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BREAKING 6-4-08 Don Briggs: "Energy Independence Won't Work" - Americans Addicted to Oil
Wednesday, Jun 04, 2008 11:33pm
SHREVEPORT, LA  (By: Tom Pace, Executive Editor, Talk of the Town) BREAKING: OIL & GAS NEWS  3pm 6-4-08  Don't tell Don Briggs about "Energy Independence for the U.S." - he says "...it won't work, because Americans are addicted to oil."  

Click here to listen as Briggs,  President of  the Louisiana Oil and Gas Association, spoke with Tom Pace on a variety of energy subjects, including the recent major Haynesville Shale gas find in NW Louisiana. 

Briggs was in Shreveport, Louisiana last night, giving a speech to a large crowd of about 100 at Super Steakhouse, for their monthly "Winning Tuesday" meeting.  He gave the audience a quick tutorial about why we (America) need to drill more wells, especially where major oil and gas reserves are located.  

Regarding America's dependence on foreign oil, Briggs said, in the grand scheme of things gobally, we lag far behing the major oil producing countries of Iran, Russia and Venezuela. 

In discussing the recent Haynesville Shale gas find, Briggs said unlike the Barnett Shale wells in Forth Worth that are relatively shallow gas wells, the Haynesville wells are nearly 12,000 feet deep, costing some $7 million each to drill and complete. 

Answering the #1 question on landowners minds: who to lease your land, and for how much...Briggs simply said: "Know the drilling company you're dealing with (are they reputable)...and remember, it's not necessarily how much you're paid lease to your land, but, how long will you get the royalty checks. 

Briggs estimates this play of gas (The Haynesville Shale) could last as long as 10 to 15 years...which represents long-term income for many folks.

*Editor's Note: There are no guarantees in the oil & gas business as to length of time and/or production amounts...which can vary from well-to-well.  Landowners should be aware this remains a speculative business. TP

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