Louisiana set for a race between gas producers to extend acreage and expand production
Dash for gas in the Haynesville
Bullish output projections and snowballing consolidation illustrate scramble to gain a foothold in the basin
Louisiana may be set for some of its most thrilling pursuits since a speedboat piloted by Roger Moore’s incarnation of James Bond memorably confounded both his villainous pursuers and Sheriff JW Pepper through its bayous in 1973’s Live and Let Die. US gas producers with deep pockets are rapidly shifting capital to extend acreage and expand production in the Haynesville dry gas basin. Houston-based Tellurian is shelling out $125mn to source feedstock for its Driftwood LNG project, while BP says it could reallocate c.$0.5bn to the basin. Despite only recently emerging from bankruptcy, US independent Chesapeake Energy is also increasing its exposure. “[The] Eagle Ford has become non-core to our
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