A look back at DUG Haynesville 2018
The inaugural DUG Haynesville conference and exhibition gathered 779 oil and gas professionals to hear the latest on Haynesville production from companies like Castleton Resources, Tellurian Inc., Goodrich Petroleum and more. Competing with the Marcellus and Utica, Haynesville rig count has risen 48% in 2017.
After a couple of dismal years for E&P's in northern Louisiana, the Haynesville Shale is "roaring back" vice president Time Beard said during the inaugural DUG Haynesville conference and exhibition's opening keynote. Beard said technological breakthroughs with longer laterals and improved completion designs have led Chesapeake to roughly 30% production growth in the Haynesville since 2016. He also pointed to an even brighter future play with the possibility for refracks and a recent "monster well" in the Bossier.
A Look Back at DUG Haynesville 2018
In the past year, the Haynesville has added nearly 50% more rigs. As of February 16, 2018, operators deployed 50 rigs in the play - compared to 34 in 2017. By comparison, the Marcellus Shale is running 56 rigs, according to Baker Hughes, A GE Company.
Production has also jumped with a February forecast of about 8 billion cubic feet of gas per day (cf/d) - volumes were last seen in the region in 2013, according to the U.S. Energy Information Administration (EIA). "The Haynesville was trying to find its way... and then it came roaring back when it found its thing and its thing is longer laterals, bigger completions and producing wells appropriately," said Tim Beard, Vice President of Chesapeake.
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DUG Haynesville | Opening Keynote - Tim Beard
For additional DUG Haynesville 2018 coverage:
DUG Haynesville 2018 Networking Luncheon