Lease Name: BULLSEYE UNIT
Well #: 101H, District: 01, County: ATASCOSA
Filing Purpose: New Drill
Wellbore Profiles: Horizontal
Per Scarlet Holguin, "Please find attached revised P-12 for the Bullseye Unit #101H. Previous P-12 showed tract 28 as unleased - we now have this tract leased." (06/08/2016 03:27:29 PM)
Status: Approved View this form in Adobe Pdf Format View Current W-1 View this form in Adobe Pdf Format View Current W-1H View this form in Adobe Pdf Format View Current Permit View this form in Adobe Pdf Format View SWR 13 Formations
General / Location Information
Filing Purpose Wellbore Profiles Lease Name Well # SWR Total Depth Horizontal Wellbore Stacked Lateral Status #
New Drill Horizontal BULLSEYE UNIT 101H SWR 36 8250
Surface Location Information:
API # Distance from Nearest Town Direction from Nearest Town Nearest Town Surface Location Type
013-35379 Click here to search API Number. 4.3 miles S PLEASANTON Land
GPS Coordinates - Datum: NAD 83
Latitude Degrees: 28 Latitude Minutes: 54 Latitude Seconds: 15.72
Longitude Degrees: -98 Longitude Minutes: 28 Longitude Seconds: 27.43
Survey/Legal Location Information:
Section Block Survey Abstract # County
MAC GREAL, P 622 ATASCOSA
Township League Labor Porcion Share Tract Lot
Perpendicular surface location from two nearest designated lines:
Perpendiculars Distance Direction Distance Direction
Survey Perpendiculars 2225.0 feet NORTH 440.0 feet EAST
29 This well must comply to the new SWR 3.13 requirements concerning the isolation of any potential flow zones and zones with corrosive formation fluids. See approved permit for those formations that
They decided to cancel the basin sale, and go for drilling there. Basin is low cost area to drill, unlocking the bakken duc(wells) will not require much more capital which will come online end of june. If an investor thinks this company can survive to q4, and oil stays about 50m then we will be reward (but you won't, I will since im on the long side.) basin standard media break even is low 40's and will come online q4. I'm sure tomorrow will have some pain, but by the end of next week it will be back flat and continuing the uptrend.
You picked your side being short, which is okay, I'm on the the long side. And if you saying you don't have a position then lol i don't believe ya.
I agree with ya, if they can use the money to bring more production online quicker and hedge it out at 50, we will be happy come q4. Its a risk, but if successful, we will be thankful that they made this decision.
• Abraxas Petroleum (NASDAQ:AXAS) -9.7% AH after announcing a public offering of 25M common shares, with an underwriters option to purchase up to an additional 3.75M shares.
• AXAS says it plans to use the proceeds to pay down debt under its credit facility, expand planned 2016 drilling capex and for general corporate purposes including acquisitions.
• AXAS raises its 2016 capex budget to $40M as it plans to accelerate west Texas and Austin Chalk drilling programs.
Imo if 90 percent of production is hedged at 39, and oil goes to 50-60, then axas losses out on the potential revenue. However if axas can get new production online with little borrowing, and have future hedges at 50-60 then could possible make some money.
I think axas is doing the right thing its a unfortunate evil to get axas going in the right direction. Watson knws what he is doing. This isnt a pennystock dlution scam that ends up in exc pockets. The money is going to the rght things imo.