PennyMac Mortgage Investment Trust T.PMT

Primary Symbol: PMT Alternate Symbol(s): PMT.PR.A | PMT.PR.B | PMT.PR.C | PMTU

Real Estate

PennyMac Mortgage Investment Trust is a specialty finance company. The Company invests primarily in mortgage-related assets. The Company conducts all its operations, and makes investments, through PennyMac Operating Partnership, L.P. and its subsidiaries. The Company's segments include credit sensitive strategies, interest rate sensitive strategies, correspondent production, and corporate. The credit sensitive strategies segment represents its investments in credit risk transfer (CRT) arrangements, subordinate mortgage-backed securities (MBS), distressed loans, and real estate. The interest rate sensitive strategies segment represents its investments in MSRs, excess servicing spread (ESS) purchased from PFSI, Agency and senior non-Agency MBS and the related interest rate hedging activities. The Correspondent Production segment serves as an intermediary between lenders and the capital markets by purchasing, pooling and reselling credit quality loans.

NYSE:PMT - Post by User

PennyMac Mortgage Investment Trust

Bullboard Posts

Comment by SigmaKappaon Mar 06, 2014 4:43pm

214 Views

Post# 22291394

RE:RE:RE:RE:RE:RE:$100,000,000 Sales

Perpetual entered into a farm-out agreement on 6,240 acres of Duvernay rights in the Waskahigan area. In early December a horizontal Duvernay test well was spud which is currently awaiting completion. Once the earning terms have been fulfilled, Perpetual will retain a 35 percent working interest in 3,840 gross acres and 100 percent working interest in what remains. Results of this well are expected early in the third quarter of 2014.

35% 3,840 = 35% x 6 sections = 24 gross wells or 8.4 net wells
100% 2,400 acres = 100% x 3.75 sections = 15 wells gross and net

Assume 4 wells per section (for now) about a potential 24 net well program. Not too shabby for a small play.

Bullboard Posts

Changing Europe’s dependency on HREE from China