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US Energy Corp. Message Board

ssuehtemorp 24 posts  |  Last Activity: 18 hours ago Member since: Feb 24, 2009
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  • First they sell the plane! Then they sell the apartments! Now one of the brothers retires!

    This is the company's opportunity to go out and hire an oil and gas man and become an operator in 2015! Stock price premium would double with the right hire!

  • Reply to

    HVI Comment

    by richardclovis Sep 12, 2014 9:50 AM
    ssuehtemorp ssuehtemorp Sep 12, 2014 11:01 AM Flag

    Since USEG has a 30% working interest that would place the value of their share of the Buda over $150 million just on the Booth-Tortuga lease. That is 50% more than the stock is trading for.

    That doesn't count the K.M. Ranch lease or the new Dimmit acquisition. It doesn't factor in the Eagle Ford or the Austin Chalk. And it doesn't factor in their Bakken production. Fair value for these shares right now is close to $12.

  • Good to see you back and would value your opinion on the July production results from the Buda. Specifically, what is your thinking on seeing the production on the more mature wells stabilize?

  • Reply to

    very interesting - very bullish

    by booleansearcher Sep 8, 2014 9:19 PM
    ssuehtemorp ssuehtemorp Sep 9, 2014 8:09 AM Flag

    Since the next leg up for the stock is $6 to $7 as soon as third quarter earnings are released, or sooner, why would anyone be looking to sell. The "smart money" is still buying.

    Boolean, have you not seen the latest production numbers on the Buda wells?

  • ssuehtemorp ssuehtemorp Sep 8, 2014 9:23 AM Flag

    One point not everyone may have caught is the production from the Buda has much better pricing, and lower production and depletion expenses, than production from the Bakken. This will not only accelerate top line growth, but also net earnings and cash flow.

  • Reply to

    Combined Buda Production 1st Qtr vs July

    by richardclovis Sep 6, 2014 2:49 PM
    ssuehtemorp ssuehtemorp Sep 8, 2014 6:28 AM Flag

    Excellent analysis. Buda production is surging in the third quarter. Mostly oil and sold for more than WTI.

  • ssuehtemorp ssuehtemorp Sep 8, 2014 6:26 AM Flag

    Bump!

  • Reply to

    Buda Pending Well July Production

    by richardclovis Sep 6, 2014 3:45 AM
    ssuehtemorp ssuehtemorp Sep 8, 2014 6:25 AM Flag

    I see the Beeler 17H production went up. It is looking like a Super Buda. The 19H is off to a very strong start. I must say this is as good of a report as anyone could have expected.

    But why is this great news being dumped on the obscure Texas Railroad Commission site on Friday night and Saturday and not shouted from the rooftop with an operations update press release on Monday? If anyone knows Keith or Reggie they should call and ask for an update.

  • ssuehtemorp ssuehtemorp Sep 5, 2014 8:54 AM Flag

    I believe Dan Hughes has already asked for well spacing that under 160 acres per 4,500 foot lateral well. But since the company is going to 9,000 foot laterals 320 acre spacing is probably the new well spacing. The effect on PV-10 value is the EUR per well goes up.

  • Reply to

    Insider Buyer

    by offgridblogger Sep 3, 2014 1:05 PM
    ssuehtemorp ssuehtemorp Sep 5, 2014 8:46 AM Flag

    The purchase was open market. Long time in coming.

  • ssuehtemorp ssuehtemorp Aug 28, 2014 1:35 PM Flag

    One other point. The $140 million is just for the Buda. Contango was estimating the Eagle Ford could have a PV-10 value of $232 million just for their 50% working interst. Since then MCF and USEG have added several thousand gross acres in the Booth-Tortuga area.

  • ssuehtemorp ssuehtemorp Aug 27, 2014 9:26 AM Flag

    Good to have you back. The Buda story is moving fast and it is getting hard to keep up with. Contango had so-so success with the dual lateral on the Beeler 16H and no success fracturing the Beeler 8H. However, they have had great success drilling 9,000 foot laterals ala the Beeler 20H. The 9,000 lateral is now the drill method of choice and the 20H was one of the three wells drilled for an average of $2.6 million.

