The trouble with CHK is that they drilled their Goshen wells without 3D survey. They assumed that it would be similar to the Middle Bakken where you just drill down xx000 ft, go horizontal and bingo up comes the oil. Terry and many others realised a while back that the Niobrara is nothing like the Bakken and that 3D was essential to log the fracture swarms and orientate wells along the correct axis. Defender is a good example, Enterprise is not. I guess big ego's think they know it all and CHK paid the price for being to cocky.
OMR
SSN Price at posting:
9.8¢ Sentiment: LT Buy Disclosure: Held
