EXPM:EGRGF - Post by User
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