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Saratoga Resources Inc. Message Board

baby_face_finster 16 posts  |  Last Activity: Aug 14, 2014 11:20 AM Member since: Aug 8, 1999
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  • Reply to

    Test Flow Rumors at DJ2

    by oilslicker52 May 27, 2014 4:32 PM
    baby_face_finster baby_face_finster May 30, 2014 8:02 AM Flag

    Not sure of the SI board, but cnrlong has been gracious enough to share the BOEMRE reports on DJ2 activity on the Investors Village MMR board. Basically:
    1) Back in late February, they perf'd a little over 300' of the lowest carbonate section. Then, they set an isolation packer just above the perf'd section.
    2) Since then, they have been cleaning out the well bore above the isolation packer and installing all the safety valve, prod tubing, hardware, etc. The most recent report available seems to show that just about everything is in place and they could be drilling through the isolation packer shortly to start the flow.
    3) No big problems such as pressure control, well flowing back, etc. (that haunted the DJ1 well) were in the reports.

    Although these items don't ensure a successful flow, it does provide some relief that the operations to date have looked to be going well.

  • baby_face_finster by baby_face_finster Jun 4, 2014 4:26 PM Flag

    Permit for completting BBW#2 has shown up on the BOEM site. Looks like they plan on using the Rowan Joe Douglas rig (thanks to cnrlong for posting permit on IV board).

    probably why the shares finally caught a little bid today.

  • Reply to

    Test Flow Rumors at DJ2

    by oilslicker52 May 27, 2014 4:32 PM
    baby_face_finster baby_face_finster May 31, 2014 10:59 AM Flag

    crysball2 - can you supply the link? I've checked the BOEM site's well reports and the latest available is the 5/10 report which doesn't show any H2S/T&A information:
    http://www.data.boem.gov/homepg/data_center/well/war/master.asp

    DJ2 API well number is 177074090900.

  • Reply to

    Test Flow Rumors at DJ2

    by oilslicker52 May 27, 2014 4:32 PM
    baby_face_finster baby_face_finster Jun 1, 2014 5:17 PM Flag

    Slick - just wondering...could they have tested and this T&A is to move off the EXLIII rig and do the final plumbing to the DJ production facilities? Hope they put out something Monday before the open (bad or good) so we are all in the know. Thanks for the info.

    BTW - posted on the MMR IV board; FCX picked up the Joe Douglas (higher spec rig than the EXLIII) as per the latest Rowan report.

  • Reply to

    Rocky 3 Completion Issues

    by pulsewrighter May 24, 2014 6:42 PM
    baby_face_finster baby_face_finster May 27, 2014 4:29 PM Flag

    It does not look like any problems have happened so far - here are the latest two scouting reports (last one came out today - waiting on completion rig):
    05/27/2014 06 7178 ND BOPS; NU PROD TREE; R/R 5/20/14; WOCR
    05/19/2014 05 7178 CHANGED UPPER & LOWER RAMS T/ 2-7/8 X 5" VARIABLE BORE RAMS; TSTD BOPS 5/13/14; TIH W/ DIR TOOLS, TAG CMT @ 6341'; TSTD CSG; DRLD T/ 7178'; RUNNING 2-7/8 PROD TBG, GLMS, & SCSSV

  • Reply to

    UPDATE SHOWED 14 BARRELS / DAY?????

    by slimjim2005007 Jun 18, 2014 5:45 PM
    baby_face_finster baby_face_finster Jun 18, 2014 11:10 PM Flag

    Yes - they re-completed a shallower sand that was mostly gas. They have suffered by the lack of gas lift in their fields so this will probably help on that front.

  • Reply to

    DJ2 has been Temporarily Abandoned

    by classicclips Jun 3, 2014 12:34 PM
    baby_face_finster baby_face_finster Jun 3, 2014 4:40 PM Flag

    Agree. H2S presence was in a number of BOEM reports on DJ2 prior to the most resent T&A modification report. They have attached H2S plans to those reports and specified in the T&A modification that the H2S plans filed previously still apply. So, the T&A was not due to high levels of H2S, IMO.

