GREY:LSTMF - Post by User
Comment by
whitehorn1on Sep 24, 2015 11:34pm
114 Views
Post# 24134290
RE:RE:RE:not allowed to cancel all $250M unsecured notes
RE:RE:RE:not allowed to cancel all $250M unsecured notesLTS will need to replace the lost production and since their an oil company need to drill for oil and gas. Their drilling has been non eventful this year. I'm guessing the drilling expense of the well will be 1/4 to 1/3 less than when oil was at 100 dollars plus. Many service companies to the oil companies are scrambling for work and I'm "sure" those costs were passed on to LTS. I know in the Pembina area where many of the LTS assets are located, a fuel company shut down 7 of their 9 fuel trucks due to lack of business, and with the remaining 2 trucks it is still slow. So, many companies are "desperate" for work and will make deals. It could be a good move drilling that well and my guess one of their better potential drilling areas for maximum production.