Hi, I am Nissa Darbonne, executive editor-at-large for Hart Energy. Thanks for joining us. I'm visiting with Meg Molleston. Meg is president and CEO of GeoSouthern Energy [Partners], a very successful Eagle Ford developer that moved on to developing the Haynesville, and is now working on its Block 2 property in the Haynesville, having sold Block 1.
Nissa Darbonne, executive editor-at-large, Hart Energy: Meg, thank you for joining us today. And in your Block 2, tell us more about what you're looking at in there and how it's going. I think you're developing the mid-Bossier there.
Margaret Molleston, president, GeoSouthern Energy Partners: We're developing both the Haynesville and the mid-Bossier. Our laterals are about equal. We are doing 15,000 foot laterals. Most of our acreage allows us to do that, and we're fortunate in the configuration of the block so that it does allow it. We found the longer the lateral length, the more economic, the wells are better, so longer laterals equal better economics for us. Fifteen thousand footers.
ND: And I think your block to the property itself was something that maybe wasn't considered the lowest hanging fruit at one time.
MM: No, it wasn't. We had a lot of people that shied away from it and we ended up going into the block after Williams acquired it through Chesapeake. We entered into an agreement with them in August of 2021 on a drill-to-earn basis. And we have been very, very happy that we went and took the chance. You know, we didn't know what kind of CO2 we were going to get. We didn't know whether the Bcf per lateral foot was going to be equal to or better than the Haynesville, but we're finding that it is. It's really looking quite good these days.
ND: What is the CO2 content?
MM: At this point, I would have to ask my engineers exactly what that is, but it's manageable. I mean, it's nothing that we've had to put any extra facilities in or do anything other than manage it.
ND: And Williams happens to be adding a CCS component to its new build pipe out of the Haynesville too. So that will completely bury, in effect, any CO2 from there and elsewhere in the play. And I wanted to ask you lastly about obstacles going forward in developing the Haynesville, whether they're surface obstacles, there's subsurface obstacles. A little bit of both.
MM: Well, again, we're fortunate that we have Williams as our partner because they're moving ahead and expanding their leg line for us, as well as one thing we've run into—the treating and the treatment centers are old. They were put in 10-plus years ago. And when these treating centers were designed, they were designed for, you know, 10-million-a-day wells, 13 million-a-day wells. Well, these wells are producing 50 a day. So Williams has helped us in that regard. And it's been quite an obstacle. We're fortunate. I know that a lot of the operators are dealing with that.
ND: Thank you, Meg. It's kind of surprising me to think that 10 years ago was really in the new American oil and gas timeline. That's a very long time ago.
MM: It is. It's dog years. Ten years equals 70 [years] in oil and gas, so yes. And it feels like it some days.
ND: Thank you, Meg. Thank you very much. And thank you for joining us.
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