Louisiana’s two major oil and gas companies, Tuscalosa Marine Shale and Haynesville Shale, have taken a very different path over the past decade. While poor market conditions have made TMS a major hazard for most drug users, Haynesville Ridge counts are on the rise due to rising natural gas exports.
Patrick Kureges, communications director at the Louisiana Department of Natural Resources, tells the latest DNR information. There are currently only one active digging license in TMS and dozens in the Hinsville game. “We are seeing about 30 guns being distributed between the Heinsville Shale and the Cotton Valley,” he says. “That has remained stable.”
The game boom started about a decade ago with a little admiration. Advances in horizontal drilling and hydraulic fracturing for the first time have allowed oil producers to acquire previously traded products. At the time, relatively high oil and natural gas prices encouraged experimentation and risk, and U.S. production began to grow.
The 8 million-acre TMS, which covers 8 million acres in Louisiana and Mississippi, has long affected oil companies and economic development officials, but the challenges of dictatorship and the fall of 2014 have left the economy unaware of its potential.
Meanwhile, there is a completely different reality in northwestern Louisiana. Haynesville has introduced the charcoal to the growing LNG export business, making it attractive.
“You (in Hesnesville) will not find dry holes,” says Cureges. They know how to dig, how to break, and how to get the most out of it. Louisiana now produces about 3 trillion feet a year in gas production, mostly from Heinsville. Read the full story from the new edition Business Report over here.