The Haynesville shale in East Texas/North Louisiana region

At the end of 2015, we had 495 Bcfe of proved reserves (79%) in East Texas/North Louisiana. The properties in this region are essentially all natural gas. Production from this region, which averaged 108 MMcfe per day in 2015, increased by 26% from 2014.  We currently have 68,300 net acres that we believe are prospective for Haynesville or Bossier shale development. We believe that our acreage has over 6 Tcfe of combined reserve potential for these two plays. Advances in completion technology are resulting in improved recoveries through longer horizontal lateral length and substantially larger well stimulation.  The ten wells we drilled on this acreage in 2015 had an average initial production rate of 24 MMcf per day, making them the best shale gas development wells we have drilled since we began drilling Haynesville horizontal shale gas wells in 2010.  In 2015, this region accounted for 82% of our natural gas production at 107 MMcf per day.  Our natural gas production in the region increased 26% in 2015 due to the success of our drilling program.  We are currently budgeting $90 million to drill nine long lateral natural gas wells in 2016.

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5300 Town and Country Blvd.
Suite 500
Frisco, Texas 75034
(972) 668-8800

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