RE:New land for PEY at approx. $391/ac during Q2Yes, yes, and yes agree.
I suspect prices will be improving all through the fall, I mean just look at
NYMEX today, but can PEY make any dough from it doing their basis deal
with takeaway and no risk to transport.
It is just going to look better and better.
Has anyone determined what five rigs all year are going to do in numbers of wells?
ARe drillers even going to build new rigs outside of their regular customers? why spend hundreds of millions and then have the contracts fall off. Same with the drillers as in past
days and end up with your stock tanking.
You can see a day like today how weak things can be very quickly off a cliff.
Trouble is we don't have the institutionals like we used to, we don't have the brokers as most are with discounters, don't have the research like past days, don't have the universities, Pensions etc. so when the algos decide it is time, boom. No matter how good your firm is.
Looking for a double in accounts by March or so.