Post by
Justforme on Jan 07, 2024 5:18pm
Decent Potential/Poor Execution
Rubellite has been able to drill some decent wells recently but the poor execution and lack of experience at the field level is really hurting the results. This group is mostly made up of people from natural gas operations that are not familar with heavy oil production and the amout of money being spent on workovers, wells being shutin due to too many workovers due to inexperience is brutal. I guess if you hide all the high opex under capex you end up with the high drill/completion costs