The lower pressure in Fiesta may account for the results so far. Page 16 of the November Approach presentation has a good comparison of A and B wells suggesting a lower IP but maintaing to a 450 EUR type curve.
Ross Craft from Approach also made these comments in November at a conference.They give me some comfort that we may still have a chance.
"As you can see we have wells that are way above that, we have wells below that. So when I tell you 450 number that's a statistical number. So if you do 50 wells you know your average is going to be in the 450 range. We’ve got wells that are going to do 600; we’ve got wells that are going to do 200, that's the nature of the shale play, its variable."
"Well, the chemicals, the breakers, the surfactants will not do a whole lot for your overall decline rate, but what they will do and this is a good question and a lot of people get caught up on IPs. IPs as an engineer mean nothing to me. It just shows how effective I was at fracing the well at that point in time. Its our immediate point process. What I look for is 30 day, 60 day, 90 day, 120 days, so on and so forth because that's what tells me whether I'm making money or not."
MPO Price at posting:
28.0¢ Sentiment: Hold Disclosure: Held
