OTCPK:MAUXF - Post by User
Comment by
CalifDreamingon Feb 20, 2012 1:52pm
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Post# 19558017
RE: RE: UMU 9
RE: RE: UMU 9 How can anyone be disappointed with (another) boomer well? Yes, "only" 3-4K bodp when in production, but with so many zones (20) and less than a handful being produced, there are many years of steady production from these wells when they are recompleted in different zones.
Compare to the massive declines that get the market so excited in the Bakken plays - spend ~$8MM a well, see 50-70% decline in the first month. And they "enjoy" a significant discount to WTI (which trades at a ~20% discount to Brent - and even bigger discount to Brass River).
Consider Umu 5 - been on production for nearly 3 years - with minimal decline/water. It has produced the equivalent of a dozen Bakken wells (ie, wells that cost ~$100MM to drill/frac/complete). That is unheard of in NA. Of course, that well is why I was so confident they'd have success at U9 - no well drilled on the supposed edge of a field ever performs like that...