PANOLA CO., TX SWD PERMITS
East Texas Disposal.
TEXAS/LOUISIANA BORDER
Prolific Haynesville Shale Play. SWD PERMIT
Active Drilling/Production In Area.
Current Flow: 5,000 BPD
CONTACT AGENT FOR DETAILS
SWD 5091
REEVES CO., TX PROJECT
3-Prospects. 3,000-Net Acres.
DEEP DELAWARE BASIN 295+ BCF
Wolfcamp, Barnett & Woodford Shale,
Pennsylvanian, & Fractured Devonian
On-Site Salt Water Disposal System
On-Site Gas Gathering System
100% WI Available; 75% NRI
~13 BCF PDP Wolfcamp Production.
Est Reserves: 295+ BCF
Based On Decline Curve & Volumetrics
CALL PLS FOR ADDITIONAL DETAILS
DV 5268
RUSK & PANOLA CO., TX MINERALS
2,600-Acres.
MINERAL LEASE FOR SALE MINERALS
Seller Will Deliver 75% NRI.
CONTACT SELLER TO LEARN MORE
L 5547
RUSK CO., TX OVERRIDE SALE
60-Wells. 30-Gas Units. 19,791.68-Acres.
MINDEN FIELD
Bossier, Cotton Valley, Haynesville
& Travis Peak. ETX ORRI
AGENT HAS MORE INFO
RR 5154
SHELBY CO., TX LEASEHOLD
470-Acres.
DEEP HAYNESVILLE RIGHTS
Unit Is Presently HBP. HAYNESVILLE
OUTRIGHT SALE OF DEEP RIGHTS—
— OR CARRIED INTEREST IN WELL
Gathering System In Place.
SELLER HAS MORE DETAILS
L 5724PL
UPSHUR CO., TX PROSPECT
5-Potential Wells. 700-Acres.
Obj 1: Bossier Sand. 11,500 Ft.
Obj 2: Cotton Valley Lime. 12,000 Ft.
Generated With GeoPhysics.
75% OPERATED WI; 78% NRI 10 BCF
Est Reserves/Well: 1.0-3.0 BCF
Est Reserves/Project: 10 BCF
EXPLORATION MGR HAS DETAILS
DV 5722
UPSHUR, GREGG & SMITH CO., TX
496-Wells. 50,000-Gross & 28,000-Net Ac.
COTTON VALLEY TREND
GLADWATER & OVERTON FIELD
90%-Acreage Held By Production.
Cotton Valley Horizontals; Untapped BHP.
98% OPERATED WI For Sale.
Net Production: 24 MMCFED HORIZONTAL
Net Cash Flow: $6,985,000/Mn
CONTACT AGENT FOR UPDATE
PP 3797HZ
WOOD CO., TX PROSPECT
1-Drilling Prospect.
Rodessa, Kirkland, Goyd, & Hill Gas.
Also Targeting Sub-Clarksville Oil.
Proposed Depth: 8,500 Ft. (TD) >1.3 BCFE
100% Working Interest For Sale.
Est Reserves: 20 MBO & 1.2 BCF
CALL AGENT TO LEARN MORE
DV 5077
WOOD CO., TX PROSPECT
241-Acres.
Obj 1: Paluxy A Formation >1.5 MMBO
Obj 2: Paluxy B Formation
Proposed Depth: 7,000 Ft.
Seller Will Deliver 77% NRI. 25% BIAPO.
Anticipated Rsrvs: 1,537.5 MBO
SELLER HAS MORE INFORMATION
DV 5225
PLS Sells Properties
dv
www.adairlandleasing.com
Experience
Unparalleled
Service
–Listings For Sale
PAGE 9 PROSPECTS & PROPERTIES
WEST TEXAS
ANDREWS CO., TX PROPERTY
447-Wells. 14,316-Gross Acres.
PERMIAN BASIN
Grayburg - San Andres Oil & Gas.
Depths Range: 4,000-4,800 Ft.
>200-PUD Locations Identified. 2,750 BOED
Optimization Opportunities.
Avg 97% OPERATED WI; Avg 75% NRI
Net Production: 2,750 BOED
Net Cash Flow: $3,200,000/Mn
Est Proved Reserves: 20.7 MMBOE
Net PV10 (Proved): $352,000,000
AGENT WANTS OFFERS EARLY APRIL
PP 5345DV
ANDREWS CO., TX PROSPECT
8-Potential Wells. 160-Acres.
Western Edge - Basin Platform.
Obj 1: Devonian. 8,300 Ft.
Obj 2: Yates. 2,800 Ft. >1.0 MMBOE
3-D Seismic & SubSurface Geology.
75% OPERATED WI; 72% NRI
Est Rsrvs/Well: 200 MBO & 333 MMCF
Est Rsrvs/Proj: 800 MBO & 1.3 BCF
DHC: $900,000; Compl: $600,000
SELLER HAS MORE DATA
DV 5174
BREWSTER CO., TX PROSPECT
>100,000-Acres.
DIABLO PLATFORM BARNETT
Barnett & Woodford Shale Targets.
Located In Front Of Marathon Uplift.
Significant Gas Shows Encountered.
Regional 3-D Seismic Ran Over Area.
SEEKING OPERATOR FOR—
—DRILLING AND NEW SEISMIC
CONTACT GEOLOGIST FOR SHOWING
DV 5269
CROCKETT CO., TX PROSPECT
4-Leases.
VAUGHN FIELD ~7.4 MMBO
Obj 1: San Andreas Formation
Obj 2: Grayburg & Queen Formations
HUGE DEVELOPMENT OPPORTUNITY
Est Proved Reserves: ~7.4 MMBO
3rd Party Engineering Report.
CONTACT SELLER TO LEARN MORE
DV 5355
CROCKETT CO., TX PROSPECT
20,000-Acres. DV/3D
Queen, San Andres, & Wolfcamp Targets.
Pinnacle BuildUp Multi-Pay Opportunity.
Available 3-D Seismic Data.
CONTACT GENERATOR FOR DETAILS
DV 5576
DAWSON CO., TX ACREAGE
8,200 (+/-) Contiguous Acres.
RESOURCE DEVELOPMENT PLAY
Spraberry Trend Production: North/South
Surrounded by Silurian & Devonian
— To Test ReEntry Potential. LEASES
Spraberry & Wolfcamp Development Trend
— ReEntry Candidates Possible.
100% Leasehold Interest, 75% NRI
All Depths and Rights - No Depth Release
— Provisions in Leases.
MultiZone Potential: Clearfork, Spraberry
— Gin Sand, Wolfcamp, Strawn, Devonian
— Fusselman, and Ellenburger
Long Lease Expiration Dates—
3-Year Leases with 2-Year Options.
L 3958DV
DAWSON CO., TX PROSPECT
297-Acres.
DEAN TREND 70+ MBO
Sprayberry/Sprayberry Dean Objectives.
Targeting All Depths.
Defined By SubSurface Geology.
90% OPERATED WI; 75% NRI
FOR FARMOUT TO QUALIFIED BUYER
Est Reserves: 70+ MBO
DHC: $790,000; Compl: $410,000
CALL SELLER FOR DETAILS
DV 5518
DICKENS CO., TX PROSPECT
20-Potential Wells. 837-Acres.
EASTERN SHELF 75 MBO/WELL
Obj 1: Croton Lime. 4,800 Ft.
Obj 2: Tannehill Lime. 4,850 Ft.
Defined By SubSurface Geology.
100% OPERATED WI; 78% NRI
Est Reserves/Well: ~75 MBO
DHC: $645,000; Compl: $320,000
CONTACT SELLER FOR MORE INFO
DV 6440
EASTERN SHELF DEVELOPMENT
4,888-Acres.
9-PDP. 3-PDBP. 28-PUD.
PERMIAN BASIN
>72 MMBOE
Horizontal ReDevelopment Play.
Depths: ~4,500 Ft.; Laterals: ~2,700 Ft.
MultiPay Wells w/ 6 Productive Zones.
Significant Well Control. Low Risk.
100% OPERATED WI; 78% NRI
LOOKING FOR NON-OP WI PARTNER
Est Well Reserves: 72 MMBO & 76 MMCF
DV 5495
DATA LIBRARY WITH A DIFFERENCE
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shot in the most promising regions of the United States and Canada. The US key areas
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Rick Trevino
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Exxon’s resource base grows to 72 BBoE
Exxon Mobil Corp. added 1.5 BBOE of proved reserves in 2008, replac-
ing 103% of production, and taking its year end tally to 22.8 BBOE (62%
proved developed). Excluding asset sales, reserves
additions replaced 110% of production. Exxon has
now replaced an average of 110% of production over the last 10 years.
Reserve additions in 2008 reflect both new developments and exten-
sions of existing fields. Most of the additions, or 1.1 BBOE, came from
the Kearl Phase 1 oil sands project in Canada.
Including 2P reserves and discovered resources that are expected to be
recovered, ExxonMobil added net 300 MMBOE to its “resource base” in
2008, taking the total to 72.4 BBOE. In addition to Canada, key addi-
tions came from onshore U.S., the deepwater GOM and West Africa.
williams opts not to split
will allocate more funds to midstream
Williams Cos. has concluded its strategic review and opted not to split
its upstream and midstream segments into two separate businesses due eco-
nomic uncertainty. But the company will increase midstream spending 10%
from $600 million in 2008, with pipeline outlays jumping
by as much as 60%. Upstream spending, however, will
decrease 60% from $2.5 billion in 2008.
Williams also lowered its 2009 capex from as much as $3.1 billion, down
to ~$2.3 billion, significantly lower than $3.59 billion in 2008. Cash flow
is expected to decline from $3.36 billion last year to as little as $1.9 billion
this year. Still, Williams has $1.35 billion of cash on hand and $2.34 billion
of available credit capacity with which to fund its capex.
The company’s unaudited net income was ~$1.42 billion last year, up
from $990 million in 2007. Williams’ E&P business reported profit of $1.26
billion for 2008, up 67% from 2007, despite posting a net loss of $27 mil-
lion in the fourth quarter.
Drilling in the Piceance, Powder River and Fort Worth basins grew
domestic volumes 20% to 1,144 MMCFeD in 2008, with Piceance volumes
up 20% to 650 MMCFeD and Powder River Basin up 34% to 228
MMCFeD. Williams is reducing its Piceance rig count to 10 this year. For
more news on Williams, see our Market Alert dated March 02, 2009.
marathon’s proved reserves fell last year
Marathon Oil’s proved reserves fell in 2008 to 1,195 MMBOE (76% proved devel-
oped), compared to 1,225 MMBOE at y/e 2007. Marathon added reserves of 110 MMBOE
through the drill bit, offset by asset sales of 3.0 MMBOE and production of
137 MMBOE. Marathon’s total risked resource base is now 6.5 BBOE.
Since 2006, Marathon has added proved reserves of 344 MMBOE, but has
also sold 48 MMBOE and produced 396 MMBOE, resulting in a reserve replacement of
87%. This total excludes 388 MMB of bitumen reserves in the Canadian oil sands busi-
ness acquired in 2007.
whiting plans 40 Bakken wells at sanish
Whiting Petroleum’s continuing activity in its core Bakken (Sanish and Parshall) play
and CO2 floods at Postle (Oklahoma) and North Ward Estes (Texas) drove Q4 2008 vol-
umes to a company record 55,540 BOEPD, up 10% from the third quarter.
Last quarter net Bakken production rose 43% sequentially to 15,300
BOEPD, while production from the two CO2 projects increased 8.2% to
13,310 BOEPD. Bakken volumes are split evenly between Whiting’s operated
Sanish field and the EOG-operated Parshall field.
At Sanish, Whiting recently completed the Niemitalo 11-35H at 3,547 BOEPD and its
first Three Forks horizontal, the Braaflat 21-11TFH, at 1,005 BOEPD. Whiting intends
to drill an additional 40 operated Bakken wells (70% WI) at Sanish in 2009.
Whiting’s proved reserves fell from 250.9 MMBOE to 239.1 MMBOE during 2008.
New reserves of 23.6 MMBOE in the Bakken and 5.7 MMBOE at the CO2 floods were
offset by negative price revisions of 39 MMBOE.
Since last fall, Whiting has lowered its operated rig count from 18 drilling rigs and 51
workover rigs down to four drilling rigs and 25 workover rigs. Whiting’s E&D capex
budget is $474 million this year, all funded with cash flow.
BP seeks offshore farm-ins
BP is making some of its operated offshore Gulf of Mexico blocks available for farm-
ins before it begins drilling them this year. On the shelf, the British super major said it
hoped to farm out the shallow rights and to retain its deep gas rights. BP is also
gauging interest in its deepwater rights.
Specific leases available for farm-in on the shelf include High Island, West
and East Cameron, Vermilion, South Marsh Island, Eugene Island, Ship Shoal, South
Timbalier, Grand Isle, and West Delta areas. Most tracts do not expire until at least 2010.
search
& seek
access
www.plsx.com.
–Listings For Sale
PAGE 10 MARCH, 2009
GLASSCOCK CO., TX PROSPECT
4+-Drillable Locations. 900-Acres.
Targeting Wolfcamp Formation.
Proposed Depth: 7,900 Ft. WTX/DV
Est Reserves: 600 MBOE
CONTACT GENERATOR FOR DETAILS
DV 5577
HOCKLEY & LAMB CO., TX NONOP
WEST TEXAS
ANTON CLEARFORK NONOPERATED
Additional Drilling Opportunities.
NonOperated Working Interest Available.
Various Net Revenue Interest.
Operator: Patriot Resources, Inc
CONTACT AGENT TO LEARN MORE
DV 3667
HOCKLEY CO., TX PROSPECT
41-Potential Wells. 1,255-Net Acres.
NORTHWEST TEXAS AREA
Strawn Formation. 10,000 Ft.
Wolfcamp. 8,500 Ft. ~7.0 MMBO
Clearfork. 6,200 Ft.
3-D Seismic. SubSurface Geology.
75% OPERATED WI; Avg 72% NRI
Total 2P Reserves: ~7.0 MMBO
Dry Hole: $1,800,000; Compl: $800,000
ASK SELLER FOR PASSWORD
— TO ONLINE DATA ROOM
DV 5149
HUDSPETH CO., TX PROSPECT
200-Wells. 34,000-Acres.
DELAWARE AREA ~500 BCF
Obj 1: Barnett Shale. 3,000 Ft.
Obj 2: Woodford Shale. 3,500 Ft.
SubSurface Geology & GeoChemistry.
100% OPERATED WI; 75% NRI
Est Reserves/Well: ~4.0 BCF
Est Reserves/Project: ~500 BCF
DHC: $500,000; Compl Cost: $200,000
DV 5323
KING CO., TX PROPERTY
6-Oil Wells.
BEE WRIGHT
Producing From Tannehill Sand.
Secondary Recovery Potential.
Field Limits Not Defined. 20 BOPD
100% OPERATED WI; 75% NRI
Gross Production: 20 BOPD
Offset Locations Identified.
SELLER HAS MORE DETAILS
PP 6441DV
LOVING CO., TX PROSPECT
WEST TEXAS
Target is 19,000 TD Feed. DV/WTX
100% OPERATED WI; 76% NRI
READY TO DRILL
AGENT PROVIDING ADD’L DATA
DV 3970
MIDLAND CO., TX LEASE SALE
80-Potential Wells.
~3,500-Net Acres. WOLFBERRY
WOLFBERRY TREND
Spraberry / Wolfcamp. 8,000-10,000 Ft.
Devonian Formation. 12,000 Ft.
Resource Play. Development Drilling.
Defined By SubSurface Geology.
100% OPERATED WI; 77% NRI
Leases Expire: March 2010
L 5754DV
PECOS & REEVES CO., TX PKG
4-Wells. 1-ShutIn.
1-SWD. 3,193-Acres.
WEST TEXAS PP/DV/WTX
2,549-Acres HBP & 644-Acres Leased.
Behind Pipe Shows: Delaware, Atoka,
Cherry Canyon, Bone Springs, Wolfcamp
Prolific Horizontal Devonian/Montoya
— Production on Trend. All Depth Rights.
100% OPERATED WI: ~80%-87% NRI
Net Production: ~950 MCFD
On Trend w/ Woodford & Barnett Production.
Net Cash Flow: ~$61,000/Mn
Cumulative Vertical Prod: ~10 BCF
Cumulative Horizontal Prod: ~2.4 BCF
All Depth Rights.
TEXAS AGENT PROVIDING DATA
PP 3909DV
PECOS CO., TX PROSPECT
Up to 6-Wells. 1-Show Well. 1,200-Acres.
CHENOT FIELD. FORT STOCKTON
Primary Zone: Granite Wash Fault Trap
Also Targeting Wichita-Albany & Wolfcamp
All Zones < 6,500 Ft. TD
25% Working Interest Available.
Well Tested At 1.0 MMCFD In 1986. 25 BCF
Planned Drill Date: May 2009
Est Reserves: 25 BCF
Total Well Cost: $1,703,900
CONTACT GEOLOGIST FOR DETAILS
DV 5271
REEVES & WARD CO., TX PROSECT
~6,000-Gross & ~10,000-Net Acres.
DELAWARE BASIN
Permo-Penn/Atoka: ~16,000 Ft.
Wolfcamp: Up To 15,000 Ft. TX GAS
Seller Will Deliver 75% NRI.
Obj 1: 300 BCF: 7 BCF Gas/Well
Obj 2: 50 BCF: 2 BCF Gas/Well
CONTACT PROSPECT GENERATOR
DV 5857
REEVES & WARD CO., TX PROSPECT
9,000-Gross & 4,000-Net Acres.
DELAWARE BASIN TX/DV
Third Bone Spring Sands. ~10,500 Ft.
Deeper Wolfcamp & Atoka Potential.
Seller Will Deliver 75% NRI.
Reservoir Has Cumm’d >10 MMBOE.
Est Reserves/Section: 2.0 MMBO
CONTACT SELLER FOR MORE INFO
DV 5860
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WEST TEXAS & PERMIAN BASIN BUSINESS OPPORTUNITIES
List with PLS – Phone: 713-650-1212 or Fax: 713-658-1922
Experienced.
Capable.
Knowledgeable.
Flexible.
Ready To Work.
Five States Energy Capital
works with independent
producers to acquire,
develop, exploit, and
service producing properties.
For more information:
capitalinfo@fivestates.com
www.firstenergycapital.com
214.560.2584
FIVE STATES
ENERGY CAPITAL, LLC
REEVES CO., TX PROSPECT
4-Proposed Wells.
PERMIAN. WOLFCAMP FIELD
Wolfcamp Target. 10,900-11,600 Ft.
3-D Seismic Data Available. 20 BCF
75% Working Interest For Sale.
Est Well Reserves: 5.0 BCF
Est Project Reserves: 20 BCF
ASK SELLER FOR PASSWORD
— TO ONLINE DATA ROOM
DV 3637
REEVES CO., TX PROSPECT
4,585-Acres. 1-Well. 29-Anticipated.
Obj 1: 3rd Bone Spring. 10,500 Ft. (TD)
Obj 2: Delaware, Atoka, Barnett Shale.
75% Working Interest Available.
IPF: 406 BOPD, 667 MCFGDP, 217 BWPD
Est Dry Hole Cost: $20,000,000
CALL LANDMAN FOR DETAILS MULTIZONE
DV 5686
SCURRY CO., TX PROSPECT
~400-Acres.
Active Horizontal Play In Area. 900 MBO
56.25% Working Interest; 77.5% NRI
Est Reserves: 900 MBO
DHC: $1,552,000; Compl: $950,500
CALL SELLER FOR MORE DETAILS
DV 5519
STERLING CO., TX PROSPECT
5-Locations Identified.
WEST TEXAS WTX/DV/3D
Multiple Pay Zones.
3-D Seismic Data Available.
Est Reserves: >600 MBO
ADDITIONAL DATA AVAILABLE
DV 3777
TOM GREEN CO., TX PROSPECT
750-Acres.
ABSTRACT A-8296. Eastern Shelf WTX/DV
Obj 1: Ellenburger Formation. 5,400 Ft.
Obj 2: Harkey Sands. 4,400 Ft.
2-D Seismic Data, Geology, Well Control.
100% OPERATED WI; 75% NRI
GENERATOR HAS MORE DETAILS
DV 5708
WEST TEXAS PROSPECT SALE
San Andres Target.
SEEKING JOINT VENTURE PARTNERS
Up to 6.0 MMBO In Reserves. ~6.0 MMBO
CALL SELLER TO LEARN MORE
DV 4127
YOAKUM CO., TX PROSPECT
820-Acres.
MULTIPLE LOCATIONS 500 MBO
5,400 Ft. San Andres Extension.
Est Reserves: 500 MBO
CONTACT GENERATOR FOR DETAILS
DV 5640
YOAKUM CO., TX PROSPECT
640-Acres.
MULTIPLE LOCATIONS
Targeting San Andres Extension.
Proposed Depth: 5,200 Ft. 250 MBO
Est Reserves: 250 MBO
CONTACT GENERATOR FOR DETAILS
DV 5578
NORTH TEXAS
ARCHER CO., TX MINERALS
258-Acres.
Gunsight Sands Target. MINERALS
Mississippi Zone. Depth: 1,200 Ft
MINERAL LEASE
Seller Will Deliver 80% NRI.
CONTACT SELLER TO LEARN MORE
M 5546L
ARCHER CO., TX PROPERTY
6-Producers. 2-SWD.
NORTH TEXAS AREA DV/OIL
GUNSIGHT SAND. ~1,200 Ft.
+320 Acres w/ 28 Additional Drill Locations.
100% OPERATED WI; 80% NRI
Net Production: 3.3 BOPD
Shallow Production: 3 Sands. ~1,200 Ft.
Net Cash Flow: ~$14,000/Mn
Est Reserves/Project: >100-150 MBO
CALL PLS FOR MORE INFORMATION
PP 4115DV
BARNETT SHALE CARRIED WI
21-Immediate Wells. 2,400-Net Acres.
NEWARK EAST FIELD (JOE POOL)
East Northeast Mansfield Area.
Barnett Shale Target. 8,000 - 8,500 Ft.
47 Total Wells On 50-Acre Spacing. NEW PKG
Area IP’s Range 3.0-7.0 MMCFED.
Est Gross Reserves: 3.0-5.0 BCF/Well
Net Reserves (21 Wells): 9.0 - 15.0 BCF
Net PV10 Value (21 Wells): $12,000,000
DV 5160
–Listings For Sale
PAGE 11 PROSPECTS & PROPERTIES
NORTH TEXAS
CALLAHAN CO., TX PROSPECT
>500-Acres.
EXTENSION OF PROVEN WELL
Targeting Cross-Plains Sand. 1,800 Ft.
Excellent Well Control.
Nearby Well Made 85 BOPD. NTX/DV
Offset Wells Cummd: 140 MBO
Nearby Fields: 508 MBO-1.8 MMBO
SUBJECT TO PRIOR SALE
CONTACT DALLAS GEOLOGIST
DV 5931
COOKE CO., TX DISPOSAL
1-Producing Well. 1-Pending Permit.
80,000 Barrels Per Month Injection.
100 Barrels Per Month Skim Oil. DISPOSAL
Net Cash Flow: $40,000/Mn
Currently Only Operating 12-Hour Days.
SWD 5076
COOKE CO., TX SALE PACKAGE
2-Wells. 245-Acres.
S. OKLAHOMA FOLDED BELT BASIN
NEWARK EAST FIELD
Barnett Shale Production 12 BOED
12.5% ORRI For Sale.
Gross Production: 56 BOPD & 218 MCFD
Net Production: 12 BOED
Avg Net Cash Flow: $8,799/Mn
AUCTION ENDS MARCH 24, 2009
RR 4241AU
CORYELL CO., TX DEVELOPMENT
5-ShutIn. 1,066-Acres.
TOGA FIELD
Obj 1: Cisco Strawn. 900 Ft. DEVELOP
Obj 2: Scully Strawn. 1,800 Ft.
Gas Contractor Commits Full Capacity.
Deeper Potential Identified.
100% OPERATED WI; ~75% NRI
Additional Acreage Available.
Total Proved Rsrvs: ~11.4 BCFE
Net PV10 Value: $68,000,000+
CONTACT SELLER FOR DETAILS
DV 5837
EASTLAND & BROWN CO., TX SALE
EASTLAND & BROWN CO., TX SALE
2-Wells.
Mississippian Duffer Limestone. 3,200 Ft.
Strong Mud Log Shows. Logged Pay.
80% WI Available; 77% NRI NTX/DV
Estimated IP: 4.0 BOPD & 250 MCFD
Est Reserves: 20 MBC & 600 MMCF
Total Est Completion: $346,300
CALL SELLER TO LEARN MORE
DV 5616
EASTLAND CO., TX FARMOUT
180-Acres To FarmOut.
CrossCut Sands Target. 990-1,075 Ft.
Marble Falls Potential. 3,100-3,330 Ft.
Acreage Has Proven Geology. NTX/FO
SEEKING DRILLING PARTNERS
Significant Shallow Resource Play.
SELLER HAS MORE INFO AVAILABLE
FO 5740
FISHER CO., TX PROSPECT
534-Acres.
Obj 1: Wolfcampian Flippen Sands
Obj 2: Virgilian Cook Sands NTX/DV
Est Depths: 4,000-6,000 Ft.
Strawn/Ellenburger Potential Identified.
Analogous Fields Cumm’d >2.0 MMBO
— PLUS Significant Gas.
CALL GENERATOR FOR SHOWING
DV 5384
GRAY CO., TX PROSPECT
1,316-Gross Acres.
MultiZone Potential.
Un-Drilled, Fault-Bounded Horst Block.
2-D Seismic Data & Geology.
READY TO DRILL NTX/DV
75% Working Interest Available.
Offset Tested 10.9 MMCFD.
Est Reserves: 1.6-3.0 BCF Per Well
CONTACT SELLER FOR SHOWING
DV 5332
HOOD CO., TX PROSPECT
437-Contiguous Acres. TX/DV
Seismic Data & Detailed Well Logs.
Full Production Infrastructure in Place.
Seller Will Deliver 76% NRI.
NEW 3 Year Term Lease.
CONTACT PRINCIPAL FOR MORE INFO
DV 5211
JACK CO., TX PROSPECT
100-Acres.
Seller Will Deliver 75% NRI. DV/LEASE
2 Year Lease Term.
CONTACT PLS FOR PRICING
DV 5143
NORTH TEXAS
JACK CO., TX PROSPECT
233-Acres.
ABSTRACT 1560 & 2102
Located On Barnett Shale Trend. BARNETT
Seller Will Deliver 76% NRI.
One Year Lease Term Remaining.
ESTABLISHED PRICE PER ACRE
DV 5661
JOHNSON CO., TX DISPOSAL
1-Commercial SWD Permit.
Active Barnett Shale Drilling In Area.
Disposal Is Pad Built.
3-Acres Of Land Sold w/ Permit. TX/SWD
Permitted For 25,000 BPD.
CALL AGENT TO LEARN MORE
SWD 5082
JOHNSON CO., TX PROSPECT
135-Acres.
CLEBURNE AREA BARNETT HZ
Horizontal Barnett Shale Objective.
Depth: 7,000 Ft. (TVD); 10,000+ Ft. (MD)
95% OPERATED WI; 75% NRI
Est Well Reserves: 2.0 - 4.0 BCF
Est Well Cost: $2,000,000
PROSPECT GENERATOR HAS INFO
DV 5292HZ
JOHNSON CO., TX SWD FACILITY
1-SWD Facility. ~5.5-Acres.
ACTIVE BARNETT AREA
Current Flow: 18,000-19,000 BPD
Permitted For 25,000 BPD. BARNETT SWD
Established Customer Base.
CONTACT AUSTIN AGENT
SWD 5084
LIPSCOMB CO., TX PROSPECT
1,872-Net Acres.
FRASS (MORROW) FIELD
Established ReDevelopment Prospect.
Lower Morrow A Sand Target. ~8,900 Ft.
Fracture Target Formation. ~7.5 BCF
Compelling Wellbore Pressure.
97.5% OPERATED WI; 78% NRI
Analogous Wells Flow 100-250 MCFD.
Est Reserves: ~7.5 BCF
AGENT WANTS OFFERS MARCH 16
DV 6451
MONTAGUE CO., TX DISPOSAL WELL
1-Operating Commercial SWD.
Strawn Formation. 3,960-4,220 Ft.
100% OPERATED WI TX SWD
Complete System Includes:
2 Injection Pumps. 4,000 Bbl Tankage
Disposal Rate: 6,500 BWPD
Net Revenue: $70,000+/Mn
ENGINEER PROVIDING DETAILS
SWD 5490
MONTAGUE CO., TX PROSPECTS
3-Prospects.
MUENSTER ARCH
Spanish Fort Area
Upper/Lower Penn Hoxbar Targets.
Basal Pennsylvanian Potential.
Ellenburger Detrital/Dolomite Potential.
3-D Seismic & SubSurface Mapping.
Seller Will Deliver 75% NRI.
Shallow Depths: <4,000 Ft. SHALLOW GAS
Oil Trend Has Cumm’d 250 MMBO.
PLS-PROSPECT CENTRE PACKAGE
DV 5992
NORTH TEXAS PROPERTIES
5-Wells. 3-ShutIn. 1,080-Leasehold Acres.
CALLAHAN & SCURRY CO. DEEP RIGHTS
Fanous-Finley: All Rights, All Depths
+ 4 PUD. 4-Additional Drill Sites (640-Ac).
North Snyder: Rights Below ~2,200 Ft.
+ 3 PUD. 4-7 Additional Drill Sites (440-Ac)
100% OPERATED WI; ~80% NRI
Net Production: ~36 BOPD & 101 MCFD
Net Cash Flow: $167,522/Mn
Fanous-Finley Reserves: 100-300 MBO/Well
DETAILED PACKAGE AVAILABLE
AGENT HANDLING NEGOTIATED SALE
PP 3579DV
NORTH TEXAS PROSPECT SALE
3-Proposed Wells. 200-Acres.
JACK & PALO PINTO CO.
Horizontal Opportunity On 2 Wells.
Targeting Barnett Shale.
Proposed Depth: 5,900 Ft. >20 BCF
Geology, Geophysics, & Well Control.
UpHole Potential Identified.
75% NonOperated WI; 56.25% NRI
First Well Completed.
Est Reserves/Well: 2.0 BCF
Est Reserves/Project: 20 - 25 BCF
CONTACT TEXAS GENERATOR
DV 5727
PALO PINTO CO., TX PKG
4-PDP. 12-PDBP. 1-SWD.
BEND ARCH 272 MCFED
STRAWN, POSIDIAN, NEWARK, E FIELDS
Marble Falls, Ellenburger, Bend Conglomerate,
Barnett Shale, Duffer Production
100% OPERATED WI; 75% NRI
Gross Production: 8 BOPD & 315 MCFD
Net Production: 272 MCFED
Avg Revenue: $40,000 - $45,000/Mn
Net Proved Reserves: 25 MBO & 4,175 MMCF
3rd Party Engineering Available.
CONTACT PLS FOR SALE PACKAGE
PP 4236
NORTH TEXAS
PALO PINTO CO., TX PROPERTY
4,600-Contiguous Acres.
PARKER BORDER 170 MCFD
Producing Gas From Strawn Formation.
UnDeveloped Newark East Acreage.
Barnett Shale Potential - Offset Nearby.
Seller Will Deliver High NRI.
Net Production: 170 MCFD
EXPLORATION SELLER HAS DETAILS
PP 5766DV
PALO PINTO CO., TX PROSPECT
160-Acres.
FORT WORTH BASIN
Obj 1: Barnett Shale. 4,800 Ft.
Obj 2: Conglomerate. 3,500 Ft. ~1.5 BCF
Excellent MultiZone Potential.
Defined w/ SubSurface Geology.
87.5% OPERATED WI; 77% NRI
Est Reserves/Well: ~1.5 BCF
DHC: $350,000; Compl: $200,000
PROSPECT GENERATOR HAS INFO
DV 6477
PARKER CO., TX PROSPECT
120-Contiguous Acres.
ABSTRACTS 2201 & 2189
Prolific Barnett Shale Area. BARNETT
Seller Will Deliver 76% NRI.
2 Year Term Lease.
DV 5871
PARKER CO., TX RE-ENTRY PROJECT
1-ShutIn Well. ~69.4 Acres.
FT. WORTH BASIN
Previously Caddo Conglomerate PayZone.
Now Targeting Lower Barnett Shale.
Several Additional Potential PayZones.
QUICK PAYOUT - 11 MONTHS
100% OPERATED WI For Sale. RE-ENTRY
Estimated IP: 1,000 MCFD
Offsets 7,000 MCFD Devon Well.
Minimal Drilling Costs.
CONTACT PLS FOR MORE DETAILS
DV 5322RE
PARKER CO., TX OFFERING
100-Contiguous Acres.
ABSTRACTS 2242, 2038, & 1814
Seller Will Deliver 76% NRI. NTX/DV
6 Month Lease Term Remaining.
CALL PRINCIPAL FOR INFO
DV 5481
TARRANT CO., TX LEASE
7.5-Net Acres.
BARNETT SHALE PLAY MINERALS
Fay A-530 Abstract.
50% MINERAL INTEREST AVAILABLE
L 3609M
TARRANT CO., TX NONOP PKG
2-3 Permits. 600-Net Acres.
BARNETT SHALE NONOPERATED
NEWARK EAST FIELD
Small NonOperated WI For Sale.
CONTACT PLS FOR DATA
DV 5200PP
TARRANT CO., TX OVERRIDE
3-Wells. 107-Net Acres.
NEWARK EAST ORRI
Barnett Shale/Conglomerate Depth.
Production from 6,526 Ft. and 7,486 Ft.
2% ORRI Available.
Gross Production: 18,662 MCFD
Net Production: 373 MCFD
Net Cash Flow: $3,753/Mn
ADDITIONAL DRILLING POTENTIAL
RR 5437
TARRANT CO., TX PROSPECT
1-Proposed Well, Possibly 2. 85-Acres.
BARNETT SHALE
Targets At 8,000 Ft. BARNETT
Immediate Drilling Opportunity.
100% Working Interest Available.
Est Reserves: 3.0 - 5.0 BCF
CONTACT SELLER FOR MORE INFO
DV 5294
WHEELER CO., TX PROSPECT
14,700+-Gross Acres.
Targeting Granite Wash, Misener, Hunton.
Proposed Total Depth: 12,600 Ft.
Various Forms Of Trap Type.
3-D Seismic & Well Data. >145 BCFE
83.3% Working Interest Available.
Est Reserves: 145-245 BCFE
CONTACT SELLER FOR SHOWING
DV 5331
WICHITA CO., TX PROPERTY
38-Wells. 379-Acres.
3.5 Mi East Of Electra NTX/PP/DV
Producing Oil From 725-1,725 Ft.
18 Wells Need ReWork/Tubing/Rods.
4 Drilling Sites Established.
100% OPERATED WI; 72%-75% NRI
Net Production: 18 BOPD
Net Cash Flow: $20,000/Mn
SELLER HAS ADDITIONAL DETAILS
PP 4429DV
WISE CO., TX DEVELOPMENT
5-Development Wells. ~240-Net Mineral Ac.
BARNETT SHALE
BARNETT
Seller Will Deliver 75% NRI.
CONTACT PROSPECT GENERATOR
DV 5854
us upstream deal value slides 22%
appeared in marketalert Vol. 20 issue 5, mar 24, 2009
U.S. M&A upstream transaction value declined to $38.1 billion from
$48.7 billion in 2007, according to the 2009 Global Upstream M&A Review
prepared by IHS Herold and Harrison Lovegrove & Co. To gain additional
insight on these results and what may be on the horizon for upstream trans-
actions, PLS recently caught up with Tom Biracree, SVP and Senior
Financial Editor, with IHS Herold. He shared his thoughts on the future of
corporate consolidation; how certain deals managed to close late last year;
and what it will take to make the pace of upstream M&A healthy again.
march sale results mirror the times; values off
by two-thirds
appeared in Prospectcentre Vol. 20 issue 9, mar 20, 2009
The Minerals Management Service’s Central Gulf of Mexico Lease Sale
garnered $703 million in high bids, and $933.6 million in total bids. The sale
was held on March 17 in New Orleans, and saw the highest bid submitted by
Shell at $65.6 million for Mississippi Canyon Block 721, a deepwater tract.
Total high bids were expected to and indeed did fall from those in the 2007
and 2008 sales, which netted $2.9 billion and $3.7 billion, respectively.
onshore, Brigham sets lower capex, lays down rigs
appeared in Prospectcentre Vol. 20 issue 9, mar 20, 2009
Brigham Exploration has budgeted $37.1 million for the first half of this
year to complete several of its Bakken wells drilled in the Williston Basin late
last year. The company will also hook up recent Southern
Louisiana wells to production, but will only drill and complete one
well, which will be along the Gulf Coast. First quarter production is expected
to average between 30 and 33 MMCFeD.
moody’s mood is up on williams
appeared in marketalert Vol. 20 issue 3, mar 02, 2009
Analysts may be disappointed, but Moody’s Investors Service was glad to
see the Williams Family stay together, revising its outlook to “stable” from
“negative.” The company is one of many that have decided breaking up is
hard to do during turbulent economic times. It’s a major decision to disman-
tle a successful “three-legged stool” under normal market conditions; and
almost impossible to do when commodity prices and the credit crunch have
energy segments-namely E&P segments-under pressure.
Exxon maintains spending plans despite
weak environment
appeared in Prospectcentre Vol. 20 issue 8 mar 11, 2009
Unlike most of its peers, ExxonMobil is maintaining its plans to spend
between $25 billion and $30 billion per year for the next five years, the com-
pany confirmed at its annual analyst meeting. Although
CEO Rex Tillerson admitted that prices could be soft
for years to come or at least until demand recovers – the major said it would
conduct “business as usual” and continue its long-term focus.
devon cuts capex 50%, but still borrows to spend
appeared in marketalert, Vol. 20 issue 2 Feb 17, 2009
In a classic “good news, bad news” announcement, Devon Energy’s “year
end report” took the market by surprise. Although 2008 was one of the best
in Devon’s history, ceiling test writedowns of $7.1 billion drove
the bottom line to a $6.8 billion loss. Under these circumstances,
some management teams might blink, but Devon’s ignored the adjustment
and moved on, announcing a bold $4.1 billion capex for 2009, including a
billion dollars of borrowing to get there. Unfortunately, the $4.1 billion of
capex won't buy them growth, just flat production.
Jockeying for mindshare
appeared in Prospectcentre, Vol. 20 issue 10 mar 26, 2009
There were new semantics this year as operators jockeyed for mindshare,
much the way crabs prevent each other from getting out of the same bucket.
EOG Resources has always been good for a concept du jour. After all,
it was just three years ago CEO Mark Papa teased Howard Weil atten-
dees with news of its Stealth Play, then refused to say where, hinting
that investors should tune in during Q2 earnings for the Big Reveal. Only the
Big Reveal never came. Also, speaking of crabs crawling out of a bucket,
operators had discomforting ways of differentiating their companies by
implicitly criticizing peers.
letter from new orleans
appeared in Prospectcentre, Vol. 20 issue 10 mar 26, 2009
It’s an annual financial rite of spring. For 37 years now, the investor class
has converged on New Orleans post spring break for the Howard Weil
Energy Conference, the Grand Dame of energy investor gatherings. Maybe
it's New Orleans, maybe it's spring, maybe it's just the end of the first quar-
ter, but whatever It is, Howard Weil has been a market mover for energy equi-
ties in more years than not. It's called the Howard Weil Effect. We'll see if
there is any old time magic this year. Despite the dismal news in the energy
business, attendance reached a record high.
suncor and Petrocan to merge in $19 billion deal
appeared in marketalert, Vol. 20 issue 5 mar 24, 2009
Suncor Energy and Petro-Canada shook up the oil patch with a C$19.6 bil-
lion merger announcement that would create the biggest energy company in
Canada. The deal, structured as a share exchange, would leave Suncor holding
60% of the merged company, with PetroCan holding 40%. The companies said
the deal represents a 25% premium to the 30-day average of PCZ shares. This
mega-deal is the largest deal in the global oil and gas industry since 2006.
US upstream deal value slides 22%
Corporate transactions decline to a five-year low
U.S. M&A upstream transaction value declined to $38.1 billion from $48.7
billion in 2007, according to the 2009 Global Upstream M&A Review prepared by
IHS Herold and Harrison Lovegrove & Co.
While the number of transactions in the US set a record pace dur-
ing the first half of 2008, the credit crunch, a weakened economy and
falling commodity prices con-
tributed to the decline in transactions
during the rest of the year. According to
the review, more than 90 transactions
were announced through July. However,
in the remaining five months of 2008,
only 25 deals took place. The deal
count dropped to a record low in 4Q,
historically one of the most active quar-
ters for US upstream M&A.
Corporate consolidation was also
very limited for the second straight
year, as Stone Energy’s cash and stock
takeover of Bois d’Arc Energy was the
only significant corporate merger
between two US publicly traded compa-
nies. Asset transaction value declined more than $10 billion, or 25%, from the
record high in 2007, although it still reached the second highest level in 10
years. However, the US still accounted for 37% of worldwide deal value, its high-
est percentage since 2004.
Meanwhile, weighted average proved reserves implied deal value soared to
$19.11/BOE in the second quarter and then dropped sharply in the second half
along with commodity prices. The average deal pricing for 2008 was a record
$16.56/BOE due to the stronger performance during the first-half of the year.
According to the review, shale gas
deals made up more than 35% of US
deal value last year. Gas represented
more than 70% of acquired proven
reserves for the third consecutive year,
and the average reserve life of acquired properties (15 years) was the longest in
the history of the study.
Independent Chesapeake Energy sold more than $12 billion of US assets
during 2008 (including forward sale VPP transactions) which include sales of
interests in producing properties and leasehold to form JVs with StatoilHydro
(Marcellus), Plains E&P (Haynesville) and BP (Fayetteville and Woodford). Fellow
public independent XTO spent more than $8 billion on nine US transactions,
including the $4.2 billion acquisition of Hunt Petroleum.
To gain additional insight on these results and what may be on the horizon for
upstream transactions, PLS recently caught up with Tom Biracree, SVP and Senior
Financial Editor, with IHS Herold. He shared his thoughts on the future of corporate
consolidation; how certain deals managed to close late last year; and what it will
take to make the pace of upstream M&A healthy again.
TEXAS
DIMMIT CO., TX PROSPECT
20 To 25-Potential Wells. 2,340-Acres.
Obj 1: Eagleford Shale. 7,500 Ft.
Obj 2: Pearsall. 11,500 Ft. EAGLEFORD
On Trend With Recent Discoveries.
100% OPERATED WI; 75% NRI
Est Reserves/Well: 3.0-4.0 BCFE
CONTACT AGENT FOR DETAILS
DV 5244
FRIO CO., TX PROSPECT OFFERING
1-Proposed Well. 325-Acres.
Obj 1: Edwards Lime. 4,200 Ft.
Obj 2: Detrital Reef. 3,140 Ft.
SubSurface Geology. Great Well Control. STX
2-Additional Locations Identified. DV
90% NonOperated WI; 75% NRI
Est Reserves/Well: 144 MBO & 72 MMCF
Est Reserves/Proj: 500 MBO & 250 MMCF
DV 6463
www.plsx.com
Tueday, March 24, 2009 | Volume 20, No. 5
MARKETALERT
Serving the Property & Prospect Marketplace with Opportunities, News & Insight
A&D
1. 2008USM&Aupstreamdeal value
drops to $38.1Bfrom$48.7B
2. >90 transactions were announced
through July 2008
3. In the remaining five months of
2008, only 25 deals took place
4. No US corporate transactions
were announced in 4Q2008
5. US still accounted for 37%of
