Everything is looking pretty good - exit rate was a little over 8k per day with about 1k offline.
In the call Eric seemed to suggest that rather than exit the year at 9k we will average that for the December quarter. EFS should generate good returns even at $80 oil.
Company seems pretty confident that they can continue to expand the leaseholding in Mcmullen over the next 12 months. Lower oil price in the short term might help in the regards as well if they look to farmin with another Co.
And the ML is cashflow positive running one rig!
SEA Price at posting:
$1.17 Sentiment: None Disclosure: Held
