Don, this is out from SM. Know you are skeptical of ZAZA, but it seems this is a real play, SM is a very well managed co. ZAZA is partnering with EOG and RRC, can't get much better than that.
With the move down in oil, any small co bet seems not a good play short term. What's going on with gold.
SM Energy Company (SM) announces today the successful completion of an exploratory test well in San Jacinto County, Texas. The Horizon Properties 2H (SM 100% WI), a horizontal completion in the Woodbine interval, produced approximately 740 BOE/d in a 24-hour test, flowing at 1,520 PSIG casing pressure on a 27/64ths inch choke, while cleaning up after fracture stimulation. Production consisted of 305 Bbl/d of 42 degree API gravity oil and 2,600 MCFD of rich gas (approximately 1250 BTU/scf). The well will be shut-in to
await construction of a gathering system.
Don, you talked me out of it, they do seem to be just promoters, will be interesting to see how the play develops, you have some big names in it EOG, ECA, RRC, HK. Also, I traded SD for more MPO. Will see how that works out, I'm not a very good trader though.
Birdog, saw on CNBC, Schiller is on Cramer tonight. Should be interesting to see what he has to say, a good guy.
I hope Schiller has something to say to stop the fall in the stock price. $23 a share, gee wiz. Let em know what he says as I don't watch CNBC and sure as hell don't watch Cramer.
I'm watching ECA for a entry point. The boys on IV claim the 4% dividend is safe. Might be a good place to park some money to see if gas does continue upward. They are putting some rigs back to work in the Haynesville and claim they are profitable at this price. I bet they aren't including their sunk costs in land in this claim.
I had some SWN but l had some March $36 options sold against it and decided to let it get called. I get the feeling that their Brown Dense well are so expensive that they might not be economic. I am not as confident as you that oil will settle around $90. I am afraid we are heading toward $80. All the commodities including the grains and meats were slaughtered today. No pun intended. Even my feeder calves lost value today. Oh well, maybe tomorrow will be better.
Another plug for Casesarstone, CSTE, I bought some more Friday, better price today. The secondary is out of the way, just existing shareholders selling, don't think it means anything. Selling for 11x forecasted '14 earnings for co that should grow double digits, great product, no debt, been in business for 20+ years, building US plant. Big market for their product, low penetration. And it's not energy.