worldwide deal value--highest %
`since 2004
6. Average deal pricing for 2008 was
a record $16.56/ppboe/g
7. Stone/Bois d’Arc merger was the
only significant one US
QuickLook
Chesapeake sold >$12 billion of US
assets during 2008 & XTO spent >$8
billion on nine US transactions.
Deal count dropped to a record low in
4Q, historically an active quarter for US
upstream M&A.
CONTINUES on page 3 Opportunity driven.
patriotexploration.com
Suncor and PetroCan
merge in $19 billion deal
At press time, Suncor Energy and
Petro-Canada shook up the oil patch
with a C$19.6 billion merger announce-
ment that would create
the biggest energy com-
pany in Canada. The
deal, structured as a share exchange,
would leave Suncor holding 60% of the
merged company, with PetroCan holding
40%. The companies said the deal rep-
resents a 25% premium to the 30-day
average of PCZ shares.
This mega-deal is the largest deal in
the global oil and gas industry since 2006.
On the announcement, Petro-
Canada shares jumped 29% to $31.00
in premarket trading, gaining back much
of the 31% drop incurred during the last
12 months. Suncor shares fell $0.29 to
$25.00. At press time, PCZ traded at
$30.28, rebounding from a 52-week
low of $15.82, but still off from its 52-
week high of $62.78 last summer.
Could this be the deal that kick
starts M&A in the oil patch? Read the
details on this deal and what it could
mean for the E&P landscape in our
upcoming Canadian Market Alert.
Your Information Platform—For News, Insight, Price Metrics & Deal Flow
Call PLS at (713) 650-1212 to subscribe today or access www.plsx.comfor more information.
Market
Alerts
& Special Reports
www.plsx.com
PROSPECTCENTRE
Serving the Property & Prospect Marketplace with Opportunities, News & Insight Exxon ma|nta|ns spend|ng p|ans desp|te weak env|ronment
Rapid expansion in Piceance targets 1.0 BCFD Unlike most of its peers, ExxonMobil is maintaining its plans to spend
between $25 billion and $30 billion per year for the next five years, the company confirmed at its annual analyst meeting. Although CEO Rex Tillerson admitted that prices could be soft for years
to come or at least until demand recovers – the major said it would conduct
“business as usual” and continue its long-term focus. Last year, Exxon’s total capital expenditures totaled $26 billion ($19.7 billion upstream), while net income reached a record $45.2 billion and cash flow topped $60 billion. Exxon expects to grow production 2-3% this year to
about 4.0 MMBOEPD, compared to 3.9 MMBOEPD in 2008. Longer term, the company hopes to add another 1.5 MMBOEPD by 2015, although this goal is contingent upon other compa- nies’ spending plans, said Mark Albers, head of Exxon’s upstream business.
Production started at eight major projects in 2008, which at their peak are expected to add net volumes of 260,000 BOEPD. Start ups included
the deepwater Thunder Horse platform in the Gulf of Mexico and other offshore
projects such as Qatar II Train 4, Mondo, East Area NGL II, Saxi/Batuque,
Jerneh, Volve and ACG Phase II. A further nine major projects are expected to com-
mence production in 2009, adding another 485,000 BOEPD. One of those projects
is in the U.S. Rockies – Piceance Phase I in Colorado, which should produce 200
MMCFeD, according to consultants Bentek Energy.
Wednesday, March 11, 2009 | Volume 20, No. 8
E&P
CONTINUES on page 3
1. For Exxon |ts bus|ness as usua|I Br|ng|ng on 9 projects 2. We|| pos|t|oned w/strong cash & |ow debt 3. 12% budget |ncrease desp|te market cond|t|ons 4. P|ans $25-$30 b||||on capex per year over next f|ve years 5. Targets 3.0% vo|ume growth 6. P|ceance Phase I shou|d ramp up to 200 MMCFD 7. Target|ng 1.0 BCFeD |n the P|ceance 8. Exxon's cash f|ow topped $60 b||||on 9. Net |ncome h|t record $45.2 b||||on |n 2008 10. Proved reserves top 22.8 BBOE
QuickLook
Business as usual, says the major.
Like every politically-correct super conglomerate – Exxon's first two power point slides were on safety and the environment. Its record earnings came third.
SOUTH TEXAS - RRC 1, 2 & 4 ARAN8A8 60., TX PR08PE6T 1-P(oposed we||s. 9ê0-Ac(es. C0PAN0 8AY 0oj 1: F(|o 3ards. 9.000 Fl. TX/0V/30 0oj 2: Arora||ra. 13.000 Fl. A(ea las P(o||l|c 0eep P(oducl|or. 30-50 3ra||oW 3ards P(ospecl|ve. 3-0 3e|sr|c & A\0 Corl|(ral|or. 50º 0PERATE0 wl: Z3º-Z5º NRl Esl Rese(ves/we||: 25 - 50 8CF Esl Rese(ves/P(ojecl: 100 - 200 8CF CALL EN0lNEER F0R V0RE lNF0 0V 5928
SOUTHEAST TEXAS - RRC 3 HATAC0R0A 60., TX PR08PE6T 3.ê15-0(oss Ac(es. 3AR0ENT 30uTl FlEL0 0eeper|rd 0l 1ê.000 Fl. Cased lo|e ÷ ÷ 0u|l No. 1 lar||| & lar|||. l|dr 0ua||lv 2-0 3e|sr|c 0ala. SE TEXAS Z5º wo(||rd lrle(esl Ava||ao|e. Esl Rese(ves © 50 Fl: 18Z.5 8CF Esl Rese(ves © 100 Fl: 3Z5 8CF C0NTACT PR03PECT 0ENERAT0R 0V 5893
Anadarko announces Tweneboa d|scovery Integrated oil major Anadarko Petroleum announced its Tweneboa-1 discovery well offshore Ghana encoun- tered 70 feet of net pay. The well discovered a light hydrocarbon accumulation in similar-age sands as the nearby, but separate, Jubilee field.
“Anadarko keeps finding hundreds of millions of barrels worldwide,” wrote analysts at Tudor Pickering & Holt. “The street is thinking 500 MMBOE predrill, but more work is needed to understand the field size,” the analysts added. Appraisal is planned in the second half of the year. The Tweneboa-1 well, on the deep- water Tano License, was drilled, logged and cased to a depth of 11,790 ft., and is being deepened to further assess additional pay zones. CONTINUES on page 2
"Anadarko keeps f/nd/ng hµndreds of m////ons of barre/s wor/dw/de."
$K
15
12
9
6
3
0
Value of $1,000 invested
20 Years 10 Years 5 Years
ExxonMobil Competitor Average* S&P 500
Exxon continues to outperform the market and its peers Shareholder returns
*RDS, CVX and BP
*RDS, CVX and BP
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North Texas
Ark-La-Tex Edition
Available!
888-622-9943
www.donsdirectory.com
We pay cash for overrides and royalties.
nobleroyalties.com
Noble Royalties, Inc.
order your Back issues
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–Listings For Sale
PAGE 12 MARCH, 2009
SOUTH LOUISIANA
ASSUMPTION PH., LA OFFERING
340-Acres.
Upper To Middle Miocene (6) Sands.
Proposed Depth: 11,840 Ft.
3-D Seismic Available. >18 BCFE
Trap Type: Faulted Anticline
75% WI Available; 74% NRI
LOW-RISK OPPORTUNITY
Est Well Rsrvs: 932 MBC & ~12.5 BCF
Includes PUD Reserves Of 7.25 BCFE.
DHC: $2,600,000; Compl: $1,400,000
DV 5723
ASSUMPTION PH., LA PROSPECT
~500-Acres.
Prolific Field - Shallow Stacked Pays.
Four Shallower Secondary Targets.
Proposed Total Depth: 13,900 Ft.
4-Way Anticlinal Closure. SLA/DV
Defined By 3-D Seismic.
SEEKING PARTNERS TO DRILL
~125 Ft. High To 100 Ft. Thick Sand.
Est Reserves: 50 BCF Plus Condensate
GEOLOGIST HAS MORE INFO
DV 5553
ASSUMPTION PH., LA PROJECT
~558-Acres.
NORTHWEST OAKLEY FIELD SLA/DV/3D
Targeting Lower Miocene Of Robulus L.
Subsurface Data & 3-D Seismic Available.
Total Est Reserves: ~763 MBO & 1.41 BCF
Total Est Dryhole Cost: $3,586,500
CONTACT PROSPECT GENERATOR
DV 5666
BATON ROGUE PH., LA PROSPECT
2,220-Acres.
IRENE AND PORT HUDSON FIELD
5 Lower Tuscaloosa Sand Targets.
3-D Seismic Available. >146 BCFE
Total Reserves: 146.9 BCFE
DHC: ~$3,841,000; Compl: ~$1,994,000
DV 5897
CAMERON PH., LA PROSPECT
Obj 1: Siph Davisi Formation
Obj 2: Siph Davisi 2; Plaulina 1, 2, & 3
Depth: 11,800 Ft. (MD), 10,600 Ft. (TVD)
Three-Way And Four-Way Closures.
Seller Will Deliver 70% NRI. ~12.4 BCFE
Estimated IP: 150 BCPD & 3.0 MMCFD
Total Reserves: 480 MBC & 9.6 BCF
Total Completion Cost: ~$980,000
DV 5851
E. BATON ROUGE PH., LA PROSPECT
No-Pipe Frio Test. 200-Acres.
ALSEN FIELD FRIO TEST
Targeting 1st Frio Sand. 7,800 Ft.
Total Reserve Estimate: 3.23 BCFE
Seller Terms Upon Request.
Drilling Cost: $525,000; Compl: $345,000
DV 5176
EAST BATON ROUGE PH., LA
2-Wells. 2,090-Acres.
IRENE FIELD >220 BCFE
Targeting Tuscaloosa Sands A & G.
Proposed Depths: 18,300 Ft. & 20,300 Ft.
3-D Seismic Available.
Est Total Reserves:~227.2 BCFE
DHC: $1,898,000; Compl: $2,142,000
DHC: $9,011,100; Compl: $3,260,900
SELLER HAS MORE DETAILS
DV 5873
EAST BATON ROUGE PH., LA
IRENE FIELD
Upper Frio Sand Target. 5.0 BCFE
Target Zone is 8,300 Feet.
3-D Seismic Available.
Analogous Well Produced 16.7 MBO.
Est Total Reserves: 5.0 BCFE
DHC:~$530,000; Compl:~$360,000.
DV 5872
EAST BATON ROUGE PH., LA OFFER
~10-Potential Wells. 6,480-Contiguous Acres.
GULF COAST EMBAYMENT
Tuscaloosa Objective. 17,700 Ft. 480 BCFE
2-D Seismic, SubSurface, Petrophysical.
100% Working Interest; 75% NRI
Est Reserves/Well: 30-48 BCFE
Est Reserves/Project: 300-480 BCFE
Completion Cost: $4,000,000
SELLER HAS MORE INFO TO REVIEW
DV 5606
IBERVILLE PH., LA PROSPECT
1,200-Acres.
Targeting Cib Haz, Marg Tex, Bol Mex,
Nonion Struma, Nod Blan. 14,500 Ft. (TD)
3D Seismic Data Available.
Prospect Is On Fault Trap. 100 BCFE
Seller Will Deliver 71.5% NRI.
Est Reserves: 100 BCFE
Dry Hole Cost: $4,500,000
CONTACT GENERATOR FOR DETAILS
DV 5575
JEFFERSON PH., LA PROSPECT
1,947-Acres.
BAY DE CHENE
Middle Miocene Targets. 18,000 Ft. (TVD)
Located On Three-Way Closure Trap.
Defined By A Proprietory 3-D PSDM.
1,500 Ft Of Structural Closing.
75% WI Available; 73.25% NRI SLA/DV
Potential Rsrvs: 45-200 BCFE
Prospect Holds Considerable Potential.
DHC: $10,345,000. Compl: $4,428,233
SELLER HAS MORE INFO
DV 5610
SOUTH LOUISIANA
LAFOURCHE PH., LA PROPERTIES
4-Wells. 669-Acres.
LONG LAKE FIELD >4.0 MMCFED
Producing Miocene Oil & Gas.
Several Behind Pipe Zones.
2-Drilling Locations Identified.
Avg 80.5% WI; Avg 60.4% NRI
Net Production: 75 BOPD & 3,693 MCFD
Net Cash Flow: $572,000/Mn
Net Proved Rsrvs: 174 MBO & 2.57 BCF
Net PV10 (Proved) Value: $18,000,000
Comprehensive Data Package Available.
CONTACT BURKS FOR MORE INFO
PP 5828DV
LAFOURCHE PH., LA PROSPECT
700-Acres.
Targeting Rob 43 Sand. SLA/DV
READY TO DRILL
100% OPERATED WI; 75% NRI
AGENT HAS MORE DATA AVAILABLE
DV 5156
LINCOLN PH., LA PROSPECT
911-Gross Acres.
Targeting Cotton Valley Davis Sands.
Proposed Depth: 9,500 Ft.
Seller Will Deliver 73% NRI. >9.0 BCFE
Est Total Reserves: 200 MBC & 8.0 BCF
Dry Hole Cost: $1,400,000
CONTACT SELLER TO LEARN MORE
DV 5585
LIVINGSTON PH., LA PROSPECTS
60,000-Acres For Lease of Option,
GULF COAST TREND SLA/DV
Defined Wilcox Oil Prospects
— Deeper L Tuscaloosa Delta Front Sands
— Trapped On Growth Faulted Anticlines.
Reprocessed 2D Show Growth Fault Leads
— Similar To Lockhart & Livingston Fields
— Potential Of ~32 MMBO & 98 BCF
2nd Reservoir: Shallower Miocene & Frio Shore
Miocene Bright Spot Production Present
— Northern Livingston PH: Poss EUR 3.5 BCF
Complete Well Log Files.
Multiple Vintage Prospects/Interpretations.
CONTACT LAND COMPANY FOR FLYER
DV 3946L
LIVINGSTON PH., LA ROYALTY
3-Wells.
SOUTH LOUISIANA ROYALTY
ROYALTY INTEREST FOR SALE
Total Net Production: ~5.3 BOPD
Decline Curves & Financial Info Available.
Part Of A Larger Royalty Package.
SELLER CONTACT INFO PROVIDED
RR 3791
LOUISIANA EXPLORATION PROSPECTS
45,000-Net Acres. Multiple Prospects.
DownDip Tuscaloosa Trend.
Multiple Zones Targeted. LA/DV/3D
Extensive 3-D & 2-D Seismic Data.
Est Reserves: 700 BCF (Tuscaloosa Only)
CONTACT SELLER FOR MORE INFO
DV 5597
LOUISIANA PROSPECT FOR SALE
935-Acres.
IRENE FIELD 89.5 BCFE
9 Lower Tuscaloosa Sand Targets.
3-D Seismic Available.
Est Total Reserves: 89.5 BCFE
DHC: ~$3,692,000; Compl: ~$1,195,000
DV 5833
LOUISIANA SALE PACKAGE
7-Properties. 3-Parishes. 400-Net Acres.
RUSTON, PORT ALLEN, BAYOU PEROT,
MITTENS LAKE & SOUTH MITTENS LAKE
Producing From Multiple Zones.
Deep Potential & PUD Upside Identified.
Defined By 3-D Seismic Data. 189 MCFED
2.0%-11% NonOp WI; 1.1%-9.1% NRI
Net Production: 8.0 BOPD & 141 MCFD
Net Cash Flow: $24,000/Mn
Proved Rsrvs: ~57 MBO & ~692 MMCF
AGENT HAS MORE DATA FOR REVIEW
PP 5561DV
POINTE COUPEE PH., LA PROSPECT
2,791-Acres.
JUDGE DIGBY FIELD
Tuscaloosa Sands Test. 22,000 Ft. (TVD)
3-D Seismic Data Available.
Additional Prospects On Acreage. >90 BCFE
Minority Working Interest Available.
Well Spudded January 2009.
Est Reserves: 90 BCF & 592 MBO
DHC: $19,646,000; Compl: $7,224,500
CONTACT OPERATIONS MANAGER
DV 5752
SOUTH LOUISIANA SALE PKG
5-Well. 2-PDBP. 2-PUD Locations.
THREE BAYOU BAY. BAYOU POSTILLON
Miocene Objectives. 8,000 Ft -15,000 Ft.
Significant UpSide Potential. ~2,700 MCFED
3-Exploratory Wells. 2-Operated Locations.
Operated & NonOperated WI For Sale.
Total Net Prod: 17 BOPD & 2,595 MCFD
Net Cash Flow: $1,276,000/Mn
Long Life of Reserves.
BURKS HAS NEW ENGINEERING
MOTIVATED SELLER WITH NEW PRICE
SELLER WILL LOOK AT STRUCTURED
TERMS BASED - MARKET CONDITIONS
PP 8606DV
SOUTH LOUISIANA
ST. BERNARD PH., LA PROSPECT
Jurassic Cotton Valley Deltaic Sandstones.
Proposed Depth: 27,000 Ft. (TD)
Extensive 3-D Seismic Coverage.
Pipeline Located In Area. 5.0 TCF
80% Working Interest Available.
Est Reserves: Up To 5.0 TCF
CONTACT SELLER TO LEARN MORE
DV 5637
ST. CHARLES & JEFFERSON PH., LA
1-Prospect.
SOUTH LOUISIANA BARGE
Targeting Cib Op 1 & Cib Op 3.
No GeoPressure. >5.0 MMCFED
Proposed Depth: 10,500 Ft. (TVD)
3-D Seismic Data Available.
100% Working Interest; 71.5% NRI
Estimated IP: 350 BCPD & >5.0 MMCFD
Est Reserves: 2.7 MMBO & 25 BCF
DHC: $3,469,900; Compl: $1,124,500
DV 5569
ST. CHARLES PH., LA PROSPECT
Amph B, Upper Rob L, & Lower Rob L.
3-D Seismic & SubSurface Geology.
Seller Will Deliver 72.5% NRI. LA/DV/3D
Est Reserves: 2,800 MBO & 29 BCF
Dry Hole Cost: $6,352,200
DV 5572
ST. CHARLES/JEFFERSON PH., LA
835-Acres.
Targeting Cib Op Sands.
Proposed Depth: 10,500 Ft. (TVD)
Defined By 3-D Seismic Data.
Stratigraphic/Structural Trap. >30 BCFE
100% Working Interest For Sale.
Est Reserves: ~2.7 MMBO & 25.1 BCF
DHC: $3,469,900; Compl: $1,124,500
DV 5503
ST. MARTIN PH., LA PROSPECT
Marg Tex-2 Sand, Marg Tex-4 Sand.
Seller Will Deliver 72.5% NRI. SLA/DV
Est Reserves: 650 MBO (Marg Tex-2 Only)
Dry Hole Cost: $2,500,000
DV 5564
ST. MARY PH., LA PROJECT
10-Well Project. 50-Sq Miles.
SOUTH LOUISIANA MIOCENE SLA/3-D
MULTI PAY RESERVOIRS
Miocene Targets. 7,000 Ft. & 15.000 Ft.
67 Documented Pays.
Geology & Geophysics Defined
Defined By Proprietary 3-D Seismic.
25% NonOperated WI Available
LOW RISK EXPLOITATION PLAY
Generator Can Deliver 72.5%-80% NRI
DEEP EXPLORATION POTENTIAL
Well Reserves: 500 MBO & 15 BCF
Project Reserves: 78 MMBO & 430 BCF
LOW RISK EXPLOITATION
DHC: $3.0-$8.0MM; Compl: $0.75-$2.0MM
LAND MANAGER HAS DETAILS
DV 5552
ST. MARY PH., LA PROSPECT
3-Well Prospect. ±645-Acres.
PLANULINA >50 BCFE
Obj 1: Planulina 68. 14,400 Ft.
Obj 2: Planulina 69. 14,700 Ft.
3-D Seismic & SubSurface Geology.
25% NonOperated WI; 72.5% NRI
Original Well Made: 2.0 MMCFD
REDRILL OF WELL 3.25 BCF & 49 MBO
Well Reserves: 216 MBO & 14 BCF
Project Reserves: 750 MBO & 50 BCF
DHC: $6,330,000; Compl: $2,060,000
LAND MANAGER HAS MORE INFO
DV 5560RE
ST. MARY PH., LA PROSPECTS
4-Sidetrack Prospects. 3,000-Acres.
MIOCENE
Middle Miocene Targets. 10,900-11,500 Ft.
Deep Gas Exploratory Potential.
Engineered Field ReDevelopment. SLA/DV
Surface & SubSurface Geology Defined
75% NonOperated WI; 75% NRI
Proposed Sidetracks Existing SI Wells
NonPressured Objectives.
Well Reserves: ~300-750 MBO
Project Reserves: ~2.5 MMBO & ~10 BCF
Deep Potential Adds 150-200 BCF
Dry Hole: $2,000,000; Compl: $400,000
CONTACT HOUSTON LANDMAN
DV 5603
TERREBONNE PH., LA OFFERING
~342-Acres
Four Sand Targets. Above 7,500 Ft.
Updip Of San Jacinto Alba #1
Seller Will Deliver 71% NRI. >1.8 MMBOE
Target Sands Never Produced.
Est Reserves: 1,234 MBO & 3.5 BCF
Completion: $5,403,849
DV 5639
TERREBONNE PH., LA PROSPECT
Targeting Rob 5 Sands.
Proposed Test Depth: 13,030 Ft. >60 BCFE
3-D Seismic & SubSurface Geology.
Seller Will Deliver 70% NRI.
Est Reserves: 2,890 MBC & 50 BCF
Dry Hole Cost: $4,702,142
SELLER HAS OTHER LA DEALS
DV 5571
• Blast Energy services applied
its lateral fluid jetting services to two
Austin Chalk wells drilled by Reliance
Oil and Gas in South Texas. The wells
are each producing 33 BOPD and pro-
duction continues to increase. At a
depth of 2,700 ft., the Blast Rig #1
jetted a total of 20 laterals up to 90 ft.
in length at three separate depths.
The laterals were cut at 1.5 feet per
minute using water, acid and other
additives at 3,000 psi. Reliance will
now drill a seven-well project and has
received funding for an additional 18
wells in the area.
• Blaze Energy has participated
in over 100 wells in the Fayetteville
Shale play, with over 70 of those wells
on production by the end of 2008.
• Brinx Resources participated
in drilling Ranken Energy's Selman
#1-21, which reached 6842 ft. TD
and encountered pay in the Gibson
Sand and the Viola Formation. The
Oklahoma drilling program is com-
posed of four 3-D seismically defined
prospects with one explor atory well
in three of the prospects and two in
the fourth prospect.
• Bronco drilling’s utilization for
its drilling fleet was 55% in February,
down from 76% in January and 83%
for the fourth quarter. Bronco
had an average of 45 mar-
keted drilling rigs in February
compared to 45 in the previous month
and 43 for the fourth quarter. The aver-
age dayrate on operating drilling rigs as
of February 28, 2009, was $17,705
compared to $18,225 as of January 31,
2009, and $18,933 for the fourth quar-
ter of 2008.
• cano Petroleum reported sales
volumes of 1,203 BOEPD in Q4 2008,
up 10.6% from a year ago, but down
2.6% sequentially. Cano
now plans to spend $38.5
million in 2009 in order to
keep Q4 volumes flat, with
activity mainly at its Panhandle ($13
million) and Cato waterflood ($20.5
million) projects. Production at Cato
(New Mexico Permian) ramped up to
over 300 BOEPD in January.
• carrizo oil & gas reported
record year-end proved reserves of
502.6 BCFe, up 45% from y/e 2007.
Carrizo replaced 705% of
production, which rose 46%
to 70 MMCFeD last year and topped
78 MMCFeD in the fourth quarter.
Barnett Shale reserves rose 57% to
432.1 BCFe. Carrizo has 33.8 net
horizontal wells in the Barnett already
drilled but awaiting completion or
pipeline connection.
• constellation Energy Partners
produced 17.3 BCFe (~47 MMCFeD)
in 2008, completing 115 net wells and
recompleting 43 more in the
Cherokee Basin. An additional
39 net wells and recomple-
tions were in progress at year end.
Proved reserves were 232.4 BCFe at
year end, down by 70 BCFe from 2007,
due mainly to pricing revisions. Con-
stellation plans to drill as 75 wells this
year and keep annual volumes flat.
• contango oil & gas is pro -
ducing 228 (85 net) MMCFD from all
operations, with its Mary Rose #1 well
shut-in and undergoing a workover.
Contango plans to spud its Eugene
Island 56 prospect, High Country West,
in the Gulf of Mexico this quarter.
• dejour Enterprises and
Brownstone Explorations’ 2,000
acre Gibson Gulch prospect in Col-
orado is estimated to hold between
104 and 392 BCFe of prospective
resources. In addition, Dejour and
Brownstone signed a JV with Laramie
Energy II LLC, which has the right to
earn 55% on the 22,000 gross-acre
Rangely prospect by completing at
least four productive wells. Drilling is
expected in the third quarter.
E&P Briefs cnX books Eastern
shale reserves
Pittsburgh-based CNX Gas has built
a sizeable shale position in the eastern
U.S., holding a total of 630,000 net acres
in the Marcellus, Chattanooga
and Huron Shales. Altogether
these positions contain net
unrisked resource potential of 4.7-12.6
TCF. Combined with 3P reserves the
company reports total recoverable
reserves (and resources) of 7.4-15.3 TCF.
Last year, CNX booked initial proved
reserves from its Chattanooga and
Marcellus Shale plays. The company
spent $291 million on drilling last year,
adding 182.7 BCF proved from exten-
sions and discoveries, partially offset by
76.6 BCF of production, yielding a
238% reserve replacement rate.
CNX is targeting volumes of 85 BCF
for 2009, with contributions from its
CBM plays in Virginia, Moun taineer,
Nittany, Marcellus and Chattanooga
shale plays. Total proved reserves at year
end were 1,422 BCF (55% proved devel-
oped) at y/e 2008, up 6% from year-end
2007. CNX also reported an additional
1,323 BCF in probable and possible
reserves, up 41% from a year ago.
Venoco sees
production falling
Venoco lowered its 2009 capex
budget to $150 million, with $74 million
slated for the Sacramento Basin, $35
million for southern California,
and $5.0 million for Texas.
Annual volumes are expected to
fall to 19,000 BOEPD from 21,674
BOEPD in 2008.
Last year’s volumes were up 11%
from 2007, from Sacramento (9,700
BOEPD), Southern California (8,990
BOEPD) and Texas (4,103 BOEPD).
Proved reserves totaled 97.5 MMBOE at
year end. Net of production in 2008,
Venoco added 5.7 MMBOE proved in
Southern California (West Montalvo
field) and 7.8 MMBOE in the
Sacramento Basin. Reserves declined by
8.0 MMBOE, including 5.8 MMBOE
from the $200 million sale of the
Hastings field to Denbury. Venoco is
reducing its Sacramento activity from
five rigs in 2008 to three in 2009.
Patterson sees rig
count free fall
Patterson-UTI Energy rig count
declined from 276 rigs in Q3 to 132 rigs
in February, with 120 in the U.S. and 12
in Canada. Patterson was able to report
an average operating margin of $9,000
per rig last quarter, $510 higher than Q3.
Last year, Patterson activated 16 new
Apex® rigs with an average 1,375hp
and an average drilling depth capacity of
18,750 ft. During Q4, the company
retired 22 rigs averaging less than 800hp
with average depth ratings under 12,000
ft. For Patterson’s tradeoff, some of their
rigs will be drilling unconventional
and/or shale wells this year.
At year-end 2008, the company had
344 marketed drilling rigs with multi-
year contracts for the construction of 22
new advanced technology APEX® rigs.
Three of these rigs were activated in
2009, bringing Patterson’s total mar-
keted fleet to 347.
TXco considers
sale or merger
TXCO Resources has begun a
strategic alternatives review, which may
include a merger or sale. Goldman
Sachs is their financial
advisor. TXCO’s core
plays include the Maverick Basin in SW
Texas and the Forth Trinidad field in
East Texas.
Charro Energy, TXCO’s heavy oil
subsidiary, has temporarily shut-in its
SAGD pilot in the San Miguel oil sands.
The nearby fracture-assisted steamflood
technology pilot suspended operations
last December.
Last year, TXCO’s net sales volumes
rose 17.6% to 9.38 BCFe (26
MMCFeD). For 2008, the Glen Rose
Porosity had sales of 2,218 BOPD – up
15% from 2007. TXCO spudded 96
wells last year, with 30 in the Glen Rose
Porosity. TXCO currently has two rigs
targeting the George town and one to the
Pearsall formations on its core Maverick
Basin acreage. Fracing projects are
under way on one Eagle Ford well and
one Pearsall well (both 25% WI).
no commissions: call Pls To list 713-650-1212
Mid-Continent
Edition Available!
888-622-9943
www.donsdirectory.com
arena keeps its rigs
at Fuhrman-mascho
Arena Resources has released both
its contract rigs and is now has only
its two company rigs in operation. The
company said it had
hoped to begin an
aggressive develop-
ment program in New Mexico late last
year, but has since deferred this plan
until prices improve. Nevertheless, the
company continued to develop its
Fuhrman-Mascho
leases last year. In
the fourth quarter,
48 of Arena’s 54 drilled wells were at
Fuhrman, which accounted for 6,100
BOED of Arena’s total 4Q volumes of
6,985 BOEPD. Arena grew proved
reserves 18.4% last year, reaching
65.6 MMBOE (38% PDP/PDNP) and
replaced 538% of production. Total
capital for 2008 was $208.8 million.
Overall Arena drilled 221 wells at
Fuhrman, half on 10-acre spacing. The
results were comparable to 20-acre
spacing. Arena plans more 10-acre
infield wells with two pilot 5-acre
locations this year.
Arena has one rig devoted to San
Andres while also working the Yates
but the firm needs new gas pipeline
for further development. Arena plans
to drill 36 Yates gas wells before year
end 2009. Arena is also planning to
recomplete as many as 60 idle well-
bores as Yates gas wells late this year.
–Listings For Sale
PAGE 13 PROSPECTS & PROPERTIES
SOUTHWEST LOUISIANA
CAMERON PH., LA PROJECT
2-Wells. 607-Acres.
GULF COAST ONSHORE LA/DV
Obj 1: Cris A - 17b. 12,500 Ft
Obj 2: Discobis B Sand. 12,700 Ft
Obj 3: Disc B - 2 And B - 3
3-D Seismic. SubSurface Geology.
100% WI Available; 70 NRI%.
Operations Are Available.
Est Rsrvs/Well: 432 MBO & 4.2 BCF
Est Rsrvs/Project: 34.2 BCF & ~736 MBO
DHC: $1,900,000; Compl: $1,000,000
SELLER HAS OTHER PROSPECTS
DV 5188
JEFFERSON DAVIS PH., LA
233-Acre Prospect.
EAST LAKE ARTHUR FIELD >8.5 BCF
Targeting Upper Camarina Sands.
Proposed Depth: 10,900 Ft. (TVD)
Located On 4-Way Fault Closure.
Offsets Cumm’d 13 MBC & 75 MMCF.
Est Reserves: ~750 MBC & 4.2 BCF
DHC: $2,500,000; Compl: $1,500,000
CALL PLS FOR GEOLOGIST NAME
DV 5376
JEFFERSON DAVIS PH., LA PROSPECT
~270-Acres.
Targeting Camerina Sand. 13,200 Ft.
Seller Will Deliver 72% NRI. SWLA/DV
Analog Well Cumm’d: ~85 MBO & 3.6 BCF
Est Reserves: 256 MBO & 11.13 BCF
Dry Hole Cost: $3,840,000
CALL LANDMAN FOR MORE INFO
DV 5863
LAFAYETTE PH., LA PROSPECT
1-Proposed Well. 342-Acres.
NORTH MAURICE FIELD >11 BCFE/3D
Marg Tex 1 Target. 12,900 Ft.
3-D Seismic & SubSurface Geology.
25% WI For Sale; 72% NRI (Lease)
UpDip To Watered-Out Well.
Well Cumm’d 3.0 BCF & 50.8 MBC.
Est Reserves: 10.2 BCF & 174 MBC
Est IP: 8.7 MMCFD & 160 BCPD
Dry Hole: $1,430,000; Compl: $2,000,000
CONTACT AGENT FOR DATA ROOM
DV 4179
NATCHITOCHES PH., LA OVERRIDE
20,000-Gross & 1,600-Net Royalty Acres.
BLACK LAKE FIELD
Acreage Held By Production.
Rights Below Base of Pettit. OVERRIDE
Chesapeake Operates.
1.0% OVERRIDING ROYALTY INTEREST
Negotiated Transaction.
LARGE DATA PACKAGE AVAILABLE
RR 3798
RED RIVER PH., LA LEASES
175-Acres Within Section/Unit
(Acreage is Only Available Drillsite in Unit
— Encana Leases All Other Acreage)
208-Mineral Acres
(6-Miles West of Encana Wells) LEASES
655-Mineral Acres
(Under CHK Discovery Well & CHK
Wells Drilling in South Caddo Parish)
SELLER HAS ADDITIONAL INFORMATION
L 3964M
SABINE PH., LA ACREAGE
1,052-Net Acres.
HAYNESVILLE ACREAGE
Additional Acres Available.
3-Year Term on a 1/4 Royalty.
Vertical in Area Tested at 5,500 MCFD
Seller Has Asking Price Per Acre.
AGENT HAS DATA PACKAGE
DV 3659
SABINE PH., LA PROPERTIES
17-Wells. 3,476-Gross/Net Acres.
ZWOLLE FIELD 1,306 MCFED
Fredricksburg Production. 3,700 Ft.
14-Drilling Opportunities Identified.
100% OPERATED WI; 75% NRI
Net Production: 1.0 BOPD & 1,300 MCFD
Avg Net Cash Flow: $300,000/Mn
Evaluation CD-Rom Can Be Requested.
Negotiated Transaction. No CA Needed.
AGENT HAS UPDATED INFORMATION
PP 3916DV
SOUTHWEST LOUISANA PROSPECT
15,000-Acres.
BEAUREGARD & CALCASIEU PH.
Obj 1: Wilcox Formation. 15,000 Ft.
Obj 2: Cockfield, Yegua, Frio. 10,000 Ft.
3-D Seismic. SubSurface Geology.
8.5% Working Interest; 6.38% NRI ~5 BCFE
Est Reserves/Well: 2.0-5.0 BCFE
DHC: $2.0-$4.0MM; Compl: $0.6-$1.0MM
SELLER HAS MORE INFO AVAILABLE
DV 5530
SOUTH LOUISIANA
TERREBONNE PH., LA PROSPECTS
1-Potential Well.
342-Acres.
~3.6 MMBOE
Sandstone Targets. 6,800-7,200 Ft.
3-D Seismic & SubSurface Geology.
60% NonOperated WI; 71% NRI (Lease)
Est Rsrvs/Well: 1,234 MBO & 3.5 BCF
Est Rsrvs/Proj: 2,468 MBO & 7.0 BCF
DHC: $1,600,000; Compl: $1,200,000
WITH 24.25% CWI TO CASING POINT
LAND DEPT HAS MORE INFO
DV 5532
VERMILION PH., LA PROSPECT
780-Acres.
Targeting Wise, Kibbe, K-2, Duhon-2,
& Alliance. 12,150 Ft. - 14,500 Ft.
22.5% Working Interest; 75% NRI SLA/DV
Est Reserves: 2.9 MMBC & 122.5 BCF
DHC: $7,826,672; Compl: $3,335,950
CALL GEOLOGIST FOR DETAILS
DV 5864
VERMILION PH., LA OFFERING
Het 1, Het 2, Het 3, Cib Jeff 2 & Cib Jeff 3.
UpDip PUD Potential Identified.
3-D Seismic & SubSurface Geology.
Seller Will Deliver 73% NRI. >12 BCFE
Est Reserves: 550 MBC & 9.0 BCF
Dry Hole Cost: $3,694,388
SELLER HAS ADDITIONAL DATA
DV 5567
SOUTHWEST LOUISIANA
ALLEN PH., LA PROSPECT
1 To 2-Wells. ±400-Acres.
Frio Gas Targets. 4,900 Ft.
Additional Frio Prospect Available.
2-D Seismic Data For Review.
75% WI Available; 74% NRI 2.5 BCF
Operations Negotiable.
Est Reserves/Well: 2.5 BCF
Est Reserves/Proj: 2.5 BCF
DHC: $450,000; Compl: $200,000
SELLER HAS MORE INFO AVAILABLE
DV 5712
BEAUREGARD PH., LA PROPERTY
Field For Sale.
311-Developed Acres.
GORDON FIELD
14 Reservoirs. Long Life Production.
2-Producing Wells. 1-SWD. 3-PUD.
160-Undeveloped Acres. 260 MCFED
Significant Recompletion Potential.
100% OPERATED WI; 72%-74% NRI
Net Production: 15 BOPD & 170 MCFD
Proved Gross Reserves: ~5.73 BCFE
Est Probable Reserves: ~8.214 BCFE
Net Proved PV10 Value: $11,425,000
DENVER EXPLORATION COMPANY
PP 5987DV
BEAUREGARD PH., LA PROSPECT
Frio Sands, Austin Chalk, Wilcox Channel
76 Square Miles of 3-D Seismic Info.
15 Defined Amplitude Prospects. 6 BCF
2 Analogous Wells: 750 MCF Per Day.
Est Total Reserves:1.5 MBO & 6.0 BCF
CALL SELLER FOR DETAILS
DV 5847
CALCASIEU PH., LA OIL PROSPECT
Not Shown At NAPE
Up To 6 Possible Drill Sites. >14 MMBOE
Large Undrilled Yegua Structure. 15,000 Ft.
3-D Seismic Including AVO Attributes.
Key Acreage Under Lease/Options.
100% Working Interest Available.
Estimated Potential: 11 MMBO & 22 BCF
Favorable Economics At Current Prices.
CALL PLS FOR INTRO TO SELLER
DV 5829
CALCASIEU PH., LA PROSPECT
250-Acres.
Hackberry Sands. 13,600 Ft. LA/DV
Dry Land Location.
40% WI Available; 75% NRI (Lease)
Est Flow Rate: 1,000 BCPD & 2.7 MMCFD
TurnKey: $4,451,000; Compl: $1,120,000
DV 5439
CAMERON PH., LA PROSPECT
406-Acres
GULF COAST ONSHORE
Obj 1: Cris A-1. 10,200 Ft LA/DV/3D
Obj 2: Cris A-6. 10,600 Ft
3-D Seismic. SubSurface Geology.
100% WI Available. 71% NRI.
Operations Available.
Est Rsrvs/Well: ~77 MBC & 7.7 BCF
Est Rsrvs/Project: ~219 MBC & 21.87 BCF
DHC: $1,100,000. Compl: $700,000.
LOUISIANA SELLER HAS MORE INFO
DV 5582
Forest Capital Mineral
Management invites you to
explore oil & gas
development opportunities
on 265,000 acres of proven
productive land in
southwest Louisiana. To
learn more, please contact
Martha Kernohan.
Forest Capital Partners, LLC
Mineral Management
111 SW Fifth Avenue, Suite 3850
Portland, OR 97204
503.200.2730
www.forestcap.com
The Land Rig
Clearinghouse, LLC
A Fee Based Brokerage Firm Serving
the U.S. and Internatonal rig Markets
Call For drilling rig Inventory
Jon Snowgren (469) 384-3813
www.landrigclearinghouse.com | snowgren@gmail.com
stone rolls on despite rough market conditions
Stone Energy drilled two exploitation wells at Ewing Bank 305 last quarter,
bringing the total number of successful wells drilled in 2008 to four, plus three
successful workover projects. Ewing Bank 305 production more than doubled
last year to over 40 MMCFeD. Stone is now completing the
Apoc prospect at Ewing Bank.
At South Timbalier 102/110 Stone is testing the first two of
a multi-well program and at Ship Shoal 113, two wells drilled last year hit pay
but then met mechanical difficulties. Stone is now evaluating the wells for com-
merciality and possible re-drill. Both blocks were acquired in the $1.8-billion
Bois d'Arc transaction last April. Production at Mississippi Canyon 109 is still
shut in after hurricane damage.
Onshore, Stone has two wells producing
in West Virginia at a combined net rate of
250 MCFD. In January, Stone initiated a
four-well drilling program offsetting these
producing wells. In Pennsylvania, Stone recently completed a well in Clinton
County which is currently being evaluated subsequent to a production test. A sec-
ond well remains under evaluation.
Stone reported a net loss of $1.3 billion and $1.1 billion for the fourth quarter
and full year 2008, respectively, due to a pre-tax non-cash charge of $1.3 billion on
a ceiling test write-down and a $466 million non-cash impairment of goodwill.
Net volumes for 2008 averaged 175 MMCFeD, down 22% from 2007, with vol-
umes of 50 MMCFeD being lost due to Hurricanes Ike and Gustav. Stone is now
averaging 225 MMCFeD, with 35-50 MMCFeD still shut-in at Mississippi Canyon
109 (Amberjack). The oil pipeline from the Amberjack platform was damaged in
two sections and repairs should be completed
by late summer. Full year 2009 volumes
should rise to ~225 MMCFeD. Stone set a
2009 capex budget of $300 million, excluding
acquisitions, down from $403.5 million in 2008. About 75% of the budget will go
towards Gulf of Mexico exploitation.
Stone’s 2008 year-end proved reserves totaled 519 BCFe (77% proved devel-
oped), up from 403 BCFe at y/e 2007, with 252 BCFe added from Bois d’Arc.
Stone also has 186 BCFe of probable and 285 BCFe of possible reserves.
Stone has $153.9 million of available borrowings from its borrowing base of
$625 million. The base is re-determined semi-annually. “It is likely that the bor-
rowing base under our bank credit facility will be reduced in May and that the
reduction could be substantial,” said Stone CEO David Welch.
Stone reported a $1.3 billion
write-down and a $460 million
impairment to goodwill.
Ironically, offshore company
committed to Marcellus efforts.
Most of Arena’s 7,000 BOPD is
coming from Fuhrman Mascho.
chevron completes wheatstone appraisal program
Chevron Corp. completed a seven-well exploration and appraisal program
for the Wheatstone and Iago fields in northwest Australia. Chevron estimates the
fields hold enough gas to support a two-train Wheatstone LNG and domestic gas
project. Chevron announced plans to locate the Wheatstone project at
Ashburton North near Onslow in late 2008 and expects to enter front-
end engineering and design in the second half of 2009.
Discovered in 2004, the wholly owned Wheatstone field is 125 miles north of
Onslow in water depths of around 650 feet. The adjacent Iago field was discov-
ered in 2000 and spans two retention permits, one wholly owned by Chevron the
other one-third owned by Shell, with Chevron holding remainder.
The offshore northwest shelf of Australia is one of four exploration focus
areas for Chevron. During 2009, Chevron has two rigs scheduled to drill multi-
ple exploration and appraisal wells in its operated acreage there.
Offshore
access our online library to
view any past and/or present
publications offered by Pls
www.plsx.com





















