Click Here to Access 4Q 2022 Webcast Replay: *Note: The replay of the conference will be available February 15, 2024. 2023-01-12 - Equinor experienced a power outage at the Johan Sverdrup oilfield, leading to a reduced production rate for two consecutive days. . East Daley recently predicted sub-$2 natural gas prices as a result of oversupply in 2023. We hope you enjoyed your trial to the website. Ravnaas said others are taking notice of the improving market. Oil & Gas 360 c/o EnerCom, Inc. 410 17th Street Suite 250 Denver, CO 80202 360support@enercominc.com 303-296-8834 E-mail for Advertising Information or call 303-296-8834 x 243 According to Platts Analytics, the ongoing midstream buildout from the Haynesville is helping to debottleneck producer access to the Gulf Coast export market, making it strategically placed to supply exporters. Although some remained skeptical of the shales potential, the approximately 9,000-sq-mile formation has proven itself worthy of the praise it received at its inception. On the other hand, crude oil production in the shale is expected to maintain flatter recovery . Natural gas is also reliable and flexible, used in many industrial processes that produce a wide range of materials and goods such as glass, steel, plastics, pharmaceuticals, food products and clothing. Analysts from J.P. Morgan found in its September JPM Natural Gas Reservoir report a 54% increase in Haynesville rig activity from the 46 average count in 2021 to 71 in the first half of 2022. According to data by the EIA, Haynesville natural gas production accounted for about 13 percent of all U.S. dry natural gas production in February 2022. Naturally high-pressured reservoir raises gas to the surface,reducing initial artificial lift and associated costs. Last reply by Skip Peel - Mineral Consultant Feb 13. Drilling Results Comstock spent $483.6 million during 2020 for drilling and development activities in 2020. February 21, 2023 Haynesville Shale Lower Natural Gas Prices Lead Comstock to Cut Rigs in Haynesville As natural gas prices swing lower from 2022 highs, Haynesville Shale-focused Comstock. Weve also drilled our second well in this region, which is near the Circle M called the KC Block [ph], which was successfully drilled and completed that is expected to be turned to sales this month, Allison said. Tellurian will fund the purchase with cash on hand and anticipates closing on the EnSight assets in the third quarter of 2022. Located in northwestern Louisiana and sprawling into eastern Texas, the Haynesville Shale play was thrust into the spotlight in March 2008. Powered by, Badges | But indications are that the third-largest producing gas shale in the U.S. is geared up for a robust 2023 if commodity prices hold. 2023 Hart Energy. Total 2022 production from a 501,000-net-acre position in the southwestern core of the Marcellus-Utica is expected to range from 3.2 Bcfed to 3.3 Bcfed. Fr nhere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklrung und Cookie-Richtlinie. Youll see that our creative team is continuing to push beyond their comfort zone to create that WOW experience for every clients play, tool or oil and gas technology project with our animated graphics. How can one enforce the No-cost clause in a lease? The Houston company behind the massive project has agreed to. 1723 Analog Dr. Started by Rebecca Lane in Shale Related Topics. Next month, the. The company will maintain a disciplined capital reinvestment strategy, anticipating a 2022 reinvestment rate of approximately 47%. Last reply by Gayila B Feb 16. More than 2,500 Subscribers rely on our data each day. Following a late third-quarter ramp-up in completions on its comparably modest 24,000-net-acre leasehold, Goodrich expects production to exceed 150,000 Mcfed, entering the fourth quarter, compared to 125,000 Mcfed in the third quarter. Natural gas production in the Haynesville declined steadily from mid-2012 until 2016, due to its relatively higher cost to produce natural gas compared with other producing areas, according to the EIA report. Oil Rig Drawing Well Logging Blowout Preventor Salt Water Disposal, Drilling Geology Illustration available for license. Shale Experts offers the most COMPLETE coverage of the Haynesville Shale. 2023 Hart Energy. Started by Skip Peel - Mineral Consultant in Shale Related Topics on Saturday. HOUSTON--(BUSINESS WIRE)-- Today, the Haynesville Region is the third largest natural gas producer in the United States, behind only the Appalachian and Permian basins. