EIA publish their updated short term outlook today. Be interesting to see how they've revised their projections.
Analysts will almost certainly take note of this.
Would like to see Eric announce the resolution of the bottleneck issues.
Yes, the decline in oil price was out if his control, but surely he looked at capacity constraints based on the higher rates of production from the initial wells which were released on multiple occasions.
The fact that we are missing out on marginal EBITDA at these higher oil prices is disgusting, and I definitely think Eric is at fault. And given this first occured in quarter ending December 2018, it really should have been resolved then.
Surely a CEO realises that producing above capacity is not commercial. In all seriousness, how does a CEO miss this?
In the quarterly call he mentioned it would be resolved mid April - lets hope he had the decency to rectify it on time.
By my calcs we are at least $5-$7M behind - that's 1 free additional well we could have had.
Pull your finger out Eric
SEA Price at posting:
43.5¢ Sentiment: Buy Disclosure: Held