March 17, 2009 • Volume 20, No. 4


ADTransactions & &
Serving the acquisition marketplace with news and opportunities.
D









Rese(ves: up To 50 8CF/we||.
3

#










B























Centenn|a| Energy Partners ca||s for GMX sa|e
Shareholder urges strategic review for East Texas independent
GMXResources continues to expand its Haynesville Bossier prospective acreage in East Texas
with contracts in place for 3,900 gross (3,700 net) acres of acquired and drill to earn leasehold rep-
resenting 49 gross (46 net) H/B horizontal locations. The company is currently drilling on 1,100
gross acres of the drill to earn leasehold. GMXR has also obtained first right of
refusal on an additional 5,000 gross acres which could add as many as 62 gross
H/B horizontal locations.
The company has reduced its 2009 capex by
$70 million to $150 million. Under this modified
budget, GMXR expects to drill fourteen and com-
plete sixteen net Haynesville Bossier horizontal wells (100%WI) including the two completions that
a




Oklahoma City independent makes
40 MMCFeD
C|marex may |ook
to acqu|s|t|ons
Says market has more
opportunities than cash
Speaking at a conference call, Cimarex CEO
F. H. Merelli said the company would constantly
adapt and adjust to the economic climate. The
company’s capital pro-
gramwill focus on three
plays, with the primary
play its Anadarko-Woodford, which will com-
p
















