Only smoke by the shorts wanting it to go to 0 on no factual basis.MMR can hold the flow or no flow results until they are ready to release it.Whining accomplishes nothing.Fantasizing about where the progress is only deludes anyone reading it.The facts will come out and the fairy tales will go up in smoke.
wasn't this supposed to be a ultra deep play, if they can not perforate the deep what does perforating higher up prove, nothing. This was all done to prove that there is petro when you go way down; the shalower depths have already been depleted and won't be of any value even if you do get some flow. This sucks
You realize that the D and C sands are over 5 miles deep and only a couple hundred feet shallower than the F's? All of the Wilcox is ultra deep - ALL OF IT. This way they get the well flowing before the end of the quarter and prove the concept. Then move on to the DJ2 that is something like 50 times as large a hole (diameter of the top) to start with.
DJ1 was always a over-sized test hole with DJ2 being the true production workhorse.
I'm not happy with the news, but neither am I completely disappointed. Still a bit of editing to do on that new book about the SWUD that's being written.
"if they can not perforate the deep what does perforating higher up prove, nothing. This was all done to prove that there is petro when you go way down; the shalower depths have already been depleted and won't be of any value even if you do get some flow."
Are you being serious?
At any commercial rate? For a well of this cost I doubt there is any rate at the current price of gas that makes this well "commercial". At best it is a science project that MAY lead to future success elsewhere.
I am not sure that this bodes badly for the future. We are on a steep learning curve here and the other wells, unlike DJ1, were designed to go to their TDs and were engineered for far larger flow rates. Plus, the increased bore diameter (increased working space) makes for far easier completions.
I repeat: if DJ1 flows at ANY commercial rate then we are off to the races---- IMHO this is why JB said 'COMPLETE THE WELL ASAP' when he heard of the mechanical issues of the F sand.
Nice one IAM.
With the broader market action today one can only imagine where MMR and EXXI would have closed had the news been favorable. Very disappointing to see this mess continue, and it has to say something about future news down the road on the other UD wells as we get closer to completing them.
In my view, JB's letter was a give away.
BF I have tried to hold out a torch to you via CC. I would be glad to talk to you off board. Trading is all about the odds and never about ego; you cant win every time you trade---it is almost like star wars ---feel the force!!!
I get the impression that the F sand will be left for DJ2---short term bummer but long term no change.
D sand not flowing enough to fill the pipe so they are trying to go for the C sand
The question is WHAT FLOW ARE THEY GOING FOR???
If I know JB he wants the big one and to flow at capacity.
In Three weeks we might find that we are in production and flowing at >50mmmcf per day---and that would be cool.
So what have we learned?
Rumours and half-truths prevail---Dishonesty and insider trading rule the day, like they always do---info WAS leaked---the market WAS right---and the honest man losses, as he always does.
Reading the tape is the same as having inside info---just a little bit delayed!!!
Humans are too weak.
In The Devil I Trust.