They’ll drill the horizontal, and they’ll frac both as far as I can tell. Nothing in reports to date to suggest otherwise. Porosities in first horizontal and this vertical compare favourably with Eagle Ford and are better than the Bakken. TOCs are high as per old data. Horizontal logging of first well was positive. Nothing seen that suggests that the wells to date haven’t met or exceeded expectations. And even if for some odd reason you don’t believe these reports, any suggestions that they would pull out of drilling the horizontal in Baldwin and allow acreage to revert back to BKP make little sense in light of public reports made to date. And what would be the advantage to them given they exist to test this play, and they have positive logs.
I’m not particularly keen on the new BKP direction nor can I get excited about Elkedra, but see nothing at all negative about drill results to date. It’s clear price would fall on delays, but nothing odd about that in this market in particular.
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