–Listings For Sale
PAGE 14 MARCH, 2009
ALABAMA
CHOCTAW CO., AL REDEVELOPMENT
3-Wells (1-ReEntry). 4,500-Net Acres.
SELMA CHALK
WEST GILBERTOWN FIELD PP/DV/AL
Target Formations ~2,300 Ft. to 2,700 Ft.
SWD System w/ 7,000 BWPD capacity
— Operational w/ Commercial Potential.
Significant UpSide Opportunities.
54% to 100% Working Interest; 80% NRI
Gross Production: ~30 BOPD
Potential For 750 BOPD to 1,000 BOPD
Infrastructure in Place: Future Development
Est EUR: 63 MBO Per Well
2-D Confirms Structural Interpretation.
50-Location Potential (40-Acre Spacing).
Drill & Complete: ~$1,000,000
AGENT STILL ACCEPTING OFFERS
PP 3668DV
PICKENS CO., AL PROSPECT
1-ReEntry Prospect.
UnCased Hole ReEntry. RE-ENTRY
Depth: 5,200 Ft.
Deepen 300 Ft. For Lewis Sands.
CONTACT SELLER FOR MORE INFO
DV 5493RE
MISSISSIPPI
CLARKE CO., MS PROSPECT
PUD Development Play. 140-Acres.
HARMONY SOUTH DEVELOPMENT
North And East of Nancy Fields
Obj 1: UpDip Smackover Formation
Obj 2: Norphlet Eolian Sands
Taregted Depths: 12,000 Ft.
50 Ft High To Offset Well.
100% OPERATED WI. Deliver 75% NRI.
Analogous Fields Have High Oil Cumm’s.
Offset Fields: 7.0-20 MMBO Recovery
CONTACT GENERATOR FOR INFO
DV 5386
FORREST CO., MS ROYALTY
4-Tracts. 105+ Net Royalty Acres.
PROSPECT ROYALTY
Targeting Hosston Formation.
Total Depth: 15,200 Ft. MS/RR/DV
640-Acre Unit Spacing.
Estimated IP: ~4.5 MMCFED
Estimated Payout Term: ±10 Months
SELLER HAS MORE INFO AVAILABLE
RR 6436DV
HINDS CO., MS PROSPECT
1-Proposed Test Well.
WESTERN HINDS COUNTY ~50 BCF
Obj 1: Cotton Valley Targets. ~19,000 Ft.
Obj 2: L. Cret Rodessa, Sligo, Hosston
Simple Anticline. Turtle Structure.
Est Reserves: ~50 BCF
GEOLOGIST HAS MORE DETAILS
DV 5835
MARION CO., MS PROSPECT
16,000-Net Acres.
Hosston Leads Identified.
MISSISSIPPI SALT BASIN
Hosston & Jurassic. >23 BCF
15,500 Ft. Ptd & 24,000 Ft. Ptd.
100-Miles 2D Seismic Data: Show Growth
— Fault Anticlines & Stratigraphic Traps
— Cotton Valley/Bossier Reservoir Potential
SOLICITING LEASE OFFERS FOR ACREAGE
Adjacent To Hosston Production.
Est Reserves: >23 BCF
Prolific Oil & Gas Reservoirs.
SELLER HAS DETAILED PACKAGE
DV 3719L
MISSISSIPPI DEVELOPMENT PROJECT
1-Proposed Test Well.
SMITH STATION FIELD DV/2D
HINDS & WARREN CO.
Obj 1: Cotton Valley Target. ~19,500 Ft.
Obj 2: L. Cret Rodessa, Sligo, Hosston
Simple Anticline. Turtle Structure.
Defined By 2-D Seismic Data Set.
Analog Produced ~2.0 MMCFD.
Est Reserves: ~25 BCF
CALL PLS FOR GEOLOGIST INTRO
DV 5834
MISSISSIPPI NONOP PACKAGE
16-Wells. 15,302-Gross & 3,036-Net Acres.
WARREN, JEFFERSON DAVIS
COVINGTON, & MARION COUNTIES
Mooringsport, Rodessa, Sligo, Hosston
— & Cotton Valley Production.
15-Drilling Locations Identified. NONOPERATED
Significant UpSide: Behind Pipe
NonOperated Working Interest For Sale.
Net Production: 32 BOPD & 979 MCFD
Net Cash Flow: $272,000/Mn
AGENT HAS UPDATED DATA AVAILABLE
PP 3769DV
MISSISSIPPI
PERRY CO., MS PROSPECT
3 to 4-Proposed Wells.
360-Gross Acres.
Paluxy Formation. 11,500 Ft.
Also Lower Tuscaloosa & Wash-Fred.
2-D Seismic & SubSurface Geology.
40% Working Interest Available. 1.5+ MMBO
Seller Will Continue To Operate.
Est Reserves: >1.5 MMBO
CONTACT PROSPECT GENERATOR
DV 4519
SIMPSON CO., MS PROSPECT
46,278-Optional & 6,400-Prospect Acres.
GULF COAST SMACKOVER
Smackover Reservoir. 24,000 Ft.
Hosston. Rodessa & Sligo Potential.
Faulted Anticlinal Structure: 3-Way Closure
— At Smackover Level. SMACKOVER
160-Miles 2-D Seismic In Option Area.
LEASE AT NEGOTIABLE TERMS
Most Analogous to Field w/49 BCF
Main Well w/121 Ft Pay. Cumm’d 33 BCF
— and Still Producing 2.0 MMCFD
Est: >220 BCF/120 Ft. Pay/1,000-Acres
Owner Will Consider Offers For 10,000 Ac
40-Miles 70’s Vintage Shell Seismic
— Reprocessed in 2008
LANDOWNER HAS DETAILED PACKAGE
DV 3466L
SIMPSON CO., MS ROYALTY
2-Wells.
GULF COAST ROYALTY
ROYALTY INTEREST FOR SALE
Total Net Prod: ~7.5 BOPD & 1.0 MCFD
Decline Curves & Financial Info Available.
Part Of A Larger Royalty Package.
WASHINGTON STATE SELLER
RR 3792
SMITH & PEARL RIVER CO., MS SALE
5-Wells. ~8 PUD. 3,800-Acres.
CENTER RIDGE, BLACKSTONE
& STEWART FIELDS
Sligo/Rodessa/Tuscaloosa. 12,500 Ft.
Tuscaloosa. 11,000 Ft.
5 Center Ridge PUD. 3,530 MCFED
2-3 Stewart Field PUD.
100% OPERATED WI; 77% NRI
Gross Production: 260 BOPD & 3,100 MCFD
Net Production: 200 BOPD & 2,200 MCFD
Net PV10: $62,000,000
SELLER HAS DETAILED PACKAGE
PP 5031DV
MIDCONTINENT
ARKANSAS
ARKANSAS ACREAGE OFFERING
2,300-Acres.
FAYETTEVILLE SHALE PLAY FAYETTEVILLE
Prospect Has Proven Reserves.
8 Counties w/ Established Fields.
FOR ASSIGNMENT OR JOINT VENTURE
CALL PLS FOR INTRO TO SELLER
DV 5500L
ARKANSAS MINERALS FOR LEASE
7,180-Gross Acres. 4,700-Net Acres.
MOST ACREAGE IN UNION CO.
Additional Small Tracts In: Columbia,
Lincoln, Calhoun, And Jefferson CO.
MINERALS FOR LEASE MINERALS
M 3779L
ARKANSAS NONOPERATED POSITION
7-Counties. 505-Wells.
FAYETTEVILLE SHALE
All Acreage Held By Production (HBP).
All Wells Are Horizontal.
52-Rigs Currently Drilling. FAYETTEVILLE
734-Additional Horizontal Drill Sites.
2.5% WI In 228 Sections; 83% Avg NRI.
Net Production: 8,123 MCFD
Net Cash Flow: $1,053,000/Mn
STILL AVAILABLE - CALL FOR UPDATE
PP 6447DV
ARKANSAS PROPERTY DIVESTMENT
~38,000-Net Acres.
LOGAN, SEBASTIAN, & SCOTT CO.
Middle Atoka (Hartford) Gas.
Behind Pipe Potential In Upper Atoka—
—Mansfield & Alma Formations.
10-PUD Locations Identified.
Seller Will Deliver 80% NRI. 833 MCFD
Net Production: 833 MCFD
Existing Infrastructure On Premisis.
CONTACT AGENT FOR UPDATE
PP 5336DV
NORTH LOUISIANA
JACKSON PH., LA ACREAGE
Mineral Acreage In Producing Trends – Vernon,
EROS, CHATHAM & CLEAR BRANCH
Obj 1: Upper & Lower Cotton Valley
11,500 - 15,000 Ft. Ptd ACREAGE/3D
PLUS: Rodessa, James & Sligo
3-D Seismic Data.
SELLER SOLICITING LEASE OFFERS
FOR AVAILABLE ACREAGE
Recent Horizontal Completions Show
— Potential 5-8 Times Higher Than Vertical
Reserves Potential: Multiple TCF
SELLER HAS DETAILED PACKAGE
DV 3887L
JACKSON PH., LA PROJECT
Cotton Valley & Bossier Gas.
VERNON, CHATHAM, CLEAR BRANCH
Cotton Valley Targets. 1,500-15,000 Ft.
Upper Cotton Valley Group Production
— Occurs Across Mineral Block. LEASE
Acreage Within Producing Bossier Trend.
3-D Shows Downthrown Growth Fault Trap.
Undeveloped Trend Acreage.
Multiple TCF Reserves Potential.
DV 3768L
NORTH LOUISIANA PROJECT
Tap Natural Gas From Continuous
— Jurassic Shale Reservoirs w/Horiz
— Drilling & Massive Multi Frac Stimula
Haynesville & Mid-Bossier Shale. MULTIPLE
10,500 Ft. to 13,000 Ft. + 5,000 Lateral. TCF
Primary Target: Overpressured Calcareous
Shale-Haynesville In Age w/Finely Dispersed
— Organic Matter w/Reported TOC’s ~6%.
Acreage, Oil & Gas Mineral Rights For Sale.
Reserves Potential: Multiple TCF
Many Successful Horizontal Wells Drilled
& Completed w/Multistage Fracture Stimula.
CONTACT SELLER FOR MORE INFO
DV 3918HZ
NORTH LOUISIANA SHALE PLAY
60,000-Acres.
SABINE PH., LA TX/LA/DV
NATCHITOCHES PH., LA
Rapidly Developing Haynesville Shale.
Tested Hanesville & Bossier Shales.
Vertical Well Test: 5.5 MMCFD
CONTACT SELLER FOR DETAILS
DV 5869
SABINE PH., LA LEASE SALE
~11,533-Acres.
HAYNESVILLE SHALE
All Acreage Is Contiguous. LA/ACREAGE
100% OPERATED WI; 75% NRI
Leasehold Is Available For Sale.
CALL PLS TO LEARN MORE
L 5773
SABINE PH., LA PROSPECT
50-Potential. ~13,000-Acres.
Haynesville & James Lime Targets.
SubSurface Geology. NLA/DV
50%+ WI Available; ~37.5%+ NRI
Operations Available To Qualified Partner.
Est Reserves/Well: ~8.0 BCF
Est Reserves/Project: >1.0 TCF
EXPLORATIONIST HAS INFO
DV 5281
WEBSTER PH., LA PROSPECT
720-Contiguous Acres.
Targeting Haynesville Shale.
Seller Will Deliver 74% NRI.
Lease Is On 3 Year Term. HAYNESVILLE
CALL CALIFORNIA PRINCIPAL
DV 5111
WINN PH., LA PROJECT
2,300-Gross Acres.
Louisiana Re-Drill Project.
Targeting Calvin Sands/Knowles Lime.
Proposed Depth: 14,300 Ft.
80 Sq Mi 3-D Seismic Survey.
Fault & Stratigraphic Traps. 45+ BCF
Knowles Intervals Tested:
Est Reserves: 45+ BCF
GENERATOR HAS MORE DETAILS
DV 5203
WINN PH., LA PROSPECT
480-Gross Acres.
Targeting Shallow Wilcox Gas. 2,600 Ft.
Defined By 3-D Seismic.
Stratigraphic Trap Type. >2.0 BCF
3-Offset Wells Have Cumm’d 596 MMCF.
Est Reserves: >2.0 BCF
LAND MANAGER HAS MORE INFO
DV 5201
WINN, LASALLE, CALDWELL PH., LA
126,000-Acres.
CRETACEOUS/JURASSIC PLAY TRENDS
Calvin, Cotton Valley & Bossier, Knowles
— Hosston & Rodessa, James & Sligo.
5,000 Ft. to 25,000 Ft. Ptd. ACREAGE/3D
2nd Targets: Tuscaloosa, Glenn Rose
— Mooringsport, Paluxy & Selma Chalk.
900-Miles 2D & Two 3D Seismic Surveys.
SELLER SOLICITING LEASE OFFERS
FOR AVAILABLE ACREAGE
Reserves Potential: Multiple TCF
SELLER HAS PACKAGE
DV 3687L
SOUTHWEST LOUISIANA
VERMILION PH., LA PROSPECT
180-Acres.
GUEYDAN DOME ~15 BCF
Miocene Target Identified.
Prospect Sitauted On Wedge Fault.
Supported By 3-D Seismic Mapping.
25% Working Interest; 72% NRI (Lease)
Anticipated Spud: Q1 2009
Est Reserves: ~15 BCF
DHC: $2,000,000; Compl: $1,000,000
DV 5584
VERNON PH., LA LEASE SALE
~8,343-Net Acres. 1-Contiguous Block.
HAYNESVILLE SHALE HAYNESVILLE
100% OPERATED WI; 75% NRI
Leasehold Position Available For Sale.
CALL PLS FOR INTRO TO SELLER
L 5772
NORTH LOUISIANA
AVOYELLES PH., LA PROSPECTS
1 To 2-Wells. ±200-Acres.
Frio Gas Targets. 4,500 Ft.
Additional Frio Prospect Available.
Defined With 2-D Seismic.
Offset DryHole Logged Gas. 2.0 BCF
75% WI Available, 74% NRI
Operations Negotiable.
Est Reserves/Well: 1.5 BCF
Est Reserves/Proj: 2.0 BCF
DHC: $450,000; Compl: $200,000
EXPLORATION DEPT HAS DETAILS
DV 5714
BIENVILLE & RED RIVER PH., LA
11-Wells. 8,967-Net Acres.
NORTH LOUISIANA
Cotton Valley & Hosston Production.
Undeveloped Haynesville Acreage
Two Operated & Five NonOperated Units.
7-Additional Operated Units Being Formed.
OPERATED & NonOperated WI
Est Net Production: 2,300 MCFD PP/DV/LA
Projected Net Cash Flow: $425,000/Mn
Negotiated Transaction.
CA Required To Review Data.
CONTACT AGENT FOR UPDATE
PP 3678DV
BOSSIER PH., LA PROPERTIES
5-Wells.
REDLAND FIELD 654 MCFD
Cotton Valley Production With Upside.
100% WI Available; 77% NRI
Net Production: 654 MCFD
Net Cash Flow: $112,000/Mn
Dozens Of Proved Drilling Opportunities.
AGENT WANTS OFFERS APRIL 2009
PP 5262
CADDO & BOSSIER PH., LA ROYALTY
~429-Net Royalty Acres.
HEART OF HAYNESVILLE
No Depth Restrictions. Title Done.
Acreage Has Wells Permitted.
Some Shallow Production. ORRI
Royalty Interest For Sale.
Negotiated Sale.
AGENT HAS ASKING PRICE
RR 3379
CADDO PH., LA PROSPECT
480-Acres.
HAYNESVILLE TREND 39 BCF
Obj 1: Cotton Valley Formation. 7,700 Ft.
Obj 2: Haynesville Shale. 9,850 Ft.
Obj 3: Smackover Formation. 11,300 Ft.
2-D Seismic & SubSurface Geology.
100% Working Interest; 74% NRI
100% Operations Available.
Active Area - Recent Offset Completions.
Est Well Reserves: 6.5 BCF
Est Proj Reserves: 39 BCF
CONTACT EXPLORATIONIST FOR INFO
DV 5699
CADDO PH., LA ROYALTIES
125-Acres.
NORTH LOUISIANA
HAYNESVILLE DRILLING
Royalties Combined With Leases
— Giving 93.75% NRI
CONTACT AGENT TO LEARN MORE
RR 3629
CONCORDIA PH., LA PROSPECT
220-Acres.
DONNELLY LAKE
Obj 1: Tew Lake Channel. 5,750 Ft.
Obj 2: E-5 Sands. 6,000 Ft.
Good SubSurface Control. ~950 MBO
Structural-Stratigraphic Trap.
Analogous Field Cumm’d >1.6 MMBO.
Est Tew Lake Rsrvs: 750 MBO
Est E-5 Sand Rsrvs: 200 MBO
DHC: ~$626,000; Compl: ~$385,000
DV 5487
Advertise with PLS!
Call Beau Kelley
713-650-1212
for rates and
available placement.
• doral Energy acquired 92%
WI in six San Andres waterflood leases
in the Levelland field in Cochran Co.,
Texas, for $2.3 million. Gross pro duc-
tion is 98 BOPD and 220 MCFD. The
acquisition adds 500,000 BOE of net
PDP reserves, raising Doral’s total
proved developed reserve base to
1.5 MMBOE. The leasehold covers
3,061 net acres with a total of 81 wells
(41 producing, 30 water-injection, and
10 shut-in).
• Ecco Energy corp. is pur-
chasing from Samurai Corp. working
interests in properties previously owned
by Lake Fork Resources and M-J Oil
Company on eleven counties in eastern
Ohio. ECCO gains operatorship of
40 producing wells and multiple devel-
opment drilling and workover opportuni-
ties. Productive horizons include the
Clinton Sandstone, Ohio Shale, Oris -
kany Sandstone, Berea Sandstone
and Marcellus Shale. Net production
is 240 MCFD and 23 BOPD.
• El Paso corp. set a $2.7-$3.3
billion capital program for 2009, with
$1.7 billion allocated to its pipeline
group and $0.9 to $1.3
billion for the E&P seg-
ment. El Paso will spend 35% of its
domestic E&P budget drilling Hay-
nesville Shale and Cotton Valley hori-
zontal wells. El Paso expects to pro-
duce between 725 and 815 MMCFeD
this year, compared to fourth quarter
production of 752 MMCFeD, which
was in turn down from 924 MMCFeD
in Q4 2007.
• Enhanced oil Resources
engaged Tristone Capital to explore
potential joint venture opportunities
for the company's interests in the St.
Johns Helium and CO2 field in Arizona
and New Mexico – the largest of its
kind in North America with 7.7 TCF of
CO2 and 30 BCF of helium recover-
able. Enhanced plans a helium extrac-
tion plant capable of processing up
to 500 MMCFD of raw gas and a
pipeline of similar size for delivery
into the Permian Basin.
• Foothills Resources and its
subs filed voluntary petitions for reor-
ganization under
Chapter 11 in
the U.S. Bankruptcy Court in Wilming-
ton, Delaware. Foothills operates in
Texas, California and Oklahoma.
• geomet, inc., reported proved
reserves of 320 BCF at year-end 2008,
an 8.6% decrease from year-end 2007
due to 42 BCF of downward revisions
and a property conveyance. The com-
pany’s proved reserves are all from
CBM plays. About 57% of total proved
reserves are in the Gurnee field in
Alabama and 41% are in the Pond
Creek and Lasher fields in West
Virginia and Virginia.
E&P Briefs
CENTERRA
ENERGY PARTNERS LLC
LIVE OAK CO., TX PROSPECT
160-Acres.
Targeting Queen City Formation.
7,000 Ft.
READY TO DRILL
High Porosity & Permeability.
Well Control Available.
90% WI Available; 75% NRI
Seller Will Invest Heads Up w/ Buyer.
Operations Are Available.
Estimated IP: 2.0 MMCFD
Est Reserves: 1.0-4.0 BCF
SELLER LOOKING FOR OPERATOR
DV 5435
Robert G. Watson Jr.
Managing Partner
1600 N.E. Loop 410 • Suite 104
San Antonio, TX 78209
(210) 451-5545
centerraenergy.com
dv
L
A
R
R
Y
LEE
ROYALTY FREE DISCS
www.larrylee.com
Larry Lee Photography | 661.259.1226
PLS Sells
Midstream
Assets
–Listings For Sale
PAGE 15 PROSPECTS & PROPERTIES
ARKANSAS
ARKANSAS PROSPECT OFFERING
>1,550-Potential Wells. 125,000-Acres.
FAYETTEVILLE SHALE
Obj 1: Fayetteville/Woodford. 4,500 Ft.
Obj 2: Penters. 4,800 Ft.
2-D Seismic Plus G&G. AR/MS/DV
100% OPERATED WI; 82.5% NRI
Est Reserves/Well: 1.5 BCF
Est Reserves/Proh: 1.8 TCF
DHC: $1,000,000; Compl: $2,000,000
CALL FOR SELLER INFO
DV 5175
CONWAY CO., AR PROSPECT
18,000-Gross & 9,200-Net Acres.
Fayetteville Shale w/ Conventional Upside.
2-D Seismic. Offset Well Control.
WithIn 3 Miles Of Analog: 2.0 MMCFD
READY TO DRILL 500 BCF
Potential Reserves: 250-500 BCF
Infrastructure In Place.
Operations Are Available.
SELLER HAS MORE INFORMATION
DV 5240
MILLER CO., AR PROSPECT
Jurassic Smackover Carbonates.
Formation Depth: 7,500 - 8,500 Ft.
1,200+ Acres of Seismic Data AR/DV/3D
Seller Will Deliver 73% NRI.
3-D Seismic: $3,000,000 (40 Sq. Mi.)
DV 5680
WHITE & JACKSON CO., AR MINERALS
8,287-Mineral Acres For Lease.
Royalty/Mineral Interest Available. MINERALS
CALL INTO PLS FOR MORE INFO
M 5307L
KANSAS
BARBER CO., KS PROSPECT
20-Potential Wells.
PRATT ANTICLINE 2.25 MMBOE
Multiple Targets Identified At 4,500 Ft.
3-D Seismic Data Plus G&G.
100% OPERATED WI; 80% NRI
Est Reserves: 2.25 MMBOE
All-In Per-Well Development: $450,000
SELLER HAS DATA FOR REVIEW
DV 5662
CENTRAL KANSAS PROSPECT
40,000-Acres.
UPLIFT WELL IDENTIFIED
Multiple Pay Zones. KS/DV/3D
3-D Seismic & SubSurface Geology.
Working Interest For Sale.
Est Reserves: >600 MBO
Dry Hole: $131,000; Compl: $299,000
AGENT REPRESENTED PACKAGE
DV 3727
ELK CO., KS SALE PACKAGE
3-Wells.
CHEROKEE BASIN. WALKER FIELD
Arbuckle and Mississippian Production.
100% OPERATED WI; 85% NRI
Gross Production: 4.0 BOPD 3.4 BOPD
Net Production: 3.4 BOPD
Avg Net Cash Flow: $6,054/Mn
AUCTION ENDS MARCH 31, 2009
PP 4055AU
GOVE CO., KS PROPERTY
6-Oil Wells. 10,440-Acres.
DUFFY FIELD
Mississippian Oil. 5,000 Ft. PP/KS
Also Producing From LKC.
12.5% NonOperated WI Available.
Net Cash Flow: $4,900/Mn
SELLER HAS PRODUCTION INFO
PP 5260
GREELEY CO., KS PROSPECT
100-Potential Wells. >16,000-Acres.
STATELINE TREND
Obj 1: Morrow Formation. 5,300 Ft.
Obj 2: Marmaton Formation. 4,200 Ft.
Geology, Geochemistry, Satellite Imagery.
50% OPERATED WI; 81% NRI
SELLERS TO PARTICIPATE 25-50 MMBO
Est Reserves/Well: 150 MBO
Est Reserves/Project: 25 - 50 MMBO
DHC: $400,000; Compl: $386,000
DV 5756
NORTHEAST KANSAS PROJECT
7-Key Areas. 2-Wells. ~45,000-Acres.
NORTH NEMAHA RIDGE
Multiple Reservoirs Identified.
Development/ReCompletion Opportunity.
34.25 Squares Of 3-D Seismic.
100% OPERATED WI For Sale. MULTIZONE
Net Production: ~70 BOPD
CONTACT PLS FOR MORE DETAILS
DV 5690PP
KANSAS
ROOKS CO., KS OFFERING
10- 3-D Locations. ±12,000-Acres.
Central Kansas Uplift / K.C. Embayment
Obj 1: Lansing / K.C. 3,200 Ft. 2.0 MMBO
Obj 2: Arbuckle Formation. 3,500 Ft.
3-D Seismic & SubSurface Geology.
50% Working Interest; 85% NRI (Lease)
Operations Available To Qualified Operator.
Est Reserves/Well: 50 - 60 MBO
Est Reserves/Proj: 1.0 MMBO
DV 5513
SOUTHEAST KANSAS SALE PACKAGE
144-Wells; 80-PDP. 90,000-Gross Acres.
CHEROKEE BASIN
CBM Production. (300 - 1,400 Ft.)
MultiZone Development Upside. CBM
Gathering Facilities In Place.
100% OPERATED WI; ~82% NRI.
Net Production: 11 BOPD & 1,100 MCFD
3rd Party Updating Engineering.
PLS PREPARING DATA ROOM
PP 4248DV
NEBRASKA
CHEYENNE CO., NE PROSPECT
1 To 4-Wells. 480-Acres.
HEIDER >400 MBOE
Obj 1: J-1A Sand. 5,184 Ft.
Obj 2: J-1B Sand. 5,195 Ft.
Prospect Defined By SubSurface Geology.
50% NonOperated WI; 80% NRI (Lease)
Est IP: 75 BOPD & 10 MCFD
Est Well Rsrvs: 100 MBO & 100 MCF
Est Project Rsrvs: 400 MBO & 400 MCF
DHC: $292,000; Compl Cost: $225,000
CALL OPERATOR FOR MORE INFO
DV 5431
OKLAHOMA
ATOKA CO., OK MINERALS
3-Tracts. ~1,000-Acres.
Mineral Interests For Sale. MINERALS
Government Survey Over Lands.
CALL PLS FOR INTRO TO SELLER
M 5380
BEAVER & HASKELL CO., OK LEASES
11-Leases. 5-Counties.
MOCANE, ELMWOOD, CESTOS FIELDS
MORROW, OSWEGO & CHESTER
100% OPERATED WI FOR SALE LEASES
Various NRI.
Operator: XOG Operating LLC
AGENT HAS ADDITIONAL DATA
L 3893
BECKHAM & ROGER MILLS CO., OK
27.5-Net Acres.
10-Producing Wells. PP/OK
Net Cash Flow: $5,247/Mn
NEW PRODUCTION OFFERING
PP 5097
BRYAN & CHOCTAW CO., OK PLAY
>100,000-Net Acres.
Exploratory Acreage Play. TIGHT GAS/3D
Multiple Reservoirs Indentified.
Acreage Within 590 Governmental Sections.
300-Square Miles 3-D Seismic Shoot
— Currently Being Processed.
27% Avg Working Interest Available.
Ave Lease Burden of 18.8%.
>50% Ownership In 112-Sections.
Ground Floor Opportunity For Control
— of MultiPay Tight-Gas Resource Play.
Leases Expirations As Late As 2013.
CALL AGENT FOR PACKAGE
DV 3894
Elsewhere, Southwestern last year signed a 50/50 joint-venture agreement with
a private company to drill two horizontal wells targeting the Haynesville Shale in
Shelby and San Augustine Co., Texas. The first well (Red River 877 #1) is being
tested, while the second (Red River 164 #1) will be tested in the second
quarter. Southwestern hinted in its latest press release that it may invest
more in the Haynesville play than previously planned.
Southwestern has 351 BCFe of proved reserves in East Texas, where it spent $160
million and participated in 50 James Lime wells last year. Net production from the
area was 31.6 BCFe (~87 MMCFeD) in 2008, up from 29.9 BCFe in 2007.
This February, Southwestern purchased 21,715 net acres in Lycoming Co.,
Pennsylvania, for $8.2 million. The deal increased its Marcellus Shale leasehold to
137,000 net undeveloped acres. Southwestern has drilled four wells (three vertical
and one horizontal) on its Marcellus acreage in Bradford and Susquehanna Co.,
three of which have been production tested but no results have been released.
Total company volumes reached 57.6 BCFe (640 MMCFeD) in the fourth quar-
ter of last year and 194.6 BCFe (535 MMCFeD) for the full year, both up signifi-
cantly from the year ago periods. This year Southwestern hopes to grow production
45% to 282 BCFe, with 230 BCF expected to come from the Fayetteville Shale.
Total company proved reserves were 2,185 BCFe (62% proved developed) at
year end, up 51% from the end of 2007. In 2008, Southwestern replaced 523% of
its production by adding 920 BCFe of proved reserves, including net upward revi-
sions of 98 BCFe.
Southwestern also divested of some non-core properties last year, selling all
leases, wells and equipment that comprised its Permian Basin and onshore Texas
Gulf Coast operating assets to various buyers for $240 million. Net production
from these areas during 2008 was 3.1 BCFe, compared to 6.1 BCFe in 2007.
In other news, Southwestern CEO Harold Korell said he will retire in Q1 2010,
when current president and COO Steven Mueller will assume the post of CEO.
Korell will serve as executive chairman until his retirement, after which he will
become non-executive chairman. Korell joined Southwestern in 1997 and has
served as CEO since 1999. Under Korell’s leadership, Southwestern’s market cap-
italization grew from $187 million at year-end 1998 to over $9.0 billion today.
southwestern reaches milestone continued from page 1
Later on, Economides showed a picture of Gwyneth Paltrow at the
Academy Awards and commented, “Here is a picture of the EIA’s newest
energy analyst” at which point the EIA researcher
yelled from the back of the room: “I’m not that pretty.”
The crowd roared with laughter.
Near the end of his presentation, Economides made
another pressing point: the world wants what the U.S. and
Canada have, including cars and computers. “There are no substitutes for carbon
based fuels in the foreseeable future.”
We are going to reschedule Econo mides for another event!
Economides calls for $100 oil cont. from page 1
Mid-Continent
Edition Available!
888-622-9943
www.donsdirectory.com
cabot drills third marcellus horizontal
Houston-based Cabot Oil & Gas announced that its second and third horizon-
tal wells in its Marcellus Shale play (Eastern Pennsylvania) at 24-hour IP rates in
excess of 8.0 MMCFD each. The Black 1H and 2H wells along with Cabot’s orig-
inal Marcellus horizontal, Ely 6H, are now producing at greater than 20
MMCFD. Thirty additional horizontals are scheduled for 2009.
Cabot is also producing from 15 vertical wells and plans 30 additional
Marcellus verticals this year. Cabot has five rigs running in the Marcellus, two
drilling horizontals with the other smaller rigs drilling the vertical sections for later
horizontal work. Cabot will expand to six rigs by Q2, then to as many as eight rigs.
Since closing its East Texas acquisition last August, Cabot has four rigs
drilling vertical Cotton Valley and Haynesville limestone wells. Recent vertical
successes include the Jarrell #4 (Haynesville lime) at 3.3 MMCFD and the
Cotton Valley at 1.7 MMCFD. The two zones have since been commingled. The
Hays #4 tested from the Haynesville lime at 1.1 MMCFD with Cotton Valley
pay behind pipe and the Hughes #2 tested the Haynesville lime at 1.5 MMCFD
and the Cotton Valley at 2.2 MMCFD.
Cabot has also completed two horizontal Haynesville limestone wells from
the same pad. The Pinkerton 11H, the first horizontal shale test in Minden, was
drilled to 14,144 ft. in the middle Bossier with a 3,000-ft. lateral. The comple-
tion “was not optimal,” the company said. Cabot encountered similar problems
while completing the Pinkerton 12H.
Cabot has adjusted its 2009 drilling program to match cash flow at $475 mil-
lion and lowered its production guidance accordingly. As Cabot entered 2009, it
had 18 rigs operating, with 15 rigs operating in February. June may see only 13
rigs despite the Marcellus ramp up.
Cabot reported proved reserves growth of 20% year-over-year, reaching 1,942
BCFe at year-end 2008, replacing 443% of production, which rose 11% to 95.2
BCFe (260 MMCFeD).
ultra reaches record
annual production
Ultra Petroleum reported record
annual production of 145.3 BCFe (~400
MMCFeD) in 2008, up 27% over 2007.
Q4 production hit a record 40.7
BCFe (452 MMCFeD), up 21%
from a year ago.
Ultra drilled 307 (158 net)
wells last year. At Pinedale (southern
Wyoming), Ultra reduced drilling time
31% from 2007, averaging 24 days from
spud to TD, flowing 8.5 MMCFD per
operated well (6.8 MMCFD for non-ops).
Ultra confirmed with Kinder Morgan
their access to the REX-East pipeline.
First phase is expected to be in service
from Missouri to Indiana in April, then
to Ohio in June and into eastern Ohio by
November.
Ultra’s proved reserves increased 18%
during 2008 with 3.52 TCFe at year end
for an organic reserve replacement of
470%. In 2008, Ultra participated in 307
wells, ending the year with an undrilled
inventory of 5,570 locations, increasing
almost 600 locations from 2007. Ultra has
set a 2009 capex of $720 million, with
$632 million allocated to Wyoming and
$73 million to Pennsylvania.
EgPi signs JV with
Petroconsultants
Arizona-based EGPI/Firecreek and
Templar PetroConsultants signed a JV
to drill and recomplete some wells in
Haskell, Shackelford and Jones Co., West
Texas. The property has 38 existing wells,
with 14 producers and 24 shut-ins to be
brought back online. It holds over 50
proved undeveloped or inside locations
with at least four formations behind pipe
for future development. Recoverable
reserves are estimated at 400,000 bbls
from the Cook, Bluff Creek, King, and
Tannehill zones.
The companies anticipate an initial
six-well drilling program to shallow
depths of 1,700 to 2,300 ft. to be fol-
lowed with 18 to 20 additional wells.
unit contracts less
than half its rigs
Unit Corp. reported 55 of its 132
drilling rigs are under contract this year.
Although the company added three new
1,500 HP diesel-electric
drilling rigs to its fleet, near the
end of the year the company
was forced to store one of
these. Unit has postponed the construc-
tion of five drilling rigs and cancelled
three planned rig constructions. Q4 rig
utilization was 74%, with an average of
97 rigs working, down 6% from 2007 Q4
2007 and a decrease of 13% from Q3
2008. Full year drilling rig utilization was
79% compared to 80% for 2007. Unit
averaged 103 drilling rigs working during
the year, 4% higher than 2007. Contract
drilling rig rates for Q4 averaged $19,330
per day, 4% higher than Q3 and 7%
higher than a year ago.
The Premier Oil & Gas Event
April 21 & 22, 2009 @ Witchita Falls Texas
• 350 Booths in Exhibit Hall • Golf Tournament
• Outdoor Equipment Showcase • Technical Seminars
• Sponsorships available • Networking
For more details, call Donna or Jo Ann at 800-299-2998
www.texasalliance.org
Falling through the $4.00 threshold
Despite last week’s 112 BCF draw, prices continue to stay soft
U.S. natural gas futures closed below their key $4.00/MMBtu psychological floor March 6 amid warnings of worse to come. Some producers and analysts are bracing for front-month NYMEX gas to fall below $3.00 this summer: an 80% drop from near $14.00 in mid-2008. With wellhead prices already nearing $2.00 in the Rockies, many smaller and even large independents could find themselves in tough straits. Even if the market can rebound this fall, on hopes plummeting rig activity can ease a nationwide gas glut, more write-downs and squeezed
c
Monday, March 16, 2009 | Volume 2, No. 3
QUICKPRICE
A Weekly Recap of Market Moves, Transaction Analysis and Price Projections
MARKET
ALERT
1. Gas crosses the $4.00 benchmark
2. Gas cou|d go |ower desp|te |ast week's storage numbers
3. Demand, demand, and |ess demand
4. R|g count |sn't he|p|ng desp|te dramat|c drop
5. Some compan|es opt|ng to buy b |



QuickLook
At press time OPEC refused to cut further volumes as predicted b
3









Special
Report
III
Economides calls for $100 oil
Fireworks at Marketmakers
All pessimism aside, last week PLS’ Marketmakers conference saw some fireworks at the end of the day when leading oil and gas analyst Dr. Michael Economides followed the EIA speaker. Economides effec- tively threw cold water and applicable barbs at the new administration, all politicians, California actresses and the EIA, noting that $40 flat oil projections for 3 years are “incompetent.” “For ty-dollar oil is unsustainable,” he said. “Mark my w
PLS presents
2009

