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.
The main pass upgrade is likely to be far more financially significant than the tubing replacement. I wish they would have provided numbers on that one. That was a major field and production was curtailed due to third party issues.