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North Caddo drilling, company holds promise for suffering - KTBS.com - Shreveport, LA News, Weather and Sports

North Caddo drilling, company holds promise for suffering industry

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CADDO PARISH, La. (KTBS) -

As of the start of 2014, only six natural gas wells were active in South Caddo Parish's Haynesville Shale.

That's a dismal number when compared to how things where back during the Haynesville's boom. Caddo Parish hasn't lost all of its appeal to attract energy companies. One has been very active but in North Caddo, the area's old moneymaker.

It's Anadarko, a mid-sized oil and gas company based in Texas. It's in search of what is called "wet'' natural gas, which carries  additional compounds such as  propane or butane that can be separated and sold on their own. Anadarko is drilling in the old Caddo-Pine Island Oil and Gas Field.

"This is an area, all throughout North Louisiana and East Texas that is very prone to oil and gas activity," John Christiansen, Anadarko's external relations manager, said. "So, there is, likely, that we are going to find product in the ground. how much of that product and economic it is to develop is still something that we have to determine."

Christiansen stresses the company is still exploring the area. It has drilled less than twelve wells. The first appeared during the first half of 2013. The company has interest in about 100,000 acres of land in North Louisiana. There's room to expand that number in 2014. Christiansen says so far, only one well has been put into production.

"As a company, Anadarko tends to do quite a few wells," Christiansen said. "I'd say at least two dozen or more in field like this before you really feel like you've got adequate data to know how the field will perform."

Christiansen will not confirm if Anadarko has found NGLs in Caddo Parish.

"We're not ready to say what we've found at this point because we need to do some more work before we can really put some definition around what we have," Christiansen said.

Robert Glass, Caddo Parish Public Works director, says Anadarko has invested serious time, energy and money into the area. Glass says the company even proposed building a facility in North Caddo.

"From what I've been told, it would just be a processing facility," Glass said. "We're not talking about a refinery like in Baton Rouge."

The facility would be the first step in getting NGLs ready for production into fuels. NGLs are a hot commodity. Their price is around $10 on the market compared to dry natural gas at around four. Regan Dickens, with Louisiana Oil and Gas Association, says discovering NGLs won't have the same effect the Haynesville Shale boom had on our economy.

"Because liquids are trading at a higher rate, doesn't necessarily mean more jobs or more valuable area," Dickens said. "It just means it's something they can take to market."

Glass says the high activity experienced with the boom shouldn't happen either. That's simply because Anadarko holds most drilling rights in the north.

"In the Haynesville you had a lot of competitors," Glass said. "Competition creates a frenzy. Plus, it was a new thing."

Christiansen says to expect more Anadarko activity into next year.

 

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