EnerVest invested over one billion dollars in grandpa Barnett Shale

When an Arlington man asks for a million bucks for his permission to live within 600 feet in expanding an existing drill site…

Screen shot 2014-12-02 at 11.20.45 PM

…and you hear that he exclaims they (EnerVest) have billions of dollars with no debt…you kinda want to check these things out.


So here is a little EnerVest acquisition history of our (mature) Barnett Shale properties…

Denbury Resources Inc. reported to be selling 60% of it’s Barnett Shale assets by June of 2009 for $270 million to Talon Oil & Gas LLC. And on 12/1/09, Denbury sold the remaining 40% of their working interest in Barnett shale properties to Talon for $210 million.

In February of 2011 ogfa.com reported that Talon would be selling its Barnett Shale oil & gas assets to EnerVest Ltd. for $967 million. 

“The majority of the 20,207 held-by-production gross acres acquired from Talon are considered Core to the play with 212 active wells producing 87 million cubic feet per day of gas equivalent from 1.1 trillion cubic feet of gas equivalent in reserves. *Production is 29% natural gas liquids and 71% natural gas with a reserves-to-production ratio of 33 years.”

Do the math….Talon sold Grandpa Barnett to EnerVest and made off with almost $500 million in profit…in two years time.

I suspect that EnerVest may have overpaid for these Barnett Shale assets which peaked the same year that they bought the assets in 2011.

But they weren’t done just yetEnerVest then acquired the Carrizo Barnett Shale assets in southeast Tarrant county for $236 million……in late 2013…two years after the bust.

EnerVest has invested (967 million + 236 million) literally $1.2 billion dollars in acquiring the grandpa of shales…why does this scare me?  The older the well/padsite, the more costly they are to maintain….and keep safe….in our neighborhoods….at UTArlington where my son is to start college next year.

To make things more worrisome, a report confirms that Benzene is not safe even at low levels.

Last summer the air monitor near the EnerVest UTArlington site captured Benzene at 3.3 ppb on August 3, 2014.

*I thought we had “DRY” gas – I understand the wetter the gas, the more Benzene it has…but actually NO amount of Benzene is safe…and when even the “dry” gas arrives at the compressor stations here in our dry gas Barnett Shale, it has to be dehydrated….

What was the higher Benzene reading today, 12/9/14? (long term ESL is 1.41 ppb)…..

6 pm it was .9 ppb then by

7pm it was 1.38 ppb and at

8 pm it was 1.16 ppb

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About Kim Triolo Feil

Since TX Statute 253.005 forbids drilling in heavily settled municipalities, I unsuccessfully ran for City Council Seat to try to enforce this. Since Urban Drilling, our drinking water has almost tripled for TTHM's. Before moving to Arlington in 1990, I lived in Norco’s “cancer alley”, a refinery town. It was only after Urban Drilling in Arlington did I start having health effects. After our drill site was established closest to my home, the chronic nosebleeds started. I know there are more canaries here in Arlington having reactions to our industrialized airshed (we have 55-60 padsites of gas wells). Come forward and report to me those having health issues especially if you live to the north/northwest of a drill site so I can map your health effects on this blog. My youtube account is KimFeilGood. FAIR USE NOTICE: THIS SITE MAY CONTAIN COPYRIGHTED MATERIAL THE USE OF WHICH HAS NOT ALWAYS BEEN SPECIFICALLY AUTHORIZED BY THE COPYRIGHT OWNER. MATERIAL FROM DIVERSE AND SOMETIMES TEMPORARY SOURCES IS BEING MADE AVAILABLE IN A PERMANENT UNIFIED MANNER, AS PART OF AN EFFORT TO ADVANCE UNDERSTANDING OF THE SOCIAL JUSTICE ISSUES ASSOCIATED WITH EMINENT DOMAIN AND THE PRIVATIZATION OF PUBLIC INFRASTRUCTURE (AMONG OTHER THINGS). IT IS BELIEVED THAT THIS IS A 'FAIR USE' OF THE INFORMATION AS ALLOWED UNDER SECTION 107 OF THE US COPYRIGHT LAW. IN ACCORDANCE WITH TITLE 17 USC SECTION 107, THE SITE IS MAINTAINED WITHOUT PROFIT FOR THOSE WHO ACCESS IT FOR RESEARCH AND EDUCATIONAL PURPOSES. FOR MORE INFORMATION, SEE: HTTP://WWW.LAW.CORNELL.EDU/ TO USE MATERIAL REPRODUCED ON THIS SITE FOR PURPOSES THAT GO BEYOND 'FAIR USE', PERMISSION IS REQUIRED FROM THE COPYRIGHT OWNER INDICATED WITH A NAME AND INTERNET LINK AT THE END OF EACH ITEM. (NOTE: THE TEXT OF THIS NOTICE WAS ALSO LIFTED FROM CORRIDORNEWS.BLOGSPOT.COM)
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