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Black Diamond, Inc. Message Board

zoom_bee 42 posts  |  Last Activity: Jul 5, 2015 5:08 PM Member since: May 8, 2000
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  • Samson Resources added from "Petroleum news"
    Another oil operator has been added to the list of those ordered to restrict production by the North Dakota Industrial Commission due to flaring rules.

    Previously, the state’s Department of Mineral Resources announced that five companies ― Emerald Oil, Oxy USA, QEP Resources, Abraxas Petroleum and Enerplus ― were required to curb production to 100 barrels per day throughout April to reduce flaring. DMR spokeswoman Alison Ritter told Petroleum News Bakken that Samson Resources has been added to the list as it has three wells requiring restrictions to be in compliance with gas capture targets.

    The gas capture target that has been in place since Jan. 1 requires operators to capture at least 77 percent of produced natural gas. NDIC’s flaring policy says companies that are not capturing at least 60 percent of the gas must be restricted to 100 barrels of daily production. Emerald Oil, with 10 wells out of compliance, has faced restrictions every month this year because it is only capturing about 29 percent of its natural gas. The number of wells restricted by the other five companies varies from three to nine which capturing between 67 percent and 75 percent of produced gas.

    Companies would only face monetary penalties if they do not follow the restriction order. NDIC has granted flaring exemptions for a few operators since a gas capture policy took effect. The commission is willing to grant such exemptions if the requests are due to extenuating circumstances outlined at a March commission meeting such as right-of-way delays, midstream down-time for system maintenance or safety issues.

    Sentiment: Buy

  • Straight to operations and earnings
    Loan Payment $116.5M for 5 years
    Loan payments: $147,658,463.16

    60 monthly payments of:
    $2,460,974.39

    Total interest:
    $31,158,463.16
    ________________________________________
    Start date: June1, 2015
    End date: June 1, 2020
    Loan amount:
    $116,500,000.00
    Extra fees:
    $0.00
    Interest Rate:
    9.75%
    Effective Annual Rate:
    10.2%
    APR (?):
    10.20%
    Looked like an even swap.
    Get your woman and children in the house.

    Sentiment: Buy

  • Hedged value in 2015
    31,332 BO at $87.29 with 17,500 MCF at $4.00 in 2015
    Shut down 5-6 wells producing at 150 BOE/D in 2 fields in North Dakota.
    IP'd and held two monster wells ready at 30K/MO. BOE.
    January & February BOE/D tailored to Hedge.
    Do not play this man short he is a world class manager.
    Result is an increase in BOE/D of about 70 BOE/D with numbers to the hedged value.
    Already paid a 9.75% debt of 116M in April gaining on would be interest fees.

    Sentiment: Buy

  • Reply to

    Floyd optimized hedged value

    by zoom_bee Apr 13, 2015 8:15 PM
    zoom_bee zoom_bee Apr 14, 2015 5:28 PM Flag

    Tucker if Floyd paid $116.5M in debt off, saved $31,158,463.16 in future interest, Franklin is an industrial stock holder of HK shares that are stable, and controlled for the short term. The fact that there is no payment now all goes to the operation of the company.
    The swap that appeared to be even is a gain of $31M plus all the non-loan payment value each month. So it's just the opposite of your thoughts.
    Savings
    ------------
    Loan Payment $116.5M for 5 years
    Loan payments: $147,658,463.16

    60 monthly payments of:
    $2,460,974.39

    Total interest:
    $31,158,463.16
    ________________________________________
    Start date: June 1, 2015
    End date: June 1, 2020
    Loan amount:
    $116,500,000.00
    Extra fees:
    $0.00
    Interest Rate:
    9.75%
    Effective Annual Rate:
    10.2%
    APR (?):
    10.20%
    Looked like an even swap.
    Get your woman and children in the house.

