Message #8289 on Investor Village; "AXAS" Message Board.
Month...................Barrels of Oil...........MCF of Natural Gas
Natural Gas Production has not been Updated as of now.
Message #8288 on Investor Village; "AXAS" Message Board.
I will Update July Production when the Texas RRC Updates.
Message #124 on Investor Village; "MCF" Message Board.
Nothing has been Up dated for July' Texas RRC Production.
The delay could be that June's data on New Wells has now been transfer from "Pending" to Oil & Gas Leases category. The RRC usually takes times to Updated Production when transfers are made.
Also watching the North Dakota Web Site for Production Updates; but nothing yet.
I suggest you look at the quarterly P &Ls and the Quarterly Balance Sheets.
Note the Trend Revenues are falling while Debt and Accounts Payable are growing.
You pick a lousy comparison to try to make USEG look bad.
You are like Margin; you both do little or No Due Diligence and waste investor's time reading both your garbage postings.
ED ( back to drinking my warm Diet Dr. Pepper)
USEG can become another NOG by borrowing $700 Million.
Is that what you want?
Non Operators need a fixed amount of employees despite higher Revenues from Non Operating Wells.
You pass yourself off as a financial person:
1. The Company acquires leasehold interests that comprise of non-operated working interests in wells and in drilling projects within its area of operations. As of June 30, 2014, approximately 60% of Northern’s 186,695 total net acres were developed.
2. NOG is a NON Operated like USEG with just a larger total Acres.
3. NOG has $700 Million in Debt.
4. NOG had a los in the 2nd Quarter while USEG made a profit.
5. Margin is just like you.
Petroleum Revenue Tax ("PRT") Expense
From the 10Q
Message #224 on Investor Village; "PQ" Message Board.
24 Hour Test on 06/29/2014:
9,113 MCF of Natural Gas
54.5 Barrels of Condensate.
I post the Link on Investor Village.
YAHOO doesn't allow any Links.
I also post the Texas RRC Production Reports on Investor Village.
" keep saying this stock has all the same attributes that KOG "
You can be serious; KOG kept borrowing to drill and buy more Leases than they could handle.
KOG was lucky to get a Deal to be bought out.
AXAS has kept its Borrowing to the minimum. AXAS its using Cash Flow and Sales of Non Core Assets to drill. Abraxas selling more Shares increased its Equity and made Abraxas able to acquire
more Leases and expand its drilling.
KOG; please. Consider yourself lucky that Whiting bought the High Debt ($2.3 Billion);
High Outstanding Shares (267 Million);
and poorly run company.
ED ( Where is that Diet 7 Up to calm me down)
Infinity Plus $1 more.
Why settle for less.
You should have said seven months to coincide with the 2014 10K coming out.
Does anyone want to sell in Mid Winter when Natural Gas prices are Up?
As long as Oil stays under $97.00; USEG will have an approx. $500,000 Gain on Hedges in the 3rd Quarter vs. an approx. $600,000 Loss on Hedges in the 2nd Quarter..
That is an approx. 4 Cents a share Postive swing in Earnings Per Share.
So far the drilling of the Well hasn't hit any problems.
Last Week's drilling was very good.
Problems don't usually show up until the 15,000 feet Depth. The deeper you go; it seems more problems arises.
I am looking forward to see what size Casing is used next; PQ used a 20 inch Casing up to 4,500 feet. Usually PQ uses a 13 5/8 inch casing at approx. 13,000 feet depth.
Be careful in throwing numbers around:
" LOE for the three months ended June 30, 2014 decreased to $5.8 million from $6.2 million for the same period of 2013. LOE per Boe for the three months ended June 30, 2014 was $12.72 compared to $16.49 for
the same period of 2013. The decrease in LOE was primarily due to significant non-recurring LOE and the sale of high cost properties during 2013. The decrease per Boe was due to higher sales volumes as well as lower overall costs for the three months ended June 30, 2014 as compared to the same period of 2013."
" due to significant non-recurring LOE and the sale of high cost properties during 2013"
This usually means high Well Workover Costs on existing Wells.
Also the mixed has changed with way higher % of Oil vs Natural Gas which lower LOE per BOE.
The actual Costs per Well in Dollars might not have changed much for existing Wells that weren't sold.
Also the Newer Wells are more higher producing Wells where higher Revenues are divide by a Fixed Costs.
Besides being a Retied Controller; I did all the Cost Accounting.
ED ( need to get another 2 Liter Bottle of Warm Diet Dr. Pepper.)
" 3 other Bakken wells (owned 71%) coming on stream "
Those Three Wells are the Stenehjem Wells.
"Abraxas owns a working interest of approximately 76%, 51% and 73% in the Jore Federal, Ravin West and Stenehjem wells, respectively.
Coming on stream is a while off since neither of the three Stenehjem has their horizontal Lateral drilled and will need to be Completed (fractured).
The Good News is that Abraxas has already Permitted Four Jore Federal Wells to be drilled when drilling is completed on the Stenehjem Wells.
The Jore Federal Wells are #5H; #6H; #7H & #8H.
Nice to have 76% Working Interest Wells drilled.
Note: The timing of the Jore Federal Wells to be drilled and Completed will be tight given that Abraxas doesn't want Bakken Completion done in Winter.
Posted on Investor Village, Message # 219; PQ Message Board.