Angelle: Industry recognizing 'a very real opportunity' in Tuscaloosa Shale
A third horizontal well in the Tuscaloosa Marine Shale by Devon Energy is initially producing more than twice the amount of oil—about 259 barrels per day—than its first two wells produced, says Louisiana Department of Natural Resources Secretary Scott Angelle. "Based on their ongoing drilling activity, and the interest expressed by Devon and other energy exploration companies in the Louisiana TMS on both sides of the Mississippi River, it would seem that the industry is beginning to recognize a very real opportunity here," Angelle says in a news release. The latest and highest-producing well Devon has drilled is located in northern East Feliciana Parish. The Oklahoma City-based firm has another in East Feliciana and a third in Tangipahoa Parish. Devon—which last week reported first quarter earnings of $393 million on an oil production increase of 26%—is also drilling two other wells in the Tuscaloosa Shale. One in St. Helena Parish is nearing its target depth, Angelle says, and another in West Feliciana Parish is nearing the point of its turn from vertical to horizontal. The Tuscaloosa Shale is a 2.7 million-acre stretch of land extending from central Louisiana to southwestern Mississippi that's believed to hold billions of barrels of oil. "We know that this formation has vast potential to provide domestic energy for this nation, and jobs and economic growth for this state, but it will take companies time to learn and perfect the most effective means of drawing out the oil and natural gas locked within that shale," Angelle says.
comments powered by Disqus
Real estate recap: DPW reorganization recommendations coming … Capital Region home sales post 5% gain in February … WWII bombing range near Hammond at center of new lawsuit
What Families Are Spending on Prom Night