GREY:BNKPF - Post by User
Post by
wittmannon Sep 14, 2017 10:43am
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Post# 26695189
Oil experts?
Oil experts?Lol...can't say I ever knew they existed..especially the ones that predict the prices.Anyway ..don't drive yourselves crazy with napkin calculations.They never work.Too many variables.First of all fracking is exremely expensive and varies in cost district to district.Secondly every well has declined rates..(much worse with fracked wells).That number can change weekly..even daily.
Much has been posted about our last wells output...and how it compares...well thats another useless comparison...e.g...Some Permian basin fracked wells have more than1000bbld output...and others elsewhere as low as 100bbld...so what's the point?.
Again its all to simple to pick numbers and assess value.Impossible actually.Too many missing pieces.
Even days like today...someone might say wow..we are up a decent %...so what?Every oilco I own is up today...and some substantially.
I would like to think that the games played with oil are over...But I doubt it.Too many optimistic false alarms.We need a sustained oil drawdown...over a few weeks or even months.Only then will I be satisfied.