PAGE 16 MARCH, 2009
OKLAHOMA
OSAGE CO., OK WATERFLOOD
5-Active Wells. 1-SWD. 720-Contiguous Acres.
BARTLESVILLE WATERFLOOD
36-Temp Abandon. 1-ShutIn. 25-Plugged.
WEST BARNSDALL FIELD WATERFLOOD
Mississippi Chat & Arbuckle Gas Potential.
Project Situated On Red Eagle Anticline.
63-Wellbores Drilled To 1,278 Ft.-2,961 Ft.
100% OPERATED WIt; 80% NRI
Cumm’d Oil To Date: 2,137 MBO
450-Leasehold Acres Available For Flooding.
Sufficient Source Water May Be Obtained.
Est Recoverable Rsrvs: >1,500 MBO
3-Analogous Bartlesville Floods.
Total Development Cost Est: $4,370,000
3-Independent Studies Supporting
— Viability Of The Flood & Est Recovery
CALL AGENT FOR SALE STATUS
PP 3956WF
PAYNE CO., OK PROSPECT
5,538-Contiguous Net Acres.
Horiz. Misener/Hunton Dewatering Project.
Targeting Hunton Zone. 5,100 Ft. (TVD)
3-D Seismic Shoot Completed.
Seller Will Deliver Avg 79% NRI. OK/DV/3D
Est Reserves: 1.0-20 MBO & 1.0-2.5 BCF
CALL GENERATOR FOR DETAILS
DV 5387
PITTSBURGH CO., OK PROSPECT
1-Proposed Test Well. 268-Acres.
Targeting Hunton Formation Gas. OK/DV
Proposed Depth: 6,600 Ft.
Selling All Depths Below Base Hartshorne.
43.3% WI Available; 33.5% NRI
Estimated IP: 2.0 MMCFD
OKLAHOMA AGENT HAS UPDATES
DV 5288
POTTAWATOMIE CO., OK PROSPECT
3-ShutIn.
Significant Development Opportunity.
100% Working Interest Available. DV/OK
Last Production: 3.0 BOPD
CONTACT AGENT TO LEARN MORE
DV 5110
ROGERS CO., OK PROPERTIES
50+ Oil & Gas Wells. 4,375-Acres.
Producing From Penn. Age Reservoirs —
— Also Rowe Coal Seam. 700-1,100 Ft.
Numerous PUD Locations Identified.
Great Development Opportunity.
100% Working Interest; 80% NRI ~650 MCFD
Avg Net Production: ~500 MCFD
LAND DATA AVAILABLE UPON REQUES
PP 5498DV
SEMINOLE CO., OK PROSPECT
Oil Prospect.
75 Miles SE Of Oklahoma City. ~40 MMBO
Horizontal ReDevelopment.
Analogous Field Cumm’d 90 MMBO.
Est Reserves: ~40 MMBO
DV 5522
TULSA CO., OK GATHERING SYSTEM
ShutIn Pipeline With Equipment.
10 Sq Miles.
OKLAHOMA SYSTEM
CBM/PIPE
Significant CBM Exploration Within Acreage.
Shallow Coal Seam Gas Production.
100% OPERATED WI FOR SALE
Suitable To: Production & Pipeline Buyer
SELLER HAS SOLID RIGHT OF WAYS
G 5617PL
WAGONER CO., OK PROJECT
9,250-Net Acres
Woodford Shale. 1,200-1,800 Ft.
Upside Potential In Dutcher & Cromwell.
Seller Will Deliver 78% NRI Average.
Up To 60 BCF Per Well. 60 BCF/WELL
Completion: $800,000 per Well
SUMMARY DATA ALSO AVAILABLE
DV 5678
WOODWARD CO., OK PROSPECT
640-Acres. 1-Test Well.
Morrow Sand, Chester Limestone.
Total Depth: 9,100 Ft. OK/DV
65% Working Interest; 78% NRI
Est Reserves: 2.0 - 4.0 BCF
DHC: $794,796; Compl: $572,631
DV 5593
CALIFORNIA
CALIFORNIA PROSPECT OFFERING
1-Prospect.
NW MCKITTRICK FIELD
Targeting Main Area, Upper Zone,
& Steven Sands. Depth: 3,500 Ft.
Well Data, Surface Geology, >13 MMBO
& Well To Well Correlations.
50% Working Interest; 77% NRI (Lease)
Horizontal Potential.
Est Recoverable Reserves: 13.7 MMBO
SELLER LAND DEPT HAS INFO
DV 5734HZ
OKLAHOMA
NOBLE CO., OK WATERFLOOD
6-Well Bores. 760-Leasehold Acres.
RED FORK-Secondary Recovery Project.
11-Wells To Be Drilled For Maximum
— Waterflood Sweep Efficiency.
Skinner Formation - Behind Pipe Secondary
— Objective & Deeper Mississippi Potential.
Only Portion Of Trend Never Waterflooded.
100% OPERATED WI; 75% NRI
Infrastructure In Place. WATERFLOOD
Recoverable Rsrvs: 1.1 MMBO & 6.0 BCF
Secondary Recoverable: 800 MBO
Exploit PNP Remaining Recoverable Rsrvs.
Negotiated Sales Process.
CA Required to Review Reservoir
— Engineering & Other Extensive Data.
SUMMARY PACKAGE AVAILABLE
PP 3896WF
NORTH PAWHUSKA GAS PLAY PKG
4-Wells.
CHAUTAUQUA PLATFORM BASIN
PAPPIN FIELD
Wayside and Lovell Sandstone Production.
100% OPERATED WI; ~80% NRI
Gross Production: 159 MCFD 127 MCFD
Net Production: 127 MCFD
Avg Net Cash Flow: $12,774/Mn
AUCTION ENDS MARCH 31, 2009
PP 4025AU
OKFUSKEE CO., OK PROSPECTS
4 To 6-Potential Wells. 640-Acres.
Targeting Wilcox Formation. 3,700 Ft.
Cromwell Potential Identified.
Probable BailOut In The Atoka Formation.
Defined By Subsurface Geology. >780 MMBOE
75% NonOperated WI; 78% NRI (Lease)
Est Reserves: 750 MMBO & 200 MMCF
DHC: $291,000; Compl: $342,000
LAND MANAGER HAS MORE INFO
DV 6481
OKLAHOMA OPERATED PROPERTIES
23-Wells; 3-SWD, 19-PDP & 1-INA
EIGHT COUNTIES
2,285 MMCFED
Producing from 14 Zones.
Additional Revenue Stream: Gathering
— Line w/Interconnect On CenterPoint.
Mostly 100% Working Interest For Sale.
Est Net Production: 24 BOPD & 348 MCFD
Est Net Cash Flow: $175,294/Mn
Net Reserves: 150 MBO & 1,385 MMCF
Net PV10: $10,863,996
VIRTUAL DATA ROOM
AGENT REPORTS SALE IS PENDING
CONTACT AGENT FOR UPDATE
PP 3799DV
OKLAHOMA OVERRIDES FOR SALE
~12,000-Net Acres.
WOODFORD SHALE PLAY OVERRIDES
HUGHES & PITTSBURGH COUNTIES
80% of Leases Held By Production.
16-Additional Wells Recently Drilled.
Numerous Permits In Progress.
OVERRIDING ROYALTY INTEREST
Total Net Cash Flow: $15,500/Mn
AGENT PROVIDING ONLINE PACKAGE
RR 3852
OKLAHOMA PROSPECT SALE
40-Wells. 3-SWD. ~24,000-Net Acres.
OKMULGEE, OKFUSKEE, HUGHES
Woodford Shale Horiztonal Activity.
3-D Seismic Data Available.
Complete Infrastructure In Place.
READY TO DRILL WOODFORD
Est Reserves: 413 BCF
CONTACT SELLER FOR MORE INFO
DV 5709HZ
OKLAHOMA SALE PACKAGE
30-Wells. 1-New. 1-Compl. 34-Locs.
CUSTER, HASKELL, LE FLORE,
& PITTSBURG CO. 264 MCFED
WEATHERFORD, STIGLER WEST,
& KINTA FIELDS
Skinner, Atoka, Cherokee, Hunton, Brazil,
Red Oak, Spiro, Wapanucka Production.
3-D Seismic Available.
Small NonOperated WI For Sale.
Est Gross Prod: 129 BOPD & 6,441 MCFD
Est Net Prod: 4.0 BOPD & 255 MCFD
(2)New Wells to Add $9,600 - $16,050/Mn
Net Proved Rsrvs: 8.2 MBO & 5.9 BCF
Net Proved PV(10): $9,153,571
CONTACT PLS FOR MORE DETAILS
PP 4231DV
OKLAHOMA SHALE ACREAGE
8,400-Net Acres.
WOODFORD SHALE PLUS
MultiPay Prospects. 1,500-10,000 Ft.
Goddard, Sycamore, Hunton, Caney Shale
Viola, Stanley, Jackfork.
Polk Creek & Womble Shales. OKLA/DEALS
Proprietary 3-D Shoot In Progress.
Seller Will Deliver 73% NRI.
>1,400 Drilling Locations. 80-Ac Spacing.
HOUSTON SELLER HAS ACREAGE
DV 5468
OKLAHOMA
CARTER CO., OK PRODUCTION
4-Wells; 1-SWD
Morris & Deese Formations
Horizontal Drilling Potential HORIZONTAL
100% Operated WI; 87.5% N.R.I.
Avg. Production: 12 BOPD
SWD Well Permitted For Commercial
All Wells Located Within 10 Sq. Mi.
SELLER REVIEWING ALL OFFERS
PP 6196DV
CENTRAL OKLAHOMA DEVELOPMENT
Several MultiLateral Locations.
Skinner Sand & Hunton Lime Formations.
Depths Range: 6,400 - 7,000 Ft.
SEEKING WI PARTNERS TO DRILL
Seller Will Deliver 79.25% NRI. HORIZONTAL
Superb Economics, Safe Environment.
1st Location Rsrvs : 496 MBO & 3.2 BCF
Confidentiality Agreement Required.
CALL GENERATOR FOR DETAILS
DV 5911HZ
CENTRAL OKLAHOMA OIL DEAL
Waterflood Project. 760-Acres.
NORTH PLAINS AREA WATERFLOOD
Targeting Red Fork Sands. ~4,300 Ft.
Skinner & Mississippi Upside Identified.
6-Existing Wellbores & Equipment.
Additional Wellbores Need Drilling.
Vertical & Horizontal Opportunity.
100% OPERATED WI; 75% NRI
Primary Cumm’d Production: ~586 MBO
Est Reserves: ~1.1 MMBO & 6.0 BCF
Est Rsrvs From New Drilling/Waterflood.
Net PV10 Value: $54,000,000
Est Development Costs: ~$11,000,000
CA Required to Review Technical Data.
DV 4369WF
CREEK CO., OK PROPERTY
1-Gas Well.
GYPSY SOUTHWEST 130 MCFD
Multiple Productive Horizons Include —
— Dutcher, Skinner, Squirrel, & Atoka.
100% OPERATED WI; 81.25% NRI
Net Production: 130 MCFD
Estimated Well Life: 20+ Years
Recently Purchased New Equipment.
AGENT HAS MORE DATA AVAILABLE
PP 6435DV
DEWEY CO., OK PROPERTY
WellBore Only; 160-Acres
CESTOS SE FIELD - JONES H LEASE
100% OPERATED WI; 76.5% NRI
Gross Prod: 20 BOPD & 125 MCFD PP/OK
Includes SaltWater Disposal Well
Operator: XOG Operating LLC
AGENT HAS ADDITIONAL DATA
PP 3934
DEWEY CO., OK PROSPECT
640-Acres. 2-Test Wells.
Oswego Limestone, Morrow Sand, 2 TEST
& Chester Limestone. 9,000 Ft. (TD) WELLS
75% Working Interest; 78% NRI
Est Well Rsrvs: 1.0-2.0 BCFG & 20 MBO
DHC: $855,181; Compl: $600,100
DV 5594
DEWEY CO., OK PROSPECT
20,000-Acres (Mostly Contiguous).
ANADARKO BASIN ANADARKO
Obj 1: Woodford Shale. 14,000 Ft.
Obj 2: Mississippian Osage. 13,500 Ft.
Obj 3: Cottage Grove Sand. 8,500 Ft.
Develop With Horizontal Drilling.
OPERATIONS ARE AVAILABLE
SELLER HAS MORE DETAILS
DV 5579
GARVIN CO., OK PROSPECT
5-Proposed Wells. ±200-Acres.
Multiple Reservoir Potential. ~1.6 BCFE
Total Depth: ~4,750 Ft.
Low-Risk Prospect. Pipeline Nearby.
Up To 37.5% WI Available; 75% NRI (Lease)
Offsets Recent 500 MCFD Completion.
Est Reserves: ~100 MBO & 1.0 BCF
GENERATOR HAS MORE DETAILS
DV 5425
JACKSON CO., OK PROSPECT
200-Acres.
HARDEMAN
Miss Mud Mound. 9,600 Ft. 500 BCF
Low Risk Horizontal.
Excellent Porosity & Permeability.
3-D Seismic. G&G. EMT.
100% OPERATED WI; 75% NRI.
Est Reserves: 500 BO
DHC: $1,232,225; Compl: $210,000
CONTACT SELLER FOR MORE INFO
DV 5608 HZ
LOGAN CO., OK COMPLETION
1-Horizontal Well. Needs Completion.
Hunton Clarita Formation.
Total Depth: 7,500 Ft.
Contact With PayZone: 2,500 Ft.
Drainage Spacing Of 320 Acres.
Seller Will Deliver 75% NRI. COMPLETE
Estimated IP: 1.0-1.5 MMCFD
>20 5x-10x Payout Horiz Wells Close By.
Potential Total Sales: $15,000,000
Est Proved Rsrvs: 1.0-3.0 BCF & 150 MBO
Price Set - 1% WI HU Min BTB 10%
Acquisition/Completion Cost: $1,750,000
DETAILED SUMMARY AVAILABLE
DV 5755HZ
CALIFORNIA
CALIFORNIA PROSPECTS FOR SALE
9-Prospects. >10,000-Acres.
SAN JOAQUIN BASIN
Antelope Valley Trend
Multi-Zone Potential. >90 MMBOE
Depths: 2,750-5,500 Ft.
2-D Seismic Data, Well Data,
& Surface Geology.
25% Working Interest; 78% NRI (Lease)
Est Total Rsrvs: >60.9 MMBO & 185.9 BCF
LAND MANAGER HAS MORE INFO
DV 5738
KERN CO., CA PROSPECT
1,416-Acres.
WEST ANTELOPE HILLS >2.6 MMBOE
Obj 1: Point Of Rocks
Obj 2: Marbury #1 & #2 Sands
Obj 3: Paleocene/Cretaceous Sands
3-D Seismic & SubSurface Mapping.
Field Has Cumm’d 17.2 MMBO & 8.0 BCF.
Est Reserves: ~2.38 MMBO & 1.5 BCF
Drilling Costs/Well: $417,000-$492,000
GO TO PLSX.COM FOR PACKAGE
DV 5079
KERN CO., CA OFFERING
420-Acres.
WEST CARNEROS CREEK
Obj 1: Agua Formation
Obj 2: Phacoides Sands ~4.1 MMBO
Obj 3: Point Of Rocks
2-D Seismic & GeoChemical Survey.
Field Has Cumm’d 1.4 MMBO & ~8.0 BCF.
Est Reserves: ~4.1 MMBO
Drilling Costs/Well: $417,000-$492,000
GO TO PLSX.COM FOR PACKAGE
DV 5078
STANISLAUS CO., CA PROSPECT
1-Proposed Test Well.
SAN JOAQUIN
Near McMullin Ranch & Vernalis
Targeting Upper Cret. Winters. >39 BCF
Test Depth: 7,500 Ft.
Defined By Seismic & Well Control.
100% WI Available; 76% NRI
Est Reserves: >39 BCF
Est Drill Cost: $700,000
SELLER HAS MORE INFO AVAILABLE
DV 5730
NEVADA
ELKO CO., NV PROJECT
11,000-Net Acres.
14,000-Gross Acres.
MARY’S RIVER VALLEY
TERTIARY & PALEOZOIC TEST
Depth On Each High Is 8,000 Ft.
Seismic Control Confirms Major Low-
Relief Surface Anticlinal High.
38 Degree Oil. 250 MMBO
100% OPERATED WI; NRI Negotiable
SEEKING JV PARTNERS TO DRILL
3-Wells Drilled Down West Flank Encounter
Very Good Oil & Gas Shows - Light Oil.
Est Total Reserves: 250 MMBO
2-IMMEDIATE PROPOSED TEST WELLS
Major Oil Company In This Play
Seller Acreage Costs Are Reasonable
Geological & Drilling Data Available.
DV 9505
WHITE PINE CO., NV PROSPECT
2-Proposed Wells.
10,914-Acres.
BUTTE VALLEY BASIN
RANGE PROVINCE 2.9 MMBO/WELL
Obj 1: Diamond Peak. 4,500 Ft.
Obj 2: Guilmette. 7,500 Ft.
Flat Topography. Easy Access.
2-D Seismic & Geology/Geochemistry.
100% OPERATED WI; 80% NRI
Est Well Reserves: 2.9 MMBO
Dry Hole: $2,100,000; Compl: $1,000,000
CALL LANDMAN FOR SHOWING
DV 4130
WASHINGTON
PACIFIC COAST PROSPECT
3-Proposed Wells.
11,325-Acres.
ASTORIA BASIN
Southwest Washington MULTIPAY
Targeting Eocene Sand Reservoir.
Add’l Potential Zones Identified.
Drilling In Early 2009.
SEEKING 49% PARTNER TO DRILL
Seller Will Deliver 80% NRI.
Est Reserves: 230 BCF
Local Markets & Infrastructure.
CALL LANDMAN FOR SHOWING
DV 5421
–Listings For Sale
• heartland Energy develop-
ment corp. purchased 100% WI in the
Cerda #1 Wilcox gas well in Jim Hogg
Co., Texas. Heartland is shooting 3D
seismic on its 860-acre lease, with an
option to lease an additional 800 acres.
Heartland also has WI in the Margo
Heirs Field in Starr Co., Texas. The
company has participated in drilling
Margo Heirs wells 1-4 (10 MMCFeD
combined), and plans to participate in
the drilling of two more Vicksburg wells
during the first half of 2009.
• idgloBal corp. is partici pat-
ing in the San Simon project, an 11,000
ft. re-entry gas well in Lea Co., New
Mexico. San Simon is a proposed re-
entry of a 2004 Morrow wildcat drilled
by EOG Resources. Production tests
were performed in the Morrow and
the Wolfcamp prior to abandon ment,
but the Atoka Lime between 11,950
and 12,000 feet was not tested. IDG
acquired 56% WI in the 320-acre
project for $260,000 and 100% of the
re-entry costs ($295,000).
• mariner Energy increased
year-over-year net production 18% to
118.4 BCFe (325 MMCFeD). Mariner
posted capital expenditures
of $1.4 billion last year,
increasing proved reserves
17% to a record 973.9 BCFe (70%
proved developed) at year end and
replacing 217% of reserves. Mariner
was successful in 20 of its 25 offshore
wells drilled in 2008. Mariner also has
four rigs drilling in the Permian Basin,
where it drilled 122 wells last year.
• ngas Resources reported
57 BCFe in proved reserves at y/e
2008, up 20% over 2007. Including
PUD locations, however,
proved reserves fell from
105 BCFe to 78 BCFe in the same
period. Production increased 13% to
3.7 BCFe (11 MMCFeD) last year.
During 2008, NGAS began horizontal
drilling in its Leatherwood field
(Appalachia), drilling 20 such wells
(56% WI) with 3,500-ft. laterals in the
Devonian shale. Initial 30-day produc-
tion rates averaged 309 MCFD.
• northern Explorations and an
operator are shooting seismic in two
Central Valley, California, gas projects.
Norex will have 50% WI in the initial
two wells. The first gas well targets
existing seismic data that indicates a
50 foot pay zone at 8,000 ft. The com-
pany is also negotiating a majority
working interest in two gas projects in
California which show the potential to
contain up to 50 BCF.
• occidental Petroleum reported
2.98 BBOE of proved reserves at year-
end 2008 (74% proved developed), up
from 2.87 BBOE at the end of
2007. Oxy added 463 MMBOE
last year, but then lost 127 MMBOE
in negative price revisions. Occidental
spent $4.4 billion on exploration and
development activities in 2008 and
another $3.5 billion on property acquis i-
tions in the Rockies and Permian Basin.
E&P Briefs
NACOGDOCHES/RUSK CO., TX
4,796-Acres.
HAYNESVILLE SHALE PLAY
Depth: 10,400 - 11,400 Ft.
Surrounded By Haynesville Production.
Seller Is Farming Out Haynesville/CV Lime.
Haynesville Produces 37-45 BCFE/Section.
6.5 BCFE/Well On 80-Acre Spacing.
Total Recoverable Rsrvs: 277-337 BCFE
DV 5180
Call Ronyld Wise
For a Showing
713-650-1212
dv
www.plsx.com
Property Review?
PLS offers quick turnarounds on engineering and technical property reviews
Contact Richard Martin, 713-650-1212 To Learn More
Rates $75-$250 per hour
Mountain States
Edition Available!
888-622-9943
Mountain States Edition
www.donsdirectory.com
–Listings For Sale
PAGE 17 PROSPECTS & PROPERTIES
WASHINGTON
PACIFIC NORTHWEST GAS PROSPECT
>44,000-Net Mineral Acres.
ASTORIA BASIN 500 BCF
Proven Eocene Sand Reservoir.
Drilling Down To Crescent Volcanics.
Drilling Late 2008.
SEEKING 40% PARTNER TO DRILL
Seller Will Deliver 80% NRI.
Est Reserves: 500 BCF
Infrastructure & Facilities Nearby.
CALL LANDMAN FOR SHOWING
DV 5420
WAHKIAKUM & COWLITZ CO., WA
50-Well Project. 55,000-Net Mineral Acres.
ASTORIA BASIN
Obj 1: Cowlitz Sandstone. 3,200 Ft.
Obj 2: McIntosh Sandstone. 4,500 Ft.
Defined By Geophysics & Geology. ~700 BCF
SEEKING INDUSTRY PARTNERS
49% NonOperated WI; 80% NRI (Lease)
Est Well Reserves: 1.5 - 10 BCF
Est Project Reserves: 700 BCF
Dry Hole: $1,840,000; Compl: $1,310,000
CALL LANDMAN FOR SHOWING
DV 5159
ALASKA
ALASKAN OPPORTUNITIES
50-Leases.
COOK INLET BASIN
Multiple Prospects Areas In Basin.
Obj 1: Hemlock, Tyonek & Beluga Fms
Obj 2: Sterling Formation
100% WI Available. >6.0 TCFE
Potential Industry Alliances Possible.
Est Rsrvs/Prospect: 300 MMBO & 1.0 TCF
Cooperative Industry Effort.
New Government Tax Benefits.
New Tax Benefits - WORTH THE LOOK
CALL GEOLOGIST TO LEARN MORE
DV 5840L
COOK INLET ALASKA PROSPECT
2-Proposed Wells. 225,000-Acres.
BELUGA AREA
Tyonek Sands. 4,000 Ft.
Coal-Sourced Gas Play. 50 BCF
Multiple Prospects Identified.
2-D Seismic Data, Geology/Geophysics.
NonOperated WI For Sale.
Est Project Reserves: 50 BCF
DHC: $3,200,000; Compl Cost: $1,000,000
DV 5033
COOK INLET, AK PROSPECT
122,000-Acres.
Conventional Natural Gas Prospect.
2-D Seismic Available.
READY TO DRILL 1.0 TCF
40% Working Interest For Sale.
Est Reserves: ~1.0 TCF
Gas Pipeline Located On Property.
Excellent Natural Gas Market.
CALL CALIFORNIA GENERATOR
DV 2719
NORTH SLOPE & BEAUFORT SEA
10-Leases.
STINSON FIELD NORTH SLOPE
East Of Point Thomson Field
Tertiary, PreTertiary, PreCambrian Horizons.
— Drillable From Onshore North Slope.
PROVEN PRODUCTION
Leases Exceptionally Researched.
100% WI Available.
Potential Industry Alliances Possible.
Analog Field Has 300 MMBO & 4.0-7.0 TCF.
Cooperative Industry Effort.
New Government Tax Benefits.
RARE OPPORTUNITY - GIANT RESERVES
COMPANY MAKER OPPORTUNITY
CALL GEOLOGIST FOR MORE INFO
DV 5480L
NORTH SLOPE., AK PROSPECT
135,000-Acres.
PRUDHOE BAY
KUPARUK RIVER 250 MMBO
Obj 1: Lisburne Carbonates
Obj 2: Kuparuk C Sand Play
Defined By Seismic Data.
Infrastructure Near Prospect.
100% OPERATED WI Available.
Analogs Yield Giant Oil Accumulations.
Under-Explored On Block.
Potential Reserves: 250 MMBO
Expirations from 2011 - 2012.
Sunk Land Costs: $3,800,000
CONTACT SELLER FOR MORE INFO
DV 5482
NORTH SLOPE., AK OFFERING
600,000-Acres.
Target Multiple Reservoir & Source Rocks
Extensive 3-D Seismic Coverage.
20-30% WI Available. 12.5%-16.6% RI.
Oil And Gas Potential AK/DV
Potential Rsrvs: 450 MMBO & ~4.0 TCF
Leases Expire In 2014.
SELLER HAS MORE INFORMATION
DV 5570
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SOME BRAND NEWPLAYS
We’ve done our homework and your legwork
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So you can see and bid for these available leases, simply by clicking
NEW MEXICO
CHAVES CO., NM PROSPECT
1-Proposed Well. 2,560-Acres.
PERMIAN 1.5 MMBO
Targeting Strawn Formation. 6,800 Ft.
SubSurface Geology & Geophysics.
100% OPERATED WI; 76% NRI
Est Reserves/Well: 200 MBO
Est Reserves/Project: 1.0-1.5 MMBO
DHC: $600,000; Compl: $350,000
LANDMAN HAS MORE DETAILS
DV 5550
LEA & EDDY CO., NM PACKAGE
8-Wells.
Located In Various Fields. PERMIAN
Producing From Morrow Formation.
NonOperated WI & ORRI Available.
AGENT HAS MORE DETAILS
PP 5155RR
LEA CO., NM LEASEHOLD
480-Acres.
TEAS AREA LEASE
Morrow, Atoka, & Bone Spring Potential.
Seller Will Deliver 80% NRI.
Lease Expires: September 1, 2012
PLS HAS EXACT LOCATION OF LEASE
L 5048
LEA CO., NM MINERALS
±1,500-Net Mineral Acres.
MINERALS FOR LEASE MINERALS
Miscellaneous Leases Near Tatum, NM.
~8 Adjacent Producing Zones Identified.
3-Year Lease: $200/Acre + 75% Net
AGENT HAS MORE DETAILS
M 6468L
LEA CO., NM PROSPECT
4-Proposed Wells.
PERMIAN 625 MBO
Obj 1: Devonian Formation. 12,300 Ft.
Obj 2: Bough C Formation (3 Wells)
Located On Faulted Anticline.
Defined By 3-D Seismic & Well Control.
87.5% Working Interest; 75% NRI
Est Devonian Well Rsrvs: 250 MBO
Est Bough C Well Rsrvs: 125 MBO
Est Project Reserves: 625 MBO
ASK SELLER FOR PASSWORD
— TO ONLINE DATA ROOM
DV 3787
LEA CO., NM OFFERING
1-Proposed Well. 320-Acres.
DELAWARE BASIN >1.8 MMBOE
Obj 1: Morrow Formation. 12,600 Ft.
Obj 2: Wolfcamp Formation. 11,100 Ft.
Other Potential Formations Identified.
3-D Seismic & SubSurface Geology.
100% OPERATED WI; 75% NRI
Est Morrow Reserves: 5.0 BCF
Est Wolfcamp Reserves: 1.0 MMBO
DHC: $3,000,000; Compl: $1,500,000
DV 5301
LEA CO., NM SALE PACKAGE
7-Wells. 1-SWD. 560-Acres.
LYNCH FIELD PERMIAN OIL
Yates - Seven Rivers Oil Production.
100% OPERATED WI; 80%-87.5% NRI.
Gross Production: 26 BOPD
Avg Net Cash Flow: $40,000/Mn
SELLER LAND DEPT HAS DATA
PP 5367DV
NEW MEXICO
NEW MEXICO DEEP GAS PLAY
~106,000-Net Acres .
ALBUQUERQUE BASIN >10 TCF
DEEP GAS PLAY. 8,000 Ft. - 18,000 Ft.
1,000–2,000 Ft. Mature Mancos Shale.
Multiple Tertiary & Cretaceous Gas Targets.
Drill Sites Identified & Ready To Permit.
1,000-Line Miles ReProcessed Seismic.
SEEKING JOINT VENTURE PARTNERS
Multi Pipelines w/Capacity Traverse Acreage.
Large Proprietary Geologic & Geophysical
— Database Developed.
Est Reserves: >10 TCF
Est IP: 5-15 MMCFD & EUR: 5-15 BCFE
Primarily Fee Leases/No Permitting Issues.
Drill & Completion: $6,000,000
PART OF A LARGER OFFERING
CONTACT AGENT FOR UPDATE
DV 3761
NEW MEXICO OIL & GAS PLAYS
Sizeable Acreage Position. 4-Counties.
SAN JUAN BASIN
RIO GRANDE RIFT FEE LEASES
Mancos Shale As Source Rock.
Multiple Cretaceous Targets.
Large Proprietary Geologic & Geophysical
— Database Developed.
SEEKING JOINT VENTURE PARTNERS
Est Albuquerque Rsrvs: >10 TCF
Est Santa Fe Hagen Rsrvs: 50-100 MBO
3-Drill Sites Permitted & Others Identified
— Ready To Be Permitted.
OFFERS DATE PASSED. CALL AGENT.
DV 3760
NEW MEXICO OIL CBM PLAYS
75,000-Net Acres. 1-ShutIn Included.
SANTA FE HAGEN EMBAYMENT OIL
Multiple Cretaceous Targets. 2,500-7,500 Ft.
Mancos Shale Source Rock.
39-41 API Light Sweet Crude.
SEEKING JOINT VENTURE PARTNERS
Large Proprietary Geologic & Geophysical
— Database Developed.
Primarily Fee Leases.
MENEFEE CBM
Est Recoverable Reserves: 50-100 MBO
Est IP: 30-125 BOED & EUR: 40-75 MBOE
Single Zone-MultiZone Commingled Expected.
Drill & Completion: $1,200,000
PART OF A LARGER OFFERING
CONTACT AGENT FOR UPDATE
DV 3762SI
ROOSEVELT CO., NM PROSPECT
4-Proposed Wells.
PERMIAN ~1.0 MMBO
Obj 1: Devonian Formation. 11,800 Ft.
UpThrown Side Of Faulted Anticline.
Seller Has Seismic Data Available.
87.5% Working Interest; 75% NRI
Est Well Reserves: 250 MBO
Est Project Reserves: 1.0 MMBO
ASK SELLER FOR PASSWORD
— TO ONLINE DATA ROOM
DV 3759
ROOSEVELT CO., NM WILDCAT
6-Well Project. 320-Acres.
PERMIAN BASIN
NORTHWEST SHELF PERMIAN
Devonian Objective. 12,500 Ft.
Pennsylvanian Bough C. 9,800 Ft.
3-D Seismic. SubSurface Geology.
87% OPERATED WI; 75% NRI
Total Prospect Reserves: 1.0 MMBO
Devonian Est Reserves: 250 MBO/Well
Dry Hole: $2,000,000; Compl: $500,000
ASK SELLER FOR PASSWORD
— TO ONLINE DATA ROOM
DV 3984
apache targets geauxpher production by may