    Sentiment: Buy

  • Reply to

    Floyd optimized hedged value

    by zoom_bee Apr 13, 2015 8:15 PM
    zoom_bee zoom_bee Apr 14, 2015 6:41 PM Flag

    One more way to evaluate the transaction.
    65.8M shares face value $1.78 or $0.11 up from close at transaction.
    Savings $2,460,974.39 per month times 12 months = $29,531,692.68.
    Divide $29,531,692.68 by 65.8M shares = $0.45/share each year for 5 more years.
    So gain is $0.11 plus $0.45/share this year, plus $0.45/share each year (next 4 years).

    Sentiment: Buy

  • HK Net income for 2014 is $315,956,000 with assets of $6,434,475,000
    HK Production for the fourth quarter of 2014 averaged 46,076 Boe/d.
    HK participated in 320 gross (98.3 net) wells, all of which were completed in 2014.
    HK expenditures were $1.5 Billion in 2014.
    HK is lowering interest rate of the Senior Credit Agreement which is $1.05 billion and their highest interest burden.
    HK had $43.7M in cash on-hand at end of year.
    HK cash position is growing at $4M per month and improves with the senior note settlements

    Floyd usually gets itchy with acquisition of more assets in this time.
    HK land positions
    Location gross acres Net acres
    Louisiana 203,543 __ 190,077
    Mississippi 287,195 __ 116,173
    Montana 10,603 __ 3,388
    North Dakota 335,864 __ 128,775
    Ohio ____44,858 __ 43,117
    Pennsylvania 88,873 __ 84,904
    Texas___ 358,692 __ 227,767
    Total acres 1,329,628 __ 794,201

    Sentiment: Buy

  • Reply to

    Hold on Floyd has cash

    by zoom_bee Apr 24, 2015 9:44 AM
    zoom_bee zoom_bee Apr 24, 2015 2:24 PM Flag

    Floyd just paid off $116.5M of high interest loan from Franklin and now $40M or $156.5M in finance wiggle room. He should have over $50M in cash as his year end cash was $43.7M and growing about $4M per month (Jan-Mar) would add $12M.

    Also may use more shares if the market is right he must be looking at the half price (fire sale companies) that can't drill at these prices. I'm thinking he's got another surprise coming and it will be such a deal he'll get a 2 for 1 sale price and go in at his drill rates, acquire and save a starving company by drilling and holding their production lease hold. Of course it would be just after the closing of this $40M deal.

    Sentiment: Buy

  • Petroleum news Bakken by - Mike Ellerd According to preliminary results released April 21, Halcon Resources expects its first quarter production to fall in the range of 42,500 to 43,500 barrels of oil equivalent per day, which would represent a 6 to 8 percent decrease from fourth quarter 2014 but essentially on par with the 42,107 boepd the company averaged over 2014. The company estimates its first quarter production was approximately 81 percent oil, 11 percent natural gas and 8 percent natural gas liquids.
    In the Williston Basin, Halcon averaged two operated drill rigs in the quarter spudding seven wells, all in its Fort Berthold core area and putting another six Fort Berthold wells on production with a combined average 24-hour initial production of 3,522 boe and an average 30-day IP of 1,833 boe. Those average IP rates are 38.2 and 38.8 percent higher than the company’s fourth quarter 24-hour and 30-day IPs. In its other Bakken core area in Williams County, Halcon put one well on production with a 24-hour IP of 1,977 boe. Halcon also reports the Fort Berthold and Williams County wells continue to outperform company type curves of 801 million and 477 million boe, respectively.
    The six Fort Berthold area wells brought on production in the quarter are on a common pad with spacings of 660 to 770 feet. One set a company IP record producing 5,248 boe in the first 24 hours on production.
    In the Williston Basin, Halcon currently has 225 producing wells, 172 producing from the Bakken formation and 53 from the Three Forks. The company has another 16 wells either being completed or awaiting completion, 11 in the Bakken formation and five in the Three Forks
    In February, the latest month for which production data are available from the North Dakota Department of Mineral Resources, Halcon ranked as the state’s 12th largest Bakken producer averaging 31,286 barrels of oil per day from operated, non-confidential wells. HK also reports well cost down 30% in Bakken.

