Over reaction for sure and in my opinion could bounce well tomorrow or coming days. Market isn't bearing in mind these are verticals only. Horizontals can have you-name-it amount of stages along the horizontal drill. So right now they have 8bopd from one section of a vertical. Say they now drill a horizontal and go with 20 stages, that's 8 bopd per stage potentially, so 160bopd for horizontal. Not bad for niobrara. While you can't exactly extrapolate like that, it's not a bad way. I really haven't seen that many successful verticals from the niobrara, but horizontals are certainly rewarding.
ETE Price at posting:
9.5¢ Sentiment: LT Buy Disclosure: Held