FDM 0.00% 1.1¢ freedom oil and gas ltd

Freedom Commences Completion operations, page-18

  1. 4,052 Posts.
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    Fracking was going to take "within 2 weeks", commenced Aug 2oth, so 24 days so far, having lost 2 days due the hurricane. I'd say a few nervous sellers on no news, barring a total stuff up (unlikely with Schlumberger) we should get an announcement any day. Don't expect any meaningful flow rates etc at least for another 30 days after completion. The slow down would no doubt be caused by the flooding etc even though Dimmit County is a long way from the worst hit areas. Head Office is in Houston, Schlumberger would have much of their operations based there too.

    I know drilling contracts are on a daily rate, not sure how fracking contracts work with regard to natural events (hurricanes) causing delays. I'd guess if it's Schlumberger being unable to get some of their equipment to (a dry) site, it'd be at their cost? Share price should go back to where it was (or better) on news the frack job is complete.
 
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