Object Reservoir Inc. announced that additional operators have recently joined the company’s Collaborative Exploitation Project (CEP) for the Haynesville shale. Also, the company has announced the formation of a second CEP for the Marcellus shale. Project activity in the Marcellus CEP is expected to commence on or before September 15^th. Details of the project are available from the company for Marcellus operators and working interest partners.

The objectives of these CEPs are to jump-start best practices for well stimulation, completion, and spacing, and to accelerate the learning curve for optimal exploitation and monetization of operators’ shale assets.

The Haynesville shale CEP formally commenced on April 1^st. Early participants were BP America, Comstock Resources, EXCO Resources, Forest Oil, Petrohawk Energy, and several other prominent unnamed Haynesville operators. New participants joining the project include Anadarko, EnCana, Penn Virginia, Questar, and Samson for a current total of twelve. Depending on logistical and operational constraints a few additional participants may be admitted to the CEP. To date the holdings of participants comprise approximately 2/3 of the known leased acreage in the Haynesville.

Additionally, in partnership with leading reserves determination firm DeGolyer and MacNaughton, Object Reservoir’s efforts in these CEPs are intended to lead to practical prescriptions for “turning resources into reserves.” This is especially important in light of the recently modernized SEC rules which permit the use of “reliable technology” to estimate proved reserves. In addition, broad consensus regarding the best methodologies and technologies to be used for estimating shale gas reserves will be helpful to both operators and capital markets.