At the moment, the company has two priorities,money and acres. Nothing else should be in the current plan ! IMHO I think in a proactive company with oil producing and needing to keep up their production in order to prevent their decline curve from dropping by keeping up their drilling of new well's,hence consistantly keeping up their API's is the norm.
Why are they, like i said wasting money,time,resources going through the process of drill API's ?? Nut's ! absolute nut's!The ann you speak of SMD only tells me that they are wasting hard to get $$ and time by drilling "scientific" wells too find out if the "Clearfork" can be a Horizontal producer.
In my honest opinion and, knowing the way this company has been run the last two years I feel this is a sidetrack ?
"#6 Well
The next vertical well location has been staked and plated with the permitting process to start shortly. This well will drill down through the Wolfcamp interval. In addition, testing is being planned for the Clearfork interval which is above the Sprayberry interval. The objective is to examine and test a zone in the Clearfork which could be a candidate for horizontal drilling.
GGP Price at posting:
5.0¢ Sentiment: None Disclosure: Not Held