the major relief will come when the train offloading stations are built on the west coast so that oil by rail by sea goes to Ca refineries cheaper. that is still being fought by some port areas. more by rail to Phialedelp[hia will also help. imo, the differential is already cooked into the stocks for each formation so moving from bakken or Niobrara to eagleford is moot. best operator with best geology in each basin is best bet. location, location, and location.
two different revenue models between Rockpile and Cailber. Caliber rates are somewhat independent of resource value, Rockpile is very much dependent on it. That is why they are considering spinning Caliber now as the value of the midstream asset should not be impacted by the value of the resource. Lot of very good MLP's and midstream operators at good value right now though so not sure they will g et the full multiple it deserves.
they need to drill. Before they can drill they need access. That is settled now.
from EDGAR January 2015 TPLM owns stock or warrants at various prices that would equate to 50% of Caliber
Following the issuance of the New Class A Warrants on February 2 2015 Triangle Caliber Holdings holds warrants to purchase 16,626,667 Class A Units at various exercise prices, and FREIF holds warrants to purchase 5,906,667 Class A Units at various exercise prices. On a fully-diluted basis , assuming the exercise of all outstanding warrants and no further capital contributions, Triangle Caliber Holdings and FREIF would each hold a fifty percent (50%) Class A ownership interest in Caliber
good find. IF they got the $1B they mentioned, that would value Caliber at more than Rockpile total cap right now.
Smart to split pipeline now and hold on to Rockpile while the revenue is depressed.
so...pay down debt, add land, or stock buyback?
I would like to see some advancement in their completion methods. Specifically it would be nice to see some high stages, high proppant longer horizontals. Good company, good geology, seems a little stiff. But I am holding hoping that midstream relief provides better wellhead prices and pressures while we wait on crude correction.
in ND you either have to frac, plug, or bond for cost of plugging after 12 months of no production. Wonder if they will bond or it they have a clock ticking to get them done within 12 months of drilling. Watch the sand market when these start to get completed. the surge of completions will all most likely be using the high proppant design.
SA pulled up on the Houthi's and announced the end of the bombing campaign and the Houthi's promptly broke the deal and took over another major army post that SA promptly bombed not 8 hours after announcing cessation of hostilities
but there is a large backlog of wells waiting to be fracked when the price of oilw arrants their completion. On top of that some pressure pumpers are starting to do refracs based on contingencies of increased production. Not sure if increase production will raise EUR curve of wells or just frontload production but it will be interesting to watch.
real volume is going to come as completion techniques incorporate new 90 - 100 stage coiled tube completions with slickwater and high proppant volumes. Wells that used to do 1500 bopd on their 24 hour ip are going to be doing double or triple that depending on geology. WLL flathead wells didn't use much proppant but still flowed at 7000 boepd + using 94 and 97 stage fracs on 10k +/- laterals. Both set new records. this is a tech game as much as a resource play at this point. look forward to NCS Energy doing some coiled tube completions in the DJ basin to get some comparison to offset wells.
completely different geology in ND. The reality is that by inducing pressure relief through thousands of little tremors they probably remove the risk of a much more destructive earthquake at some point in the future.
added back my trading shares today. up to 5k trading shares now. $5.30 to $6.30 and then repeat. still holding a large core to trade around in the event of SA / Iran war or buyout to take private
Iran trying to get surface to air missiles to Houthi to take out Saudi jets. If they succeed SA could go off. Not too hard to slip a 30' inflatable with a couple of 300 hp 4 stroke yamahas loaded down with shoulder fired missiles in if you can get the mother ship close enough
Is Paulson taking over? Somebody trying to get a new board put in place 1 piece at a time?
The amendments to the by-laws and certificate of incorporation will become effective if approved by stockholders at the 2016 annual meeting. The amendment to the by-laws would specify an eligibility threshold of holding 3% or more of outstanding common stock for at least 3 years. It would also provide that an individual stockholder or group of up to 25 stockholders who meets the eligibility threshold, and who complies with specified procedural and disclosure requirements, could include in Whiting's proxy materials stockholder-nominated director candidates. The number of stockholder-nominated director candidates may not exceed 25% percent of the directors then serving.
good stuff. strippers will make it eligible for export, just need a pipeline to get it to west coast so it can be exported
win..check million dollar way for flathead 97 and 94 stage frac results. wells paid off in 4 - 6 months at $55 WTI. new game with these high number of frac, coiled tube completions. 246k bopd in 4 months + 40 Mcf +/- nat gas. no info on btu of the gas though. hope it is wet