Many reasons for a perceived bad manager bad it often is in the company culture and starts at the top. Go compare a 5 year chart for Baker Hughes and Haliburton. Haliburton share price has ran away from Baker over the last 3 years.
Since the beginning it all comes down to the success of the wells being drilled by EOG. Until EOG allows ZAZA to talk we live off bits and pieces. The one well released did seem very solid to me
Sold about 20% of my shares around the same time and moved the cash to TPLM as well. Triangle has some large immediate upside. I am now pretty balanced between the two
Wet shorts are called bathing suits. Appropriate as they will most definitely be taking a bath when earnings come out on Sept 9th
May 1 thru July 31 period. The cold weather was gone and basin going full tilt
3rd spread for Rockpile in full operation and running 3rd party work exclusively
Caliber gas plant in operation for the full quarter
And yes, Triangle was drilling and completing wells on a very timely basis thanks to have their own completion company. No waiting out a winter backlog for services
Chemwiz. You need to read it again. Quantum has the right to have ZAZA buy them out after 2 years on an "all or nothing" basis
And they have the option to buy it all back in 2 years. Everyone needs to read the 8K filed today
More on Quantum Energy Partners
"Quantum targets private equity investment opportunities that range from $200 million to $2 billion in enterprise value per transaction. We make early stage startup investments as well as later stage growth capital and buyout investments.
Quantum’s investment philosophy is grounded in a true respect for the technical, operating and commercial aspects of the energy business. Therefore our investment team is comprised of not only individuals possessing financial expertise, but also professionals possessing technical and operating expertise and individuals who have actually run their own private energy company or a division of a large public energy company. Our multi-disciplinary investment team enhances our investment decision making process as well as enables us to be a more knowledgeable, supportive and value-added partner for the energy industry’s top entrepreneurs.
We seek to partner with management teams that have a track record in building successful companies, have a focused and targeted business plan, demonstrate a sustainable competitive advantage, have the expertise and experience to manage a fast growing enterprise and that are truly seeking a value-added private equity partner."
I read this as an indication that EOG is ready to go to full out production and ZAZA does not have the ready cash to participate. If true its good that EOG is ramping up. Bad that ZAZA continues to struggle with cash
All in all it sounds positive.
Caliber's operating area runs right thru some concentrated Whitting-Kodiak land. Great promise here