Post by
margaritaman on Nov 20, 2024 10:24am
Not Much Drilling
With a plan to bring up to 8 new wells on line this quarter they had better get busy. One possibility is they are able to maintain production at ~11,000 boe/d by bringing on the wells they had drilled in Q3 and the one spudded in early October. Then again this could just be wishful thinking on my part..
Comment by
Helloworld on Nov 20, 2024 12:39pm
The 8 wells they will bring online are all already drilled. They have 4 Chambers (which technically came online late Q3 but I think they are assuming Q4), 1 glauc, 1 willy, and 2 Cheddar that have been drilled. They would then have 1 additional Chambers DUC well for Q1 2025. They don't really need to drill again until Q1 2025 if they don't want to..
Comment by
margaritaman on Nov 20, 2024 12:46pm
Is wasn't counting the 4 chambers as coming on line in Q4 as they were producing for part of September. Thanks for clarifying.
Comment by
Helloworld on Nov 20, 2024 1:04pm
Only rationale explanation. Otherwise no way for them to drill and complete with no current rig drilling. Gas prices climbing, FCF this quarter should be good. Hopefully capex around 10 million or less, and can get debt close to 90 million or so. Would set up ROC in Q2 next year. Now if only they could get a valuation above Petrus...