Natural Gas prices have been on a downward trend since peaking in mid-2008 but producers in Louisiana continue to drill. Sources report 2388 permits have been issued for operations there and all but 340 have been put to use. Five major players are at work in the Haynesville, Louisiana, shale wells with Anadarko Petroleum (APC) operating six wells posting second quarter sales volume averaging 158 million cubic feet of Natural Gas per day.
Exploration continues alongside limited production even as prices continue on the downward trend. APC and the others including Exxon Mobil, BHP Billiton, Chesapeake Energy and EXCO Resources are all producing at modest levels. Keeping the fields up and running, even through a down market, will see the companies poised to ramp production back up once the market rebounds.