Yes- it seems that they abandoned 1 horizontal well in the Brazos section. From what I understand they plan to end up with a total of 20 (9 new ones, 11 workovers) wells so I am unsure as to why the stock would be down over 10%.
My guess is that it might settle around $17 before x-div.....Was in at $18 and closd it out about 2 weeks ago for $18.79.......for the past two weeks I felt like kicking myself in the butt but it turned about to be a lucky move had a few $15 naked puts which I sold for 75 cents about 2 months ago for April and unloaded those for 45 cents yesterday also.....Put those moneys to work in NCT and very satisfied with results there.
Bought 3,000 shares, this is a good stock. Good business model, good dividends, this stock is down because dividends are 23% lower than last quarter and probably someone has a lot of shares and is looking for some liquidity. Hold on!