RE:Yes i'm now bearish on sgy becausesoundandfury wrote: After being invested in sgy for many years i learned that they can't grow production........they buy barrels through aquisitions and they drill and their production keeps declineing..........in 2018 they were gonna be a 23,000 bpd company............and yet after spending 480 million since then including the astra deal here we are 14,000 bpd........paul instead of growing the company is shrinking it and not just by a little by alot
Production in Q2/21 averaged 15,132 boe per day, down from Q1/21 production levels of 16,582 boe per day. This decrease was primarily a result due to the 2,700 boe per day of production that was sold for gross proceeds of $106 million on March 25, 2021. This decrease in production has now been fully offset by the Company’s successful 28 (net) well 1H/21 drilling program, which added approximately 2,675 boe per day in Q2/21 for a total “all-in” onstream cost of $35 million ($13,080 per flowing boe). Production in Q2/21 was impacted by approximately 650 boepd of third-party outages and plant turnarounds. 4100 boe will be on line with SGY production if deal get passed by Augest 18, 2021, SGY is speculating almost 20000 boe by end of Q3. 20000 boes will be almost for 1.5 monthes before release of Q3. Thinking about Q3 results will definitely make you bullish on SGY.