GREY:TBTEF - Post by User
Comment by
cenderon Aug 07, 2014 8:35pm
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Post# 22820395
RE:RE:Haywood
RE:RE:Haywood"Are we to believe that things are looking good with the up coming quarterly report? Are there more struggles ahead ? Is this a buy,sell or hold?
Is there any reason to think one way or the other ??"
Based on the amount of well licenses they have pulled over the last 6 months , over 65 by my count , they are extremely busy drilling almost all horizontal right now and if those are coming in at average IP 90 rates for the area (60-80 b/day) then they should be close to 22,000 b/day if the worst of the vertical declines are behind us . The last large group of verticals drilled(some high viscosity,some low) were between 18 - 10 months ago , the steep drop in IP rates on those high viscosity verts. happen at about the 10 month - 16 month time frame so we may still see a bit more erosion that way but we are near the end .