Bowood Energy Inc V.BWD

New well just north of Kipp

[chizled]

Torc moved its Rig in today, to 13-10-10-23w4 . Torc being a private company , is their anyway to confirm thier Ip rates on wells down the road ? I have heard very positive rumors on some of their wells .

[nlr2]

I believe that after a year they become public knowledge. I think in Legacy's report yesterday they must have been talking about the success of Torc and Argosy in there immediate area. I would die to know how much Torc is paying per well. It can't be 12 million, thats for sure.

[CravenRaven101]

$12MM seems like alot for a single well...IF you are not used to tossing around those numbers...or are unfamiliar with the logistics... if Y'all ever get a chance you would do yourself a favour this summer by jumping in the RV and taking a drive across the prairie to see HOW that money is spent with your own two eyes...

[rigrat2]

12 Million is high compared to others in the area. Should be able to do 1 of these wells for about 6 to 9 million.

[CravenRaven101]

given the depth and length of the Hz leg... AND the complexity of the completion... NOT to mention the exploratory nature of these preliminary wells...I dare say that I would prefer the companies involved NOT contract these holes to "Joe's drilling and completions" ... even at rigrat's metrics... these wells are far to important to hand to low ball bidders...

[nlr2]

I don't think Torc is using random low ball contractors. Haha. Saxon for drilling then I would have to assume one of Calfrac, Sanjel, Canyon or Trican for completion. We used Excalibur for the first well and they were probably not the highest bid. Haha. Torc has probably just decided not to do all the science and strat work that we have and instead just jumped right into development. I guess

[CravenRaven101]

The question begs... could the same results be accomplished by drilling a series of Vert wells for the same amount of cash? OR is a data room holding "the science" going ot generate a better asking price. When a fella is trying ot sell a car... is he going to get more money for a vehicle he's run through the spray and wash to the tune of $20.00 OR would he get a better price if he

[Sonny7]

"Joe"s Drilling and Completions"? Heaven Forbid!! Legacy wouldn't do that to us, would they?.... I'll agree that if well costs are at $12mm each, that is excessive and I see the completions side of that as taking the costs too high. A rig is a rig but then each drilling contractor has it's own personality and within their fleet of rigs, each rig in turn will also have a

[Sonny7]

Lithography? NO.............LITHOLOGY!!

[sureshotz]

Good post Sonny. Pretty well sums it up 

[Sonny7]

Thanx for that reply, sureshotz. Good Luck to you, Pard!   Never Worry, we'll gain a nickel on this one day!!.............lol

[Pandora]

"A whole nickel one day"  ..... so we can count on getting back to 17 cents?

[Sonny7]

Is there anyone here with any doubt?   The asset is there and needs an operator with a correct procedure to get it. To see it at 17 cents is not optimistic enough. My opinion  

[Prof_JD]

no one here has a doubt of the longterm success of BWD paper. the last one to have doubts of it was booted out of SH and has not returned . i must go eat my geese potato soup now.... dont bother asking its one of my delicacies. jd the prof

[chizled]

Considering I have heard rumors that more than one company have recently  hit wells over 1000 BOPD in the area .  It wouldn't take much for a few of those wells to be worth more than the current market cap of BWD . Seeing how   there is  barely any land left in the area and what is left is selling for a premium. Then you have to buy out current players in the area

[nlr2]

I think everyone needs more data points. The wells that have come off confedential so far, from my understanding, have been uncompelling. This is not shocking as the inital batch was bound to be worse. I think everyone involved her is down some and really unless they need to offset some cap gains might as well stay at this point. I think around the new year as more and more wells come off

[Sonny7]

Agreed!........Spring Coulee might not exactly be a dog either...??  No news brings a lack of confidence. My brain has been doing wheelies with the imagination department with no news.

[baird66]

From Accumap, so far the Spring Coulee well has produced 1751 bbls of oil. The Kipp well has produced 3640 bbls. That was up to the end of January. On a calendar day, that is 89 bopd.

[Sonny7]

At face value, that Accumap piece of news is enough to make a body want to puke........BUT,   News was released on January 23, 2012,  to show that the Kipp well was producing and had not yet stabilized after frac clean up, and after making 5000 bbl of light oil. My initial assessment of that report is that it can't have any real meaning.