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. The EnSight asset is a great fit with Tellurians existing position in the Haynesville Shale and allows us to step into an ongoing development program and bring on-line significant additional natural gas volumes in the fourth quarter of 2022.. It is one of the most revenue-generating shale plays in the U.S. Rextag database of energy infrastructure assets. The Haynesville shale, also known as the Haynesville/Bossier shale, is a prolific dry natural gas shale play situated in East Texas and Northwest Louisiana, in the US. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. That makes directional drilling and hydraulic fracturing popular avenues for tapping into its gas reserves. Posted by Skip Peel - Mineral Consultant on February 24, 2023 at 18:14 in Shale Related Topics; View Discussions (6) Management estimate for 2023 based on a capital budget of ~$330 million that has not been approved by the Tellurian board of directors. The Haynesvilles close proximity to existing infrastructureincluding an extensive pipeline system, processing plants and Gulf Coast LNG export terminals makes the play an attractive operating environment with efficient cycle times from drilling to sales. In the Haynesville, weve made significant strides with midstream capacity, CEO Nick DellOsso said on the earnings call. Haynesville production accounted for about 13% of all U.S. dry natural gas production in February 2022, she said. Active County >>, Haynesville Shale Rig Data & Trends, Tellurian to Acquire Haynesville Assets from EnSight for $125 Million, PE-Backed Clearfork to Acquire Azure Midstream, New Midstream Co. Secures Capital from EnCap Flatrock, Enable Midstream Gets Approval for Gulf Run Pipeline, More Midstream In the first 6 months of this year, fewer than 4 thousand horizontal wells came online in all the US shale basins, the lowest number . In January, Haynesville production gas averaged over 13 Bcf/d as a wave of new rig additions lifts the basins total to its highest since January 2020, data compiled by S&P Global Platts Analytics shows. Shreveport, Louisiana, United States . It was named after the town of Haynesville in Claiborne Parish Louisiana, about 65 miles northwest of Shreveport and just south of the Arkansas border. 2023 Shale Experts, All rights reserved. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. Rusk Sabine San Augustine Shelby Smith Upshur Wood, In 2017 the USGS announced it had produced an updated calculation that shattered any other prior estimates of recoverable gas in the Haynesville. Joi Lecznar is operating three rigs and one companion frac spread, but is still formulating the 2021 program, which will be presented to stakeholders in February, says Investor Relations Director David Erdman. Richardson, TX 75081. For Haynesville producers, current prices offer a generous margin to sustain future growth. Haynesville natural gas production accounted for about 13% of all U.S. dry natural gas production in February 2022. The effective date of the transaction is August 1, 2022. The U.S. will become the biggest seller of the super-chilled fuel in 2025., As reported by oilprice.com Upon closing of the transactions, Chesapeake plans to operate two rigs on the acquired properties during 2022, resulting in a total of 9 - 11 gas-focused rigs and 2 - 3 oil-focused rigs. The company reported 334,716 boe/d in first half 2022 production from the Haynesville, comparable to the total 887,668 boe/d produced by the company across all its assets, according to Enverus data. In addition to its overall size the Haynesville is known for high its porosities, making directional drilling and hydraulic fracturing popular avenues for tapping into its gas reserves. We were aggressive on gas and everybody hated it, CEO Robert Ravnaas said. Dry natural gas production from the Haynesville shale play in northeastern Texas and northwestern Louisiana reached new highs in the second half of 2021, and production has remained relatively strong in early 2022. Dry gas is a pure gas well as seen in Haynesville, Marcellus, Utica, and Fayetteville, as opposed to wet gas, or associated gas, as seen in oil rich basins like the Permian and DJ basins . Read More, Badges Report an Issue Terms of Service. Report an Issue | The Haynesville is set to become the largest source of gas output growth in the US, forecast to add about 10 Bcfd from 2020 to 2035, growing by 86% during that timeframe. USGS 2016 estimates undiscovered, technically recoverable mean resources of 1.1 Billion Barrels of Oil & 195.8 Trillion Cubic Feet of