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GMX Resources Inc. Message Board

pocilujko 77 posts  |  Last Activity: Mar 5, 2015 2:21 PM Member since: Oct 4, 2003
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  • pocilujko by pocilujko Dec 16, 2014 11:40 AM Flag

    1. The Three Stenehjem Wells: So far ; good news; remember these are Thee Forks Formation Wells which normally don't produce as good the Middle Bakken Formation. The delay in the pipeline might turn into a blessing when Crude Prices go up.

    2. The Two Dutch Wells are very good like the first two Dutch Wells.

    3. If the Cat Eye Well turns out very good; Abraxas Jourdanton South Block has very many drilling locations.

    4. The Four Jore Federal Wells being drilled is going smoothly. When Abraxas Completes these Wells starting in April, Completions Costs should have dropped by them.

    5. Abraxas 2014 Year End Exit Rate is great, giving Abraxas a nice production rate without spending High CAP EX.

    6. With all this new Wells; Proven Reserves should have a nice Big Jump.

    7. Also note that Natural Gas is approx. 25% of the Production and Natural Gas Prices are holding steady and will go up with winter weather.

    8. Please note, as Rigs drilling for Oil dropped even more, most of these Oil Wells drilled produced a lot of Natural Gas. As Supply of Natural Gas drop, Natural Gas Prices will go Up.

    ED

  • Reply to

    Bakken Crude @ $41.75

    by pocilujko Dec 13, 2014 4:20 PM
    pocilujko pocilujko Dec 15, 2014 12:53 PM Flag

    Too Much Oil in North Dakota.
    Most Oil; is shipped by truck to a railroad terminal and then shipped to East & West Coast.
    Transportation Cost is too high.

    ED

  • Reply to

    Bakken Crude @ $41.75

    by pocilujko Dec 13, 2014 4:20 PM
    pocilujko pocilujko Dec 13, 2014 4:24 PM Flag

    Sep Sweet Crude Price = $74.85/barrel

    Oct Sweet Crude Price = $68.94/barrel

    Nov Sweet Crude Price = $60.61/barrel

    Today Sweet Crude Price = $41.75/barrel (lowest since March 2009) (all-time high was $136.29 7/3/2008)

  • pocilujko by pocilujko Dec 13, 2014 4:20 PM Flag

    See Investor Village; "BRY" Message Board; Message #156540

    PPrices could plateau production: Helms says 2015 could be tough for oil

    By April Baumgarten on Dec 12, 2014 at 10:29 p.m

    News Alerts

    BISMARCK — With oil prices on a steep downward slump, 2015 could be a tough year for oil producers, North Dakota’s lead regulator for the industry.

    “I started talking months ago about soft oil prices in 2015. I had no idea how soft,” said Lynn Helms, director for the state Department of Mineral Resources.

    “I honestly did not see them this soft, and that is going to have a significant impact.”

    Sweet crude in North Dakota was at $41.75 per barrel on Friday, according to the report, the lowest since March 2009, before the current boom. The price of oil has dropped 40 percent since June. The New York Mercantile closed Friday with $57.81 per barrel. The all-time high was $136.29 in July 2008.

    October rounded out with almost 1.18 million barrels produced a day, just under September’s numbers. It’s the first time in North Dakota hasn’t set a production record in eight months, Helms said. In the current climate, production could plateau.

    The rig count also has gone from 191 in October to 183 currently.

    Helms said the commission has already been advised by a half-dozen companies that from January through March they expect to cut their rig count down by 30, as they let their two- to three-year rig contracts expire every month. He cited Oasis Petroleum’s plan to reduce its rig count by 10 rigs in the first half of 2015 as the company lets its rig contracts expire.

    If this price declines continue into next year, Helm said we could see another 12 or 15 rigs being released. That could also slow down production.

    “It’s not like we’re going to see a drastic, sudden drop, but we’re going to see all of the major companies laddering their rig count down as we walk through January, February, March and maybe further as oil prices stay down,” he said."

  • pocilujko pocilujko Dec 13, 2014 3:54 PM Flag

    Abraxas wording was:
    Will continue to monitor;
    without commodity price recovery; rig potentially released aster R. Henry #1H.

    Note Presentation was dated December 8th ; price of Oil has been dropping steady since then.

