It is not the rig...it is the personnel. The longer the time that passes the workers find other work. You can take experienced workers off of working rigs and hire new workers to get an idled rig going again. You have safety training and learning how to do everything.
The rig just drills the well...it does not put it in production. That comes after completion (fracking) and hookup to piping or a tank battery.
That is how I based my reply to you (pasted below) on February 6th ?
I was counting wells drilled each month and accumulating for the year.
Good point...the production falls faster as time passes.
Probably closer to 500,000 bbl/day for 100 rigs
So, 500 rigs would be 2 and 1/2 million barrels in a year
One former CEO ( I think Exxon) said production could fall by 5 million barrels in the US after one year.
It is not just that the new wells are producing they are also replacing the declining production of the old wells. The fracked wells from the last 5 years are the biggest decliners. So, you have many wells declining...plus the lost production not drilled.
Lindberg is really about twice that production(and growing). That was just the Last week in February numbers of production for one the new well pads.
Your thread title says "PGH is the Find of the Century?"
Yet, nothing about that in the body of your message.
What do you mean by that? In one way you are making a statement...by the wording of it...and another it is a question...more a challenge.
You said last year...
i live in california and my cousin works with the governors office in the building division. he told me something that the bashers wont like."
I guess you can tell us now what it was, since TMEN has closed up.
It wasn't a lie was it?
That should be very interesting to hear.
I think he was part of the e-mail group with investorchicago_66_upa.
The grapevine group, I think they called it
He probably contacted zack_henry42 and told him to remove that post.
He said something about Mr. Landegger leaving the company and that Thermoenergy is finished and his 200,000 shares are worthless.
Is that right?
Well, at least you finally admit that I did know it all.
Is it bad to have someone on a message board who knows the techs and states it?
Would you rather just have ignorance and bias?
I have power plant and water treatment experience...a lot of it...and I have no angst against this company. At first I thought it would be a possible investment, but it had too many failures and weaknesses.
You should have listened to me. I could have saved you tens of thousands of dollars on your 200,000 shares. Lord knows I tried. I told you about the Oxy system pressure problem and that the techs for the water were not suitable for fracking. I HAVE known it all for years, and tried to tell everyone. Not up in your face, but logically and educationally. I even showed on this board where the CEO and Chief engineer said the techs were not needed in their own words on the conference call and in one of the publications.
Odd that you are mad at me for trying to warn you.
The time was not wasted if someone did not invest or sold before this final collapse.
"probably" done does not sound like acceptance.
He started a thread, I reply, also another...he would rather argue than discuss the stock and company.
I replied with questions and respect.
It seems it is that way with everyone here.
He then grips about the other poster making stuff up and THEN makes up stuff about the other poster...totally irony on this board.
TMEN should change it's name to SOAP
for soap opera.
I am not sure what you mean by "material non-public information"
The information was posted by three different people on this message board.
Any one in that area can drive by and look in the windows or knock on the door.
Anyone can call and see if the phone gives a busy signal.
If no one is there any more...who would put out the PR?
If there is no money for anything...who would pay the costs?
It can be confirmed or disproved if you drive to the headquarters or call the phone number.
The 6 weeks have past and there has been nothing from the company.
The latest report is that the phone only returns a busy signal and a look through the headquarters windows shows disarray.
Indications is that their money became exhaust and all personnel have left.
I hope you were not deeply invested here.
I live in WT. It wasn't that long ago there were take away restraints because of increasing production. A few pipelines came on line to help. They were hauling out oil in RR cars also.
Production is probably a little higher now. It has not peaked yet.
The differential will need to be great enough to haul it by rail again. IMO
I have not seen that. Nearly all sand cars at this time.