Probably worth a listen - sell the gas before drilling it., page-11

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Fitz65

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03/05/25

08:46

Post #: 78903174
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Originally posted by SmallFish991: ↑

I'm going by memory here, but if the objective is to reach 80 wells by EOY 2028 (somebody confirm that was Joel's plan in the webinar) and the activity starts September 2025, that leaves 850 days. That's ~21 days per well...for two rigs.

I could see the rig 'windowed' to Shell to warm it up and wet their appetite for better equipment and enable drilling of their target. It would also buffer TBN/H&P against timing risk on farm-out/sanction of a bigger program.

There's no way these wells get drilled without an additional rig.

This also presumed the EMP allows activity at scale to proceed in an orderly and basically immediate fashion. I saw an article somewhere that the water withdrawal permit had just been extended, that may have been a critical path issue to moving the rig.

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Agreed.

JR - farm-out process H2 25, start drilling early 26, 100 wells.

Aiming to produce 1 bcf/d by 2028-29 when East Coast supply shortage kicks in.

2nd rig essential and plan is in action.

TBN Price at posting: 16.5¢ Sentiment: Buy Disclosure: Held
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Last 17.5¢		Change -0.015(7.89%)		Mkt cap ! $244.8M

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