    The unknown partner is fracturing the first two wells in an unknown location in Dimmit. That may or may not be successful and may or may not continue. Of note the Beeler 8H flowed fine and then slowed dramatically, not a sign of not hitting the natural fractures but of a limited oil pool. So no correlation between the results on that well and what the results will be for the unknown partner. Since they are drilling in a different geologic area it may still take time to figure out if fracturing these wells is worthwhile or not.

  • ssuehtemorp ssuehtemorp Aug 25, 2014 1:20 PM Flag

    Two things to consider. The well costs are now down to $2.6 million and the PV-10 of $140 million was based on $4 million well costs. And, they have added a lot of additional acreage with Buda potential since they mentioned the PV-10 value of $140 million.

  • ssuehtemorp by ssuehtemorp Aug 23, 2014 12:19 PM Flag

    The discussion on what the oil business is worth needs to take into consideration that there will be a significant expansion in PV-10 value in 2014 due to the drilling success. It is hard to quantify, but consider the addition of the proven producing reserves from the Beeler 6H, 9H, 16H, 17H, 19H, and 20H wells. Plus all of the proven-not producing reserves from the acreage between the 20H well and the 6H well. Right now it is not a stretch to see year-end 2014 PV-10 value in excess of $150 million.

    Should the acreage with the new partner yield anything worthwhile that number could jump considerably.

    In 2015 it will be rinse and repeat. Plus, there could be huge additions if the Eagle Ford well is successful.

  • Reply to

    Assumptions for Q3 : $ 95 oil

    by bcfbubba Aug 21, 2014 9:46 AM
    ssuehtemorp ssuehtemorp Aug 21, 2014 1:55 PM Flag

    You may have missed the conference call where Keith announced they were already up to 1,352 Boepd for June. I would use 1,500 Boepd for July and 1,600 Boepd for August. No insight yet into September so keep it at 1,600 Boepd.

    Assuming $80 per Boepd adds up to $11,528,000.

    It could be a lot more than that if the well they just fracture stimulated does anything significant. My assumptions above make no assumptions about the unknown well, drilled in an unknown are, with an unknown operator.

  • Reply to

    Q3...

    by realinvestmentstrategies Aug 16, 2014 9:10 PM
    ssuehtemorp ssuehtemorp Aug 18, 2014 9:25 AM Flag

    The second quarter was not what was expected because they sold some Bakken production and the Beeler 16 well started a few weeks later than anticipated. Perhaps the stock price is reflecting that. Because it is certainly ignoring what is being cued up for Q3.

    July production was 150 BOEpd higher than second quarter production. And the Beeler 20H well didn't start producing until August. Plus two wells with the partner are being frrracked in August. Very good signs finally for the blow out quarter we have been waiting for.

  • Winner, winner, winner, and right next door again. Luck be a Lady Tonight!

  • Reply to

    Why

    by flat_roader Jul 17, 2014 5:07 PM
    ssuehtemorp ssuehtemorp Jul 23, 2014 10:24 AM Flag

    Why not ask Value Digger to do an article on USEG? He clearly has more followers than Hidden Value Investor. He needs to move on it before the stock moves up and away from him.

  • ssuehtemorp by ssuehtemorp Jul 7, 2014 10:44 AM Flag

    Re-listened to the last conference call this morning from 2 months ago. Keith seemed very encouraged on the potential of the Beeler 16H well. At the time of the conference call they had already finished drilling the dual lateral and the well was being completed.

    He also mentioned they were keeping their cards close to their vest because there were still additional leasing opportunities and they did not want to drive up the prices. No doubt they are trying to get more Buda acreage. Surely some of these wells we don't know the results on have turned out OK for them to be so aggressive.

  • Reply to

    Global Hunter Securities Energy Conference

    by richardclovis Jun 20, 2014 11:16 AM
    ssuehtemorp ssuehtemorp Jun 22, 2014 9:44 PM Flag

    Sorry, but how do we know Beeler 5H and 9H are disappointing? No one on this board knows how many days, or hours, they produced in April. Pure speculation.

    When we get May results, then we can be more definitive in what we are looking at.

USEG
3.82+0.12(+3.24%)Sep 16 4:00 PMEDT

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