Rob Turnham, president and COO of Goodrich Petroleum Corp., sat down with Hart Energy’s Jessica Morales to take a look at the path forward for gas in the Haynesville Shale.
“What’s really remarkable, however, is how productive the Haynesville has evolved into over the last six years,” Turnham said. “We went from producing about 1.1 Bcf per 1,000 feet to over 2.5 Bcf per 1,000 mainly through completion methodology changes, optimization and obviously drilling longer laterals.”
Trying to gauge an LNG outlook into 2021, Turnham said, “It has to get better. So much of what’s been done in the past had contracts that were tied to liquids. You are seeing more and more contracts tied to JKM or a European index or something that’s really tied to more gas prices. Again, as demand improves [and] as GDPs come back to where they were or certainly close to where they were, demand will come back for LNG.”
Jump to a topic:
- Natural gas strategy (0:46)
- Winter 2020-21 demand forecast (2:51)
- Gulf Coast advantage (4:56)
- Haynesville versus other basins (7:05)
- COVID-19 impact on LNG (8:39)
- LNG outlook for 2021 (10:25)
- What will the industry look like going forward? (12:17)
Chesapeake Energy separately said in a filing it plans to operate six to eight drilling rigs for the next two years, about half the 14 rigs active on average in the first quarter, as it battles a historic downturn in oil prices.
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The Trump administration has slashed amounts oil and gas companies must pay for access on government-owned land during the COVID-19 pandemic.