Well completion reports and production data is available.
Beckler 7 (Started production May 2021) June CY21 Avg gas rate 3.7mmscfd Sept 2023 Avg gas rate 0.9 mmscfd Total gas produced to Sep 2023 =1.6 Bcf
Beckler 8 (Started production May 2022) May CY22 Avg gas rate 5 mmscfd Sept 2023 Avg gas rate 2.05 mmscfd Total gas produced to Sep 2023 =1.57 bcf
This is from the Patch, which is not yet perforated in Odin 1...gives an indication that Odin 1 will flow conventionally at reasonable rates upon a zone change...and O3, if drilled in the same manner could vastly outperform O1. O2 is a commitment well and it looks like they just have to drill the same way as O1 in order to get it done in time to meet commitments.I don't think there is any faith lost....my gut feel is that they are looking at a different approach rather than drilling a potentially lower glowing well just for short term cashflow. MEL has lower overheads and Bridgeport has no real financial constraints, but Vintage needs more cashflow to cover expenses, let alone grow. IMHO not a faith thing, just a consequence of different needs and strategies.
VEN Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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