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  • Athlon Energy: After A Solid Q2, Here's Why I'm Bullish On This Oil & Gas Play [View article]
    Heather,
    Once again you are bringing attention to smaller operators who are showing excellent growth and potential. I was fortunate enough to establish a position at the time of the IPO so I have seen enough upside to weather the ups and downs of the market. I have a modest correction to share. You say that Athlon has 23,000 net acres. That is way low. Here are their "vital statistics" regarding their acreage from their most recent presentation:

    99% operated, 95% avg WI, and 73% avg NRI
    TP Reserves: 58% oil; 23% NGL; 19% natural gas
    R/P of ~20 years
    164,000 gross (134,000 net) acres
    Midland, Martin & Other – 61,000 net acres Howard – 57,000 net acres
    Glasscock – 16,000 net acres
    Added ~36,000 net acres since August IPO

    BTW, I'd also like to recommend that folks listen to a couple of the ATHL conference calls to get a feel for the company. Personally I have found them to be very refreshing in terms of openness, frankness and detail. The CEO basically "takes stage" for the 1st 1/3 of the call and just talks about how things are going. I like the approach and others may too.
    Aug 14, 2014. 07:56 PM | 3 Likes Like |Link to Comment
  • East Texas Eagle Ford Update: YTD Permit Activity And Outlook [View article]
    User,
    Excellent information. Thanks for the updated information on EOGs Zeus wells. I plotted Zeus 1H on the map of Leon, Madison & Grimes counties in the article and according to the plat map filed by EOG the surface location of Zeus 2H is 125' from Zeus 1H (so on the same pad) but the well bore tracks parallel to the 1H 700' apart. I don't think that this could really be a 40-acre test since the field rules for the Aquila Vado (Eagleford) field require 160-acre spacing, except under limited circumstances much too technical and boring to detail here. But if you are a glutton for punishment, Google up "Aguila Vado (Eagleford) field rules" and you can read the permanent field rules for the field that were issued in 2012. My reading of the rules is that you can do a 40-acre well but only if its the last well on the lease and on "left-over" acreage. If you come across other useful information on EOG activity in Madison or Leon county please post it. It would be terrific for the play if EOG determined it was worthwhile to expand its presence.
    Aug 12, 2014. 07:43 PM | Likes Like |Link to Comment
  • East Texas Eagle Ford Update: YTD Permit Activity And Outlook [View article]
    Thanks for reading. And Earthstone Energy (NYSEMKT:ESTE) which I mention in the article reported earnings this morning. I'd keep an eye on this one (starting with reading any SEC filings about the merger with Oak Valley) for potential investment opportunity. The CEO of the merged company, Frank Lodzinski, has a good reputation for building up companies.
    Aug 12, 2014. 09:37 AM | Likes Like |Link to Comment
  • East Texas Eagle Ford Update: YTD Permit Activity And Outlook [View article]
    Thanks. Because of the unfortunate delay in getting the article posted (due to backlog, I guess) the article was posted AFTER the EVEP conference call in which they gave the expected update on the Unger well in Lee County. Looks like the well was completed a couple of weeks ago and IP'd at 482 boe on a restricted (15/64) choke. It continues to flow at over 400 barrels a day. So it's too early to declare the well a success but at least its not a failure.
    Aug 11, 2014. 09:51 PM | Likes Like |Link to Comment
  • East Texas Eagle Ford Update: Heads Up, Here Comes Lee County! [View article]
    jfsmart,
    thanks for the additional research. Interesting. From what I read Venado wasn't adopting "simulfrac" across the board and these two wells were probably a test. Perhaps the technique has improved since 2009 and they're giving it a go here to see what happens. All the more reason to keep track with what happens with Venado in Lee County over the next 6 months. I believe that when Venado was talking that its "new and improved" completion design yielding EURs of more than 400Mboe they were talking about the simulfraced wells. If those two wells end up being more flash than substance then folks will probably get less excited about Lee.
    Jun 11, 2014. 10:21 PM | Likes Like |Link to Comment
  • East Texas Eagle Ford Update: Heads Up, Here Comes Lee County! [View article]
    jfsmart,
    Thanks for reading and your comment. "Simulfracture" is not a new process and Continental Resources was doing some back in 2009 in the Bakken, apparently. From what I understand, by doing "simulfracture"you can concentrate the horsepower behind the frac into a small area which (I presume) fractures more rock between the wellbores to the advantage of both wells.
    Jun 11, 2014. 04:51 PM | Likes Like |Link to Comment
  • East Texas Eagle Ford Update: Heads Up, Here Comes Lee County! [View article]