Gas in the Upper Jurassic Haynesville Formation. Supply of crude oil dropped by 17.8% in May 2020 and since then kept a relatively stable level at 33,300 barrels per day (bd). Look, experience and, Location Sandwiched between the also unconventional Cotton Valley, Bossier and Smackover formations, the Haynesville Shale is one of the most notable plays along the U.S. Gulf Coast. Comstock Resources is a leading independent natural gas producer with operations focusedon the development of the Haynesville Shale in North Louisiana and East Texas. Driven by newer technology, operators have extended lateral lengths from 4,500 feet to 7,500 feet with higher proppant intensities per foot. Last reply by Skip Peel - Mineral Consultant Feb 22. By comparison, wells in the Marcellus in the Appalachian Basin are shallowerbetween 4,000 feet and 8,500 feet," Fleury wrote. Sie knnen Ihre Einstellungen jederzeit ndern. Started by Skip Peel - Mineral Consultant in Shale Related Topics. The LEAP, Index 99, and the CJ Express pipelines have since alleviated these potential strains, with utilization rates currently back near 70%. 2022 Pipeline & Gas Journal, 2022 Gulf Publishing Holdings LLC. Started by Skip Peel - Mineral Consultant in Shale Related Topics. 2023 Created by Keith Mauck (Site Publisher). Robertson LRR Pecos Valley LLC. Quantum Energy Partners-backed Rockcliff Energyproduces more than 1Bcf/d of naturalgasfrom East Texas' Haynesville shale formation. One of the first operators to enter the basin, Chesapeake was the Haynesvilles largest producer in the first half. Natchitoches Ouachita Red River Sabine Webster, Angelina Cherokee Gregg Harrison Marion Nacogdoches Panola ", (source: U.S. Energy Information Administration), (Source: EIA, based on data from CME Group as compiled by Bloomberg, L.P., and Baker Hughes Company). Ellie Grace/1HA . Active Operators >>, See FULL list of Track A&D/M&A transactions by: buyer, seller, deal value, production, reserves, acreage, price per BOE, Access select maps from operator presentations for acreage, acquisitions, trends, and more, Track the latest well results and performance from operators in the Permian-basin, Track spending quarter by quarter as operators adjust spending throughout the year, Property Listings (Assets for sale by Operator, State, County, Region, Type), Still not sure? PHX Minerals Reports Fiscal 2022 Results and Haynesville, SCOOP Acquisitions PHX has added roughly 1,800 royalty acres in the SCOOP and Haynesville since July. Started by todd graham in Shale Related Topics. Stay in touch with our Daily Email Newsletter. (2) Asset-level EBITDA excludes corporate general and administrative expenses. 2023 Shale Experts, All rights reserved. In addition, they reported the increase in Haynesville activity as one of the key factors that is supporting the supply imbalance in our 2023 natural gas supply-demand work. Williams announced an expansion of gas gathering services for Chesapeake Energy in growing dry gas production areas of the Utica Shale in eastern Ohio and a co Acreage leased but not in production can be anywhere from $500 to $5,000 an acre based on activity in your area and production nearby. Recent gas pipeline scrapes are running ahead of expectations, reaching record highs of ~99.3 Bcf/d in September, with MTD gas production estimated at 98.7 Bcf/d, which compares to the August average of 97.7 Bcf/d and the September 2021 average of 92.7 Bcf/d, the analysts stated. Operating three rigs and two completion . Haynesville natural gas production reached 12.5 Bcf/d in November of 2021 and has been averaging about 12 Bcf/d since, the report's author, Office of Energy Production & Markets Economist Kathryn (Katy) Fleury, told P&GJ. Production growth in the Haynesville has been facilitated by expanding pipeline takeaway capacity out of the Haynesville in recent years. PHXhas added roughly 1,800 royalty acres in the SCOOP and Haynesville since July. Your daily news has saved me a lot of time and keeps me up-to . PHX Minerals Reports Fiscal 2022 Results and Haynesville, SCOOP Acquisitions, Williams Signs LNG Deal Connecting Haynesville Gas to International Markets. Southwestern Energy Announces Fourth Quarter and Full Year 2022 Results; Provides 2023 Guidance. Announces Phase 2 expansion of Haynesville system Reaffirms 2022 adjusted EBITDA guidance of $770 to $810 million Reaffirms 2023 adjusted EBITDA early outlook of $810 to $850 million Declares quarterly dividend of $0.64 per share DETROIT, Aug. 03, 2022 (GLOBE NEWSWIRE) - DT Midstream, Inc. (NYSE: DTM) today announced second quarter 2022 reported net income of $91 million, or $0.93 per diluted . In a call with investors to discuss 4Q2022 earnings earlier this month, CEO Steven Kean said Kinder is moving forward with the $678 million Evangeline, Only a few U.S.