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  • rrb1981 rrb1981 Nov 21, 2010 6:42 PM Flag

    Distressed Assets

    I was talking about just the Marcellus acreage. No one would want the high lifting cost coal bed methane properties in the Cherokee Basin or the Black Warrior Basin. Duhhh.....

    I wouldn't be shocked if PSTR sells the acreage for less than $3000/acre. Remember, this is W. Virginia, not SW Pennsylvania. The thickness is different and there aren't really many long lived horizontal wells with which to build a composite decline curve and production profile.

    We shall see....

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