One growing problem in the Haynesville, and other unconventional plays, is the increasing completions queue. Many companies have stated that the switch from 24 hour operations to strictly daylight operations of the service companies is a main reason for the delay. Apparently, service companies were having equipment maintenance issues due to this 24 hour schedule and decided it was too demanding.
Penn Virginia has found what it hopes is a solution with the announcement of a fracturing services agreement with C&J Energy Services. C&J Energy Services will provide high-pressure hydraulic fracturing services for one year for Penn Virginia’s Haynesville and Mid-Continent operations, including Granite Wash. Penn Virginia said during the first quarter they were were awaiting completions for each of their 1Q Haynesville drilled wells and 3 out of 5 of their Granite Wash wells.
On the other hand, one company that is apparently not having problems with the queue is Petrohawk. Due to their “preferred” status, they seem to be not having the same issues with service companies.
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