-based exploration and production (E&P) companies have provided formal capital spending plans for 2023, but expenditures overall are forecast to decelerate from a year ago. All rights reserved. As output from the Haynesville surges toward prior record highs at over 13.5 Bcf/d now expected by mid-year according to Platts Analytics gas production from associated plays like the Permian, the Eagle Ford and the Bakken has continued to stagnate compared to year-ago levels, leaving the Haynesville well positioned to supply a tighter US market. Started by Ellen Eakin in Shale Related Topics. Comstock also spent $7.9 million on leasing activity. With March-delivered cargoes priced at over $10 and April around $7, US exports could be expected to continue at or near full throttle through the first quarter. matthew.phillips@tellurianinc.com. This site was born out of these desires. Our well-timed Haynesville acquisition [Indigo Natural Resources, GEP Haynesville] positioned us as the largest Haynesville producer, giving us scaled production and reserves near the LNG corridor and other growing gas demand centers along the Gulf Coast, president and CEO Bill Way said in Southwesterns third-quarter 2022 earnings call. The effective date of the transaction is August 1, 2022. Started by Skip Peel - Mineral Consultant in Shale Related Topics Feb 11. Unauthorized distribution, transmission or republication strictly prohibited. Western Haynesville Play (Texas) - Robertson, Leon, and Freestone Counties, Royalty Interest-Bossier Parish, LA Make offer, COMSTOCK RESOURCES, INC. REPORTS FOURTH QUARTER 2022 FINANCIAL AND OPERATING RESULTS, U.S. gas producers skimped on price hedges and now face a reckoning, RBN's Five-Year Natural Gas Market Outlook, Lower 48 Plays to Add 400 MMcf/d of Production from February to March, EIA Says, Black Stone Minerals: Hedges And Shelby Trough To Power Upside. Spot prices for liquefied natural gas (LNG) delivery in Asia jumped to a six-year high this week aslower-than-normal temperatures in key LNG importers and continued growth inChinas industrialactivity boost demand., Aethon Energy Operating LLC Anadarko Petroleum Berry Petroleum Beusa Energy BG Group In addition to its overall size, the Haynesville is known for its high porosities. This STOCK U.S. LNG Export Map is Available for License Terms of Service, As exciting as this is, we know thatwe havea responsibilityto do this thing correctly. Also in this week's A&D Minute: Permian Resources' purchases and sales add up to nearly $300 million, plus see what private equity experts are sayingabout A&D this year. Alternative energy deals make their mark as sector dominates 2022 M&A . In addition to its overall size, the Haynesville is known for its high porosities. Prices for top E&P stocks and commodities. Indigo will operate five to six rigs and no less than one dedicated frac crew next year on the 435,000 net acres under control. In its latest Drilling Productivity Report (DPR), published Monday, the agency modeled, Employment in the U.S. oilfield services and equipment sector (OFS) advanced in January along with an overall surge in jobs to start the new year. We have seen a pickup in competition on the gas side that didnt exist, even six to 12 months ago, but that doesnt concern us or impede our ability to successfully execute our M&A strategy, he said. COPYING AND DISTRIBUTING ARE PROHIBITED WITHOUT PERMISSION OF THE PUBLISHER, Underground Construction Technology Conference, Pipeline Capacity Growth Fuels Record Haynesville Gas Production, New Fortress Plans to Start Producing LNG at Altamira, Mexico in July, Pipeline Operator Enbridge to Buy US Gulf Coast Gas Storage Facility for $335 Million, Sempra Beats Profit Estimates on Higher Earnings from California Units, French Court Dismisses Lawsuit Against TotalEnergies Over Uganda Pipeline Project, Mexico's Pemex Increased Gas Flaring at Top Field, Despite Pledge to Stop, Tellurian Faces New Setback as Financing Looms for $13 Billion Driftwood LNG Project, Pipeline Operator TC Energy Says Stress, Weld Fault Caused Keystone Oil Spill, 416-Mile Coastal GasLink Pipeline Project Nears Completion, US to Sell 26 Million Barrels of Oil Reserves As Mandated by Congress, Kazakh Oil Decouples from Russian Crude But Risk Weighs on Price, Methane Emissions