Yeah ive read that report to silhoette.
IMO, it applies to purely dry gas producers, and most of the notes seem to be dated to 2009 when the EFS was just starting to be commercially developed.
But it does raise points about declines and well life being overstated by companies. At the moment AUT is tracking ahead of the NSAI decline curve.
marathon may have increased the value of...., page-23
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