Taking it with a novelty size salt shaker! I'm not buying but it is intriguing.
Some choices / improvements have been good by RFE - ahead of the pack on lease aquisition - getting spud to spud times down - getting spud to sale times down
Some have IMHO been very poor - excessive cash burn - too much emphasis on HBP and not enough on efficiency and drilling profitable wells - not learning from experienced operators before throwing money at their own wells. They have now educated themselves but its been a costly exercise for holder.
The long laterals will address most of their failings (if they work). Strategically its very sensible. They are not reinventing the wheel. They just need competent workmen on site.
They will need a number of credible results before the market believes them again. They also need to cut rig count and cash burn and use the long laterals to compensate. Not sure is DP is smart enough to do this, or whether hubris will prevail.
RFE Price at posting:
38.7¢ Sentiment: Hold Disclosure: Not Held
