RE:RE:RE:Advantage Powerpoint Slide 20Let's see the Q3 #s. kelt added 5 Oak wells in Q1/Q2. If those initial oil prodn rates are so high, they should at least add 2,000 bpd in Q3. Plus all 3rd party plants at Wembley operating at capacity. So oil prodn in Q3 should be way up.
Its obvious that when you invest so much capex in assets that produce 90% natural gas and C2-C4 NGLs, commodities that only generated $8.35 and $11.68 of field netback in 2023 respectively (when NG was ~$3), you can't expect kudos when the netback on the oil and condensate is 8x that.
And to add insult to injury, you don't hedge the natural gas, prices plunge for obvious reasons (in hindsight for amateurs perhaps but it shouldn't be for professionals in the natural gas hedging and marketing business).
Kelt obviously knows what's going on but we don't. Its ok to be terse when results are awesome. Its not when results are poor.
Pablo the Kelt bagholder.