What I find most interesting is their Cash Margin plot up until Q3'14
Now the buggers have it expressed as $/Mcfe - which is not unusual for companies that produce over 50% gas - so its a throwback to SSN early days. Converting to $/Boe which is multiplying by 6.
Cash Margin for Sep'14 was then $11.58. Going forward my calcs are in the other thread.
The other interesting piece is on page 2 where the 3-yr All-in F&D cost is $5.78/Mcfe. Which is $34.68/Boe. Add that to Operating Expense (LOE+G&A+prod taxes+ finance) to get the Full Cycle cost which I believe TB gave as approx $69.
SSN Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
