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RMP ENERGY INC T.RMP

"Iron Bridge Resources Inc, formerly RMP Energy Inc is a crude oil and natural gas company engaged in the exploration for, development and production of natural gas, crude oil and natural gas liquids in Western Canada."


TSX:RMP - Post by User

Comment by ditchdigger251on Oct 31, 2016 12:35am
130 Views
Post# 25404451

RE:RE:RE:RE:RMP and the debt overhang...

RE:RE:RE:RE:RMP and the debt overhang...Maybe, maybe not.  RMP's Gold Creek land is located in less mature rock further east into the oil window.  The cleanup period on the 3-22 well was limited - Hz liquids rich Montney wells that cleanup much longer - say over a month often show significantly higher LGR's in the production with those higher LGR's remaining somewhat stable.  But even if free liquids don't hit 100 bbls/mmcf there's still gas liquids (C3/C4/C5+) that will be in the 30 to 50 bbl/mmcf range with the components being roughly split evenly between propane, butane and pentanes plus.  The overall value for the gas liquids won't be the same as oil but I could see 75% on a weighted basis. 

There's other things to take into account as well such as improving the well completion to increase rates.  I think the glass here is half full - not empty.  Tons of value to prove up I think.  But the proof will be in the produciton.  It will be great to see RMP get these wells drilled and producing for a few months.
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