The latest home run Buda well is the Jessica well drilled by CML Exploration, LLC. This well was spud on March 2, and according to the Texas Railroad Commission produced 29,071 barrels of oil by May 31. The Jessica well is drilled parallel to the western side of the Beeler 7H well and is located halfway between the Beeler 16H well and the Beeler 4H well on the northern side of the Booth-Tortuga lease.
From seeking alpha article, Chesapeake Joining Buda Oil Rush In South Texas
yes, i saw now the jessica well by a private firm was reported today in SA right next to USEG acreage. I still think we went to sale to reg price. I expect this to be knocking on $5 any day now.
I think the BS sell off of the oil sector is over. Energy was the best performer of any S&P sector last Q and lots of people locked in profits and now people have been buying what was a bargan for no reason.
so if insiders are buying net than that points to good things to come. One of the reasons i bought a huge amount of this company was not only was it so cheap and looked like there were some drilling that could move the price but because the incentive structure of the company is conducive to a higher share price. Mngmt does not get lots of options unless production and the share price goes up. This more than overcomes and family company issues to me.
The article he is perverting holds up the arrangement as an example of how it should be done. its at motly fool, Magnum Hunter Resources' Investors Shouldn't Be Too Worried About the Company's Airplane Usage. its in responce to a bloomberg article, Magnum Hunter Turns $891 Million in Debt Into 127% Gains
Shaner is still on the payroll as a director and has not sold a share. The plant opened 4 days late. It hasnt been at $22 since Nov but give it a six weeks and it will get there.
Sentiment: Strong Buy
also just out in 8 K, ARP Third Amendment
• increases the Borrowing Base to $825,000,000;
• if Borrowing Base Utilization is less than 25%, the Partnership incurs the applicable margin on Eurodollar loans of 1.50%, the applicable
margin on alternative base rate loans of 0.50% and commitment fee rate of 0.375%; and
• revises the maximum ratio of Total Funded Debt to EBITDA to be (i) 4.50 to 1.0 as of the last day of the quarters ending on June 30,
2014, September 30, 2014 and December 31, 2014, (ii) 4.25 to 1.0 as of the last day of the quarter ending on March 31, 2015 and
(iii) 4.00 to 1.0 as of the last day of each quarter thereafter.
Atlas Energy (ATLS +2.1%) is initiated with an Outperform rating and $55 price target at RBC, which believes ATLS can maintain a top-tier distribution growth over the next few years even if underlying MLP distribution growth is below expectations due to IDRs in the deep splits and significant future equity needs at both.
Also, RBC starts the Atlas Pipeline (APL -0.1%) MLP at Sector Perform with a $36 target, seeing low-to-mid single-digit distribution growth through the next several years due to expected strong volume growth on its systems but offset by equity capital needs and a future preferred equity conversion, factors which likely will keep a lid on distribution growth through the forecast period.
I dont think this is a good sign. The deal must be delayed at least. Not a disaster by any means but not the catalist to get this very cheap price up yet.
Moly supply & demand seems to be in place so i dont see anything that will cause a 3x in price that USEG said it will take to start up production. They say that as they hope to monetize it and i am fine with that as long as the money is green.
Global production of molybdenum in 2013 reached a new high of 539.2 million lb, up from 535.2 million lb in the previous year, the International Molybdenum Association said Wednesday.
Global molybdenum consumption was also higher at 537.7 million lb from 522.5 million lb in 2012.
"These figures indicate that molybdenum use remained buoyant throughout 2013, with production keeping pace or slightly exceeding demand," IMOA's secretary-general Tim Outteridge said in a press release.
China was the biggest molybdenum consumer in 2013, using 196.2 million lb in 2013 compared with 188.4 million lb in 2012, IMOA said.
Europe was the second biggest consumer at 140.4 million lb, up from 135.9 million lb in 2012.
Japan and the US were third and fourth largest users of molybdenum by region, at 57.4 million and 56.1 million lb respectively. Usage in the CIS was 23 million lb, with other countries together totaling 64.6 million lb, the association said