Today, Chespeake, Devon, and Tudor, Pickering and Holt published objections to Lynn Pittinger's and my articles on the Barnett and other shale plays. I choose not to respond at this time since there is little substance in these commentaries.
The only response that is appropriate at this time is contained in the accompanying graphs of cumulative Barnett Shale production. These are not interpretations but ha
rd data. I leave it to our critics to explain why production trends cannot be extrapolated to the levels claimed by operators (click images to enlarge).
10 comments:
Sure doesn't seem that all the long-term environmental damage is worth the short-term gain in energy. If we had much better regulation, it would make the risks a little easier to take.
Arthur,
Can you post a link to the rebuttals given by these companies? Thanks for the interesting perspective!
I would also like to see the rebuttals if it's at all possible.
TSVanLeeuwen and Miguelito,
I've posted the rebuttals as you requested. I am interested in your comments if you have time. AEB
Art,
I've seen much the same you have or anyone who took an objective look at the data avilable. If the plays were really as good as stated 100% ROR why in the hell would you dilute your stock or bring in partners. Simply go to the bank and convince them you are making 100% ROR they would give you all you needed plus some. Also; why have none of the major players showed anywhere near that return on equity. This fact alone tends to give credence to the lesser EUR's. My haynesville take is 1/3 0-2 bcf 1/3 2-4 bcf and 1/3 4+ bcf and that is not a pessimistic take. The king will have no clothes the day they lay the rig down. Been there done that. All capital is consumed in maintaining production.
".....why in the hell would you dilute your stock or bring in partners."
to keep the ponzi scheme going ?
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The Barnett Shale play has really become just the largest natural gas play in the state of Texas and, as new wells sprout like bluebonnets across the Fort Worth region, it might soon become the largest in the nation.
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