RE:RE:RE:RE:RE:RE:RE:RE:RE:Long Run vs. Spartan Energy Here is what the 2014 Annual Report says about Redwater. I don't know why the discrepancy but it is quite significant:
"In the Redwater area, located near Edmonton, Alberta, development is focused on the Viking oil resource play. In 2014, Long Run invested $89.8 million, drilling 44.0 net wells with a 100% success rate. Production averaged 8,142 Boe/d (68% oil and NGLs). No wells are planned to be drilled in the first half of 2015. The Company operates, transports, and processes substantially all of its production within the Redwater area."
Average Production by Area 2014
Redwater Oil 5,369 bbl/d
NGL 204 boe/d
NG 15,411 MCF/d
Total BOEs 8,142 boe/d
If Redwater was sold on the basis of the above, it would not only solve the debt problem, but also the dire working capital deficit too.
Interestingly, they invested $90 million capex into Redwater in 2014, but suddenly no investment in it for the first half of 2015. Sounds to me like it's on the block for sale.
Definitely I would be the first to congratulate management if they are going this direction.