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Abraxas Petroleum Corp. Message Board

  • bogwa1406 bogwa1406 Jun 6, 2014 6:48 PM Flag

    Just look at the numbers...1qtr was 4200, high est for 2nd qtr is 4750...lets assume 3rd qtr is 6,000 and 4th qtr is 7,000 boepd.

    Add the 4 qtrs and divide by 4 and you get 5487 boepd..which is still under the low side of guidance just issued. I don't see Bob breaking trend by over-promising when they already had guidance issued. So basically by 3rd qtr they'll be doing at least 6,000 boepd 4200/ 6000 = a 47% increase over 1st qtr results and by 4th qtr they have to be at 7,000 boepd which equals a 66 % increase over 1st qtr. So can anyone else see how they can't have to hit roughly 5,000, 6,000, 7,000 boepd sequentially in order to be in the guidance range just issued ? That's why this stock is a hold and accumulate on any pullbacks. JMHO GLTA
    PS..keep in mind they know they have had shut ins...so there is some high production flow figured in to make the current guidance.

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    • Orion Drilling Co.'s Perseus rig prepares to drill for hydrocarbons in the Eagle Ford Shale. Output from the South Texas formation is likely to reach 2 million barrels per day, according to a new Wood Mackenzie analysis. Photo: Eddie Seal/Bloomberg
      Crude oil and condensate output from South Texas’ Eagle Ford Shale is expected to double to 2 million barrels per day by 2020, according to energy consulting firm Wood Mackenzie.
      That means output from the oil-and-gas formation south of San Antonio would widen its lead over North Dakota’s thriving Bakken formation, which once boasted higher production levels. The Eagle Ford beat the Bakken to the 1 million barrel per day milestone in October, according to U.S. Energy Information Administration data.
      “These figures are unparalleled in terms of liquids production growth across the Lower 48, with Eagle Ford expected to produce 16 percent more crude and condensate than the Bakken and Three Forks during the same year combined,” Wood Mackenzie wrote in an update on its website.
      The company’s analysis also breaks down expected production across the 24-county Eagle Ford into nine distinct regions. The Karnes Trough, Edwards Condensate and Hawkville Condensate sub-plays — all located at the core of the formation and nearer to San Antonio than the U.S.-Mexico border — are likely to account for 70 percent of 2020 production.
      EOG Resources (NYSE: EOG) is currently the most valuable Eagle Ford operator, with its “massive position” in the play valued at $22 billion, according to Wood Mackenzie. ConocoPhillips and BHP Billiton are the second and third largest net producers.
      The expected South Texas production increases don’t just mean economic growth in South Texas but also in San Antonio, which has seen its number of oil-and-gas related jobs more than double since 2009, according to new state and federal employment data.

      Sentiment: Strong Buy

 
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