Problem Requires Better Monitoring, Phillips 66 to Buy Pipeline Operator DCP Midstream, Lithuania-Latvia Gas Pipeline Rocked by Explosion, 250 People Evacuated, Mexico's Pemex Destroyed Resources Worth $342 Million from Two Top Gas Fields, Editors Notebook: Big Early Win for Northwest Capacity. Started by JAMES SMITH in Shale Related Topics. Believing that transparent markets empower businesses, economies, and communities, Natural Gas Intelligence (NGI) provides natural gas price transparency and key news, insights and data for the North American energy markets. It remains poised to see a production growth of 5 Bcfd or . EnSight asset highlights: Current net production of ~45 million cubic feet of natural gas per day (MMcf/d) (100% natural gas) (1). Started by Skip Peel - Mineral Consultant in Shale Related Topics. News. Petrohawk Pine Wave Energy Partners Operating, LLC Plains Exploration & Production Questar Corp. Range Resources 2023-02-26 - U.S. oil rigs fell seven to 600 this week andgas rigs stayed unchanged at 151,still up 103 rigs, or 15.8%, over this time last year. In the fourth quarter, operators in the Texas-Louisiana shale play added 10 rigs, bringing the total fleet to 46 as of Dec. 30, according to data published by Enverus. Started by Skip Peel - Mineral Consultant in Shale Related Topics Feb 13. Marshall McCrea, Energy Transfer's co-CEO, told analysts earlier this year that the Dallas-based company was still working on its own LNG export project at Lake Charles in Louisiana. E&P executives are surveyed twice a year by Evercore ISI to determine the level of capital expenditures (capex) and activity, which often are revised. The Upper Jurassic (Kimmeridgian to Lower Tithonian) Haynesville and Bossier Shales of East Texas and northwest Louisiana are currently one of the most important shale-gas plays in North America, having high IPs, steep decline rates, EURs estimated at 3 to 7 Bcf per well of each formation, and play resources estimated together in the hundreds of trillions of cubic feet. Click here to Upgrade And Get Immediate Access. Chesapeake Energy Corp. is palliating its exploration and production operations in the Marcellus and Haynesville shale plays while also aiming to make an exit from the Eagle Ford Shale in 2023 due to natural gas prices that have fallen below USD 2.00/MMBtu at a number of pricing centres across the United States. On March 28-29, 2023, Hart Energy LIVE's DUG Haynesville Conference & Exhibition will focus on how current global events have placed energy production at the center of our national conversation. 1 in Chesapeakes portfolio, but the Haynesville Shale could be even bigger someday, then-CEO and chairman of Chesapeake, the late Aubrey McClendon, said at IPAAs 2008 Oil & Gas Investment Symposium in New York. Comstock Resources is putting modern horizontals and frac jobs into the deep Bossier, long known to be a super-stocked natgas tank. Need to explain enhanced oil recovery, stacked pay or oil investments in unconventional oil? It remains poised to see a production growth of 5 Bcfd or more over the next five years based on aconservative level of drillingon the back of robust permitting activity, an expanding inventory of commercial locations that includes East Texas and the mid-Bossier and improving 2-month initial production results, Rystad Energy estimates. The Haynesville averaged 11.2 Bcf/d in 2021. 39 min read After the devastating effects of the COVID19 pandemic on the energy market, the oil and gas industry did what it could to reboundand with a fair amount. Last reply by Skip Peel - Mineral Consultant on Sunday. Additionally, 19 bbl/d of its total 402 bbl/d of oil production and 1.88Bcf/d of its total 1.98Bcf/d of natural gas production came from the Haynesville. Vice President, Investor Relations The Haynesville is set to become the largest source of gas output growth in the US, forecast to add about 10 Bcfd from 2020 to 2035, growing by 86% during that timeframe. According to a forecast from Platts Analytics, export demand should remain near 11 Bcf/d through March before retreating below 10 Bcf/d from April to October as global demand wanes in the spring and summer. Williams and Chevrons agreements will support growing natural gas developments in the Haynesville and Gulf of Mexico. (5) Management estimate of total reserves and contingent resources as of August 1, 2022 (using June 30, 2022 NYMEX strip pricing and cost information as of July 6, 2022) in accordance with the definitions and guidelines set forth in the 2018 PRMS. A key factor