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A $46.2 Billion Payday PDF Print E-mail
Written by Keith Kohl Editor, Energy and Capital   
Friday, 31 May 2013 08:26

What's 400 miles long and worth nearly $50 billion to about half a million Texans?

I'd like to give you three guesses, but I have a feeling you might only need one, maybe two — both of which got kick-started about five years ago...

If you think about it, October 2008 wasn't the best time to have an oil and gas boom. After all, it took until October 7, 2008, for the Treasury Secretary to acknowledge that the housing bubble burst. By then, crude oil prices had begun their precipitous drop as demand plunged nearly 10% between July and October.

Yet, the implosion of crude prices served only to mask two major events for the Texas oil and gas industry that year: the resurgence of activity in the Permian Basinand the birth of the Eagle Ford Shale.

The latter took place on a single drilling pad in La Salle County.

Specifically, it was a small, relatively unknown company called Petrohawk Energy and their rig crew who drilled the STS-241-1H well in the South Texas...

Over 14,000 feet and two million pounds of proppant later, the well was placed on production at a rate of 9.1 million cubic feet of natural gas equivalent per day. Soon after, a second well affirmed what we suspected: that Petrohawk had discovered a new shale gas field.

The discovery sparked a massive drilling rush that effectively mapped out the Eagle Ford's southern gas and northern oil windows:

efs-map

Up, Up, and Away

.....read more HERE

 
Greg Weldon
17 April 2014 ~ Michael Campbell's Commentary Service

We are pleased to introduce a new feature to the Inside Edge with the first of a regular contribution from Greg Weldon. Greg's video and...   Read more...


On Real Estate

Over the past 3 or 4 years I have watched with keen interest (and participated) in the ups and downs of the American and Canadian real-estate markets. Recently published stats have fueled a bit of media frenzy which has become an interesting study in conflicting market noise.

Read the full article here

Food, Shelter & Clothing

Most of us think short term, smoke when we know it’s bad for us, eat junk food when we know we shouldn’t and make short term decisions on investing when we know there are long-term trends that are undeniable.

Read the complete article here

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