The thing that irks me the most about these types of reports is that they state initial flows, but then annualise that as profit.
eg even assuming the approx 12MMcfe/d the drop off of these wells are around 80% by the end of the first year, yet the repost implies $23M p/a, and leaves it open ended so the avg punter may think they may get revenues of this amount for a number of years.
I don't hold AZZ so I don't know if its over / undervalued, but hold a similar play in ADI which is also fraccing now.
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