RE:RE:Capex q1now you are just starting to make stuff up Kavern.
The savings are in the drilling because they have changed their approach. The oilfield service group hasn't magically started saving more money than they did 6 months ago. This was telegraphed in the previous update.
2023 Operations Review
- Yangarra continued to refine the Company's drilling approach resulting in a dramatic reduction in drilling times and drilling costs.
Nor is it a simple matter of adding up what they spent this quarter and coming up with a cost per drill or you wouldnt have accounts payable and Accrued Liabilities of $36 million at the end of the quarter.
Just because you captilize an expense or move it to the oilfield service group doesn't mean the company is more profitable or drilling is cheaper.
With all the ranting about the new oil wells they only managed to increase liquids by about 400 barrels per day. Better than nothing but they have a long way to go before credibility is restored when production drops by 1240 boe's year on year.
There is no mention of production behind pipe or losses due to weather.
The more I look at it the worse the quarter looks to me.