Not sure if it is Shale Oilers as such, otherwise I would have thought BHP would not be getting into the game big time. But it does take constant drilling to keep production up and when you are not the operator then it is out of your control such as EOG changing permits and other delay's. When you promise something (2,000BOPED) and deliver half (1,000BOPED) then you get punished and need to win back investors and get the growth story moving again.
It would help if the company showed smaller increases rather than up and down results until some larger % wells came on board IMO.
But going by reserves reports if, and a big if, the Niobrara and say Miss. Lime come good, given we are valued below P1 reserves or a fair value for even the Bakken, the re rate could be quite quick. It depends if you think they have the goods. IMO the base has been built, given the current drilling program you would think 1,000BOPED at least would be maintainable in the ST.
I am keen on the Noble Well as you are correct IMO that the Niobrara has not been factored into the SP at present, not just 11% WI but the 3.5% ORRI and proving of what we have. That is the nearest ST SP stimulator I can see at present to beat the bot.
Just my thoughts, waiting.
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