Recent comparison with Approach on August 6th earnings call transcript looks favourable
"During the second quarter, we drilled two pilot wells in Pangea West targeting the Wolfcamp “A”. These two wells although early in the flow back are very encouraging and will be instrumental in transforming the “A” bench from deposit stage to development stage. The 6601H is currently producing 461 BOE per day, made up of 84% of oil and 93% liquids.This well has only recovered approximately 17% of the 248,000 barrels of frac fluid we pumped. Similarly, the 6602H well has only recovered approximately 14% of the 252,000 barrels of frac fluid pumped. The 6602H well is currently producing 494 BOEs per day, made up of 80% oil, 91% total liquids. Both wells continued to get stronger as the frac fluid recovery increases. "
MPO Price at posting:
53.5¢ Sentiment: Hold Disclosure: Held