Apache plans to spend $3.5 to $4.0 billion on exploration and development
this year targeting annual production growth of 6% to 14%. In the Gulf of
Mexico, the Geauxpher field, a large gas discovery at Garden Banks 462, is pro-
jected to commence production in May at a net rate of 50 MMCFD.
In Canada’s Horn River Basin, Apache plans to continue to
develop the optimum strategy for its Ootla Shale well com-
pletions in 2009. The company completed seven horizontal
Ootla wells last year, the last of which had a 10-stage frac and gross estimated
reserves of 7.4 BCF.
In Australia, the 20,000 BPD Van Gogh development remains on schedule
with first production expected in the second quarter. The Pyrenees development
also remains on track for a Q1 2010 start-up for an additional 20,000 BPD.
Earlier this year Apache reported
three new field discoveries in west-
ern Egypt that tested a total of 80
MMCFD and 5,909 BOPD – all
from Jurassic formations. In all,
Apache averaged 74,705 BOPD and 290 MMCFD in Egypt last year, but plans
to drop some of its 42 rigs running in the area this year.
Apache’s volumes declined 5% in 2008 to 534,000 BOEPD as a result of the
June 3 pipeline explosion and fire at Apache's Varanus Island hub offshore west-
ern Australia as well as the Gulf Coast hurricanes. Had those events not occurred,
2008 production would have increased by 2.0%.
Apache replaced 122% of production last year, including 118% through the
drill bit. But proved reserves declined 2% in 2008 to 2.4 BBOE as a result of
lower commodity prices. Nearly all of the reserve revisions were in North
American assets.
For 2008, Apache reported net income of $706 million despite a $3.6-billion
write down on lower commodity prices. Excluding the write-down and certain
other after-tax items net income was $3.8 billion. Apache exited 2008 with a low
debt- to-cap of 23% and has $2.3 billion in available credit facilities.
aTP targets Telemark completion
ATP Oil & Gas hopes to have its deepwater Telemark Hub online by year
end. In the northern portion of the hub (Mississippi Canyon), ATP is nearing
completion on the 25,000-BOPD and 60-MMCFD ATP Titan floating platform.
ATP has already spud three wells in the area that are drilling
towards ~17,000 ft. TD. In the southern area of Telemark,
ATP plans to drill a subsea well on Atwater Valley Block 63
and connect it back to ATP Titan.
On the GOM Shelf, ATP has placed two wells on production at High Island A-
589. The wells were completed in the 9,800-ft. and 10,000-ft. sands. Metrics
were not released. The company is
also targeting first production from
three wells at South Marsh Island
190 in the third quarter.
This January, the Discovery Pipeline was restored to service, enabling ATP to
resume production at its Gomez Hub (100% WI, operator) in Mississippi Canyon
711. The Mississippi Canyon 711 #8ST2 well is now being completed.
In February, ATP received $150 million in financing from GE Energy
Financial Services in order to own and operate a floating production unit in the
deepwater Gulf of Mexico. GE gained a 49% limited partnership stake, marking
its first investment in a floating production facility. ATP remains operator and
continues to hold 100% WI in the deepwater Gomez field.
The facility will sit 80 miles south of New Orleans. Known as the ATP
Innovator, it will process up to 20,000 BOPD and 100 MMCFD. The partnership
plans to process additional reserves from a third party producer by 2010.
ATP purchased and converted the unit from a drilling semi-submersible rig
into a floating production facility in 2005.
ATP estimates it added about 100 BCFe in proved reserves, while producing
57 BCFe (156 MMCFeD) last year and selling 68.5 BCFe of reserves in-place
last year. This year, the company has set a capex budget of $300 to $500 million.
Offshore
Apache exited 2008 with a low
debt- to-cap of 23% and has $2.3 billion
in available credit facilities.
The ATP Titan platform will process
25,000 BOPD and 60 MMCFD.
ENERGY TRADE
PRODUCER
SERVICES
713.874.8400
dteenergy.com
Maximize Competition
Maximize Value
www.energynet.com
www.plsx.com
DELTA CO., CO PROJECT
SOUTH PICEANCE BASIN
Est Project Reserves: +/- 10 BCF
DV 3992
• Petro Resources is participat-
ing in Goodrich Petroleum’s Surprise
prospect in Nacogdoches Co., Texas.
The first four wells were suc-
cessful with a fifth drilling
ahead. The Hill #1 (10% WI),
a Bossier Sand well, posted initial
production of 9.4 MMCFD and the
Tucker #1 (5% WI), a Bossier Shale
well, initially produced 600 MCFD.
The Lilly #1 (10% WI) and Grigsby
#1 (10% WI) were completed in the
Travis Peak with IPRs of 3.0 MMCFD
and 2.9 MMCFD, respectively.
• Precision Petroleum purchased
interests in four wells in Oklahoma,
three in Garvin County and one in
Pottawatomie Co. Combined produc-
tion is 40 BOEPD. Elsewhere, Preci-
sion is participating in a 10-well drilling
program in the Powder River Basin
in Montana.
• Probe Resources ramped up
volumes on its South Timbalier 214 A-6
Sidetrack #1 well in the Gulf of Mexico
to 35 MMCFD and 450 BPD of conden-
sate with a flowing tubing pressure of
8,600 psi. Probe holds 100% WI and a
70% NRI in the well.
• Ram Energy Resources sur-
passed its production guidance of
2.55 MMBOE (~7,000 BOEPD) last
year. RAM has set a capex of
$40-45 million in 2009 to keep
volumes flat. RAM plans to drill
45 wells in Burkburnett, Texas, and to
undertake a number of recompletions
in Pontotoc Co., Oklahoma. RAM also
has 27 PUD locations, 13 probable
locations and 31 possible locations in
South Texas for the Vicksburg and
Wilcox formations.
• Royale Energy encountered gas
with its newest discovery, Lonestar
East, in Texas. The well was drilled to
6,400 ft. TD and encountered 24 ft. of
pay in the Forbes formation. Only the
lower 10 ft. was perforated, flowing at
an initial test rate of 1.45 MMCFD.
While testing, Royal encountered three
shallower zones that may have future
gas potential.
• samson oil & gas is reworking
the Leonard #1-23H (10% WI) in North
Dakota’s Williston Basin. Prior to the
work over, the well was free flowing at
around 300 BOPD.
• saxon oil reported proved
reserves at y/e 2008 of 482,943 BO
and 3.0 MMCF, a 12.5% in oil reserves
and a 36.7% increase in
gas reserves from a year
ago. Estimated probable reserves
(unrisked) increased 38% from 43,247
barrels to 69,702 barrels, while proba-
ble gas reserves increased 40% from
274 MCF to 459 MCF.
• south Texas oil estimates its
total proved reserves were 5.1 MMBOE
(12% developed) at y/e 2008, up from
581,000 BO a year ago. The company
has set a 2009 capex of $10 million.
Most reserves are in the Giddings and
Bastrop fields. Drilling focuses primarily
on the Austin Chalk, Georgetown and
Buda formations, where the company
has an inventory of 27 laterals which
range from 500 to 5,000 feet.
• w&T offshore posted sales
volumes of 56 BCF and 7.0 MMBO
last year on capital expenditures of
$774.9 million, which is double
what it spent in 2007. W&T
completed 18 of 24 exploration
wells last year, 16 on the shelf and
five on the deep shelf. W&T began
the year with 639 MMCFe in proved
reserves and ended it 29% lower
with 491 MMCFe. This year, W&T has
set a capex budget of $220 to $270
million, targeting volumes of 94 BCFe
(~260 MMCFeD).
–Listings For Sale
PAGE 18 MARCH, 2009
COLORADO
MOFFAT CO., CO PROSPECT
80-Potential Wells. 19,620-Gross Acres.
SAND WASH BASIN
Obj 1: Mancos Shale. 18,000 Ft.
Obj 2: Frontier / Dakota. 18,000 Ft.
Large Structure UnTested At Depth. 250 BCF
2-D Seismic & SubSurface Geology.
100% OPERATED WI; 80% NRI
Est Reserves/Well: 3.0 BCF
Est Reserves/Proj: 250 BCF
DHC: $3,000,000; Compl: $2,000,000
LAND MANAGER HAS MORE INFO
DV 5792
RIO BLANCO CO., CO SALE PKG
28-Wells. 5-ShutIn. 14-TA’d. 1-SWD.
PICEANCE BASIN. ~9,520-ACRES.
WHITE RIVER DOME FIELD
Upper Cretaceous & Mesa Verde Production.
62-PUD Mesa Verde & Wasatch Locations.
Field Being Developed on 40-Ac Spacing.
Newly Developed/Productive lles Sands.
89% Ave Working Interest; 70% Ave NRI
Est Gross Production: ~3.5 MMCFED
Est Net Production: ~2.6 MMCFED ~2.6
Net Cash Flow: $327,500/Mn MMCFED
Est PROV Gross Reserves: 108 BCFE
Est PROV Net Reserves: ~78 BCFE
Operators In Area Utilizing 20 & 10 Ac Sp—
Represent Significant P2/P3 Reserve Base.
AGENT HAS STATUS UPDATE
PP 3952DV
ROUTT CO., CO PROPERTY
2-Oil Wells.
GRASSY CREEK FIELD 13 BOPD
Wells Have Produced Gas Before.
Net Production: 13 BOPD
Avg Net Cash Flow: ~$36,600/Mn
AUCTION ENDS MARCH 18, 2009
PP 6466AU
ROUTT CO., CO PROSPECT
16-Potential Wells. 2,902-Gross Acres.
SAND WASH BASIN >7.0 MMBOE
Obj 1: Mancos/Niobrara. 6,000-10,000 Ft.
Obj 2: Frontier/Dakota. 10,000-11,500 Ft.
2-D Seismic & SubSurface Geology.
100% OPERATED WI; 80% NRI
Analogs Have Cumm’d >1.5 MMBO Each.
Est Rsrvs/Well: 100 MBO - 1.5 MMBO
— PLUS 500-900 MMCF
Est Rsrvs/Proj: 3.0-5.0 MMBO & 25 BCF
DHC: $2,500,000; Compl: $3,500,000
LAND MANAGER HAS DETAILS
DV 5793
MONTANA
CUSTER CO., MT PROSPECT
162,000-Gross & 123,000-Net Acres.
WILLISTON BASIN
Shannon & Eagle Sandstone. 4,000 Ft.
Muddy Sandstone. 5,500 Ft.
100% Working Interest; 80% NRI MULTIPAY
Est Well Reserves: 750 MMCF
Est Project Reserves: 200-400 BCF
DHC: $250,000; Compl: $200,000
REQUEST PACKAGE TO LEARN MORE
DV 5531
DANIELS CO., MT PROSPECT
108-Potential Wells.
138,000-Acres.
WILLISTON BASIN
Obj 1: Bakken. 7,600 Ft. 151 MMBO
Obj 2: Charles. 6,500 Ft.
Mission Canyon Potential Identified.
Generated With SubSurface Geology.
100% OPERATED WI; 80% NRI
Est Reserves/Well: ~1.4 MMBO
Est Reserves/Project: 151 MMBO
DHC: $4,500,000; Compl: $1,000,000
DV 5622
MONTANA PROSPECT OFFERING
71,694-Gross & 42,245-Net Acres.
SHERIDAN & DANIELS CO.
Williston Basin ~5.0 MMBOE
Horizontal Bakken Shale Opportunity.
MultiZone Potential Identified.
Avg 7,500 Ft. Deep w/ 9,500 Ft. Horiz Leg.
SubSurface Geology. Gravity & Magnetics.
75% WI Available; 80% NRI (Lease)
Complete Operations Available
Est Reserves: ~4.5 MMBO & 2.5 BCF
Drill & Completion: $5,500,000
PROSPECT GENERATOR HAS INFO
DV 5673HZ
NORTHERN MONTANA PROJECT
90,000-Net Acres.
KEVIN-SUNBURST DOME MT PROJECT
Prolific & Mature Region.
MultiZone Potential. 500 - 3,300 Ft.
Surrounded By Shallow Production.
EXPERIENCED PARTNERS
50% Working Interest Available.
Infrastructure Has Been Established.
Est Reserves: 25 MMBO & 100 BCF
LOW WELL COSTS
CALL PLS TO LEARN MORE
DV 5763
UTAH
CARBON CO., UTAH PROSPECT
40-Potential Wells. 8,065-Acres.
Obj 1: Emery Target
Obj 2: Forron Potential 100 BCF
100% OPERATED WI; 80% NRI
Est Reserves/Well: 3.0-4.0 BCF
Est Reserves/Project: 100 BCF
DHC: $1,000,000; Compl: $1,000,000
SELLER HAS MORE DETAILS
DV 5134
CENTRAL UTAH PROSPECT
~108,612-Gross & 66,700-Net Acres.
SEVIER THRUST & HINGELINE PLAY
Dakota, Feron, & Navajo Sand Targets.
Twin Creek Limestone Potential.
Est Reserves: 1.0 BBOE
1.0 BBOE
CALL UTAH PROSPECT GENERATOR
DV 5555
EMERY CO., UT PROSPECT
2-Phase Project. 240-Acres.
UINTA BASIN >390 MBO
2 Re-Entry Wells, Then 4 Step-Out Wells.
Targeting Triassic Moenkopi Formation.
Proposed Depths: 3,400 - 4,000 Ft.
Sinbad Lime Potential. 3,600-3,800 Ft.
75% Working Interest; 87.5% NRI
Significant Development Opportunity.
Est Reserves/Well: 65.2 MBO
Est Reserves/Project: 391.2 MBO
DHC: $75,000 Re-Entry, $190,000 New
Compl: $65,000 Re-Entry, $175,000 New
SELLER HAS MORE DETAILS
DV 5501RE
LARGE UTAH GAS PROJECT
5-Well Pilot. ~75,000-Lease Acres.
CEDAR CITY & KANEB
KANE & GARFIELD UTAH CBM
Obj: Dakota Smirl & Bald Knoll Coals.
Drilling & Producing Depth: 500-2,500 Ft.
Coals Thickness: 20-30 Ft.
50% WI Available In 3-Phase Project.
SHALLOW GAS
SEEKING PARTICIPANTS TO EVALUATE
Est Total Reserves: 250-750 BCF
1000-Well CBM Project.
PLS ASSISTING PROJECT GENERATOR
DV 4339L
RICH CO., UTAH PROSPECT
1 To 10-Proposed Wells. 5,525-Net Acres.
WYOMING THRUST BELT
Obj 1: Madison Formation. 6,400 Ft.
Obj 2: Bighorn Formation. 9,000 Ft.
Defined By Geophysics. 200+ BCFE
25%-50% WI; 80.75% NRI (Lease)
100% Operations Available.
Est Project Reserves: 200 BCFE
Ready To Drill.
Dry Hole Cost: $2,200,000
COLORADO PROSPECT GENERATOR
DV 5994
TOOELE CO., UTAH PROSPECT
9,355-Gross & Net Acres.
SEVIER THRUST & FOLD BELT
Twin Creek Limestone.
Depth: 9,500 Ft. 500 MBOE
Navajo & Diamond Creek Sandstone.
100% Working Interest Available.
Analogs Producing 10,000 BOPD.
Est Reserves: 500 MBOE
CALL UTAH PROSPECT GENERATOR
DV 5910
UINTAH & GRAND CO., UT PKG
25-Wells. 6-SI. 3-Compl.
1-Well Location.
UINTA BASIN (16,802-Net Acres)
FLAT ROCK FIELD (3-Areas) 1,426 MCFED
10 Commercially Productive Zones.
Wingate, Entrada, Morrison, Dakota
Cedar Mnt, Mancos, Mesaverde, Wasatch.
Significant Resource Play Potential.
Operated & NonOperated WI For Sale.
Gross Production: 22 BOPD & 8,963 MCFD
Net Production: 1,426 MCFED
Est Proved Net Rsrvs: 40.3 BCFe
118 Sq Mi Of 3-D Seismic Available.
3rd Party Engineering Report Available.
PLSX.COM FOR ONLINE SALE PACKAGE
PP 4214DV
UTAH OIL EXPLORATION PROJECT
4 To 5-Wells.
Targeting Ismay & Desert Creek Fm’s.
Pennsylvanian Aged Objectives.
Proposed Depths: 5,000-6,000 Ft.
Proprietary Technologies. G&G. 25-100 MBO
SEEKING 75% WI PARTNER
Offsetting Field Has Cumm’d >440 MBO.
Est Reserves: 25-100 MMBO
Total Project Cost: $4,611,000
Total Est Net Revenue: $143,257,000
CONTACT PLS TO LEARN MORE
DV 5799
MONTANA
RICHLAND CO., MT MINERAL LEASE
960-Gross & 160-Net Acres.
ELM COULEE FIELD
Bakken Shale Play. MINERALS
Offsetting Wells Operated By —
EOG And Headington.
CONTACT SELLER W/ LEASE OFFERS
M 5529L
ROOSEVELT CO., MT PROSPECT
100-Potential Wells. 110,000-Acres.
WILLISTON BASIN
Obj 1: Bakken. 8,900 Ft.
Obj 2: Red River. 11,000 Ft. >53 MMBO
Multiple Targets Identified.
3-D & 2-D Seismic Data, G&G.
90%-100% OPERATED WI; 80% NRI
Est Reserves/Well: 536 MBO
Est Reserves/Proj: 53.6 MMBO
DHC: $4,500,000; Compl: $1,000,000
DV 5623
SHERIDAN CO., MT FARMOUT
45,000-Net Acres.
BAKKEN OPPORTUNITY BAKKEN FO
Near Old Vertical Bakken Production.
Recent Bakken DST w/ Oil Recovery.
3-D Seismic Coverage Available.
GEOLOGIST HAS MORE DETAILS
FO 5870
SHERIDAN CO., MT PROSPECT
35,000-Acres.
BAKKEN SHALE BAKKEN
Obj 1: Bakken Horizontal.
Obj 2: Three Forks, Nisku. 8,000 Ft.
Defined By SubSurface Geology.
75% OPERATED WI; 75% NRI
Est Reserves/Well: 400 - 800 MBO
— PLUS 1.0 BCF Per Well
DHC: $3,000,000; Compl: $2,000,000
GENERATOR HAS MORE DETAILS
DV 5744
TOOLE CO., MT PROSPECT
1-Well. 40-Acres.
Western Canadian Sedimentary Basin
Obj 1: Bakken Shale. 3,500 Ft.
Obj 2: Cretaceous Sands ~14 MMBO
SubSurface & Surface Geology.
49% NonOperated WI; 80% NRI (Lease)
Est Reserves/Well: 200-500 MBO
Est Reserves/Project: 7.0-14 MMBO
DHC: $900,000; Compl: $1,700,000
CALL MICHIGAN GENERATOR
DV 5852
NORTH DAKOTA
DUNN CO., ND PACKAGE
138,000-Gross & ~5,880-Net Acres.
WILLISTON BASIN
Producing Wells w/ Additional Acreage.
Horizontal Bakken Shale.
PP/BAKKEN
Sanish/Three Forks Potential.
Avg 9,500 Ft. Deep w/ 9,500 Ft. Horiz Leg.
Several Wells Currently Being Completed.
.05-4% Non-Operated W.I. Available
Cumm’d To Date: ~771 MBO & 390 MMCF
YOUNG PLAY - ~200 Days Old.
SIGNIFICANT PUD LOCATIONS
Additional Well D&C: $6,500,000
PROSPECT GENERATOR HAS DATA
PP 5672DV/HZ
DUNN CO., ND PROPERTY
27-Oil Wells. 6,000-Net Acres.
BAKKEN SHALE PP/ND
Small NonOperated WI Available.
Net Cash Flow: $28,000/Mn
SELLER HAS MORE DETAILS
PP 5254
NORTH DAKOTA LEASEHOLDS
142-Lease Options.
BAKKEN SHALE POSITIONS
238,949-Gross & 211,677-Net Acres.
3-5 Year Lease Terms. LEASES
All Terms Negotiable.
CONTACT GEOLOGIST FOR INFO
L 5516
NORTH DAKOTA LEASES
37-Wells. ~91,800-Net Acres.
WILLISTON BASIN
Burke, Mountrial, Dunn, McLean
& Mercer Counties. 1,465 BOED
Bakken Production & Leasehold.
120-Potential Drilling Locations (640-Ac Sp)
Federal, State and Fee Leases.
77% NRI Delivered.
Gross Production: 15,020 BOED
Net Production: 1,465 BOED
Net Cash Flow: $1,570,000/Mn
5-NonOperated Rigs Drilling On Acreage.
~75,800-Net WER Acres.
Leases Expire in 2009 – 2018
AGENT SAYS CA REQUIRED FOR DATA
PP 3885DV
STARK CO., ND PROSPECT
~25,000-Gross & ~16,000-Net Acres.
BAKKEN
Twenty Five (25) Potential 640-Acre Units.
Multiple PayZones Identified.
Seller Has Additional Info. ND/DV
Leases Expire: Late 2013
DV 5458
NEW MEXICO
SAN JUAN CO., NM PROPERTIES
16-Gas Wells.
BASIN FRUITLAND FIELD ~1,400 MCFD
Various OPERATED & NonOp WI & NRI.
Net Production: 1,399 MCFD
Avg Net Cash Flow: ~$28,000/Mn
AUCTION ENDS MARCH 18, 2009
PP 6467AU
COLORADO
ADAMS & WELD CO., CO PROPERTY
1-Oil & Gas Package.
Varying WI & NRI Available. ~450 MCFED
Net Production: 26 BOPD & 293 MCFD
Well Cumm’d ~1.2 MMBO & ~12.2 BCF.
Avg Net Cash Flow: ~$33,000/Mn
AUCTION ENDS MARCH 18, 2009
PP 6464AU
DELTA CO., CO PROJECT
40-Well Drilling Program. ~13,500-Acres.
SOUTH PICEANCE BASIN
Obj 1: Dakota Sand. 2,300 Ft.
Obj 2: Cedar Mt & Morrison Sand. 3,700 Ft.
SubSurface Geology.
100% OPERATED WI; 75% NRI +/- 10 BCF
Est Well Reserves: 250 MMCF
Est Project Reserves: +/-10 BCF
Dry Hole: $145,000; Compl: $75,000
DV 3992
KIOWA CO., CO PROPERTIES
3-Producing Wells.
JACE FIELD ~50 BOED
2-ShutIn. 1-SWD. 1-Inj.
12%-14.8% NonOperated WI; 11.95% NRI
Net Production: 49 BOPD & 10 MCFD
Avg Net Cash Flow: ~$21,000/Mn
AUCTION ENDS MARCH 18, 2009
PP 6465AU
KIT CARSON & YUMA CO., CO GAS PLAY
5-Horiz Develop Wells. 35,135-Net Acres.
NIOBRARA CHALK
SOUTHERN EXTENSION HORIZONTAL
Drill Horizontal Test Wells-Shallow Depths.
Chalk Has High Porosity/Low Permeability.
Known Gas Producing Interval—Gas
- Saturated Reservoir Over Extensive Area.
SEEKING JV PARTNERS TO DRILL
36 Cheyenne Plains Pipeline Close By.
>500 Potential Drilling Locations.
Est Recoverable Rsrvs: 0.5-1.0 BCF/Well
Horizontal Lateral Development Potential
- Can Increase Recoverable Gas-6.0 BCF
Seller To Develop Leasehold Acreage.
SUMMARY PACKAGE AVAILABLE
DV 3877HZ
LARIMER CO., CO PROSPECT
10-Potential Wells. 2,560-Acres.
DJ BASIN
Muddy Formation. 4,500 Ft. ~2.0 MMBO
2-D Seismic & SubSurface Geology.
50% OPERATED WI; 85% NRI (Lease)
Est Reserves/Well: 250 MBO
Est Reserves/Project: 2.0 MMBO
DHC: $830,000; Compl: $700,000
SELLER HAS DATA TO REVIEW
DV 5747
LOGAN CO., CO PROSPECT
2+ Wells. 200-Acres.
DJ BASIN >500 MBO
O.1 Sands Target. 5,300 Ft.
Defined By SubSurface Geology.
Horizontal Offset - Heavy Oil Discovery.
37% OPERATED WI; 83% NRI (Lease)
Est Reserves/Well: 250 MBO
Est Reserves/Project: >500 MBO
DHC: $700,000; Compl: $160,000
SELLER HAS MORE INFO AVAILABLE
DV 5745
LOGAN CO., CO PROSPECT
1-5 Drill Sites.
DENVER BASIN, BONANZA FIELD
Multi-Pay J & O Sandstones.
3-D Seismic Survey. IP: >135 BOED
Seller Will Deliver 80% NRI.
Net Production: 75 BOPD & 100 MCFD
Est Reserves: 120 MBO & 180 MMCF
DHC: $325,000; Compl: $250,000
CALL OPERATOR FOR MORE INFO
DV 5083
MESA CO., CO PROSPECT
140-Wells. 1,400-Acres.
PICEANCE BASIN ~98 BCF
Obj 1: Mesa Verde Williams Fork. 6,000 Ft.
Obj 2: Mancos Formation. 7,500 Ft.
Dakota Potential Also Identified.
Defined By SubSurface Geology & OffSets.
100% OPERATED WI; 80% NRI
Est Reserves/10 Acres: ~700 MMCF
Est Williams Fork Reserves: ~98 BCF
DHC: $750,000; Compl Cost: $300,000
CALL PLS FOR SELLER DETAILS
DV 5073
MOFFAT CO., CO OFFERING
13,212-Gross & 10,729-Net Acres.
SAND WASH BASIN
Targeting Mancos/Baxter Formations.
Thickness: 5,000 Ft. CO/DV
Potential For Multi-Stage Fracs.
Nearby Drilling Shows Overpressure.
75% OPERATED WI; 80% NRI (Lease)
CALL EXPLORATIONIST FOR INFO
DV 5161
Visit www.phdwin.com for a
FREE 10 DAY TRIAL!
TRC CONSULTANTS L.C.
Integrated Economics &
Decline Curve Analysis
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Toll Free: (888) 248-8062
direct: (512) 467-2639
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–Listings For Sale
PAGE 19 PROSPECTS & PROPERTIES
UTAH
UTAH PROSPECT FOR SALE
275,000-Acres.
SOUTH CENTRAL AREA
Obj 1: Twincreek. 6,000-10,000 Ft.
Obj 2: Navajo. 6,000-10,000 Ft.
Defined By Geophysics & Geochemistry.
Numerous Potential Wells.
100% OPERATED WI; 80% NRI 1.0 BBO
Est Reserves/Well: 1.0-4.0 MMBO
Est Reserves/Proj: 1.0 BBO
DHC: $1,000,000; Compl: $500,000
SELLER HAS MORE NOTES
DV 5136
UTAH PROSPECT OFFERING
150-Potential Wells. 27,389-Acres.
UINTA BASIN
Obj 1: Green River. 2,600-8,000 Ft.
Obj 2: Wasatch. 8,000-12,000 Ft.
2-D Seismic & Geochemistry. UINTA
100% OPERATED WI; 80% NRI
Est Reserves/Well: 100 MBO & 5.0 BCF
Est Reserves/Proj: 5.0 MMBO & 4.0 TCF
DHC: $1,000,000; Compl: $600,000
SELLER HAS LEGAL LOCATIONS
DV 5133
WYOMING
BIG HORN BASIN ACREAGE SALE
3-Key Areas. 29,811-Net Acres.
CORRAL CREEK, POLECAT, BIG HORN
& SCHUSTER FLATS
Obj 1: Frontier & Muddy Formations
Obj 2: Greybull Potential Identified
Proposed Depths: 8,000-16,000 Ft.
Structural/Stratigraphic Trap.
DV 5119
CAMPBELL CO., WY PROPERTIES
119-Total Wells. 4-PUD Locations.
POWDER RIVER WY / CBM
Producing CBM From Multiple Zones.
Avg 25.5% WI Available; 80% NRI (Lease)
Operations Available On 77 Wells.
Net Production: 207 MCFD
Gas Rates Increasing From De-Watering.
Est Remaining Net Rsrvs: 7.0 BCF
Electrical & Gathering In Place.
GENERATOR HAS MORE INFO
PP 5674DV
CARBON CO., WY DEVELOPMENT
4-Proposed Wells. 1,700-Acres.
Frontier & Wall Creek Formations.
Proposed Depth: ~1,800 Ft. WY/DV
Deep Rights Also Possible.
Niobrara Potential - Needs Frac Job.
49% NonOperated WI; 77% NRI
SEEKING PARTNERS TO DRILL
Current Net Production: ~6.0 BOED
Completion Cost: $1,750,000 (4 Wells)
ESTABLISHED AREA PRODUCER
DV 5769PP
CARBON CO., WY LEASEHOLD
~3,416-Gross/Net Acres.
MESA VERDE CBM PLAY LEASE/CBM PLAY
NonProducing Leasehold.
Shallow CoalBed Methane Development.
All P&NG Rights Over Leases.
100% Federal Lands.
100% WI Available; 87.5% NRI
Pipeline 1 Mile West Of Acreage.
Leases Expire: Late 2009 / Early 2010
AGENT HAS UPDATE AVAILABLE
L 5919DV
CONVERSE CO., WY PROSPECT
5,798-Acres.
READY TO DRILL WY/DV
100% OPERATED WI; 75% NRI
C.A. REQUIRED FOR MORE DATA
DV 5157
CROOK & CAMPBELL CO., WY PROJECT
25-Proposed Wells.
Minnelusa Target. 7,000 Ft. 350 MBO/3D
3-D And 2-D Seismic, Plus G&G.
OVER 60 DEFINED PROSPECTS
50% NonOperated WI; 40% NRI
Est Well Reserves: 350 MBO
Dry Hole: $500,000; Compl: $300,000
DV 5304
CROOK CO., WY PROSPECT
8-Well Project. 1,000-Acres.
POWDER RIVER BASIN
Obj 1: Minnelusa. 8,000 TD. WILDCAT
Obj 2.: Dakota/Muddy. 6,500 Ft.
3-D Seismic. SubSurface Geology.
75% OPERATED; 75% NRI Delivered
Est Well Reserves: 800 MBO
Est Project Reserves: 6.4 MMBO
ASK SELLER FOR PASSWORD
— TO ONLINE DATA ROOM
DV 3967
Read the latest
midstream market news
at www.plsx.com

