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Midstates Petroleum Company, Inc. Message Board

  • harehau harehau Oct 9, 2013 9:46 AM Flag

    woodford potential

    Don't believe the Woodford is factored into MPO's potential. Could double the Miss potential with more consistency in the well results, which the market values highly. SD is talking the same result. Both could help MPO's potential without their having to spend any exploration dollars. Maybe selling the Wilcox makes sense with the mid continent potential.

    Management is upbeat about a new light oil play below the Mississippian. DVN has completed 29 wells in
    the Woodford Oil Shale, including 10 wells Q2 wells with an average IP of 840 Boe/d and 30-day IP of
    500+Boe/d. Unlike the Mississippian, the Woodford shares similarities with a resources play in terms of drillability and ability to drive more consistent results. It’s still early days, but DVN believes the type curve is similar to its original Mississippi Lime type curve of 350 MBoe at a $3 MM cost per well. The company has -
    400 Boe/d. DVN has added 60,000 acres to its leasehold and believes it has de-risked100,000 of its 400,000 acre position,or 1,000 risked undrilled locations.

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    • Another data point to consider, don't think I've heard anything about this. Swift is shopping its Wilcox acreage, smaller asset, but could be a good comp for MPO's asset. They mention that for So Bearhead Creek, the acreage is prospective for the Tuscaloosa Marine Shale also.

    • Don't get discouraged. This move has not been stock specific. The whole sector moved and everything with it till it didn't, then the mo money jumped ship.

      Now the sector has lost steam. So a stock that has already run a negative or correction cycle will be held back until the sector pressure is off.

      The point is that it isn't quality of asset driven as much as it is debt and news dependent. And mo of coarse. Those that print news will win. Those that won't .....................................

      Sentiment: Buy

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