If they keep giving their insiders hundreds of thousands of free shares, their avg px will be 2 bucks soon. I believe they are buying time with these debt swaps for common, just to give the guys free shares, including FW himself.
Thinking one more plunge to high 40's, then a rally to 70 by year"s end. Maybe Saudi will announce a million bbl cut. That would get it done.
We are experiencing a last resort stall game which will allow them to hand out a million or more free shares to their key employees. By the end of the hedges, if oil hasn't gotten back to 80, we are one diluted turkey, worth about a buck
It will affect production in a negative way. However, I know that the efficiency (drainage radius and breadth) of the initial Fracs on many of the existing Eagleford wellbores is low. Look for refracking at a much reduced cost on hundreds of wellbores. No drilling rig needed.
We are. The orders are to keep production up. Truck oil from lease tanks until the pipelines are tied in. Open the chokes in a responsible manner.
Most of these heavily indebted Oils in the Bakken and Eagleford will have to open the chokes on existing wells to make up the difference on undrilled inventory. Their bankers will make them do it. Regardless of reservoir damage or reduced overall recovery
I drilled 22 wells in the Eagleford over the last two years . Three are waiting on Frack, and 9 are awaiting pipelines. The other ten are being held back somewhat by pipeline allowables, due to competition from other operators wells, and to minimize dry gas flaring.. Production is being held back by at least 40 % overall, I figure. Yep I am in the Oilfield. Drilling ahead in the sweet spots. Forget the stepouts and marginals
200 drilled wells still to be fracked in the Eagleford. Don't need no stinking drilling to keep production up. That and the fact that all choke sizes can be opened up a few 64ths at any time
We can only hope that the entire state will drop off into the Pacific ocean