RE: RE: RE: Analyst Coverage
UNX was indeed bought out, but take a look at the technical reports for each of UNX and EOG, and look at the chance of success given for each property. UNX's property was in a better area with higher chance of success, the UNX report gives an average chance of success of just over 16%. Then look at the EOG report and the chance of success is between .1% and 10%, big difference in the drilling business, as if EOG averages out at 5%, then UNX would hit commercial oil or gas 3 times for every time EOG is expected to hit oil or gas. So for UNX 1 successful well for every 6.5 wells drilled, whereas for EOG, 1 success for every 20 wells drilled. When people compare one company to another, they should really look at the two companies and determine what the differences are, as there are always differences.