RE:RE:RE:RE:RE:Good momentum but a question about Non-Operated lands.You're right, I checked for the permits for the 4 SDE wells. SPARTAN ELMWORTH PAD SITE 7-34-69-5. I actually own more SDE than PIPE at the moment after selling some PIPE at 1.90. If I'd known it'd jump over $2 the next day I may have done the opposite: PIPE is 50% marginable for me now above $2 but SDE isn't marginable as they're on the venture. Not to get off topic. PIPE is a simple story: they're not buying or selling they're just drilling up their acreage in a measured, now fully funded way. SDE is cheap but has cash on the balance sheet and likely to make more acquisitions soon, in addition to resuming drilling the BXE and Inception lands. THey're 70% gas and 25% NGLs so it's a different story
The buy is well timed in that we're at a lull in the newsflow and probably won't get an operational update for a while, but a good sign that they're not suddenly turning up dusters.
They have years of inventory just on that western gathering system. With multiple benches and the buffer provided by $3 AECO and $70 WTI