RE:RE:RE:Vertex One revelationRuudinFrance wrote:
BBI gives/has given Stage the possibility to prove their completion system on real wells. I doubt if Stage could have found a major to experiment with it.
Yes, BBI was the guinea pig, and BBI shareholders paid the price with 3 wells that may never be economic because of the botched completion.
What I still don't understand is how they didn't stop after the first well. Stage claimed that they know EXACTLY what is going on as they frac each section of the well. No one has explained how they had no idea what was actually happening, with multiple sleeves not opening at all. How is that possible, and why haven't they come clean and explained how they could totally fck up so badly?
That is really the only thing that still bothers me. Yes, BBI will be compensated, but that puts extreme financial pressure on Stage. Who is bailing them out? It is all just a very unfortunate mess.
I think BBI will get by this major glitch, but we still face restricted processing and takeaway capacity. The future looks bright, but pretty much everything is in the future. JMO