GREY:VFGGF - Post by User
Comment by
ofirmeon Jan 01, 2014 5:53am
282 Views
Post# 22050528
RE:Hedges
RE:HedgesI believe that pinecrest had about 83-84 drills over the last 3 years. they used in their 8 projects
only about 49 (5 x 5 + 3 x 8). they already applied for 4 more projects next year.
Lets hope they can do some conversions after 1 year or before end of year 2.
Bottom line is that they do not need high capex next year.
They need to be able to show the concept works and then they could leverage themselves based
on historical results.
As of 9/30 only three projects were fully implemented and already responding. q4 should see
two more responding (from july) only a sliver of the last three that started in october (first down
spaced 8 per section). only one well should be completed in q4 and there are only two fresh
wells from q3.