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Saratoga Resources, Inc. Common Message Board

  • baby_face_finster baby_face_finster Sep 11, 2013 10:01 AM Flag

    Zeke Test

    The Zeke well tested on September 10, 2013 at a gross rate of approximately 312 barrels of oil per day and 89 thousand cubic feet of gas per day on a 38/64” choke with flowing tubing pressure of 480 psi, or net 268 barrels of oil equivalent per day.

    About what I was thinking. Should be about 750 bble/day net between Rocky and Zeke. That would put current production right around the 3,000 bble/day mark. I'm hoping for 3,100 bble/day avg in the 4th qtr - barring no disruptions. GLTA

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    • Glad I am out. You saw the market reaction to Zeke today. Stock got CLOBBERED

      Yes this is not a great well they had been hoping for. Problems look to be just around the corner.

      Company lucky to be trading above $2 a share at this point

    • Baby Face, is it possible that you are being a bit conservative on the production estimates, both on a current basis, and what is expected for the fourth quarter. After looking through the second quarter report, it appears as though they produced 2500 boepd, with Main Pass issues causing a loss of 150 boepd, Grand Bay gas lift issues causing a loss of over 500 boepd. With Main Pass back online (150 boepd), Zeke and Rocky drilled and producing (750 boepd) and some additional oil production due to the PEP program, wouldn't you expect to see current production well north of 3000 boepd? Shouldn't it be closer to 3,300 - 3,500 boepd currently? And if they have resolved the Grand Bay gas lift issues, couldn't one expect more?

      Thanks for the great contributions to the board.

      Sentiment: Strong Buy

    • nkgnews Sep 11, 2013 12:49 PM Flag

      Baby Face, thanks for the does that compare to analysts projections?

      • 1 Reply to nkgnews
      • Not sure if they analysts have projections for these individual wells. From the conference calls I listened to, they stated that they felt Zeke would have a lower production rate than Rocky given the limited horizontal section in Zeke compared to Rocky.

        I think the wells came in as expected. Now the question is, will they hold up and produce like this for quite some time? We should get some hints when SONRIS starts reporting monthly production (there is a lag of a couple of months before reporting monthly production numbers).

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