    ED

  • pocilujko pocilujko Dec 12, 2014 4:33 PM Flag

    Seem strange that Abraxas would Permit a Eagle Ford Well when AXAS talking of stopping drilling after the Henry #1H Well.
    Maybe the South Block's Cat Eye Well is really good and Abraxas wants to confirm the South Block with a Well East of the Cat Eye Well.

    Lets hope this is the case.

    ED

  • Message #8378, Investor Village; "AXAS" Message Board

  • pocilujko by pocilujko Dec 12, 2014 3:47 PM Flag

    WTI and N. Texas: $56.40

    Colorado Western: $44.35CO

    North Central: $49.12
    WB Mixed Sweet: $46.85
    ND Light Sweet: $45.43
    Wyoming Sweet: $49.04
    N Wyo. / S Mont.: $47.39

    ED

  • posted on Investor Village; Message #71429
    "TMR" Message Board.

    ED
    CAP EX spending is starting drop pretty quick.

  • Reply to

    Comments

    by pocilujko Dec 10, 2014 8:34 PM
    pocilujko pocilujko Dec 11, 2014 12:02 AM Flag

    You got it.

    Just a Note;
    Almost all Hedges are with a subsidiary of the Lending Bank.
    Wells Fargo subsidiary is a big Hedge counter party.
    Hedges are used to backup Reserve Valuation.

    ED

  • Reply to

    Comments

    by pocilujko Dec 10, 2014 8:34 PM
    pocilujko pocilujko Dec 10, 2014 11:05 PM Flag

    Go to Page F-1 of the Year 2013 10K:
    "The counterparties to our derivative contracts are the same financial institutions from which we have outstanding debt; accordingly, we believe our exposure to credit risk to these counterparties is currently mitigated in part by this, as well as the current overall financial condition of the counterparties. "

    As you see; as long as Abraxas has Loans outstanding; there is NO RISK.

    ED

  • pocilujko by pocilujko Dec 10, 2014 8:34 PM Flag

    We should be getting an Operational Update soon from Abraxas;

    One of the Updates should be:
    From November 4th Press Release:
    "At Abraxas’ Cave prospect, in McMullen County, Texas, the Company successfully completed the Dutch 3H and Dutch 4H with a combined 74 frac stages. Both wells are expected to begin flowback shortly. Abraxas holds a 100% working interest in the Dutch 3H and 4H"

    Abraxas should by now have a 30 day production history on these Wells.

    2nd Comment:
    Abraxas hedges only cover a small portion of Crude Oil production.
    But what most Abraxas investors forget is that Abraxas Natural Gas production is growing.
    Just My Opinion; Natural Gas prices have bottom out late last week; therefore Natural Gas Revenues will be going up.

    ED

  • pocilujko pocilujko Dec 10, 2014 8:26 PM Flag

    I don't know Bogwa ; From his posts, I gather he or she was from Texas. I lived between Chicago and Joliet. Illinois.
    I know quite a few poster that I talk to on the phone; but not Bogwa.

    ED

  • Posted on Investor Village; Message $8376; "AXAS" Message Board.

    ED

  • Reply to

    CEO

    by golf10a Dec 8, 2014 4:09 PM
    pocilujko pocilujko Dec 8, 2014 4:19 PM Flag

    I got rid of you by using "Ignore User".

    ED

  • pocilujko pocilujko Dec 8, 2014 4:14 PM Flag

    Go to YAHOO Home page for Abraxas;
    Click on SEC Filling;
    Click on Full Summary on SEC 8K Filling of December 8th;
    Click on Exhibit 99.1

    ED

  • Reply to

    bogwa

    by williamsj3 Dec 8, 2014 9:50 AM
    pocilujko pocilujko Dec 8, 2014 3:53 PM Flag

    "I think most of us are wondering if this company can survive?"

    What makes you think that will happen.?

    AXAS has very little debt and production is still running strong,
    Cash Flow is strong and CAP EX can be cut back.
    Abraxas Reserve PV-10 is way higher than its property Valuation on the Balance Sheet; so no Valuation impairment charges.

    Where is Bogwa; only Bogwa knows. I hope is health is great and he is enjoy a nice warm cruise somewhere.
    Country & Western is very big in Las Vegas at this time.

    Do your own Due Diligence.

    ED

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