This may reset the valuations for SLCA and HCLP
Fairmount Santrol the new name of the Chesterland company that had been known as Fairmount Minerals said it has confidentially submitted a draft registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock.
The date, number of shares and price of the proposed offering have not yet been determined, Fairmount Santrol said in a news release on Wednesday, Aug. 20. Reuters reported in June that the size of the IPO could be “around $1 billion.”
Fairmount Santrol is one of North America's largest providers of industrial sand to the oil and gas industry. It said that the confidential submission of the registration statement is allowed under the Jumpstart Our Business Startups Act, or JOBS Act.
tplm has unlocked value in Montana regardless of what happens with the service side. practically no value at all currently associated with their holdings there while some offset operators in the area are posting some good wells. additional value will be created as eur curves climb from better completions.
company request for trading halt says ends 8 am Tuesday. Guess that is 8 am aussie time. Release says that ETKEF will issue a statement prior to resumption of trading.
rockpile and caliber are trading at multiples much lower than comparable service companies. Until they are separated, they will continue to be valued at the lower multiples.
f/when they spin them off they will hold some of the units to continue to receive revenue but can generate enough free cash from the sale of the units they put on market to go and drill Montana to get value for land that is given little to no value in current tplm pps.
WLL has a real good well SKOV 3H using the new NRC Energy isolation fracs in the same area and if TPLM can book a couple of those wells that Montana land really moves the needle for tplm reserves and overall value.
Spin them out into an MLP, keep 60 - 70% of the units and use the cash to accelerate the drilling.
so how much is stull going to try and extort and how long do they ahve to negotiate with stull before submitting a bond??
thanks for the info
and in Bill Costello's fund. Bill is really sharp, his opinions/comments have helped me a bit...ps doesn't appear that cee is worth wasting the typing based on the comments I have read.
thanks. where are you getting your MT numbers from?
for others the Skov 3H was the 60 stage well. typo above re:50 stage.
this well should pay off in 12 months +/-. Cannot imagine what the production will be in good geology after they figure out how to maximize this tech.
new well completions use more sand. even with less wells, sand demand is going higher. lot of operators right now crying the blues over delays due to lack of sand. must suck to be short under these conditions.
it gets a better multiplier as a stand alone company. the value will be determined by the multiplier. it is worth more spun off than it is incorporated into TPLM