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Saratoga Resources Inc. Message Board

  • baby_face_finster baby_face_finster Jul 15, 2013 12:04 PM Flag

    Ops Update

    I got what I wished for - a detailed updat on the production enhancement (PEP) program from SARA this morning. All in all, the update was neutral, IMO.

    Did 6 PEP tubing replacements to date - 5 were successful. The 5 successful tubing replacements are yielding 92 gross bbl/day. This is below the 20 - 50 bbl/day original estimate. Although, they state that they are looking at additional stim ops (chemical/acid treatment of existing perfs, adding new perfs) to bring that up. Also, slightly under cost estimates per well so far. Payout of 6 done to date (including the unsuccessful well) is estimated at 8.9 months - closer to my mistaken estimate before.

    CEO in remarks seems to be alerting investors that the 2nd Qtr will not be a good one production wise.

    All IMO. Any thoughts?

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SARA
1.63-0.01(-0.61%)Aug 1 4:01 PMEDT

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