Kind of funny but the cc will also have:
1. Actual number on Bakken production growth
2. Revenue number for Q3.
3. production numbers on 2-4 TMS wells
4. Some projections for Q 4 including Bakken growth rate
5. Details about rig deployment
Right now the numbers may be more important than the commentary
They have always been very good at ramping production. The FBIR is the only place with flat out development drilling and should surprise to upside. At ElHalcon most of drilling is to hold leases and they have not transitioned to full pad based development, so growth won't be as impressive. And TMS very early so most we get is production info on a few of the recent wells.
they do have among the highest netbacks. they won't be squeezed as bad as soem of the others and I think they could handle lower oil prices without cutting the dividend.
Won't move with the market, that is for sure. It doesn't react to up moves in broader market or in the sector. This Q report likely to show robust growth. If USEG can be a little positive about continuing growth in Q4 over Q3, then we will see if USEG can react to company specific good news.
No COO at this point. Do they have any candidates. Do they need a CEO and a COO for a tiny company with a non-operated model. Maybe just a single top exec.
Busted through $3 and Floyd has been holding all operations updates for the quarter report. Bakken team has been performing "outrageously". El Halcon slower but steady pace with some new data points. And there will be whole group of new TMS wells with results, plus likely some added TMS results from SCA and GDP.
Schw was all cash the minute it broke below $3. There was likely some forced selling there. Luckily for me I am old enough that I dropped the margin practice, though I kept the screen name.
Pipelines from Marcellus won't be in place thsi winter or next winter. After that I agree the party is over. and there will be generally market pricing. (unless the LNG export facility is open by that time). But I believe the DP gas for this winter is already presold at price over $10. CDH has presold their small amount of production (into the same pipeline) at prices above $10
typo, as anyone who follows ECA knows. 300 MMCF of gas into algonquin gates will bring strong cash flow this winter and next
HK does not have to raise any money next year. That is hugely different than saying HK does not have to raise any money until 2015.
They call that gas optionality. I haven't even mentioned Deep panuke that sells 3000 MMCF/day into algonquin gates (boston) fffffor more than $10 per MCF durung most of the winter.
They can ramp Haynesville (an amazing nat gas play) to 2 BCF/day in a short time. They can ramp Horn River (another amazing Nat gas play) to 2 BCF/day in a short time. They still have clearwater acres and tons of Duvernay and Montney that have lots of gas.
Mine currently is a drag on share price. Think of it as a lottery ticket. It may or may not have a payoff down the road. Trouble is that it is costing us a few million dollars a year to keep that lottery ticket in a safety deposit box (current and available) so it can be cashed in if the day ever comes when it suddenly has value. For now it has the negative value of an annuity costing $3 million a year. That is a lot of oil wells.
I was not impressed that production grew 9 percent from Q1 to Q2, mainly because it had dropped 13 per cent from Q4 2013 to Q 1 and was still in range of 2011 production. Q3 will finally show some real growth. Now the trick is to sustain the new level (maybe 1650) and build production from there.
16H and 17H dropped off pretty heavily in August. Hopefully the 19H and 20H continued at good rate in September. I am a little worried that Oct could drop off a lot if nothing new coming along. The MCF well that is currently drilling should add to November if it is a good well.
Still will be nice to see the Q3 numbers. Will be a quarter of real growth - first since 2011.
Which implies that ECA t a good deal - that was my point. I am an ECA shareholder, not an ATH shareholder. From my standpont, the more value we got for our $$, the better.
I did some checking. For a mere 40-50 million dollars I can get an annuity that pays me 2.8 million a year, with a life expectancy of about 20 years. I think the mine site likely has a longer life expectany so the underwriter might want more.
What is the charge required for a permanent annual liability of 2.8 million dollars. How much would it cost me to buy an annuity to provide that annual income, and The obligation is not permanent, just until I die.