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Eagle Energy Inc EGRGF

Energy
Eagle Energy Inc is a Canadian company operating in the Energy Sector. The company is engaged in the acquisition, exploration, development and sale oil & gas and hydrocarbons with operations in Alberta, Canada and Texas, United States. While derives majority of its revenue from Canadian operations.


EXPM:EGRGF - Post by User

Eagle Energy Inc > Asset Disposition
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Comment by downtozeroon Jul 20, 2018 4:33pm
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Post# 28346838

RE:RE:Asset Disposition

RE:RE:Asset DispositionLast year, Twining had the highest investment in Eagle's drilled wells. In 2017 Eagle spent $6M on new wells at Twining with reported only 5% decline. Eagle bumped up the projected well count from 50 to 80 wells. Great news story!

Less than 12 months later, Eagle has sold Twining for $14M. Eagle reports the decline rate is 12%, making us believe they are getting rid of bad property. That's only $8M above what they just invested in wells!! 

I wonder why they needed to dump Twining so fast and at such a low value?? 

dt0
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