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Saratoga Resources Inc. Message Board

baby_face_finster 7 posts  |  Last Activity: Oct 22, 2014 9:09 AM Member since: Aug 8, 1999
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  • Reply to

    Highlander, DJ2 and Lomond

    by marionrobertsonm Oct 21, 2014 9:28 AM
    baby_face_finster baby_face_finster Oct 22, 2014 9:09 AM Flag

    Cont.
    I don't have much confidence they will be successful at SS188. I believe they will take the Joe Douglas rig and move it to BBE for a completion attempt there afterwards.

    Lineham Creek - Operated by CVX and has been said to be targeted for a mid 2015 completion attempt.

    Farthest West Gate - Lineham Creek look-alike operated by FCX has been spud and is drilling with a proposed TD of 24,000'

  • Reply to

    Highlander, DJ2 and Lomond

    by marionrobertsonm Oct 21, 2014 9:28 AM
    baby_face_finster baby_face_finster Oct 22, 2014 9:07 AM Flag

    Here is a summary of what I know of UD (now ILT) the wells in progress (in the order of what I think we will have completion information on next):
    DJ2 - Crete/Tusc completion & test flowed pretty nicely, peaking at around 2,500 bbls/day. Unfortunately, it was water and only trace amounts of gas. It showed that the crete/tusc had the fracturing and permeability that they were hoping for, but did not have a good enough trap/seal to collect hydrocarbons. They have moved the EXL III back on and are in the middle of completing the Wilcox zones above. The latest BOEM reports are showing that they are getting pretty far along and, barring any unforseen problems (which we have seen in these type of wells previously), they may be about a week or two away from testing.
    Higlander (Lamond North) - originally were to have tested by early Oct., but seems they have some equipment issues causing a delay. The SONRIS report still shows the perforations "work performed" as No. Not sure the nature of the equipment issues. Guessing that the testing will be a mid to late November event. Looking forward to this test as Flores was extremely excited about the quality of the logs & cores they took. They have permitted an offset well about 1,000' updip to the east of this first well. The permit is to 32,000' and they would be looking (if Highlander 1 is successful) to test lower tusc sections that they were not able to reach at Highlander 1.
    SS188 - Not looking good. I'm pretty sure EXXI backed out of their WI for the completion (show of no/low confidence). They completed and tried to test the lower laminated sand sections, but it does not look like it was successful. The latest change permit on BOEM has it as temporarily abandoned to change zones for another completion attempt. I'm guessing they will give it one more try to complete/test the "coffee grind" zone that was just under the salt. They are just looking to get some production to be able to hold the lease unit.

  • baby_face_finster by baby_face_finster Oct 15, 2014 3:35 PM Flag

    States that the well has been temporarily abandoned. However, the permit type is "completion" and it also has "complete new zone". So, it could be that the bottom zones (laminated sands) did not work out and they will look to try and complete the upper zone next (referred to as "coffee grind zone" by Jim Bob).

  • Reply to

    Is SONRIS well # 248553

    by bcfbubba Oct 11, 2014 7:18 AM
    baby_face_finster baby_face_finster Oct 11, 2014 1:32 PM Flag

    Take a look at FCX's presentation in early September, slide 25. They show an analog to a Judge Digby field log. Judge Digby is a tusc/cretaceous field about 50 miles north of of Highlander. If the analog is correct, they were less than halfway through the potential pay zone when they stopped at Highlander 1. With Highlander 2 about 1,000 up dip, starting with a 40" hole (if the rumor is correct), and permitted down to 32,000' means they are gearing up to drill the whole potential zone for what they think could be a monster well. JMO of course.

  • Reply to

    Is SONRIS well # 248553

    by bcfbubba Oct 11, 2014 7:18 AM
    baby_face_finster baby_face_finster Oct 11, 2014 11:58 AM Flag

    Yes. Offset well permitted to 32,000'. Read in a post that they are using 40" surface casing (FWIW). The well is about 2 miles east of Highlander 1 (and slightly north). From FCX's latest presentation, Highlander 2 will be about 1,000' up dip on the structure from Highlander 1.

  • Reply to

    Oil Glut

    by play_tow Sep 25, 2014 7:50 PM
    baby_face_finster baby_face_finster Sep 26, 2014 7:40 AM Flag

    Actually, they price on LLS (which seems to follow more closely to Brent than WTI).

    Not sure where play_tow gets the $90/bbl break even figure, but I believe that is totally incorrect. They may be cash flow neutral around $90/bbl, but that is totally different from P/L.

  • Reply to

    this stock is extreeeemly cheap

    by rajoilprasad Aug 13, 2014 6:45 PM
    baby_face_finster baby_face_finster Aug 14, 2014 11:20 AM Flag

    I believe the reason SFY is not liked by the street currently (i.e. undervalued) is the combination of current liquidity/debt combined with it primarily having Natural Gas reserves. NG has been trending lower this summer due to large builds closing the gap on inventory deficeits. If NG pricing turns around and can be sustained in the high 4's to mid 5's, the stock price should do well.

SARA
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