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Petrohawk Energy Announces Natural Gas Field Discovery in South Texas

Posted on: Wednesday, 22 October 2008, 09:00 CDT

Petrohawk Energy has announced a natural gas field discovery in the Eagle Ford Shale in south Texas. The new field in La Salle County, Texas, was discovered after extensive regional subsurface and seismic mapping, geochemical analysis and petrophysical studies.

The discovery well, the STS 241-1H, was drilled to an approximate true vertical depth of 11,300ft, during which extensive coring and open hole logging was performed. A 3,200ft lateral was drilled and subsequently fracture stimulated with over two million pounds of sand in 10 stages.

The well was placed on production at a rate of 9.1 million cubic feet of natural gas equivalent per day, with 7.6 million cubic feet of natural gas and 250 barrels of condensate per day.

A confirmation well, the second well drilled on the project, the Dora Martin 1H, which is approximately 15 miles from the discovery well, has been drilled, cored and logged. The quality of the Eagle Ford Shale in this well appeared to be superior to that found in the STS 241-1H. The company is currently drilling the lateral on this second well. A third well is expected to spud by mid-November 2008.

Petrohawk expects drilling and completion costs for development wells to range between $5 million and $7 million. Development costs, including one rig that will operate continuously on the project, have already been included in the company's published 2008 and 2009 capital plans.

Source: Datamonitor

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