I think they are good results but don't know how the market will react. You will still be in front if you buy now but i suspect many will sell on the spike and buy back in for a long term hold. You can see that gene had a drop off to 948boepd 24 hours later from the 5 stages. The good thing about these wells and the new fraccing is the payback is a short time. Have a look at the Bexp presentation and the drop off rates of the bakken. The good thing about the bakken is the oil is uniform throughout and they are only draining a strip only about 2(60acres) blocks wide in a 1 square mile spacing unit. They are going to a 320 acre spacing unit and they will probably go to 160. Even bexp are using figures of 600 thousand barrels per well in their presentation. It's still a buy imo but hope people aren't buying expecting 2000bopd production.
SSN Price at posting:
3.8¢ Sentiment: Buy Disclosure: Not Held