Prodigy Oil and Gas in Haynesville Shale

Prodigy Oil and Gas has acquired acreage in the Haynesville shale area of East Texas. Shawn Bartholomae, CEO of Prodigy Oil and Gas, has expressed his continuing interest in these active areas of natural gas development.

The Haynesville shale play of northwest Louisiana and East Texas burst on the scene in early 2008. The oil and gas industry quickly applied what had been earlier learned from the Barnett Shale of Texas, thereby producing impressive results relatively quickly. Chesapeake Energy is the largest leaseholder of the Haynesville Shale with more than 500,000 net acres followed by EnCana and Shell with over 300,000 net acres each. Another large independent also has over 300,000 net acres targeting the Haynesville. Activity increased dramatically in mid 2008 as oil and gas prices soared. As of 2010, the Haynesville shale has more rigs drilling for gas in the formation than any other play in the US.

The Haynesville shale is a shale of Upper Jurassic age that lies between the Smackover Formation and the Cotton Valley Group. Similar to other successful shale plays, the Lower Bossier/Haynesville Shale rock is both the source rock (rich in organic content) and the reservoir rock (having sufficient porosity and permeability to store and transmit hydrocarbons). The formation is a black, organic-rich shale that is the upper member of the Louark group. It is divided into upper and lower members with the lower members being the subject of primary interest to the industry. The lower member is 300-350 feet thick in the most prospective East Texas areas and approximately 200-250 feet thick in Northwest Louisiana. The shale produces from depths of approximately 10,000 feet.

Mr. Bartholomae stated Prodigy Oil and Gas and will be considering additional acreage acquisitions in the area.