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Lightstream Resources Ltd. LSTMF

Energy Oil & Gas E&P
"Lightstream Resources Ltd is engaged in the exploration and development of oil and natural gas in Western Canada. Its operating areas include Southeastern Saskatchewan, Central Alberta, and North-Central Alberta."


GREY:LSTMF - Post by User

Lightstream Resources Ltd.
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Comment by chantal2468on Feb 07, 2015 8:45am
157 Views
Post# 23406668

RE:RE:RE:RE:RE:RIG COUNT DROP 87

RE:RE:RE:RE:RE:RIG COUNT DROP 87
80 of the 87 rigs are horizontal (shale).....I realize that you were just exaggerating to make a point but there are not too many wells that produce 5 times as much oil for the same drill cost....average drill cost Bakken is $7 million for 500k recoverable boe.....what you are suggesting is there were $7 million drill holes with 100K boe that were the marginal holes being shelved....that implies a $70 netback to not even breakeven....I highly doubt holes like that were ever drilled
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