I have done a bit of research on fracturing and the following is a summary of what I found out. If anyone with more knowledge can correct me please assist as the more information we get and the less guessing the better. The company ann. seemed to emphasis the fact that 11800 barrels of water was used, a lot more than they expected, and research shows this is a good sign that the fracturing was a big success as the more water the longer and more intense and greater fracturing occurred. The water or fluid used is thick and oil & gas doesn?t flow through it, it has to be flushed out to start flows, so any early sign in the extraction is a good. The company must also feel the same as they purchased a pump pre. Fracturing and only used a portable generator, but now are getting power lines to the site, I doubt if they would waste that kind of money to operate a pump for a couple of months if they were not confident in success. This is a short summary and my thoughts only from my research.
TEX Price at posting:
6.7¢ Sentiment: ST Buy Disclosure: Held
