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Constellation Energy Partners, Ltd. Şti. Message Board

  • rrb1981 rrb1981 May 7, 2011 11:41 AM Flag

    Another boring conference call

    Same song, second verse.

    Production declined, they used nearly all cash generated to pay down debt.

    These guys need to be putting cash to work in oil and liquids rich properties. The company is continuing to whither away. Look at historical production.

    Quarterly Production:

    Q1 '11: 38,000 mcfe/d
    Q4 '10: 39,935 mcfe/d
    Q3 '10: 40,848 mcfe/d
    Q2 '10: 41,154 mcfe/d
    Q1 '10: 42,889 mcfe/d
    Q4 '09: 43,924 mcfe/d
    Q3 '09: 47,978 mcfe/d
    Q2 '09: 46,615 mcfe/d
    Q1 '09: 48,489 mcfe/d
    Q4 '08: 48,283 mcfe/d
    Q3 '08: 48,663 mcfe/d
    Q2 '08: 48,593 mcfe/d

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    • I thought at least one change was that they said they might increase their capital budget due to success with organic oil drilling.

      In addition, at least they are predicting only a 8% drop in 2011 production (37.8) versus the 12% drop in 2010 (41.2 vs 46.75 in 09).

      From slide 4:

      Total capital forecast of between $10 million and $12 million
      – Initial progress on drilling organic oil opportunities leads us to believe we will finish the year
      at the higher end of this range
      – Continued success with oil may lead us to seek an increase in our capital budget this year