Not one to do things in a small way, Floyd Wilson propelled Halcon into the TMS in 2013, picking up 235,000+ acres in the eastern portion of the play. While the western TMS has yet to see much activity, Halcon saw fit to retain 71,500 acres out West including Louisiana’s Rapides, Avoyelles, and LaSalle Parishes. Just a few weeks ago, the company also spud its first well in Wilkinson Co., MS which some think is the heart of the TMS. Results are expected in early May 2014; a second HK-operated well should spud April 2014. |
For those folks looking for a darkhorse TMS candidate, look no further than Contango Oil and Gas whose exploration success blends the offshore assets of the legacy company by the same name with the onshore Woodbine and Buda core assets of the former Crimson Oil and Gas. Together, this management team boasts 28,000 net acres in the TMS. With competition for capital from MCF’s other core plays, including the offshore Gulf of Mexico, Contango likely will deploy a Sanchez like strategy in 2014, opting to participate in non-op wells while the balance of the industry better defines cheaper drilling and completion methods.
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Among the earliest entrants in the TMS and still a fan of its “Massive Oil Potential,” Encana holds 200,000 net acres in the Tuscaloosa Marine Shale and picked the play as one of its five-keepers in its aggressive restructuring late last year. With an estimated 8.0 Bboe in place, management estimates that its position ultimately could produce > 50,000 boepd. With the greatest tenure of TMS production data available, ECA likely will wait to see how wells perform and completion methods evolve in 2014 before getting more aggressive with the 2-rig 2014 plans. |
Among the most recent publicly-traded entities to enter the TMS, Comstock Resources paid Amelia and other entities $54MM for 51,000 net, high working interest acres last December. With concentrated acreage positions in Wilkinson and Amite counties, MS, and St. Helena and East Feliciana Parishes, LA, Comstock's entry appears to be in the heart of the most active, eastern portion of the play. As of March 2014, Comstock's drilling program was still lax on the TMS, with only $27MM of the $450MM available dedicated to drilling 2 wells in the play. |
