Question-and-Answer Session
Thank you sir. [Operator Instructions] Our first question comes from Subash Chandra with Jefferies.
Subash Chandra - Jefferies
Hey, good morning guys. For your budget for next year is there a well count number, either gross net or preferably both?
Robert C. Turnham, Jr. - President and Chief Operating Officer
Yes. Subash, this is Rob. We’re estimating 76 wells to be drilled next year and then I believe in my remarks I gave kind of percentages of where those wells would be. So that would be gross number of wells.
Subash Chandra - Jefferies
Okay. So obviously a bit more expensive wells, a fewer number but higher reserve potential?
Robert C. Turnham, Jr. - President and Chief Operating Officer
Yes. Exactly and then higher production rates obviously.
Subash Chandra - Jefferies
Right.
Robert C. Turnham, Jr. - President and Chief Operating Officer
So I think part of my comments that 60% in the Haynesville Shale, 50% of that being with the Chesapeake joint venture, which obviously is a net 30% of the total. So if you want to elaborate on that just give me a call.
Subash Chandra - Jefferies
Sure.
Robert C. Turnham, Jr. - President and Chief Operating Officer
I’ll try to give you a more accurate net number.
Subash Chandra - Jefferies
Sure. And then late this summer or early this autumn we talked about some of the sort of pending infrastructure projects out of the Haynesville stuff that was sort of making its way through open season and so on. What’s an update as far, as you know on, those projects and if you can sort of give us an idea of what is coming up near term versus long term or what might have been canceled or delayed?
Robert C. Turnham, Jr. - President and Chief Operating Officer
Yes Subash. We’re observing just like you are obviously regency has an expansion of their North Louisiana system, we understand a pretty good incremental daily volume set to be on line kind of mid-’09 momentum. Our M2 has sold their interest in the Haynesville connector to DCP, which I believe they’re in the process of firming up their plans to add capacity also. But as far as we know both of those systems are on pace and being developed and on time table of adding additional capacity I think first phase by middle of ?09, and then additional volumes by the end of that year.
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