Phew this hurts Don’t see how they drill another well on their own - why spend another $30M on a 1 Mmscfd well? It’ll need to be a horizontal or something vastly different which will be significantly more expensive.
The only hope is a JV partner sees something promising in the well results and/or resource. We may now be most reliant on Omega’s results which should be public, and Shell’s which will be more opaque. Both of them drilling horizontals. Can’t see EXR drilling another well into this lease on their own from here unfortunately.
More explanation of results particularly regarding Lorelle would be useful…
EXR Price at posting:
7.5¢ Sentiment: Hold Disclosure: Held
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