    Sentiment: Buy

  • March numbers much improved in the top 4 Fields in the ND Bakken
    Bakken BO __ BO __
    Field ____ Feb-15 Mar-15
    Eagle Nest 229,811 261,569
    Antelope 153,869 152,966
    Four Bears 105,414 118,380
    McGregory 213,683 195,322

    Total 702,777 728,237

    Sentiment: Buy

  • Reply to

    Bakken March #'s good

    by zoom_bee Apr 28, 2015 6:59 PM
    zoom_bee zoom_bee Apr 28, 2015 7:13 PM Flag

    Floyd held this pad in the Eagle Nest field.
    Seen the Well files and Scout data as these 5 just came off the confidential list.
    Eagle Nest pad shut-in
    Wells completed then shut-in (waiting oil price increase)
    NDIC File No:24418 Well Name: FORT BERTHOLD 148-94-17C-08-3H
    NDIC File No: 24417 Well Name: FORT BERTHOLD 148-94-17C-08-4H
    NDIC File No: 25502 Well Name: FORT BERTHOLD 148-94-17C-8-5H
    NDIC File No: 28280 Well Name: FORT BERTHOLD 148-94-17C-8-6H
    NDIC File No: 28281 Well Name: FORT BERTHOLD 148-94-17C-8-7H

    Sentiment: Buy

  • Reply to

    Bakken March #'s good

    by zoom_bee Apr 28, 2015 6:59 PM
    zoom_bee zoom_bee Apr 28, 2015 7:16 PM Flag

    He's got another move coming.

  • Reply to

    Hold on Floyd has cash

    by zoom_bee Apr 24, 2015 9:44 AM
    zoom_bee zoom_bee Apr 28, 2015 8:18 PM Flag

    Tucker don't blink.
    He's just pulled off a huge finance move.
    The Company separately disclosed that it expects to report production for the three months ended March 31, 2015 of 42,500 - 43,500 barrels of oil equivalent per day (Boe/d). First quarter production is estimated to be ~81% oil, ~8% NGLs and ~11% natural gas, and estimates that it will record a non-cash pre-tax full cost ceiling impairment charge of $450 - $650 million in the first quarter of 2015. Further, Halcón expects the following modifications to be made to its senior secured revolving credit facility, subject to the satisfaction of certain terms and conditions:
    · Removal of the interest coverage ratio covenant with the institution of a total secured leverage ratio covenant of 2.75x
    · Reduction of the borrowing base to $900 million
    April 22, 2015 J.P. Morgan Securities $40M at $1.80/share
    April 21, 2015, J.P. Morgan Securities LLC, sale of $700M aggregate principal 8.625% senior $1.69 shares
    April 15, 2015 Goldman Sachs Asset Management, L.P., $70.7 million principal amount 9.75 Senior exchange price of $1.82 per share
    April 7, 2015, Franklin Templeton Investments $116.5 million principal amount $1.78 per share.

    You're a bright man and a long... He's got cash, refinanced deals close April 29th and May 1 on the last two transactions... Can't you see the forest for trees?

    Sentiment: Buy

  • well name ____ FEB BO __ MCF gas FEB BOE __ MAR BO MCF gas MAR BOE
    Horseshoe Hill 11-22H_ 3,666 7,331 4,888 __ 3,386 8,040 4,726
    Black Stone 4H 2 4,342 5,006 5,176 __ 3,998 4,981 4,828
    Fassmann 9H 1 5,524 6,358 6,584 __ 5,700 7,602 6,967
    S. D. Smith 1H 3,474 4,959 4,301 __ 3,215 4,901 4,032
    Shuckrow 10H 1 11,762 14,827 14,233 __ 10,252 13,909 12,570
    George Martens 2H 6,896 6,547 7,987 __ 5,898 5,870 6,876
    month total ___ 35,664 45,028 43,169 __ 32,449 45,303 40,000
    Pretty close

