October Cardium ProductionData was released tonight. I plowed through IPO, BNE, YGR, and OBE.
Going to do Petrus, IPCO, and CJ tommorrow.
I not only look at oil and gas rates, I also look at hours on the new wells to get a sense for November's production.
Recap at a high level:
Bonterra has turned it around production wise. Basically since June to Sept Bne had really flat and low production compared to earlier in 2021. Trend wasnt good.
But they sure gained from Sept to Oct. At least some hope.
I take the strike away I had for production for BNE. But problem still is the hedging and debt. IMO BNE would have been so much more investable if they would just have issued 10M shares even at 5.50 or 6 bucks if 7 wasnt doable and also show what the management sucession plan is.
Yangarra October was very interesting. It looks quite encouraging and good from the surface.
Easily the highest oil, ng and total production out of any months in 2021. But my model is going to be least accurate as YGR caught such a break in west ferrier and I think some of that is not 100 percent owned. Those wells saved them in 2021. I get 10200 BOE but I am likely overstating as their top 6 oil wells are all in west ferrier. Easy to see why companies are trying to drill in west ferrier like cenovis and taqa. YGR last 4 wells in west ferrier for each well 240-275 per day on oil alone. My issue is YGR needs to show they can drill something good back in Cheddarville or another spot. But west ferrier will carry them a few Q's.
Obsidian had a strong October. Not counting NGL's, but with just oil and ng we gained 1750 BOE over the month of September.979 on oil and 767 on ng.
One of those bigoray wells, the one drilled into the blueridge really was stellar. Second best well OBE had going in October and did 245 barrels of oil assuming it ran 31 days. Odd part is the only two wells I can not get hours for is bigoray. I think Obsidian had them on confidential status.
It will be nice when we own PROP fully as they really f*cks with my adjust factor. I have 25500 BOE but likely I am likely low as we had so much of our new wells at 100% owned. 25500-25800 BOE or Oct.
And we have a few wells with low hours meaning a later oct tie in and thus a strong nov.
Inplay. Not good. I will post if someone asks.
Hopefully WTI strenghtens next week. Things should turn around soon. In the mean time OBE can collect CF