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GMX Resources Inc. Message Board

pocilujko 61 posts  |  Last Activity: May 20, 2015 9:45 PM Member since: Oct 4, 2003
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  • pocilujko by pocilujko Mar 5, 2015 2:21 PM Flag

    1. Abraxas finished drilling the last Jore Federal Well; now have four Bakken Wells waiting Completion in early summer.
    2. Abraxas will start drilling the Three Well Pad next.

    3. When #2 above is finished drilling; Abraxas will move the Ravin Rig down to Wyoming to begin drilling there.

    4. Working Capital is getting better in 1st quarter; didn't say how much.

    5. Waiting for Completion Cost to drop another 10 to 20% to start Well Completions.

    6 Lease Operating Expense (LOE) is dropping and Abraxas is working on getting the LOE down even more.

    7. Looking at many deals.

    ED

  • pocilujko by pocilujko Apr 23, 2015 2:10 PM Flag

    1. Abraxas is spreading their CAP EX costs nicely.

    2. In the 1st quarter; all their was drilling costs.

    3. In the 2nd quarter, Abraxas will do completions on Six Wells. Completion Costs are approx. half the Well's Cost.

    4. Abraxas will continue drilling but only with its Company Owned Rig.
    a. Saves on CAP EX.
    b. Keeps their very experienced drilling rig crew stable and saves on drilling costs.

    5. Additional Cash Flow will start in May.

    Very good plan by Abraxas; getting assets(drilled Wells) to produce and keeping Asset (Rig) busy at all times.

    Remember, Bakken and Eagle Ford Wells are long lives assets producing Cash Flow for many years.

    ED.

  • pocilujko by pocilujko May 1, 2015 3:56 PM Flag

    This Message Board is now being target of traders trying to push AXAS down.

    AXAS is doing better than I thought they would be at tis time.

    1. With Well Completion Costs down more than expected; AXAS went ahead and completed the Grass Farm Eagle Ford Well.

    2. AXAS will now start Completing the R. Henry Eagle Ford Well.

    3. Later this month, AXAS will start completion on the Jore Federal Four Bakken Wells.

    4. AXAS increased their Lease acreage and Working Interest in their great Bakken acreage.

    5. Despite the Acquisition of more Bakken Leases; AXAS CAP X went up ony $5 Million due to the lower cost of completing wells. AXAS timing in holding off Completions is really paying off.

    Beware of the traders, they only concern is to make profits at your expense.

    ED

  • Reply to

    What a disaster.

    by finstrader Apr 30, 2015 4:40 PM
    pocilujko pocilujko Apr 30, 2015 5:28 PM Flag

    I agree; you shouldn't have been born.

    ED

  • Great news:

    1. Completion Costs had come down.

    2. Abraxas will began Completion on the 4 Well Pad; the Jore Federal #5H, 6H,7H, & 8H.in late May.

    3. Abraxas will begin shortly to Complete the Two Eagle Ford Wells; Grass Farm #2H & R. Henry #1H;

    4. When the Raven Rig finishes drilling the three Wells in the Bakken; the timing might be right to bring the Rig
    down to drill five Wells in the Power River area.

    5. Abraxas did some trading of leases with a large Oil Company to get more drilling units sites in the Bakken.

    6. Costs are now down to $7 Million per Bakken Well to drill and Complete.

    7. We should see some new production starting in May, 2015.

    ED

  • Reply to

    Conference Call

    by pocilujko May 7, 2015 5:17 PM
    pocilujko pocilujko May 7, 2015 7:03 PM Flag

    Joe :
    Go play with fast moving trucks on freeway.

    What is with next year? Third quarter results will be huge.

    ED

  • pocilujko pocilujko Apr 18, 2015 9:16 PM Flag

    I don't tell investors when to buy, hold, or sell a stock.
    I will tell you that AXAS looks to one of best Oil & Gas Companies out there.
    1. Very low Debt.
    2. Super producing leases in the Bakkens.
    3. Very Good Eagle Ford Wells.
    4. I think AXAS gets Brent Pricing on some of its Texas Wells.
    5. Low costs in drilling both Bakken and Eagle Ford Wells.
    6. They have two Eagle Ford Wells drilled and awaiting completion when either Completion Costs go down or Oil Prices go Up.
    7. In a months time; AXAS with have Seven Bakken Wells drilled awaiting Completion.
    8. Very strong Positive Cash Flow coming in even though Oil Prices are low.
    9. Can't wait until AXAS starts drilling in Wyoming; great Oil & Gas production there.

    ED

  • Posted on Investor Village; Message #8471; "AXAS" Message Board.

    Wells Stenehjem #10H thru #15H.

    This will be Six Wells on same pad.

    ED

  • pocilujko pocilujko May 8, 2015 2:00 PM Flag

    Drilling Status on Bakken Wells:

    "In North Dakota, our company-owned rig continues to impress, so much so that we will now drill more wells in 2015 than originally planned. We're just drilling them quicker, which is good. And due to service cost savings, we can still accommodate these additional wells and only increase our capital expenditure budget from $54 million to $55 million, which should still generate free cash flow.

    Specifically, the rig is on a 3-well Ravin Northwest pad in McKenzie County. The Stenehjem 5H should reach TD today at about 21,000 feet, a liner will be run, the rig will walk to the Sten-Rav 1H to drill its lateral. Intermediate casing has already been set at about 11,000 feet. And then on to the lateral for the Ravin 8H.

