Louisiana Austin Chalk: Hundreds of Millions Down the Drain?

Journal of Petroleum Technology 

Strong initial results in 2017 from EOG Resources' Eagles Ranch 14H-1 well sparked a land rush in the Louisiana portion of the Austin Chalk, where some big independents spent nine figures to gain swaths of acreage they hoped would be as productive as the Texas side of the play. Their plan was to come into the geologically challenging Louisiana Chalk with modern drilling and completions techniques and produce the oil economically, launching the next big unconventional play. But, after testing the play this year, the most that early driller ConocoPhillips has to show for its work is a whole lot of water. The Houston independent on 30 September said that it "has discontinued exploration" in the Louisiana Chalk and will record a $120-million pre-tax "dry-hole expense" in the third quarter primarily related to the play. ConocoPhillips completed three wells in the four-well drilling program, all three of which were duds.

  Country: North America > United States > Louisiana (1.00)
  Industry: Energy > Oil & Gas > Upstream (1.00)
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