RE:RE:RE:RE:10 years "Tier 1" acreage/wells."They say that the Eagle Ford has only produced 8 to 10% of the OOIP (original oil in place) using old technology. They now reckon that they can get it up to 30% using new technology. Viola, depleted field now becomes Tier 1. Why do people think that bte bought Ranger? Why do people think that Exxon just spent $60 billion to buy Pioneer? Anyway my vote is to spend opetating income to "drill baby drill" in order to increase reserves and total assets and screw the fcf metrics."
I can't say that I agree with that stance.. "drill baby drill" is what colapsed the energy industry only a few years back by over producing.. that's why most, if not all management has decided to maintain production aside from a few percentage point increases, clean up the balance sheets, cut capex and costs, and make these companies free cash flow machines.. and I agree.. its time shareholders got paid.. thankyou!