    The timing of the completion of these wells will depend on service costs, oil prices and adequate gas capture. We need to make sure, because of the new NDIC rules, that we can sell 100% of our gas. The rig will then move to an 11-well Stenehjem pad to drill the first 6 of the 11 wells, and then probably move to an additional pad after that, hopefully by the end of the year."

    ED

  • "But without these issues, we would have been well above our Q1 guidance. Last year, we made the decision to not frac any wells, late last year, until costs came down at least 35%. We ended up with 9 drilled and noncompleted wells in inventory: 2 in the Eagle Ford, 4 in the Bakken and 3 in the Permian. Costs have now come down in excess of 35%, so we've made the election to go ahead and frac all 9 wells here during the second quarter. That process is underway in the Eagle Ford. Our Grass Farm 2H was successfully fracked with a 30-stage frac that was completed this past weekend and the well is now on flowback.

    And we -- in the Eagle Ford, we expected about a 38% reduction in frac costs, and then in the Grass Farm well, we did at least that or perhaps a little bit better.

    We're currently fracking the -- our Henry 1H with a 34-stage frac. It's underway. Both of these wells we own 100% of and both of these wells involve a new frac design for us, essentially more but shorter stages and more frac sand per foot of lateral. We've increased from 1,500 pounds to about 2,000 pounds.

    Up in the Bakken, we've got 4 33-stage fracs scheduled to commence about May 20 on our ore well Jore West pad, where we own about a 76% working interest. And we expect frac savings of about 50% from these wells.

    Out in West Texas, we have 3 Clearfork wells scheduled to be fracked within the next 2 weeks, and we have about a 90% working interest in those 2 wells."

    ED

  • YAHOO keeps deleting my posting on above.

    ED

  • pocilujko by pocilujko May 9, 2015 4:32 PM Flag

    First Quarter:

    Capital expenditures, including purchases

    and development of properties $12,400,000.

    ABRAXAS Acquired 210 Net Acres.

    Abraxas drilled all quarter.

    Abraxas cost per Acre is under $5,000 which is very cheap in this location.

    ED

  • Reply to

    Abraxas has Permitted Six New Wells

    by pocilujko Apr 30, 2015 7:03 PM
    pocilujko pocilujko May 2, 2015 4:33 PM Flag

    Drilling and Completing Six Wells on a single Pad reduces the cost of each Well.

    ED

  • pocilujko by pocilujko May 7, 2015 10:23 PM Flag

    from the transcript of 1st quarter Conference Call:
    "In January, we are serviced by OKEOK, their gathering system, into their Bear Den plant. The plant had an issue. Their sales line hydrated off, it basically froze off and we went to a 100% flare"

    " In addition to that, the Regency gas plant that we use out in West Texas and the Delaware Basin also went down for maintenance for about 6 weeks during the latter part of the quarter and into the second quarter."

    "Good news, both issues are now fixed. The Bakken issue was fixed in March, and -- although we still had some periodic timeline pressure issues. And the West Texas Regency plant went back on this past weekend, so it will have some impact on the second quarter."

    ED

  • pocilujko pocilujko Mar 20, 2015 2:56 PM Flag

    Another "ULTIMATE"Jerk !!!!!!!!!!!! Search Google for "Jerk"

    ED

  • Posted on Investor Village;" AXAS" Message Board
    Message #8452.

    ED

  • Reply to

    Blue Eyes Well's Production thru February, 2015

    by pocilujko Apr 1, 2015 7:37 PM
    pocilujko pocilujko Apr 2, 2015 1:56 PM Flag

    Would be very simple if YAHOO allows Links posting

    ED

  • pocilujko by pocilujko May 7, 2015 5:17 PM Flag

    Nice and short call.

    1. Good news is that Abraxas is fracturing and Completing nine Wells.
    a. Four Bakkens
    b. Two Eagle Fords
    c. Three Permian Wells.

    2. Bad News; is that Abraxas needs to shut in many Wells as not to chance interfering with the New Completions.

    3. When drilling is completed on the present three Wells, Abraxas will begin drilling the Six Wells Permitted..

    4. Abraxas will begin drilling Wells in Wyoming in Late Summer with some one else Rigs.

    5. If the Permian Wells are good, Abraxas will do more Permian Wells Fracturing and Completion..

    6. Looks like the fracturing and Completion Costs have bottom.

    7 Looks like more drilling will happen in the Bakkens:
    a. The Six Well Permits is part of a Eleven Well Pad.
    b. Abraxas will begin drilling in the new section they acquired; mainly in the State Owned Section; the Federal part takes longer to get permits.

    ED

  • Reply to

    Shrewd

    by iyacyas6 May 7, 2015 7:45 PM
    pocilujko pocilujko May 7, 2015 8:50 PM Flag

    3Rd Quarter will have NINE New Wells Producing.
    Also existing Wells that were shut in while the New Wells are fractured and completion will be coming back on production.
    Note #1: The Four Bakken Wells and Two Eagle Ford Wells have their highest Production is in its first three months (3rd Quarter).

    Note #2: The Shut-In Wells coming back on Production will have built up pressure and will initially start will higher production.

    ED

  • Message #71660 on Investor Village.
    NOTE: "TMR" Message Board not "AXAS" Message Board

    ED