Drilling Journey budged $34 to $38 million for drilling in 2022. This flow through will obviously be oversubscribed, providing another $12 million to the drilling budget. At $2.5 million per hole, they should be able to punch out 20 to 25 wells this year. Let's say average of 250 boe/d per well, that increases 2022 production by 5000 boe/d.
My back of napkin calculations see's $180 million revenue for the year. That's at $100. It's now $115. Who knows where this cash cow goes. Is $10 is the cards? Maybe.