Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - ENDEAVOUR INTERNATIONAL CORP | h69229e8vk.htm |
| EX-99.1 - EX-99.1 - ENDEAVOUR INTERNATIONAL CORP | h69229exv99w1.htm |
Exhibit 99.2
| Endeavour Unveils New Portfolio of U.S. Resource Plays January 6, 2010 |
| Montana Cohort (Marcellus) Cohort (Haynesville) Hillwood |
| The Haynesville Project - Overview 50/50 venture with Cohort (J-W) Five distinct prospects - Four in Haynesville / One in Cotton Valley 17,700 gross acres (7,250 net acres) 200 + future drilling locations Avg Well Cost: $ 8-9 MM gross Avg EUR per Well: 7-8 BCF gross Avg IP per Well: 15 MMcf/d Acquired 50% interest in 24 wells for $15 MM - 10/30/09 Net Proved reserves:13.1 BCFE Net Production: 3.9 MMcf/d Newest well tested 21 MMcf/d |
| Haynesville Area Highlights Area operators have reported very robust well results from Haynesville Shale completions North LA Area - Industry Highlights Petrohawk Average IP rate of all wells completed to date is ~18 MMcfe/d Recent well IP rates: 13.4 MMcfe/d (Bossier Parish, LA) 18.8 MMcfe/d (Bossier Parish, LA) 15.1 MMcfe/d (Bossier Parish LA) 23.3 MMcfe/d (De Soto Parish, LA) Forest Oil 14 Vertical well test completed Two most recent horizontal well IP rates: 20 Mmcfe/d and 14 MMcfe/d (Red River Parish, LA) Two additional wells tested at an average of 5 MMcfe/d (locations undisclosed) EXCO Resources Horizontal IP rate range of last 5 wells in DeSoto Parish, LA: 21.4 MMcfe/d - 26.1 MMcfe/d Drilled horizontal well in Caddo Parish, LA: 8.6 MMcfe/d J-W / Cohort Energy Caspiana & Elm Grove Fields Cupples 10 #1-H, IP=18 MMcf/d, 3800' Knox Min. 6H, IP=11.8 MMcf/d, 2500' Dalton 10 #1-H, IP=11.5 MMcf/d, 3453' Dean 17H, IP=10.8 MMcf/d, 4100' Pennwell 15H , IP=7.8 MMcf/d,3784' Whitaker 23H , IP=6.5 MMcf/d, 2200' Broussard 5H, IP=5.4 MMcf/d, 3500' White 16 #2-H, Frac 7/20/09 Lower rates a result of short laterals or proximity to faults Comstock Drilled 5 horizontal wells recently: 7.4 MMcfe/d (Harrison Co, TX) 7.2 MMcfe/d (De Soto Parish, LA) 15.1 MMcfe/d (De Soto Parish, LA) 16.2 MMcfe/d (De Soto Parish, LA) 11.6 MMcfe/d (De Soto Parish, LA) Endeavour's partner has participated in 17 horizontal and 6 vertical wells to date (14 wells operated) Vertical wells drilled to secure acreage Latest Endeavour (Cohort operated) horizontal well 24-hour rate of over 21 MMcfe/d Last 2 horizontal wells drilled in an average of 42 days, with an average drilling cost of $7.5 MM Northern Louisiana Has Been the Most Active and Prolific Haynesville Area Endeavour /Cohort Woodardville Prospect I. Minerals 3 #1-H , IP=21 MMcf/d, 4648' lateral Metcalf Prospect Bull Bayou Prospect Grand Cane Prospect |
| The Marcellus Project - Overview 50/50 venture with Cohort (J-W) Cohort has multiple project areas on 48,000 acres in west PA (19,750 net to END) All Cohort operated 300+ future drilling locations Avg Well Cost: $3.5 MM gross Avg EUR per Well: 3-4 BCF gross Avg IP per Well: 3.5 MMcf/d gross Close to major pipelines Premium gas pricing |
| Western PA Area - Industry Highlights Isaiah Prospect Jonah Prospect Daniel Prospect Malachi Prospect Samuel Prospect Ruth Prospect EOG Resources Hz. Completion > 3.0 MMcf/d 3,000 ft. lateral -1.5 MMcf/d IP (Elk Co.) 2 Additional vertical wells (Potter Co., Clearfield Co.) EXCO Resources Drilled 2 horizontal wells 1.0 to 2.6 MMcf/d IP (Centre Co.) Anadarko Petroleum Drilled 4 vertical wells (Clinton Co.) Range Resources Drilled 4 vertical and 1 horizontal well; vertical IP rates of 6.3 and 2.3 MMcf/d (Centre Co. and Lycoming Co.) Stone Energy Drilled vertical well w/ 0.5 MMcf/d IP rate (Clinton Co.) Acreage is beginning to increase in activity (currently bracketed by most active parts of the play in NE and SW Pennsylvania) Approximately 44% of J-W acreage is not subject to lease expiry Large acreage blocks will facilitate horizontal drilling Endeavour/Cohort Daniel Prospect - contains 49% of Endeavour JV Marcellus acreage C-4 IP Rate - 300 Mcf/d C-5 - Waiting on PL C-7H IP Rate - 1.1 MMcf/d, ~3,000' lateral Isaiah Prospect Jonah Prospect Malachi Prospect Ruth Prospect Samuel Prospect Marcellus Permits Issued 2007-2009 (from publicly available data). # Marcellus Area Highlights |
| Alabama Frontier Gas Shale Play - Overview 50/50 venture with Hillwood effective January 5, 2010 "First Mover" position in frontier gas shale play 50% interest in 160,000 gross acres mostly contiguous (63,000 net to END) Initial cost of entry - $8 MM Up to 400 potential drilling locations Plan to drill 4 wells in 2010 |
| Montana Frontier Oil Shale Play - Overview 50% of working interests owned by Independent Montana Producer - (25% WI) 300,000 gross acres (75,000 net to END) Frontier oil shale play - multiple targets 900 potential drilling locations Plan to drill three test wells in 2010 JV Area |
| Potential Production Impact - Total New Resource Plays 2010 2015 |