Wow!! Total mmcf/day declines in ProductionLast July 30th, 2024 new released stated a total conbined flow of 7.3mmcf/day. this latest new release of today states total combined gas flowing of 4.6mmcf/day. The math here suggests that the flow rates on average combined total has declined. No mention of those velocity strings being installed and when, but certainly not currently.
Interesting they issue more massive options of 8.8 million to themselves...and CEO sold shares last on that August 9th. Gas certainly flowing , but at much lower flow rates then expected and puts more doubt on this block achieving those higher levels anticipated and talked about every time by CEO. Velocity strings are vital to sustain these current rates at least, and hope they are installed ASAP before those water load issues arise again. They should of given a time line for their installation. Why they didn't is a question mark..Markets certainly have not responsed to this news and remain FLAT.