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Transocean Ltd. Message Board

heman08 9 posts  |  Last Activity: Oct 12, 2014 1:47 PM Member since: Sep 29, 1999
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  • heman08 by heman08 Oct 12, 2014 1:47 PM Flag

    HK is a coiled spring. Below 30 is considered oversold. There has been no insider selling (even at much higher prices), Bakkan and El Halcon production is very good according to most recent statements from Floyd, and oil price will recover as soon as Saudi decides OPEC cheaters have learned their lesson. Way too much investor worry now about the TMS play which is in its early days with a long way to go.

    Sentiment: Strong Buy

  • Reply to

    Revolving credit increased

    by eddiehaskkel Oct 2, 2014 12:00 PM
    heman08 heman08 Oct 2, 2014 12:37 PM Flag

    Maybe HK is buying back common today.

    Sentiment: Strong Buy

  • " As Halcon is now in 100 percent multi-well pad drilling mode, Wilson said the company will continue its downspacing development focusing on the middle Bakken and the first bench of the Three Forks. “We’re heading toward eight wells per middle Bakken section, perhaps four for the first bench and second bench of the Three Forks,” he said, adding that, “We’re not doing much in the third and fourth right now, we’re going to let the industry work on that for a while and then see where we stand.”

    Slickwater boosts type curve
    With the transition to slickwater completions, the most current estimated ultimate recovery, EUR, for the company’s FBIR wells is now out of date. That type curve puts the EUR at 801,000 boe for the FBIR wells, up from the company’s previous type curve with an EUR of 576,000 boe (see chart). Now, however, Wilson said that FBIR EUR is closer to 1 million boe. “Here on Fort Berthold Indian Reservation you’ll see this 800,000 barrel type curve is more like a million barrel type curve now with the improvements in frack design that we’ve initiated over the past year or so.”

    In addition to its FBIR assets, Halcon has assets and operations in western Williams County, where the same holds true for EURs. Wilson said Halcon is making wells at approximately 500,000 boe each, up from a previous type curve indicating an EUR of 333,000 boe.

    Second half outlook
    Halcon started the year running four rigs in the Williston Basin, and while the company is currently down to three rigs, Wilson said the plan is to increase back to four rigs by the end of the year.

    Halcon expects to spud approximately 23 gross operated wells in the basin in the second half of 2014, and further expects to participate in 135 to 140 gross non-operated wells at a working interest of approximately 5 percent. "

    Sentiment: Strong Buy

  • “Up in the Williston Basin we’re literally knocking the ball out of the park,” was how Halcon Resources Chief Executive Officer Floyd Wilson described the Houston-based independents Bakken performance during a presentation at the Barclays CEO Energy Power Conference in New York on Sept. 3.

    With a transition to slickwater completions and successful downspacing tests, Wilson said Halcon is now making 2,000 to 4,000 barrel per day wells “on a regular basis” on its Fort Berthold Indian Reservation, FBIR, assets.

    In fact, one of those wells, a middle Bakken well on the company’s Blanca South pad in Eagle Nest field in northern Dunn County, recently set a company initial production, IP, record of 4,381 barrels of oil equivalent per day. An adjacent middle Bakken well on a spacing of approximately 660 feet came in with an IP of 3,551 boepd. In comparison, two earlier middle Bakken wells on the same spacing unit that were gel fractured had IPs of 2,675 and 2,174 boepd. Halcon saw similar improvements in wells on its neighboring Blanca North pad.

    To the east in the neighboring McGregory Buttes field, two middle Bakken wells on Halcon’s Sneffels North pad recently went on production with IPs of 4,081 and 3,152 boepd in contrast to a middle Bakken well on the spacing unit completed using gels that had an IP of 2,088 boepd. And a recently complete first bench Three Forks well on that same pad had an IP of 2,902 boepd, comparatively better than a gel-completed first bench well on the unit that had an IP of 1,563 boepd. The company is seeing similar results on another of its Sneffels pads where three recently completed middle Bakken wells came in with IPs exceeding 3,000 boepd, nearly three-fold higher than a gel-completed middle Bakken well on the same spacing unit that had an IP of 1,138 boepd."

    As Halcon is now in 100 percent multi-well pad drilling mode, Wilson said the company will continue its downspacing development focusing on the middle Bakken and the first bench of

    Sentiment: Strong Buy

  • West Texas Intermediate oil rose from a 17-month low after U.S. crude supplies dropped to the least since January. WTI for November delivery advanced $1.24, or 1.4 percent, to $92.40 a barrel at 10:58 a.m. on the New York Mercantile Exchange. Futures traded at $91.94 before the release of the EIA data at 10:30 a.m. in Washington.

    Sentiment: Strong Buy

  • "One thing that remains fairly clear is that natural gas prices are not likely to see a strong and sustainable price recovery soon. And that probably means that we'll see more deals from natural gas companies such as Encana looking to "get in" on the profits from crude oil offered by companies like Athlon."

    The market is there for a successful HK sale once its TMS play is de-risked and proven.

    Sentiment: Strong Buy

  • Reply to

    Good Numbers From The "TMS"

    by avnrinvestor Sep 26, 2014 12:53 PM
    heman08 heman08 Sep 26, 2014 2:49 PM Flag

    I got the same update but this is old news-reported by HK in June.

  • Reply to

    Sorry, shorts. The party has ended.

    by underground871 Sep 26, 2014 10:28 AM
    heman08 heman08 Sep 26, 2014 10:55 AM Flag

    I don't know whether the bottom is in for HK but it is oversold ((RSI below 28) and the broader market started today in oversold territory (McClellan Oscillator at -246). CNBC has been reporting all week about the Russell 2000 death cross and trotting out the usual bearish crowd of commentators and technicians. Constant chatter about dollar strength and commodity weakness. We are very near the end of the historically weakest week of the year (the week following Sep options exp) and will soon be entering a very bullish period post mid-term elections. So as we ponder all this bearishness in the oil patch I find it interesting that WTI is quietly basing over $91 and if WTI closes up today it will mark two consecutive weeks of higher WTI closes despite the strong dollar and weak seasonal US oil demand. Draw your own conclusions.

    Sentiment: Strong Buy

  • Reply to

    US Dollar vs. Crude Oil

    by nsleesman Sep 23, 2014 1:13 PM
    heman08 heman08 Sep 23, 2014 2:57 PM Flag

    Good post explaining the current correlation between the USD and Brent. Important to note that this correlation is a relatively recent phenomena and at some point supply demand factors will once again trump the USD correlation as far as the price of oil. Today the price of WTI is up and HK is down due I think to continued technical index selling of small cap stocks.

RIG
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