    Sentiment: Buy

  • well names ___ Month BO MCF Month BO MCF
    Horseshoe Hill 11-22H 1
    2/1/2015 3,666 7,331 3/1/2015 3,386 8,040
    Black Stone 4H 2
    2/1/2015 4,342 5,006 3/1/2015 3,998 4,981
    Fassmann 9H 1
    2/1/2015 5,524 6,358 3/1/2015 5,700 7,602
    S. D. Smith 1H
    2/1/2015 3,474 4,959 3/1/2015 3,215 4,901
    Shuckrow 10H 1
    2/1/2015 11,762 14,827 3/1/2015 10,252 13,909
    George Martens 2H
    2/1/2015 6,896 6,547 3/1/2015 5,898 5,870

    All wells FEB tot 35,664 45,028 March 32,449 45,303

    TMS steady

    Sentiment: Buy

  • FB 148-95-26A-35-2H well in Eagle Nest with IP oil 4,447 BOD with 4,804 MCF/D or 5,248 BOE/D at IP
    March 68,893 BO with 58,038 MCF sold, April 41,425 BO with 38,314 MCF sold
    2 ½ months registers 141,314 BO with 134,559 MCF or 163,741 BOE in 80 days
    2,000 BOE/D since inception and 5 new wells planned on pad

    Sentiment: Buy

  • Reply to

    Monster well info released

    by zoom_bee May 21, 2015 8:20 PM
    zoom_bee zoom_bee May 22, 2015 9:39 AM Flag

    HK recent slides show 5 rigs drilling, 2 are off set drilling for HK.
    Also 43,078 BOE/D (average over quarter @ oil $90.28 hedged) doesn’t look broke
    Well costs down 42%, Three Forks formation 100% HBP
    25 - 30 gross operated wells w/ 2 rigs planned
    70 – 80 gross non-op wells participation
    Sitting on 2 well pads already FRAC stimulated and resting
    Internal Rate of Return at 51% with current Oil price
    Drill Floyd and look broke
    When those 14 wells on 2 pads IP and flow, Floyd will be shining and Tucker Whining

    Sentiment: Buy

  • Reply to

    Monster well info released

    by zoom_bee May 21, 2015 8:20 PM
    zoom_bee zoom_bee May 23, 2015 8:57 AM Flag

    Tucker - You really keep putting your foot in your mouth.
    HK filed 43,078 BOE/D average to the security exchange and number is present on their power point slides.
    HK BOE/D consists of 82% oil, 8% Natural Gas Liquid and 10% Natural Gas
    I put the oil hedge number for the quarter in parenthesis so one would not confuse or interpret the data wrong.
    You have shown the board that you don't belong on an oil stock board making and or implying things where you have no background. The numbers present are pristine and direct from the company.
    Floyd does his best to maximize the companies hedges that includes the shut-in of wells, and drilling while rates are favorable.

    Sentiment: Buy

  • Reply to

    Monster well info released

    by zoom_bee May 21, 2015 8:20 PM
    zoom_bee zoom_bee May 23, 2015 9:11 AM Flag

    People read data based upon their position. Doing my best to report true production numbers as you see the oil and gas number that was reported to the state as "sold". The IP rate is a calculated number that is usually taken on the 5th or 6th day on a restricted choke with most of the FRAC water already removed. That number usually has flared gas. The production numbers do not have the vented or flared gas as HK has hooked the gas lines up and sells it through a production point.

    Sentiment: Buy

  • Reply to

    Monster well info released

    by zoom_bee May 21, 2015 8:20 PM
    zoom_bee zoom_bee May 23, 2015 7:12 PM Flag

    I've provided you each HK well and current well data in an Excel spread sheet and KML mapping file. Proven access to every state information and data and a demonstrated PE in this discipline since 1975 with engineering degrees and certification in this field. The data presented is exact and proven. I'll respond your to your useless, weak and misread responses until youre off this board.

    Sentiment: Buy

  • Reply to

    Monster well info released

    by zoom_bee May 21, 2015 8:20 PM
    zoom_bee zoom_bee May 23, 2015 7:30 PM Flag

    THX. Senior moment on a board member who doesn't get it and try's to refute data without accredation.
    THX for the moral booster.

    Sentiment: Buy

BDE
9.02-0.09(-0.99%)2:01 PMEDT