Tuesday, March 10, 2009 | Volume 2, No. 3
MIDSTREAMNEWS
Serving the Midstream Marketplace with News, Insight & Opportunities





































Regency finally receives Haynesville pipeline funding
ETP launches Tiger Pipeline open season
Midstream firms Regency Energy Partners and Energy Transfer Partners are advanc-
ing separate plans to each build high-capacity pipelines to serve the Haynesville Shale area in
North Louisiana. Regency has finally received financing to construct its Haynesville
Expansion project after forming a joint venture with Alinda Capital Partners
LLC and GE Energy Financial Services.
The initial 1.1-BCFD project will more than double Regency`s
r











Dark road ahead for
midstreamM&A
Midstream M&A activity fell 60% from
2007 to 2008 and is on pace to fall further this
year, according to Crestwood Midstream
Partners founder Robert Phillips, who pre-
sented materials at the Midstream Gas Assets
A&D Summit in Houston this February.
P

































WYOMING
LARAMIE CO., WY PROSPECT
150,000-Acres.
DJ BASIN WY/DV/HZ
Niobrara Formation. 7,500 Ft.
High Potential Well Count.
Defined By SubSurface Geology.
Horizontal Completion Opportunity.
100% OPERATED WI; 85% NRI
Est Reserves/Well: ~160 MBO
Est Reserves/Project: ~10 MMBO
DHC: $930,000; Compl: $231,000
CONTACT SELLER TO LEARN MORE
DV 5748
NATORONA CO., WY OFFERING
640-Acres.
WIND RIVER BASIN WY/DV
Obj 1: Lance & Fort Union. ~10,000 Ft.
Obj 2: Muddy Formation. ~19,000 Ft.
Obj 3: Lakota Formation. ~19,500 Ft.
100% Working Interest; ~81% NRI (Lease)
Total Est Reserves: 756 MBO & 205 BCF
SELLER HAS MORE INFO
DV 5462
NATRONA CO., WY PROSPECT
20-Proposed Wells. 2,322-Acres.
Tensleep Formation. 4,000 Ft.
SubSurface Geology Available. 20 MMBO
100% OPERATED WI; 80% NRI
Est Reserves/Well: 1.0 MMBO
Est Reserves/Project: 20 MMBO
SELLER HAS MORE INFO
DV 5135
SHERIDAN CO., WY CBM ACREAGE
22,000-Net Fee Acres.
POWDER RIVER BASIN
Roland Coals. 170 Ft. - 1,585 Ft.
Roberts/Oedekoven. 2,050 Ft. - 3,575 Ft.
Successful 16-Well Offset To The North.
Two (2) Gas Pipelines Over Acreage. CBM
Drilling Costs: ~$150,000/Well
CONTACT PLS FOR MORE INFO
DV 4122
SWEETWATER CO., WY ACREAGE
~29,810-Gross/Net Acres.
EASTERN GREEN RIVER BASIN LEASES
NonProducing Leasehold.
Multi Reservoirs: Mesa Verde Almond Bars
– Mesa Verde Estuarine, Lewis Turbidites
– and Fractured Shales, Fox Hills Shoreline
– Fort Union Coals & Mesa Verde Fluvial.
100% OPERATED WI. ~83% NRI
89% Federal Lands & 11% State Lands.
Leases Expire 2011 And Beyond.
CONTACT AGENT FOR UPDATE
L 3961DV
SWEETWATER CO., WY PROPERTY
2-Gas Wells. 1-ShutIn. 2,040-Acres.
EAST-CENTRAL WASHAKIE BASIN
Mesaverde Trend
Producing From Upper & Lower Almond.
Depths: 11,556-12,576 Ft.
Drilling Potential - Behind Pipe Reserves.
ReWork Potential On ShutIn Well.
100% OPERATED WI; ~75% NRI
Gross Production: 250 MCFD 188 MCFD
Net Production: 188 MCFD
Net Cash Flow: ~$72,000/Mn
Total Proved Reserves: ~2.5 BCF
AFFORDABLE UPSIDE OPTION
PP 5725DV
SWEETWATER CO., WY PROSPECT
2-Proposed Wells. 640-Acres.
GREEN RIVER
Targeting Baxter Shale (Airport Sandstone).
Proposed Depth: 11,700 Ft.
3-D Seismic & SubSurface Geology.
100% Working Interest; 75% NRI RE-ENTRY
Horizontal Potential Also Identified.
Est Well Reserves: 1.0-2.0 BCF
Est Project Reserves: 2.0-4.0 BCF
Completion Cost: $495,000
DV 5300RE
SWEETWATER & CARBON CO., WY
20-Wells. 1-Well ShutIn. 18-PUD.
WASHAKIE BASIN
WAMSUTTER AREA NONOPERATED
4,484-Gross Acres. 2,116-Net Acres.
Mostly Producing From Almond Formation.
MultiPay & Behind Pipe Reserves in 2-Wells.
Part Of OnGoing Drilling Program By Operator.
5-Well Drilling Program Planned.
30%-50% NonOperated WI For Sale.
Projected Net Prod: 20 BOPD & 3.0 MMCFD
41-Probable & Possible Locations Remain.
Projected Net Cash Flow: $860,000/Mn
Net PROV Reserves: 157 MBO & ~23 BCF
42-Additional Locations w/40-Acre Spacing.
Net Proved PV10: $60,881,000
Remaining PUDs - Low Risk w/ High Return.
AGENT HAS CURRENT STATUS
PP 4869DV
WESTON CO., WY PROSPECT
320-Acres.
POWDER RIVER BASIN
720 MBO
Newcastle (Muddy) Sand Target. 2,950 Ft.
Acerage Allows 5-Infill & 4-StepOut Wells.
75% Working Interest; 87.5% NRI (Lease)
Operations Are Negotiable.
Est Reserves/Well: 90 MBO
Est Reserves/Project: 720 MBO
DHC: $165,000; Compl: $135,000
SELLER HAS MORE DATA AVAILABLE
DV 5475
Internationally, the company is touting its Jubilee field in Ghana to flow
as much as 30,000 BOED by Q4 2010, while Algeria’s El Merk project
will add another 15,000 BOED by 2012. In March, Anadarko’s Tweneboa-
1 discovery well offshore Ghana encountered 70 feet of net pay and has
the potential for significant production. The well discovered a light hydro-
carbon accumulation in similar-age sands as the
nearby Jubilee field.
“Anadarko keeps finding hundreds of millions of barrels worldwide,”
wrote analysts at Tudor Pickering & Holt. “The street is thinking 500
MMBOE predrill, but more work is needed to understand the field size,”
the analysts added. Appraisal is planned in the second half of the year.
The Tweneboa-1 well, on the deepwater Tano License, was drilled,
logged and cased to a depth of 11,790 ft., and is being deepened to further
assess additional pay zones. It was drilled using the Eirik Raude deepwa-
ter rig in a water depth of 3,770 ft., about 16 miles west of the Jubilee
field. The Tano license is 18% owned by Anadarko, with partners Tullow
Oil (49.95%), Kosmos Energy (18%), Sabre Oil & Gas (4%) and the
Ghana National Petroleum Corp (10% carried interest).
Once drilling activities are finished, Anadarko and its partners will con-
tinue activity in the Jubilee field. The partnership also plans to continue an
active program offshore Ghana with initial appraisals of three recent dis-
coveries at Odum and Mahogany Deep on the West Cape Three Points
Block and Tweneboa on the adjacent deepwater Tano license.
In total, Anadarko has added more than one billion equivalent barrels of
net risked captured resources since March of 2008.
anadarko sets capex continued from page 1
Parallel farms out acreage to chesapeake
Parallel Petroleum has partnered with Chesapeake Energy to develop
Parallel’s Barnett Shale assets. Chesapeake already operates the lands with 60%
WI and Parallel will now farm out 100% of its 35% stake on ~25,600 gross acres.
Chesapeake will fund all drilling and completing costs on the assets
through year end 2016. Once the wells pay out and Chesapeake recovers
150% of its costs, Parallel will back in for 17.5%. An estimated 61 wells
will be drilled this year, with a total of 500 wells likely to be drilled under the
entire agreement.
The deal doesn’t put cash in Parallel’s pockets, but it will alleviate more than
$51 million of drilling costs.
“Parallel’s hand was forced as Chesapeake drilled wells (but didn’t complete),
so Parallel had to invest capital but got no cash flow. … Chesapeake clearly wins
and Parallel retains an option on acreage they used to own,” analysts at
Tudor Pickering and Holt said.
At year-end, Parallel had a total of 37 (13.26 net) wells in progress, of
which 34 (12.12 net) wells were shut-in awaiting pipelines or completion,
and 3 (1.14 net) wells were drilling. Of the 34 wells shut-in, 31 (9.49 net) wells
were in the Barnett, 2 (1.75 net) were in the Wolfcamp, and 1 (0.88 net) was in the
Permian Basin. Of the three wells now drilling, 1 (0.01 net) well was drilling in the
Wolfcamp, 1 (0.88 net) in the Permian, and 1 (0.25 net) in the Cotton Valley.
Meanwhile, Parallel has revised its 2009 capex budget to $29.1 million, down
76% from its preliminary $118.8 million budget. Parallel plans to drill seven (4.4
net) wells and rework or convert-to-injection 22 (19.3 net) existing wells this
year. Parallel will allocate $12.1 million to the Permian, $10.2 million for the
Barnett and $5.2 million for the New Mexico Wolfcamp gas project.
Parallel increased its fourth quarter volumes 14% from a year ago to 7,641
BOEPD, although quarterly volumes fell 7% sequentially. New Mexico
Wolfcamp gas volumes rose 16% from the third quarter to 2,456 BOEPD, but
Barnett volumes fell 31% to 1,715 BOEPD, South Texas volumes fell 23% to
283 BOEPD, and Permian volumes fell 17% to 526 BOEPD in the same
period. Proved reserves decreased 13% from year over year to reach 33.2
MMBOE at y/e 2008.
Quicksilver doubles
Barnett volumes
Quicksilver Resources plans to drill
180 operated wells in the Barnett Shale
and to connect 100 of these wells to
sales this year. In the last quar-
ter of last year, Quicksilver
drilled 67 (63.2 net) operated
wells in the Barnett, connecting 58
(53.8 net) of these to sales.
Company production was 327
MMCFeD in Q4, up 48% from a year
ago driven by higher volumes in the
Barnett, where drilling coupled with the
August 2008 Alliance acquisition (40
MMCFeD) increased volumes 96%
year over year. Full year production also
rose from 2007, up 23% to 263
MMCFeD, on capital expenditures of
$1.3 billion (excluding acquisitions).
Quicksilver also plans to drill 175
(92 net) wells at Horseshoe Canyon,
British Columbia, this year.
Quicksilver expects to keep produc-
tion flat with the fourth quarter of
2008, resulting in annual production
growth of 23% in 2009.
noble sets $1.6 billion capex
Flows 30 mmcFd from Tamar well
Noble Energy set a $1.6 billion capex budget for 2009, subject to a 15%
adjustment up or down. Last year’s capex was $2.26 billion. Expenditures in
West Africa, the North Sea, Equatorial Guinea and Israel will represent 30% of
the spending, up from 15% last year. Production should average
slightly higher than 2008 levels but U.S. volumes may decline 5%.
Last year, Noble’s net income reached $1.35 billion, with discre-
tionary cash flow of $2.4 billion. In the U.S. Northern Region (Wattenberg and
Piceance), Q4 production reached a record 83,000 BOEPD, up 3% from a year
ago. Offshore, deepwater Noble volumes fell to 9,000 BOEPD during Q4. The
company ended 2008 with 864 MMBOE in proved reserves, adding 115
MMBOE, or 147% of 2008 production.
Earlier this year Noble flow tested its Tamar gas discovery offshore Israel
(5,500 Ft Water) at 30 MMCFD. The Tamar #1 well drilled to 16,076 feet TD, and
encountered more than 460 feet of net pay. Noble has increased its estimated
gross resource potential at Tamar from 3.1 TCF to 5.0 TCF and plans on keeping
a semi-submersible drilling rig, the Atwood Hunter, offshore Israel for two addi-
tional wells.
Noble will next spud the Dalit exploration prospect in the Michal license. Dalit
has a pre-drill gross resource of 700 BCF with a 40% chance of success. Located
in 4,500 feet of water and 28 miles offshore, Noble is targeting 12,500 feet deep.
Noble operates both the Matan and Michal licenses with 36% WI. Other interest
owners are Isramco Negev 2 (28.75%), Delek Drilling (15%), Avner Oil (15%)
and Dor Gas (4%).
comstock completes
two haynesville wells
Comstock Resources has com-
pleted two horizontal wells with eight
in progress on its 86,032 (70,504 net)
acres (70,504
net) on the
Haynesville
Shale. The
BSMC La 7 #1H well (88% WI) in the
Toledo Bend North field posted an IP
rate of 9.0 MMCFeD, while the R. F.
Gamble 24 #1H (22% WI) initially
produced 14 MMCFeD.
As reported last month, Comstock
has cut its drilling budget from $450
million to $366 million and expects to
drill 41 (34.8 net) wells in 2009 spend-
ing $319 million in Louisiana to drill 30
(25.8 net) Haynesville horizontals and
two (1.6 net) Cotton Valley horizontals.
The company plans to spend $47 mil-
lion in South Texas on five wells.
Comstock reported a net loss of
$96.4 million last quarter despite
increasing volumes 23% off a year ago
up to 164 MMCFeD. However for
thee year, net income reached $252
million. Onshore volumes were 59.9
BCFe up 32%. Comstock discontinued
its offshore operations after selling
Bois d'Arc to Stone Energy last
August for $439.9 million in cash and
5.3 million shares.
One well flowed 14 MMCFeD.
sandRidge retains
six rigs at Pinon field
SandRidge Energy drilled 257 wells
last year at its West Texas Overthrust
play, bringing that total well count to 660
(632 net). SandRidge has six rigs run-
ning, primarily in
the Pinon field,
which holds 5.7
TCFe of 3P reserves. The most prolific
reservoir in the Pinon field is the
Warwick Caballos high CO2 reservoir at
depths of 6,000 to 8,000 ft. SandRidge
estimates its 137 wells drilled there have
an EUR of 7.5 BCFe each. SandRidge is
constructing the Century Plant process-
ing facility to increase its CO2 treating
capacity from its 300 MMCFD to as
much as 800 MMCFD.
Over in East Texas, SandRidge has
drilled its first Haynesville vertical well
in Rusk County, and tested it at 1.5
MMCFeD. Sandridge has a second well
and controls 36,000 acres in the
Haynesville. Last year, the company
(which traces linage back to National
Energy) drilled 54 Cotton Valley wells
for a total well count of 232 (218 net).
SandRidge exited 2008 at 325
MMCFeD, up ~40% from a year ago.
Full-year production averaged 277
MMCFeD and proved reserves rose
42% to 2.159 TCFe. That said, the com-
pany is reducing its 2009 rig count from
47 operated rigs to nine.
Encore begins haynesville development
Encore Acquisition Co. has drilled its first Haynesville well in the
Greenwood Waskom field in Caddo Parish and will complete the well with an
11-stage frac. The company is also spudding a second shale well. Encore has a
JV with ExxonMobil drilling deep Permian gas wells and has already
brought four wells online including the McElroy Ranch 132-62H
(Wilshire Field) at an IP of 8.7 MMCFeD. The well is flowing 7.2
MMCFeD two months later. Encore is also completing an offset to its
Pyote 3-3H that came online at 13.2 MMCFeD.
In 4Q 2008, Encore also completed 3 wells and re-fraced two more in its Bakken
and Sanish program in the Williston. During 2008, the company completed twelve
Bakken and Sanish wells, with seven-day IPRs of 411 BOEPD per well. Encore re-
fraced six wells in North Dakota last year with average 30-day uplift rates of 118
BOEPD each. Encore is now completing its first Sanish well on the 70,000-acre
Almond prospect near NE Mountrail County.
Encore averaged 41,824 BOEPD in the 4Q, 11% higher than year-ago levels.
For the full year, volumes rose to 39,470 BOEPD, up from 37,094 BOEPD in
2007. Encore completed 296 (111.9 net) wells during 2008. Proved reserves were
185.7 MMBOE (80% developed) at year-end 2008.
Encore is also chasing the Tuscaloosa Shale east of New Orleans.
Wanted
Anonymous buyer seeks:
Gulf Coast &
Permian
Basin Assets
For more info contact:
Beau Kelley
At PLS: (713) 650-1212
Go to www.plsx.com
for more listings!
–Listings For Sale
PAGE 20 MARCH, 2009
WYOMING
WYOMING PROPERTIES FOR SALE
~40,041-Net Acres
POWDER & GREEN RIVER BASINS
Natrona, Converse & Carbon Counties.
Developing Horizontal Play-Multi Formations.
Primary Target: Lower Mowry Shale—
+ Conventional & UnConventional Targets.
Operated Wells and Leasehold. HORIZONTAL
55% Working Interest; ~44% NRI PLAY
Current Production (2-Wells): ~10 BOPD
Long Term Leases Cover All Depths.
COLORADO AGENT HAS UPDATES
PP 3935HZ
WYOMING PROPERTIES FOR SALE
68-Operated Wells.
14-NonOperated Wells. 1,500 MCFD/CBM
POWDER RIVER BASIN
CAMPBELL, JOHNSON & SHERIDAN CO.
>9,000-Undeveloped Net Acres: Big George
3-NonOp PDNP Wells. >200-Drilling Locations.
Big George Coal Seams Have Over
— 100 Ft. Of Coal Thickness.
OPERATED & NonOperated WI Available.
Net Production: 1,500 MCFD
Gathering, Electricity and Low Cost Water
— Disposal Designed/Awaiting Construction.
Net Cash Flow: $100,000/Mn
Over 300-ShutIn Wells Waiting For
— Infrastructure Completion. Plus BHP.
Additional BHP Potential In Existing Wells.
Custom Negotiated Transaction.
CONTACT AGENT FOR PACKAGE
PP 3688DV
WYOMING PROSPECT FOR SALE
16,564-Gross Acres & 10,682-Net Acres.
NORTHERN GREEN RIVER BASIN
Merna-Daniel Anticline Exploration.
Over-Pressured Gas To Mid-Lance. WYOMING
Proposed Depth: 16,600 Ft.
LAND MANAGER HAS MORE INFO
DV 5736
WYOMING PROSPECT OFFERING
17,793-Gross Acres.
7,770-Net Acres
NORTHERN GREEN RIVER BASIN
Lance-Mesaverde Fairway
Cretaceous Hilliard Target. 14,500 Ft. WY/DV
Seismic Data Is Available.
LAND MANAGER HAS MORE INFO
DV 5735
INDIANA
PIKE CO., IN PROSPECT
9,378-Gross Acres.
ILLINOIS BASIN IN/DV
New Albany Shale. 2,400 Ft.
50% Working Interest; 87.5% NRI.
CALL LANDMAN FOR DETAILS
DV 5511
KENTUCKY
CLAY/LESLIE CO., KY PROSPECTS
26,000+-Acres. Development Play.
Multiple Pay Zones Identified. <3,200 Ft.
600+-UnDrilled Development Locations.
Excellent Horizontal Candidate.
Complete Pipeline Infrastructure.
147-Wells Currently Producing. DEVELOPMENT
Production Can Increase w/ Treatment.
SELLER HAS MORE DETAILS
DV 5295
HENDERSON CO., KY PROSPECT
2-Test Wells.
30,000-Acres.
ILLINOIS BASIN
Targeting New Albany Shale. KY/DV
Test Depth: 4,600 Ft.
Prospect Is On Stratigraphic Trap.
92% Working Interest Available.
Est Well Reserves: 1.2-3.0 BCF
Est Project Reserves: 100+ BCFE
CONTACT SELLER TO LEARN MORE
DV 5636
KENTUCKY LEASES FOR SALE
~35,134-Gross & ~21,254-Net Acres.
MCCLEAN, OHIO, WEBSTER,
MUHLENBERG & HOPKINS CO.
100% OPERATED WI; 82.5% NRI
Leasehold Is Available For Sale. KY/ACREAGE
PLS HAS MORE INFO AVAILABLE
L 5775
KENTUCKY PROSPECT SALE
41,790-Gross & 34,080-Net Acres.
ILLINOIS BASIN
New Albany Shale. 3,000-4,500 Ft.
80% Working Interest; 65% NRI. >345 BCF
Est Well Reserves: 750 MMCF
Est Project Reserves: 345-700 BCF
DHC: $850,000; Compl: $800,000.
DENVER LANDMAN HAS DETAILS
DV 5951
MICHIGAN
ANTRIM SHALE PROJECT
60,000+ Acres.
CLINTON, GRATIOT, SHIAWASSEE CO.
Antrim Shale Target. 1,500-2,00 Ft. (TVD)
Additional Upside Zones Identified.
Unconventional Mixed Biogenic Gas—
—And Thermogenic Gas 460 BCF
Est Rsrvs/Well: 1.5 BCF On 320-Acre
Est Rsrvs/Project: 460 BCF
Vertical Well Cost: $300,000
Horizontal Well Cost: $1,000,000
LAND DEPT HAS MORE DETAILS
DV 5515
MANISTEE CO., MI PROJECT
160-Acre Unit.
NIAGARAN REEF TREND
Pipeline Found Nearby. MI/DV
Average NRI: 80%
Est IP: 150 BCPD & 1,500 MCFD
Est Total Reserves: 700 MBC & 4.0 BCF
CALL OPERATOR FOR MORE INFO
DV 5797
MANISTEE CO., MI PROSPECT
NIAGARAN REEF TREND
Total Vertical Depth: 5,060 Ft.
Pipeline Within 2,000 Ft. MI/DV
Seller Will Deliver 80% NRI.
Initial Production: 25 BOPD & 500 MCFD
Est Reserves: 250 MBO & 1.0 BCF
CALL OPERATOR FOR MORE INFO
DV 5316
MICHIGAN OIL RESOURCE PLAY
8-Wells. 36,500-Acres.
ARENAC, BAY, CLARE, GLADWIN,
& ROSCOMMON CO.
Detroit River & Dundde Carbonates.
Enhancement Targets Identified.
Depths Range: 2,500-5,000 Ft. >210 BOED
Significant Amount Of PUD Locations.
100% WI Available; Avg 85% NRI
Net Production: 130 BOPD & 500 MCFD
Net Cash Flow: ~$175,000/Mn
Potential Rsrvs: 80 MBO & 500 MMCF
Drill & Completion: $850,000
AGENT HAS UPDATE AVAILABLE
PP 5440DV
NEW YORK
DELAWARE CO., NY PROSPECT
12-Potential Wells. 940-Contiguous Acres.
APPALACHIAN BASIN
Marcellus Shale Target. 36-42 BCF
Significant Horizontal Opportunity.
100% OPERATED WI; 84% NRI
Est Reserves/Well: 3.0 - 3.5 BCF
Est Reserves/Prospect: 36 - 42 BCF
5-Year Lease. 3-Year Extension.
CONTACT PROSPECT GENERATOR
DV 5728
NEW YORK
STEUBEN/TIOGA CO., NY PROSPECT
2,600-Acres.
1-Trenton Black River Development.
Also Prospective: Onadago Reef,
Utica Shale, & Marcellus Shale DV/NY
Proposed Depths: 3,700-10,000 Ft.
SEEKING PARTNERS TO DRILL
& BUY MORE ACREAGE
Trenton Black River Well Costs: $5.0 MM
CALL PLS FOR INTRO TO SELLER
DV 5798
OHIO
GALLIA CO., OH LEASEHOLDS
17,730-Acres.
Devonian L Huron Shale. 2,500-3,000 Ft
Reservoir Thickness: >250 Ft. OH LEASES
Silurian Clinton Potential. 3,500 Ft.
Mississippian Berea Potential. 1,600 Ft.
100% Working Interest; 87.5% NRI
Remaining Lease Terms: 1-4 Years
LAND MANAGER HAS DETAILS
L 6473
PENNSYLVANIA
BRADFORD CO., PA MINERALS
1,054-Net Mineral Acres For Sale.
MARCELLUS SHALE
Monroe & Overton Districts MARCELLUS
Lease Assigned To Chief O&G - 3/09
1/8th Royalty Available.
CALL PLS FOR INTRO TO SELLER
M 5365
CLINTON & CENTRE CO., PA LEASE
~9,164-Acres.
APPALACHIAN BASIN PA LEASE
Significant Marcellus Shale Position.
Acreage Is Available For Lease.
CALL PLS FOR CONTACT INFO
L 5774
PENNSYLVANIA
MARCELLUS PROSPECT FOR SALE
40,000-Acres.
NORTHEASTERN PENNSYLVANIA
Primary Target: Devonian Marcellus.
Multiple Secondary Objectives. MARCELLUS
Pipeline In Place.
CONTACT SELLER FOR SHOWING
DV 5311
MARCELLUS SHALE ACREAGE DEAL
Pennsylvania-Based E&P Company.
Leasing/Developing Marcellus Shale.
SEEKING INDUSTRY PARTNER(S) ACREAGE
CONTACT GENERATOR FOR DETAILS
L 4168DV
MARCELLUS SHALE LEASE
414-Acres.
ARMSTRONG CO. MARCELLUS
Right In The Heart Of The Play.
Lease Available Due To Pugh Clause.
Surrounded By Producing Wells.
Lease HBP To Only 6,000 Ft—
— Ground Floor Investment Opportunity
Terms Are Negotiable.
Serious Inquiries Only.
CALL PLS FOR INTRO TO SELLER
L 5472
MARCELLUS SHALE PROSPECT
Seeking JV Partner.
Pennsylvania & West Virginia. MARCELLUS
25,000-Acres Under Lease.
CONTACT SELLER TO LEARN MORE
DV 3789
PENNSYLVANIA SHALE PROJECT
10,000+-Acres; 5,900-HBP.
ARMSTRONG, BUTLER, INDIANA
& LAWRENCE CO.
Prolific Marcellus Shale Position.
FOR SALE or JOINT VENTURE MARCELLUS
Seller Will Deliver 80% NRI.
Lease Maps Are Available.
CONTACT PROSPECT GENERATOR
DV 5859
POTTER CO, PROSPECT FOR SALE
3-Contiguous Blocks. ~9,000-Acres.
APPALACHIAN BASIN
Targeting Marcellus Shale. MARCELLUS
Excellent Pipeline Access.
Leases Held By Production.
50% WI Available; 83%-84.5% NRI
CONTACT EXPLORATIONIST FOR INFO
DV 5074
TIOGA CO., PA LEASEHOLD
~880-Gross Acres. ~816-Net Acres.
MARCELLUS SHALE
GAINES & ELK TOWNSHIPS LEASE
85% NRI
Five Year Leases Executed Feb-Mar 2008.
CONTACT AGENT TO REQUEST PACKAGE
L 3608
TIOGA CO., PA OVERRIDES FOR SALE
22,000-Acres.
DELMAR, SHIPPEN, JACKSON MARCELLUS
RUTLAND, SULLIVAN, FARMINGTON
& ELKLAND TOWNSHIPS
In The Heart Of The Marcellus Fairway.
OVERRIDING ROYALTY INTEREST
Develop MultiWell Drilling Program.
Successful Marcellus Horizontal: Same Area
Favorable Economics.
NEW YORK AGENT HAS DETAILED INFO
RR 3438OV
WEST VIRGINIA
BRAXTON CO., WV ACREAGE
5-Proposed Wells. 405-Lease Acres.
APPALACHIAN BASIN
MARCELLUS
Strong Marcellus Shale Position.
100% OPERATED WI; 86.5% NRI
Est Well Reserves: 3.0-3.5 BCF
Est Project Reserves: 15-17.5 BCF
5-Year Leases w/ 5-Year Extensions.
CONTACT PROSPECT GENERATOR
DV 5990HZ
PRESTON CO., WV PROSPECT
~2,200-Gross & 2,000-Net Acres.
APPALACHIAN BASIN APPALACHIA
Obj 1: Marcellus Shale. ~7,900 Ft.
Obj 2: Huntersville Chert. ~8,000 Ft.
Significant Horizontal Opportunity.
Seller Will Deliver 75% NRI.
Analogs Producing Up To 5.0 MMCFD.
Est Reserves/Well: 3.0 - 4.0 BCF
CONTACT PROSPECT GENERATOR
DV 5855HZ
WEST VIRGINIA DRILLING PROJECT
4-Counties.
CLAY, ROANE, KANAWHA, WETZEL
& DODDRIDGE CO.
MultiTargets Including Marcellus Shale.
Depths Range: 2,000-6,000+ Ft.
Seller Can Deliver 84% NRI. DV/WV
SEEKING JV PARTNER TO DRILL
Minimum Investment: $50,000
SELLER HAS MORE DETAILS
DV 6472
WEST VIRGINIA
WEST VIRGINIA PROSPECT SALE
100+ Potential Wells. >10,000-Acres.
PRESTON & TUCKER CO.
Marcellus Shale Opportunity. MARCELLUS
Defined By SubSurface Geology.
50%+ WI Available; ~37.5%+ NRI
Operations Available To Qualified Partner.
Est Reserves/Well: 5.0 BCF
EXPLORATIONIST HAS DETAILS
DV 5282
MULTISTATE
APPALACHIA BASIN PROJECT
3-Wells. 41,000-Contiguous Acres.
WASHINGTON CO., PA
OHIO CO., WV CBM
Significant UnDeveloped CBM Acreage.
Large Upside & Development Potential.
Pittsburgh Seam (CBM) Producers.
Kittanning Seam Also Identified.
50% Working Interest; 41.25% NRI
Processing Plant Included.
CONTACT PROJECT OWNER
DV 5599
APPALACHIA BASIN PROSPECTS
Numerous Drilling Prospects.
WEST VIRGINIA & PENNSYLVANIA
Obj 1: Upper Devonian Wells. ~5,000 Ft.
Obj 2: Marcellus (Vertical). ~7,600 Ft.
NonOperated WI For Sale. APPALACHIA
Avg Upper Devonian IP’s: 60-100 MCFD
Vertical Marcellus IP’s: 200-500 MCFD
Devonian Wells Cost: $375,000-$500,000
Vertical Marcellus Cost: $1,500,000
SELLER HAS ADDITIONAL PROSPECTS
DV 5419
ARIZONA & NEW MEXICO GAS DEAL
Prolific CO2 & Helium Field.
ST. JOHNS FIELD CO2/HELIUM
Largest Undeveloped Helium/CO2 Field—
—In North America.
Gas Markets In Permian Basin Area.
SEEKING JOINT VENTURE PARTNERS
Est CO2 Reserves: 15 TCF
MORE DETAILS COMING SOON
DV 5364
ARKANSAS / LOUISIANA PROSPECT
937-Gross Acres.
BOSSIER PH., LA AR/LA/DV
LAFAYETTE CO., AR
Targeting Haynesville & Cotton Valley.
Proposed Depth: 11,000 Ft.
Seller Will Deliver 73% NRI.
Analogue Prod: 500 MCFD & 20 BOPD
Est Well Reserves: 2.5 BCF & 108 MBO
Dry Hole Cose: $1,500,000
DV 5586
CORPORATE ASSETS FOR SALE
75-Gas Wells. 40-Oil Wells.
CALIFORNIA & MONTANA CORPORATE
Currently Focused In Sacramento Valley.
Several Drilling Prospects Identified.
Uses 3-D Seismic, Well Data, & Geology.
Successful Wells w/ High Cumm’s.
OPERATED & NonOperated WI.
Will Sell Assets Or Company Shares.
CALL GENERATOR FOR DATA
CO 5388PP/DV
CORPORATE SALE OF ASSETS
>66,000-Acres.
PENNSYLVANIA & NEW YORK
Appalachian Basin APPALACHIA
Shallow Devonian Sand Production.
Significant Marcellus Shale Position.
100% OPERATED WI; 87.5% NRI
Net Production: ~3.2 MMCFD
Reserves Report Available w/ C.A.
Highly Skilled Operating Staff.
Gathering Systems/Pipelines In Place.
OFFERING IS STILL AVAILABLE
CO 5926PP
ILLINOIS & KENTUCKY ACREAGE
~229,000-Net Acres.
NEW ALBANY SHALE LEASES
300-400 Ft Of Pay Thickness.
Most Acreage In Rock Creek Graben.
Kentucky Acreage:
— Crittenden, Livingston, Marshall,
Union & Webster Co.
Illinois Acreage: MULTISTATE
— Hardin, Jackson, Johnson, Massac,
Pope & Saline Co.
Majority Of Leases Expire: 2010-2011
3-Year And 5-Year Extension Clauses.
AGENT HAS MORE DETAILS
L 6448DV
LOUISIANA & MISSISSIPPI ROYALTY
2-Counties(Parish). 5-Wells.
LA - LIVINGSTON PARISH
MS - SIMPSON COUNTY ROYALTY
Varying Net Royalty Interests.
Total Net Prod: ~13 BOPD & 1.0 MCFD
Package Offered Individually Or Whole.
Decline Curves & Financial Info Available.
CONTACT SELLER FOR MORE INFO
RR 3790
Capital Markets
Group
PLS’ Capital Markets Group
provides capital sourcing
and strategic advisory
services to both public
and private companies.
Contact: Jason Reimbold
jreimbold@plsx.com
713-600-0119
www.plsx.com
Buyers note—
Besides managing a data base
of what's for sale – PLS also tracks
buyer preferences. Our company
regularly tracks buyer activity, asks
for buyers preferences and records
buyer interest including information
on property type, (PP, DV, OV, M,
OBO, G); areas of interest, (core
fields, counties, formations) and
price range.
A copy of our
buyer profile form
is found online at
www.plsx.com/ buy-
erprofileform.com. PLS uses this data
base to target select offerings and
market assets. PLS also licenses our
buyer list to regional affiliates and
technical firms such as Burks Oil &
Gas Properties, DivestPro and Amer -
ican Energy Advisors who handle use
our data base in handling their select
divestment efforts. Its important for
members to keep their buying criteria
up to date with PLS. Quick and infor-
mal updates are also welcome by
Email to bgreen@plsx.com
On another note – PLS also
offers buyers additional services
including traditional display adver tis-
ing, direct mail and wanted ads.
Potential purchasers can regis-
ter their buying criteria with PLS and
have their listings (needs) run online
at www.plsx.com and in PLS reports
as a “Wanted Listing.” Wanted
Listings costs $25 per month and
act as a draw for sellers who may
see the anonymous ad in PLS.
Com panies desiring to “register their
wanted ad” should simply send their
informal criteria (property type, price
range etc) to Bgreen@plsx.com
or Tony@plsx.com and PLS will
handle the rest. A wanted ad is an
inexpensive advertisement which
can generate market interest and
seller introductions.
INTERNATIONAL
ONSHORE FRANCE PROSPECTS
>12-Proposed Wells. 70,000-Acres.
BORDEAUX REGION
Obj 1: Basal L. Cret Sands. 8,200 Ft.
Obj 2: L Cretaceous Turbidites 40+ MMBO
Within 6 Miles Of 100 MMBO Field.
3-D Seismic. Geology & Geophysics.
50% OPERATED WI; 44% NRI Available
Analogous Field Has IP’s Of 1,000 BOPD.
Est Reserves/Well: ~2.5 MMBO
Est Reserves/Project: 40+ MMBO
DHC: $5,000,000; Compl: $2,000,000
CONTACT OPERATOR FOR DETAILS
DV 5902
For more
International listings
go to
www.plsx.com
www.plsx.com
Why wait for the capital you need? If you are a small- to mid-sized
operator with a project in the $1 million to $20 million range,
contact Patriot Exploration at 713-353-3997
www.patriotexploration.com
Opportunity driven.
FOREST CAPITAL
PARTNERS, LLC
www.forestcap.com
www.ipaa.org
America’s Oil & Gas Producers
W
–Listings For Sale
PAGE 21 PROSPECTS & PROPERTIES
• AM Oil Resources & Technology selected Keith Alan Johnson as its
new president and CEO, replacing Anthony Miller who has resigned from all
positions with the company. Johnson spent more than 20 years with Southern
California Gas Company (now known as Sempra Energy Utilities) where his
primary responsibilities were transmission and marketing management.
• Anadarko Petroleum named Al Walker, formerly SVP of finance and
CFO, as its new COO. Karl Kurz, formerly COO,
will be leaving the company. Robert Gwin, for-
