The long and short of it was Peterson wanted out. Something had him convinced KOG would have a rough time in the future going it alone. This company has been shopped around for the last two years. WLL's offer appears to be the best. Who knows if there were any others. The total surrender by Peterson was in WLL favor thus yesterdays rally.
"same thing was said when the "Loyal Longs" were buying hand over fist @ $2.00......"
Prove you now own or ever owned shares of KOG...Your pure BS. A while back you stated you bought shares at 35 cents in 2009. A penny stock player makes good.. yea right.
Your a total fraud Welbie... You don't have a clue as to what value this deal is placing on your KOG shares and yet your busy singing the praises of this blind merger. Do you work at being stupid or does it just come natural.
.177 of a share of WLL.....
What time.....which day......which year ??
You don't have a clue as to what value your selling your company for. What will be WLL's closing price on which day that determines the dollar value to be received for your KOG shares ?? You can't have a clue so you can't value the deal so you can't determine if this deal is in your best interest. So is receiving WLL stock instead of cash a good deal for KOG stockholders or is it the only deal ??
I told you, you cannot produce a dollar amount per KOG share to be able to value this deal. Welbie your front-running just like a used car salesman. The KOG stockholder cannot value this deal because there isn't any established value to base the deal on. Again Welbie, what is the value per share for each KOG share that this deal is being based on ??? Without a value per share how do you determine if the deal is fair ???
Your an idiot Welbie... you cannot produce a figure that you will receive per KOG share in order to be able to determine if this deal was fair or not. Your saying how great this deal is without knowing how much per share the stockholder would receive. This deal is a total shame.
The market recognized that WLL bought KOG very, very cheaply. Normally the acquiring company drops in price to reflect the cost of acquiring. Not this time because the stockholders of KOG got hosed, plain pure and simple.
Wake up KOG stockholders. You've been cheated on this buyout deal by your own management. Even Mr. Market understands what has happened and thus the WLL rally. The diehard KOG longs are still in deep denial. They left a lot on the table.
Peterson was out to benefit Peterson. You don't have a clue as to his total compensation from WLL. What has been made public is he will receive a board position with WLL. What else??? He's been shopping KOG for years and the best he could do was a price under the current trading price ??
Bud Brigham sold Brigham Resources for a lot less than what was talked about at the time as being fair when it was bought out by Statoil. No one knows his total compensation package other than a job for life with Statoil.
Gary Evans is setting up Magnum Hunter for a similar fate, selling out for very little to no premium. But Gary will make out just fine, don't worry.
And don't forget Floyd Wilson of Petrohawk fame re-inventing himself again in the form of Halcon Resources. That one is supposed to be sold in another year or so for around $25 to $30 per share. Currently selling at $6.79. The buyout will probably be closer to $10.00. At least that would be bit of a premium.
Bloomberg is reporting:
So far this year, Oklahoma has had more than twice the number of earthquakes as California, making it the most seismically active state in the continental U.S. As recently as 2003, Oklahoma was ranked 17th for earthquakes. That shift has given rise to concern among communities and environmentalists that injecting vast amounts of wastewater back into the ground is contributing to the rise in Oklahoma's quakes. The state pumps about 350,000 barrels of oil a day, making it the fifth largest producer in the U.S.
The rise in earthquakes isn't just happening in Oklahoma, challenging scientists and regulators across the country. The growth of seismic activity alongside oil production in fracking states from Colorado to Ohio has sparked a series of studies tying the temblors to drilling activity. Most seismologists around the country are convinced that wastewater injected back into the ground is jolting fault lines and triggering earthquakes. Between 2006 and 2012, the amount of wastewater disposed in Oklahoma wells jumped 24 percent, to more than 1 billion barrels annually, according to the Oklahoma Corporation Commission, which regulates the industry.
Guilt by association. It's not fracking per se that is associated with earthquakes; it is wastewater injected back into the ground.
The Goodrich Beech Grove, I'm told, has an interesting flow back tale to tell and I anxiously await the " rest of the story," but part of it is that shortly after flow back began a road repair/overlay started and access to the site was shut down from 8 a.m. to 5 p.m. each day.
Also, the well was said to be very gaseous, perhaps causing some blockage on flow back.
This past weekend there was a coiled tubing rig brought in, apparently for the purpose of cleaning out the blockages.
GDP today announced the completion of its Nunnery 12-1H-1 (93.3% WI) well in Amite County, Mississippi. The well has achieved a peak 24-hour average production rate to date of approximately 815 barrels of oil equivalent ("BOE") per day.
"Would it be possible to do CO2 flooding and primary recovery at the same time ?? "
You don't have an answer. Why did you bother to post a worthless reply?
When a company gives an EUR for any given well, is it only based on primary recovery (usually 20%)??
Wouldn't a true EUR have to include the recovery factor of CO2 flooding and water flooding also ??
Denbury recovers around 18% additional oil in place when using CO2 flooding in mature oil fields. Would it be possible to do CO2 flooding and primary recovery at the same time ??
Halcon 11-22H-1 reported a 24 initial production rate of 1,548 barrels of oil equivalent this past Monday. Good job HK!
Halcon Blackstone 4H-2, located roughly halfway between Centreville and Woodville on the south side of Hwy 24, H&P FlexRig# 249 drilled a 5,400' lateral in 28 days (Great job!). Awaiting a fracturing.
Halcon Fassman 9H-1, access road is located north of Hwy 24 off of Leake's Road via #$%$ Mill Rd. Brand spanking new H&P Flex3 Rig # 623 spudded May 29. Drilling away.
Halcon S D Smith, located on the Jackson Louisana Road south of Woodville. H&P Flex 3 Rig# 249 appears to have spudded and is drilling away!