    Thank you for your comment. It turned out to be a very interesting project. Now on to Fayette County!!!
    Jun 11, 2014. 04:42 PM | Likes Like |Link to Comment
  • Quiet Period Expiration For Parsley Energy Offers New Buying Opportunity [View article]
    Don, thank you for a nice run down on Parsley Energy. I initiated a position on IPO day SOLELY on the basis of family pedigree which is not a real smart way to buy stocks, but so far so good. I look forward to reading your articles in the future about PE so I can learn more about its prospects.
    Jun 6, 2014. 11:23 AM | 1 Like Like |Link to Comment
  • Halcón Resources: Impressive Downdip Test Results At El Halcón [View article]
    Richard, thank you for another excellent update on Halcon and what is happening in East Texas. Here are a couple of added points that may be of interest. Back in 2008 Apache did several vertical recompletions just to the northeast of Somerville (in Burleson) that ended up being completed as gas/condensate wells. After that very little else was done in the area until Halcon's Stifflemire well. That is one reason why Stifflemire is such an important well. Stifflemire is very close to Comstock's permitted Curington 'A' 1H well (only 1.5 miles down-dip), whereas Comstock's permitted Mach 'A' 1H well is very close to those Apache gas/condensate wells.
    Right now I see a verified oil-window trend line extending from Apache's McCullough-Wineman EF 2H (30.64573,-96.20341), Apache's Hullabaloo 2H (30.551044,-96.4149100), Apache’s Leone 2H (30.535613,-96.362791) and Halcon's Stifflemire (30.412049,-96.637455) with that line probably moving down-dip as more wells [e.g. Halcon's Kaiser 2H (30.383584,-96.657566), Apache's Rae 1H (30.610819,-96.257239) and Comstock’s Henry ‘A’ 1H (30.447132, -96.489921)] come on line. Right now my opinion is that the gas/condensate window runs on a trend on the north side of Somerville Lake. We shall see, of course.
    Jun 6, 2014. 11:08 AM | Likes Like |Link to Comment
  • Apache: On Track To Become The Dominant Player In The East Texas Eagle Ford [View article]
    Thanks for your comment. One nice thing about the ETEF for APA (besides the nice size acreage block) is that most, if not all, is HBP with EverVest/EVEP Austin Chalk wells. This means that APA could easily dial back its program if oil dips below $90. Right now with WTI over $100 they are going back into the play with renewed gusto. Of course, having a 50% partner helps too.
    May 23, 2014. 08:42 PM | Likes Like |Link to Comment
  • Apache: On Track To Become The Dominant Player In The East Texas Eagle Ford [View article]
    Correction submitted. Thanks.
    May 15, 2014. 12:47 PM | 1 Like Like |Link to Comment
  • KOG Reports Weather Related Miss; Guides Lower; Long-Term Story Strong [View article]
    Steve, I see you picked up on Whiting’s new completion method using
    coiled tubing (CT) conveyed fracture stimulation. Whiting’s test showed an IP rate 73% higher (1,607 boepd) than the initial well in the unit (open annulus/sliding sleeve) and 40% higher than the 2 cemented liner wells. According to Whiting: “This new completion design better isolates the perforations to more effectively fracture the reservoir.” I’m wondering if we’re witnessing the beginning of a whole new round of completion design upgrades in the Bakken. The fact that this test took place over in Montana is going to raise some eyebrows.... in a good way.
    May 2, 2014. 05:11 PM | 3 Likes Like |Link to Comment
  • Halcon Resources: Strong Read-Across From Goodrich's TMS Result [View article]
    Richard, another very good and timely article about one of my favorite plays. The news this morning from Goodrich was very welcome considering all the issues with their wells over the past several months. Some in the investment community took these difficulties as a sign that the TMS was going to be "too difficult" and "not commercial". But others have recognized that eventually the engineers were going to figure it out and the play would make money. The Blades well is good evidence that they are "breaking the code". And the fact that this well is in the acreage GDP acquired from Devon speaks volumes on Devon's poor results. Better operators = better results.

    Anyway, the Seeking Alpha community and other investors are lucky to have you as a resource. So thank you.
    Apr 14, 2014. 06:36 PM | 3 Likes Like |Link to Comment
  • Halcón Resources Reveals Its Recipe For Success In The TMS [View article]
    Well I hope its not the same geologist that steered them to Western Louisiana first.... or to Utica.
    Apr 10, 2014. 05:27 PM | 1 Like Like |Link to Comment
  • Apache Emerges As The Most Active Driller In East Texas Eagle Ford - Read-Across To Halcon, Clayton Williams And Comstock [View article]
    Another terrific, informative article on the development of the East Texas Eagle Ford.
    Apr 3, 2014. 09:38 PM | Likes Like |Link to Comment
COMMENTS STATS
61 Comments
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