Another thought. Rex 4 is going to be the first of the 4 Rexes that will be put on production immediately after fracking and kept in production churning out money.
Rex 1 was a wildcat and the first set of facilities had to be constructed before the well could be allowed to produce.
Rex 2 was put on production sort of straight away but Rex 1 and 2 were producing to much gas to be able to stay in Production.
So a pipeline to facilitate gas sales had to be constructed to allow full oil production to continue. It being illegal to flare gas.
Then Rex 3 was drilled with a longer horizontal than Rex 1 and 2 and totally overloaded the facilities. So a new set of facilities had to be built, about 8 times the capacity of the original ones.
The rest was a nightmare. Early 2020 a survere cold weather event shut everything down, this was in January 2020. Within the next couple of months barely before all three wells were in production and the team had got over the teething problems with the new enlarged facilities the price of oil crashed. All production ceased. All the wells have had pathetic production since.
How Rex 4 preforms is going to be very interesting. I'm expecting a big good surprise. But we will have to wait and see.
Saltbus
WBE Price at posting:
0.2¢ Sentiment: Buy Disclosure: Held