merly SVP, will replace Walker as SVP of finance and CFO.
• Apache Corp. Chairman and CEO G. Steven Ferris formed an office
of the chief executive with three key executives reporting to him. Roger
Plank, Apache’s CFO since 1997, was named Apache’s pres-
ident. John Crum, president of Apache Canada since 2007,
was named co-COO and president of North America. Rodney Eichler, gen-
eral manager of Apache’s Egypt Region since 1997, was named co-COO
and president, International.
• Best Energy Services appointed interim president and CEO Tony Bruce
to the two posts on a full-time basis. Bruce has served as a member of Best
Energy Services’ board since the company’s formation in February 2008.
• Blast Energy Services hired Larry (Al) Solansky to serve as manager
of rig operations. Solansky oversaw coiled tubing operations for Schlum-
berger in California and Oklahoma for the last eight years.
• The Colorado Oil & Gas Association announced a new position
within the organi zation, formed to serve as a point of contact for media
inquiries regarding the economic, environmental, and philanthropic impact
of oil and gas production in Colorado. The Association has hired Nate
Strauch to fill that role. Strauch has spent the last two years serving as
communications director for the Colorado Department of Law and Attorney
General John Suthers. Prior to that, he worked for three years in the press
office of Governor Bill Owens.
• Constellation Energy appointed James Connaughton as EVP
of corporate affairs, public and environmental policy. He previously
served as chairman of the White House Council on Environmental Quality.
• Oilfield service company Deep Down, Inc., opened new corporate
headquarters in Northwest Houston, at 8827 W. Sam Houston Parkway, N.,
Suite 100, Houston, Texas 77040. Deep Down also operates service and
fabrication facilities in Channelview, Texas, Morgan City, Louisiana, and
Biddeford, Maine.
• Dominion promoted Diane Leopold to SVP of business development
& generation construction. She is VP of fossil & hydro merchant operations.
• Doral Energy promoted Clifton Bloodworth to VP of operations.
Bloodworth was previously operations manager of Doral’s Eddy County,
New Mexico Properties.
• North Carolina-based Duke Energy appointed company treasurer
Stephen De May as SVP, treasurer and chief risk officer. De May joined
Duke in 1990 as a director at Crescent Resources.
• ECCO Energy hired Ray Ward as COO. Ward is co-founder and man-
aging partner of Republic Petroleum LLC, an exploration and production
company focused in the Gulf of Mexico.
• Gulftex Operating named three executives. Patrick E. Lee joined the
company as Senior Acquisitions and New Business Man ager. Lee was
recently been active in capital acquisition, marketing and strategic alliances
at Brownfields Capital in Denver. Paul H. Cheong joined the company as
Senior Reservoir Engineer and Exploration Manager. In addition, Ronald
H. Abreu is now an advisor to both Gulftex Operating and TBX Resources.
• Lime Energy promoted James Smith to president of Applied Energy
Management (AEM), a subsidiary of Lime Energy. Previously, Smith was
an EVP of AEM responsible for the development and operations of the
ESCO related services.
• Newfield Exploration named Lee Boothby as its new president, effec-
tive immediately. The board will also name Boothby as CEO in May.
Boothby will succeed David Trice, who plans to retire as
CEO at that time. Trice will likely serve a one-year term as
non-executive chairman to assist in the transition.
• Northern Explorations appointed Mark Schaftlein as president and
CEO. Schaftlein comes from Capital Consulting Inc., where he served as CEO.
• Paco Oil and Gas is changing its name to Paco Integrated Energy
and has relocated its head office to Houston, Texas. Paco also appointed
Frank Snortheim as its new president.
• Penn Virginia Corp. promoted H. Baird Whitehead, previously EVP,
to the position of EVP and COO. Since 2001, Whitehead has also
served as president of Penn Virginia Oil & Gas Corporation, PVA’s
oil and gas exploration and production subsidiary, and will retain that title.
• St. Mary Land & Exploration said Mark Hellerstein, Chairman,
will retire from the board effective at the 2009 annual meeting of stock hold-
ers to be held in May, after 17 years of service.
The board anticipates appointing Bill Sullivan, a member of the
board since 2004, to succeed Hellerstein as Chairman.
• Vanco Energy appointed Todd Mullen as VP – general counsel. Most
recently, Mullen held the position of division counsel & chief legal compli-
ance officer for Hughes Christensen, a division of Baker Hughes Inc.
• Plano-based Xtreme Oil & Gas appointed Russell Walker as general
counsel. Walker, an oil and gas lawyer, will continue his practice in Oklahoma
City and provide services to Xtreme through his lawfirm Walker & Walker.
in memoriam
• Bill Moyer has lost his battle with cancer. Since 2001, Bill was part of
the IPAA team in Washington, serving as VP of Capital Markets, Business
Development and Membership – a position that proved his
exceptional dedication to IPAA by practically taking on three
jobs at once. The family requested that contributions, in lieu of flowers,
be made to the Moyer Family Education Trust. IPAA will match the first
$30,000 given to the fund. For more information, contact jeffrey.furniss@
lfg.com (410.987.3590).
People on the Move
MULTISTATE
LOUISIANA / MISSISSIPPI PROSPECT
11,500-Net Acres.
Tuscaloosa Marine Shale.
9,000-14,000 Ft. LA/MS/DV
2-D Seismic, Core Data & Well Data.
Pay Thickness Ranges: 380-550 Ft.
LAND MANAGER HAS DATA SHOWING
DV 5204
MID-CONTINENT PROSPECT SALE
1-Oil Prospect. 2-40 Ft Oil Cores.
FOREST CITY BASIN MIDCON / DV
Targeting Hunton Formation. 2,500 Ft.
Column Thickness: >200 Ft.
HAS ONE PARTNER - NEEDS SECOND
New Leases. Report Available.
CONTACT GEOLOGIST FOR DETAILS
DV 5125
MID-CONTINENT NONOP PACKAGE
21-Wells. Plus: 20-PUD, 10-PROB/POSS.
1-TEXAS & 4-OKLAHOMA COUNTIES
Cottage Grove & Atoka Production.
Prolific Granite-Wash Play. NONOP WELLS
One Oklahoma Co w/20,564-Undeveloped
— Net Acres Will Be Offered Separately.
UpSide Potential-Drill/Compl Opportunities.
NonOperated WI for Sale.
Est Net Prod: 40 BOPD & ~1,500 MCFD
Est Net Cash Flow: $400,000/Mn
Mid-Value Negotiated Transaction.
Agent Has Evaluation CD.
No CA Required To Review Package.
AGENT HAS UPDATES AVAILABLE
PP 3972DV
MID-CONTINENT SALE PACKAGE
2-Key Areas.
TEXAS PANHANDLE
WESTERN OKLAHOMA MIDCON
Oil & Gas Producing Properties.
Net Production: ~15 MMCFED
MORE DATA EXPECTED LATE MARCH
AGENT HAS DETAILS AVAILABLE
PP 6458
MULTISTATE SALE PACKAGE
14-Wells. 1-SWD.
PATTERSON, LAKE ERLING, SHREVEPORT,
NANCY, DANVILLE, EASTER FIELDS.
Smackover, Hosston, TP, CV Zones.
Small NonOperated & ORRI For Sale.
Gross Production: 331 BOPD & 12,226 MCFD
Net Production: 204 MCFED
Avg Net Revenue: $23,064/Mn 204 MCFED
Solid Operators In Place.
VISIT PLSX.COM FOR PACKAGE
PP 4204
NIOBRARA BIOGENIC GAS PLAY
Colorado, Kansas & Nebraska.
300+ POTENTIAL DRILLING SITES
3-D Seismic Survey Available. 3D/GAS
Seller Will Deliver 80% NRI.
Est Rsrvs Per 40 Acre: 250-500 MMCF
CALL OPERATOR FOR MORE INFO
DV 5205
OKLAHOMA & KANSAS OVERRIDES
642-Wells. 5-Counties.
CHEROKEE BASIN CBM PLAY
WOODFORD SHALE PLAY
Continuous Drilling Program. OVERRIDES
Numerous Permits In Progress.
OVERRIDING ROYALTY INTEREST
Total Net Cash Flow: $61,700/Mn
OFFERS WANTED DECEMBER 23
CALL TO REQUEST SALE STATUS
RR 3850OV
OKLAHOMA & TEXAS LEASEHOLD
144,231-Net Acres.
ANADARKO BASIN
24,586-Acres Are HBP.
Package 1:
— All Rights ANADARKO
— Ellis Co., OK
— Lipscomb & Ochiltree Co., TX
Package 2:
— Woodford Rights Only
— Multiple Counties In OK
LEASEHOLD ONLY - NO WELLBORES
Total Reserve Potential: >3.5 TCFE
AGENT HAS STATUS UPDATE
DV 6199L
ROCKIES ASSETS FOR SALE
273,000-Net Acres. Exposure To ~170 BCFE
NORTHERN PARADOX BASIN
Andy’s Mesa, La Sal, Hamilton Creek
& Lisbon Production in MultiStacked
— Sandstone & Carbonate Reservoirs
Strategic Midstream Infrastructure
UpSide: Multiple Infill Drill & Field Optimization
Lg Undeveloped Land Position + 3D Seismic.
100% OPERATED WI FOR SALE
Net Production: ~ 50 MMCFD
Net Cash Flow: ~833,000/Mn
MIDSTREAM
Net Proved Reserves: 103 BCFE (100% Gas)
120 MMCFED Processing Capacity Maintained
— With 47% Unutilized Capacity
— Allowing for Future Growth
3rd Party Engineering Available.
CONTACT AGENT FOR UPDATE
PP 3899DV
MULTISTATE
TEXAS & LOUISIANA ACREAGE
~20,025-Total Net Acres.
HAYNESVILLE SHALE ETX/LA ACREAGE
Sabine-LA. Sabine/San Augustine-TX.
Bossier, Knowles & James Lime Potential.
75% OPERATED WI; 56.25% NRI
Pipeline Infrastructure In Place or Near
— Completed Near Company’s Acreage.
Significant Bossier, Knowles, James Lime.
Strong Haynesville Potential w/Large—
Operators Producing in Prolific James Lime.
All Acreage In Highly Active Areas.
Sizeable Leasehold Position in Haynesville.
CALL AGENT FOR RECENT UPDATE
DV 3329
TEXAS / OKLAHOMA PROSPECT SALE
33,500-Acres. 4-Test Wells.
BRYAN CO., OK TX/OK/DV
GRAYSON CO., TX
Texas Acreage: 2,000+ Ft. Depth
Oklahoma Acreage: No Depth Limitation
50% Working Interest; 78% NRI
Additional Leasing Subject To 50-50 AMI.
DV 5596
OFFSHORE
GALVESTON BAY ORRI SALE PKG
3-PDP, 119-PDNP. 34-PSI. 14-PUD.
TRINITY BAY, N. POINT BOLIVAR,
FISHERS REEF, RED FISH REEF FIELDS
Stacked Miocene & Frio Production.
Total Depth: 8,000 - 13,000 ft.
3-D Seismically Defined. GALVESTON BAY
5.00%-8.00% ORRI For Sale.
Gross Proved Rsrvs: 1.8 MMBO & 31.2 BCF
RR 4239
GOM SHELF - FARM OUT
1-Proposed Well.
Proposed Depth: 6,850 Ft. (TVD)
Water Depth: 70 Ft.
3-D Seismic Data Available. OFFSHORE
35.4% Working Interest; 26% NRI.
Est Reserves: 9.0 BCF
Completion Costs: $8,174,450
DV 5635
GULF OF MEXICO ASSET SALE
DEEPWATER LOCATIONS
POWELL FIELD - GC 461
FUJI FIELD - GC 506 WY/CO/PP/DV
Working Interest For Sale.
SIGNIFICANT OFFSHORE OPTION
PP 3869DV
GULF OF MEXICO OFFERING
3-Fields. GOM PROJECT
DEEPWATER FIELD DEVELOPMENT
Mirage, Morgus, & Telemark Fields
Floating Production Facility: ATP Titan
Develop Mirage/Morgus: Immediately
Telemark Development: 2010
Export Lines Have Been Installed.
100% Working Interest Available.
SEEKING JOINT VENTURE PARTNERS
Initial Production Set For Late 2009.
Max Production: ~32 MBOED In 2011
Est Total Development Cost: ~$460 MM
DATA ROOMS OPEN MARCH 18, 2009
DV 6209
GULF OF MEXICO PACKAGE
2-Fault Blocks.
WEST CAMERON, BLOCK 145 GOM/DV
Lower Rob M / Gyroidina 9. 16,400 Ft.
Total 50% Interest.
Estimated Reserves: 87 BCF
Completion: $23,168,200
DV 5676
GULF OF MEXICO PROSPECT
SHIP SHOAL AREA, BLOCK 115
Obj 1: Miocene Sand. 11,950 Ft. (TVD).
Additional Gas Target Identified. 2,800 Ft.
50% Working Interest And NRI.
Estimated Reserves 18.5 BCF 18.5 BCF
DHC: $8,300,000; Compl: $2,600,000
CONTACT EXPLORATIONIST
DV 5677
GULF OF MEXICO PROSPECT SALE
WEST CAMERON AREA. BLOCK 146, 147
Multiple Objectives: Chris I - Rob L.
Block 146: 11,087 Ft. Block 147: 12,985 Ft.
50% Working Interest; 41% NRI.
Rob L Only - Est Reserves: 53 BCF. ~53 BCF
Completion: ~$18,600,000/Block
DV 5675
OFFSHORE CALIFORNIA PROSPECT
26-PDNP Reactivations. 11-PUD Infills.
PUDs From Waterflood Improvements.
100% OPERATED WI Available.
Net Production: 2,875 BOPD OFFSHORE CA
Est Proved Reserves: 44.8 MMBO
Total Proved PV12: $409,000,000
MORE DETAILS COMING SOON
PP 5270DV
OFFSHORE LEASES FOR SALE
5-Wells Produce From Fixed Platform.
VIRGO FIELD 7.7 MMCFED
Viosca Knoll Blocks 822 & 823.
Field Produces From Water Depth: 1,130 Ft.
Offering Controls OPERATED & Majority WI.
64% Working Interest in Two Leases.
Net Production: ~7.6 MMCFED
— 84% Gas Weighted
New Well Locations and Deep Potential.
HOUSTON AGENT PROVIDING DATA
PP 3938DV
OFFSHORE
OFFSHORE LOUISIANA PROSPECT
5,000-Acres.
EAST CAMERON 25
Marg A Sands (5-7,10-11) >91 BCFE
Proposed Depth: 16,800 Ft.
100% WI Available; 83.3% NRI
Analogs Produce 14-68 BCFE.
Est Reserves: 699 MBO & 90.8 BCF
DHC: $33,600,000; Compl: $11,700,000
CALL PLS FOR PROJECT DESCRIPTION
DV 5710
OFFSHORE LOUISIANA PROSPECT
LOWER MIOCENE OPERC TREND
Tex W, Cris I, & Cib Op Zones.
Depth: 19,000-17,000 Ft. OFFSHORE LA
50% OPERATED WI Available.
Prolific Operc Trend Produced 746 BCFE.
Total Est Reserves: 200 BCFE
CALL OPERATOR FOR DETAILS
DV 5960
OFFSHORE LOUSIANA PROSPECT SALE
5,760-Acres.
HIGH ISLAND 48
Lower Miocene Cris R Sands. ~40 BCFE
Depth: 14,800 Ft.
60% WI Available; 50% NRI.
Analogs Produce 12-22 BCFE.
Total Mean Reserves: 37.9 BCFE
OPERATOR HAS ADDITIONAL DATA
DV 5905
OFFSHORE MISSISSIPPI PROSPECT
MISSISSIPPI CANYON
Targeting Pliocene Bul 1.
Proposed Depth: 11,100 Ft.
Stratigraphic Trap. 15.6 MMBO
Class II AVO Anomaly.
35% WI Available; 27.07% NRI
Est Reserves: 15.6 MMBO
Upside Potential: 23.4 MMBO
DHC: $23,400,000; Compl: $7,500,000
CALL PLS FOR MORE GEOLOGY
DV 5589
OFFSHORE MISSISSIPPI PROSPECT
1-Test Well.
WEST CAMERON AREA
Targeting Lower Miocene Cris. 14,000 Ft.
30% WI Available; 24.375% NRI
Est Reserves: 20 BCF 20 BCF
Probable Reserves: 35 BCF
CALL PLS FOR LANDMAN INFO
DV 5587
OFFSHORE MISSISSIPPI SALE
1-Test Well.
SHIP SHOAL 70 BCF
Upper Miocene Big A Sands.
Proposed Depth: 17,500 ft.
33.33% WI Available; 25.77% NRI
Est Reserves: 70 BCF
Upside Potential: 147 BCF
CALL LANDMAN FOR MORE INFO
DV 5588
OFFSHORE PROSPECT FOR SALE
5,760-Acres.
VIOSCA KNOLL
Targeting Miocene Gas. 3,000 Ft. (TVD)
Drill From An Existing Platform.
3-D Seismic Data. OFFSHORE LA
Horizontal Opportunity Available.
Seller Will Deliver 79% NRI.
Est Reserves: 20-27 BCF
All Facilities In Place.
No Abandonment Liability.
DHC: $4,000,000; Compl: $3,000,000
CONTACT LANDMAN FOR INFO
DV 5105
OFFSHORE TEXAS PROSPECTS
2-Prospects. 3-Blocks.
MUSTANG ISLAND ~46 BCF
Blackberry Fault Trend
Targeting Lower Miocene Marg A.
Depths: 9,000-11,000 Ft.
Reprocessed Proprietary 3-D Seismic.
Seller Will Deliver 75% NRI.
Analogous AVO Signature Identified.
Total Proved Rsrvs: 46.2 BCF
Completion/Prospect: $8,160,000
CONTACT PROSPECT GENERATOR
DV 5850
TEXAS OFFSHORE PROSPECTS
5,613-Acres. 9-Oil & Gas Prospects.
MUSTANG ISLAND 725 & 743
Obj 1: Lower Cris A; 5,000 Ft.
Obj 2: Siph D; 6,000 Ft. OFFSHORE
Three-Way Closures. Structural Plays.
100% Working Interest Available.
Est Reserves: 19 MMBO & 19 BCF
CALL LAND DEPT FOR DATA
DV 5849
www.englehartenergy.com
The Energy Law Firm the
Energy Industry Goes To
www.burlesoncooke.com
www.coqueststructuredproducts.com
Office: (214) 219-7555
Fax: (214) 219-3313
Energy Hedging Solutions
Your Full Service Energy Broker
S
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–Listings For Sale
PAGE 22 MARCH, 2009
FOR SALE - EQUIPMENT
DRILL PIPE FOR SALE
3.5 Drill Pipe.
11,222 Ft. 13.30 S-135. DRILL PIPE
3.5 IF Hardband, Plastic Coated.
USA Manufactured. Test Certificate Is Available.
SELLER INFO PROVIDED ON REQUEST
E 5047
DRILLING RIG FOR SALE
Mobile Bock 861 - Platform C. UnManned.
Water Depth: 54 Ft.
Tripod Wellhead Deck.
Facilities Can Flow: 17,000 MCFD RIG
Total Fluids: 1,900 Barrels
Processing Equipment Incl Dehydration.
Room For Compression.
Crane: Nautilus Model 35 B4-50
1-Well Slot w/ Option To Add Slots.
Drawings Are Available.
SELLER HAS MORE INFO
E 6461RIG
DRILLING RIG FOR SALE
Drill Rig For Sale.
BREWSTER N45
Can Drill Down To +/- 8,500 Ft. RIG
900 HP Engine. Twin C-15 Engines.
2-275 KW Generators. 6-CAT Motors.
AGENT CONTACT INFO PROVIDED
E 5414RIG
WANTED
PRODUCING PROPERTIES WANTED
PREFERS SOUTH ARKANSAS
Will Also Look At North Louisiana
Must Include Operations.
Price Range: Up To $10,000,000
CALL PLS FOR INTRO TO BUYER
W 6434PP
GULF COAST PROPERTIES WANTED
Successful Prospect Generator
SEEKING SOUTH LOUISIANA
CALL PLS TO LEARN MORE
W 6475
WANTED: PRODUCING PROPERTIES
Colorado Oil & Gas Company.
WEST, CENTRAL & SOUTH TEXAS
PERMIAN BASIN
WILL ALSO LOOK AT KANSAS
Seeks Operated Properties.
Price Range: $25 MM - $100 MM
CALL PLS FOR BUYER CONTACT INFO
W 5600PP
WANTED: ORRI, WI, & ROYALTY
Texas, Louisiana, Gulf Coast Areas.
OPERATED Or NonOperated.
Quick Review & Decision Time.
Gives Value To All Proved Categories--
— PDP, PDNP, & PUD
CALL PLS FOR INTRO TO BUYER
W 6469PP/RR
For more
Wanted Listings
go to
www.plsx.com
For more info call PLS
713-650-1212
or access www.plsx.com
DELTA CO., CO PROJECT
40-Well Drilling Program. ~13,500-Acres.
SOUTH PICEANCE BASIN
DV 3992
NORTHEAST KANSAS PROJECT
7-Key Areas. 2-Wells. ~45,000-Acres.
100% OPERATED WI For Sale.
Net Production: 30-40 BOPD
DV 5690PP
PALO PINTO CO., TX PACKAGE
4-PDP. 12-PDBP. 1-SWD.
100% OPERATED WI; 75% NRI
Gross Production: 8 BOPD & 315 MCFD
PP 4236
EAST TEXAS LEASEHOLD
2-Counties. 1,425-Net Leasehold Acres.
HAYNESVILLE SHALE POSITION
100% OPERATED WI; 75% NRI
DV 5753L
BIENVILLE PH., LA PROSPECT
1-Well. 536-Acres.
NORTH LOUISIANA SALT BASIN
DV 2222L
OKLAHOMA SALE PACKAGE
30-Wells. 2-Completing. 1-Drilling.
Small NonOperated WI For Sale.
PP 4231DV
PALO PINTO CO., TX PACKAGE
4-PDP. 12-PDBP. 1-SWD.
100% OPERATED WI; 75% NRI
Gross Production: 8 BOPD & 315 MCFD
PP 4236
M
u
s
tang En
e
r
g
y
Featured
Sale Packages
If you think PLS is just a listing service
or publishing firm, think again.
UINTAH & GRAND CO., UT PROJECT
25-Wells. 6-SI. 3-Compl. 1-Well Location.
Gross Prod: 22 BOPD & 8,963 MCFD
PP 4214DV
LAFOURCHE PH., LA PROPERTIES
4-Wells. 669-Acres.
Avg 80.5% WI; Avg 60.4% NRI
Net Production: 75 BOPD & 3,693 MCFD
PP 5828DV
CENTRAL OKLAHOMA DEVELOPMENT
Several MultiLateral Locations.
SEEKING WI PARTNERS TO DRILL
DV 5911HZ
Call Richard Martin at 713-650-1212
Let PLS handle your property, override or prospect sale!
Range and its midstream partner MarkWest Energy plan to increase process-
ing capacity to 180 MMCFD by late 2009 or early 2010. Range will drill more
than 60 Marcellus wells this year, targeting an exit rate of 80 to 100 MMCFeD.5
Meanwhile, in the Nora field in Virginia, Range drilled four horizontal Huron
Shale wells last quarter. To date, nine horizontals have been completed to the
Huron Shale, with average IP rates of 1.1 MMCFeD, while one Berea
horizontal well flowed 1.5 MMCFD. Range plans 220 coal bed, 60 tight
gas sand and 20 horizontal Huron Shale wells in the Nora field (50%
WI) this year.
Elsewhere, Range has completed what it believes to be the best Barnett well
in Hill Co., Texas, to date. The Ellig #1-H initially produced 9.0 MMCFeD and
averaged 4.8 MMCFeD over its first 30 days. Range also completed a pilot proj-
ect to test 250-foot well spacing in southern Tarrant County. The first two pilot
wells had a combined IP rate of 14.0 MMCFeD. Range has more than 1,000
additional locations to drill in the core of the Barnett play and plans 64 (61 net)
new wells for 2009.
Activity for the Midcontinent division in the fourth quarter included the
drilling of 16 (6.2 net) wells with an 88% success rate. In the Texas Panhandle,
Range’s initial offset to its St. Louis discovery yielded production from the St.
Louis Lime at a rate of 2.3 (0.9 net) MMCFeD. A second offset completed for
3.0 (1.1 net) MMCFeD, with a third well currently being completed. Two addi-
tional wells in the Watonga-Chickasha Trend commenced production during the
quarter at rates of 2.0 (1.5 net) and 1.5 (1.2 net) MMCFeD.
In addition, a deep Anadarko Basin well encountered significant Springer pro-
duction, commencing sales at a rate of 10.9 (3.5 net) MMCFeD. Drilling has also
continued in the Ardmore Basin Woodford Play, where three wells are currently
being completed. The division plans 44 (25 net) new wells for 2009.
In total, Range averaged production of 386 MMCFeD last year and increased
proved reserves 19% from a year ago to 2.7 TCFe at year-end 2008, replacing
405% of production.
Range focuses on the marcellus continued from page 1
Energy XXi, PVa, crimson, concho and
Questar update e&p activities
Energy XXI produced ~19,200 BOEPD in 2008 but volumes were as high as
26,000 BOEPD in Q4 based (3,000 BOPD) on repairs at South Timbalier 21 and
new Barolo well (1,700 BOEPD) and two recompletions (1,900 BOEPD com-
bined).Over in Vermilion XXI is drilling the E.A.
McIlhenny #1 well (33% WI) on the Cote de Mer prospect.
The company has found 60 ft net pay (22,300 feet) in the
Cris-A Massive sands a prospect it thinks (interval) holds (gross) 20-40 BCF.
Meanwhile, XXI (16%) is also in the McMoRan-operated Ammazzo deep gas
prospect spudded last November and is targeting 24,500 ft. (25 feet of water).
Penn Virginia has drilled an unsuccessful Haynesville Shale well (Agnor #6-
H) on its northern Harrison County acreage. On the far western side of its
Haynesville acreage, the Hatley #15-H well has been completed. In
all, PVA expects to grow production to 49 BCFe (134 MMCFeD) this
year, up from 46.9 BCFe last year. Last year, PVA grew proved
reserves 35% annually to 916 BCFe at y/e. The company has also reduced its
2009 capex for the third time, from $250 million down to about $215 million.
(For more information on PVA’s midstream sub Penn Virginia Resources see
PLS’ latest Midstream News.)
Houston-based Crimson Exploration acquired 13,000 net undeveloped acres
in Sabine, Shelby and San Augustine Counties last year with plans to target the
Haynesville, James Lime and Travis Peak. In South Texas, Crimson has com-
pleted two wells in Liberty County this year, with the first
flowing 2.7 MMCFeD. Crimson has set a $25 million capex,
down from $141.8 million in 2008. Unfortunately, volumes
are down to 50 MMCFeD, down from 52 MMCFeD in 2007 and the 4th quarter.
Crimson expects volumes to slip to 48 MMCFeD according to one report.
Crimson reported proved reserves of 132 BCFe (69% PDP, PDNP) at year end.
Concho Resources, fresh off last year’s Henry acquisition ($635 MM+) is
still operating eleven rigs with 6 rigs targeting the Yeso (SE New
Mexico) and 5 working the Wolfberry. Concho produced 7.1
MMBOE last year, up 41% from 2007 including half from Henry.
Overall, Concho participated in 243 wells (199 operated) last year
and 242 recompletions (226 operated)
Questar increased its production 22% to 171.4 BCFe (470 MMCFeD) last
year and grew proved reserves (2.218 TCF) 19%. However, the company is low-
ering 2009 guidance from 189 BCFe to 183 BCFe which would target 501
MMCFeD. These numbers are still up 7% from 2008. Questar
is spending less, as it is now targeting $1.3 billion, off an ear-
lier target of $1.6 billion and way off 2008 capex of $2.5 billion. Questar gets
about 283 MMCFeD from the Rockies and 185 MMCFeD in the MidContinent.
The firm has offices in Denver, Oklahoma City and Tulsa. Its corporate head-
quarters are in Salt Lake City.
Unit’s E&P segment produced a company record 16.8 BCFe (187 MMCFeD)
in Q4, up 6% sequentially and 15% annually. Total production for 2008 was also
a company-record at 63.4 BCFe (174 MMCFeD), at 15% over 2007.
During 2008, Unit spudded 276 new wells, completing 257 for an 88%
success rate. Proved reserves at year end rose 11% from a year ago to
569.4 BCFe. Unit ($290 MM budget) plans to participate in 175 wells
in 2009, 37% less than 2008. On the drilling side, Unit Corp said 55 of its 132
rigs are drilling.
Abraxas Petroleum is producing 250 BOPD from its Lakeside #1H well
(Turner, 12,500 Ft VD, 3,800 Ft Lateral, 7-Stage Frac, 100% WI) in Converse
Co., Wyoming. Abraxas has 14,000 net acres in the Brooks Draw Area. Abraxas
spent $175 million last year including $135 million on prop-
erty acquisitions. Proved reserves rose by 41% to 150.7
BCFe. Reserve additions of 53.6 BCFe were partially offset by 9.6 BCFe (26
MMCFeD) of production and 20.3 BCFe in downward revisions, for a 555%
reserve replacement for 2008.
gmX completes shale transition
GMX Resources began its Haynesville development last August and before
Q4 had completed its first horizontal, flowing at 7.7 MMCFD in Harrison
County. The company’s second well, the Bosh #11H, flowed 7.6 MMCFeD over
24 hours, and (Baldwin #17H) flowed 8.7 MMCFeD in its initial test. Four more
Haynesville horizontals are drilling ahead.
GMX has reduced its 2009 capex for the second time to
$150 million, to drill 14 and complete 16 net horizontal
Haynesville wells. GMX is also transitioning to two H&P FlexRigs for its
Haynesville wells, to increase the number of wells drilled per year.
In 2008, GMX drilled and completed 90 (60 net) wells and produced 12.9
BCFe (35 MMCFeD), up 48% from 2007.GMX’s proved reserves at year end fell
7% from y/e 2007 to 465.3 BCFe.
At press time, GMX said it received a letter from Peter Seldin, of Centennial
Energy Partners, the company's largest single shareholder. Seldin requested that
the board begin to evaluate strategic options.
Since 1988, PLS’ marketing arm and technical affiliates have advised
on more than 1,200 engagements for the sale or trade of producing prop-
erties, overrides, prospects, and midstream assets. In aggregate, PLS and
its affiliates and principals have handled over $5.0 billion in assets and
worked for more than 500 U.S. and Canadian firms. Equally impressive is
our depth – handling individual and package sales from $100,000 to
$750,000,000 in value.
PLS and our technical affilates, Burks and AEA, know how to handle
divestment projects by making the right technical presentation and reach-
ing the best buyers. And fees are flexible. Selling assets is the last chance
to make a profit on a property. Shouldn’t you maximize that opportunity?
Contact PLS today to learn more —
Parker sees falling
rig utilization rates
Parker Drilling posted a Q4 net
loss of $39.5 million on a $100-mil-
lion impairment of goodwill charge.
For the year, Parker posted net
income of $25.6 million on
revenues of $829.8 million.
Company wide, U.S. drilling
revenues declined 34% from a
year ago to $33.6 million in Q4 while
international revenues rose 24% to
$86.2 million.
Average utilization for its barge rigs
in the Gulf was 61% in 4Q, down from
83% a year ago and 79% in Q3 2008.
Barge utilization has lowered to 20%.
Parker’s barge day rates in the GOM
averaged $40,100 per day in Q4, com-
pared to $40,900 per day a year ago,
up from $39,900 per day in Q3.
Its international utilization rate was
better, at 87% in Q4, up from 82% a
year ago and 84% Q3. The Latin
American fleet operated near 90% uti-
lization, with nine of ten rigs working
throughout the quarter. Nine of
Parker's ten rigs in the CIS region were
under contract throughout 4Q and six
of the eight rigs in the Asia Pacific
region worked during the quarter. One
rig was released in late December.
Parker’s capital expenditures for
2008 totaled $197.1 million, with
$31.2 million to complete the con-
struction of international land rigs,
$53.5 million for the construction of
two new build land rigs for Alaska and
$36.8 million for tubular goods and
other rental equipment.
Barge rig utilization rate in the Gulf
of Mexico has plummeted to 20%.
Committed to being America’s #1
independent royalty purchaser.
© 2008 Noble Royalties, Inc.
Dallas • Houston
5VISL9V`HS[PLZ0UJ
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Cash for
current and
future reserves
Discreet, Simple,
timely closings
With over $800 million in purchases to date and an excep-
tionally high offer acceptance, it’s no wonder why smart
owners sell to Noble Royalties. Our offers maximize value.
Our evaluation is first class. And, as our record shows our
purchase transactions close on time. is year we plan to
write more than a half billion dollars in checks for the direct
and immediate purchase from individuals, companies and
estates. Shouldn’t one have your name on it? Talk to us first.
Write on.
Write on.
Write on.
Contact J. D. (Doug) Bradley, CPL | Senior Vice President, Land
972.788.5839 | jdbradley@nobleroyalties.com
Aquisition & Divestiture
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Information. Marketing. Advisory.
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Phone: 713.650.1212 • Fax: 713.658.1922 • www.plsx.com In Canada, Call 403.294.1906
PLS is the industry’s one-stop shopfor information,
marketing and advisory services. PLS has long assisted
clients in sourcing business opportunities, better
managing their portfolios and facilitating profitable
transactions.
On the information front, PLS is one of the industry's
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industry's multiple listing service and operates other
databases including news archives, market activities,
transaction metrics and financial presentations. PLS
also provides unique advertising opportunities and
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On the marketing side, PLS handles divestments,
prospect brokerage, midstream asset sales and
corporate communications. PLS also assists sellers
with technical and engineering services through
regional affiliates including Burks Oil & Gas Properties,
American Energy Advisors, Wellspring Partners and
DivestPro Energy Partners.
Finally, PLS also offers advisory services for clients
seeking support, valuation services, buyer assistance,
deal origination and access to capital markets. Forover
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advisory services for the oil and gas industry. For more
details on PLS’ products and services please call
713.650.1212 or surf www.plsx.com.