before they come back 'cap in hand' to the market they'll need to review their cost structure. There is no way i'll be giving them a single dollar until they can dig more holes with less overheads.(I'd imagine Nrth Americans will be the same)
It costs about 5mil to dig one of those long horizontals in the Wolfcamp. We are drilling 5 additional this year which is 25mil project cost. I'd like to know where the additional 45mil is going.
It seems very high compared to project cost especially considering the cash burn we all endured last year.
MPO Price at posting:
57.0¢ Sentiment: Hold Disclosure: Held
