RE:What can 1 Rig Do? Nope.
they have been drilling for constantly for 1.5 year and production dropped to just over 8000 boe/d and debt ballooned up to 200 million before the drilling and completions finally ramped production back to 10,500 and debt dropping 45 million dollars in the past 6 months.
with late quarter wells being tied in that will make Q3 look stronger. Q2 has always been a MEH quarter for these guys because of break up and typically early summer rains. The wells are usually completed later in the quarter.
Decline rates are pretty high with this one. Like most shale plays, they drill or they die.