October 2012
Features
ShaleTech: Haynesville operators look to exports for relief
Despite being home to some of the most prolific gas wells in the U.S., the once-celebrated Haynesville-Bossier shale has been relegated to little more than an afterthought, as cellar-dwelling commodity prices and comparatively excessive drilling and completion costs force even the most resolute operators to shut in and await better times.
For now, even the nation’s largest gas producer admits that profits are nearly impossible to come by for players in the non-liquid sectors, making new drilling an unjustified exercise. Rex Tillerson, the typically close-to-the-vest CEO of ExxonMobil, said the operator is making “no money” on domestic gas, going so far as to tell the Wall Street Journal in late June that “we are losing our shirts.”