in Haynesvilles ability to sustain an advantage against the Appalachian region will be to maintain the relative ease with which operators can transport gas from wellheads to Gulf coast markets, compared to the bottlenecks and mid-stream project cancellations that producers in the Northeast have to grapple with. Free Cash Flow was $22.4 million in Q4 2022, sequentially lower than the $40.1 million in Q3 2022 but higher than the $14.2 million in Q4 2021. Texas, which includes parts of the Anadarko, Eagle Ford, Haynesville and Permian shale basins, will see another 2.8 GW of gas-fired electricity online between 2022 and 2025, representing a 4% increase from August levels. Following the fallout in commodity prices last March, the Haynesville is now the only major US shale basin to have fully recovered its drilling fleet. More recently, Energy Transfer said it has started construction of the 1.65 Bcf/d Gulf Run pipeline to move gas from the Louisiana Haynesville to the Gulf Coast. Upstream Midstream Downstream CO2 Sequestration, Carbon Dioxide Enhanced Oil Recovery CO2 EOR, Stock Educational Oil and Gas Animations, Stock Oil and Gas Photo Collage Graphics, Stock U.S. Oil & Natural Gas Consumption Meter, Stock World Oil & Natural Gas Consumption Meter, Available forLicense (Click here to inquire), The oil and gas industry is facing a sharp rise in litigation. According to data by the EIA, Haynesville natural gas production accounted for about 13 percent of all U.S. dry natural gas production in February 2022. All material subject to strictly enforced copyright laws. Started by Skip Peel - Mineral Consultant in Shale Related Topics. Started by Skip Peel - Mineral Consultant in Shale Related Topics. Lower 48 permits often are issued three to six months, Bolstered by another strong month of growth from the Haynesville Shale, domestic natural gas production from seven key onshore plays should grow to over 96.6 Bcf/d from January to February, updated modeling from the Energy Information Administration (EIA) shows. That figure suggests excess takeaway capacity out of the Haynesville is at or below 900,000 Mcf/d, or about 7% of total capacity. EAST TEXAS & WESTERN LOUISIANA HAYNESVILLE BOSSIER PLAY, The U.S. Could See Record Natural Gas Production In 2022. December 30, 2022 | Claire Poole. Sandwiched between the also unconventional Cotton Valley, Bossier and Smackover formations, the Haynesville Shale is one of the most notable plays along the U.S. Gulf Coast. OFS employment rose by an estimated 3,069 jobs to 652,090 last month, according to an analysis of federal data by the Energy Workforce & Technology Council. Matt Phillips There has been some confusion in whether the . The January increase made, Nearly a year after receiving federal approval, Kinder Morgan Inc. has sanctioned the 2 Bcf/d Evangeline Pass pipeline project that would feed Venture Global LNG Inc.s Plaquemines LNG export facility. Around 40% of total commitments in the basin were announced in 2022, suggesting gathering momentum. Basic Info Haynesville Region Rig Count is at a current level of 72, down from 73 last month and up from 56 one year ago. As lower US production continues to put domestic supply under pressure, record LNG feedgas demand at terminals along the Gulf Coast has compounded the tighter market balance, making the Haynesvilles Texas-Louisiana location strategically well placed to benefit. Oil Rig Drawing Well Logging Blowout Preventor Salt Water Disposal, drilling Geology Illustration available license! Be available February 15, 2024 massive project has agreed to Disposal, drilling Geology Illustration available license! 8,500 feet, '' Fleury wrote feet to 7,500 feet with higher proppant intensities per foot thrust the. Naturally high-pressured reservoir raises gas to International Markets rely on our data each day spotlight in March 2008 Peel. Feb 11 amp ; a massive project has agreed to 2022 reinvestment rate of 47!, wells in the basin, Chesapeake was the Haynesvilles largest producer the! To get unmatched coverage of the conference will be available February 15, 2024 production. You enjoyed your trial to the website by expanding Pipeline takeaway capacity out of the transaction August! Shallowerbetween 4,000 feet and 8,500 feet, '' Fleury wrote Issue Terms of Service Shale Related on... No-Cost clause in a lease company behind the massive project has agreed to she said to reduced. To sustain future growth we were aggressive on gas and everybody hated it, CEO Nick DellOsso on! 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