    Hard to tell the details of the T&A - unfortunately the attachments are not available yet on the BOEM site.

  • Reply to

    Test Flow Rumors at DJ2

    by oilslicker52 May 27, 2014 4:32 PM
    baby_face_finster baby_face_finster May 31, 2014 11:28 AM Flag

    Found it - thanks for the info! Unfortunately, I cannot open the attachments to the report - can you?
    As to H2S, they mentioned a few years ago that there was H2S content, but didn't think it was too high that it could not be processed on the DJ processing facilities.

    I would think we should hear soon as to what this all means. I believe EXXI may have a presentation next week.

  • Reply to

    Test Flow Rumors at DJ2

    by oilslicker52 May 27, 2014 4:32 PM
    baby_face_finster baby_face_finster May 31, 2014 11:29 AM Flag

    One more question - what was the sale of the "EFS" assets?

  • Reply to

    Rocky 3 Completion Issues

    by pulsewrighter May 24, 2014 6:42 PM
    baby_face_finster baby_face_finster May 29, 2014 7:34 PM Flag

    I believe you would need to factor in debt per flowing barrel as well to get a good comparison. The debt taken on in the past 2 years (accompanied with declining production) is what has weighed on the stock price (IMO).

  • Reply to

    Test Flow Rumors at DJ2

    by oilslicker52 May 27, 2014 4:32 PM
    baby_face_finster baby_face_finster Jun 1, 2014 11:08 AM Flag

    Thanks. I knew about the sale of the Eagle Ford Shale, but was thrown off by the poster saying it was the "same day" as the T&A permit. Also, they didn't sell of the EFS to buy ultra deep assets - the new assets they picked up were deep water assets.

    About H2S being present - if you look back at prior modifications of the well (even months ago) on the BOEM site, you will see that they all say that H2S is present and they have an attached plan for handling it on the rig and with their processing facilities. The T&A modification doc states that the previous plan for handling H2S still applies. So, I'm pretty confident that H2S content was not the reason for this T&A.

  • Reply to

    Why another 40K capable rig?

    by t0b00t Jun 6, 2014 5:15 PM
    baby_face_finster baby_face_finster Jun 6, 2014 10:29 PM Flag

    The new rig is a drill ship for the deep water - not UD.

    SARA is not out of the woods yet - but this latest horizontal well is a step in the right direction. They are taking a page out of EXXI's play book - shallow horizontals in old, large fields to try and skim an extra 10% off the top.

  • Reply to

    Test Flow Rumors at DJ2

    by oilslicker52 May 27, 2014 4:32 PM
    baby_face_finster baby_face_finster Jun 4, 2014 4:42 PM Flag

    The rig at DJ2 (Rowan EXLIII) is a jackup rig used in open water up to 500' (and cost big bucks). Highlander (and the proposed Highlander II location) is onshore (land/marsh). No way the EXLIII will drill Highlander II.

    If the tusc/carbonates were a "wash" at DJ2 (as rumors have suggested), I'm perplexed as to why they wouldn't just move up hole and test the Wilcox now while everything is in place at DJ2???? Doesn't make sense.

  • Reply to

    Lowest close ever?

    by rndymtchll Jul 3, 2014 1:40 PM
    baby_face_finster baby_face_finster Jul 14, 2014 10:59 PM Flag

    Esanto - I was mistaken in my IV post - they picked up the Joe Douglas in June and have it UNTIL August.

    on another note, my QQQ shorts have not worked out....yet. Shorted some more last week.

  • Reply to

    BBW2 rig

    by joey71959 Jul 11, 2014 2:17 PM
    baby_face_finster baby_face_finster Jul 14, 2014 10:53 PM Flag

    Rowan Joe Douglas has been on the well for about a month now. Should be done by the end of August.

  • 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
1.50-0.05(-3.23%)Aug 26 4:01 PMEDT

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