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  • U.S. Energy Is The Way To Play The Buda Oil Discovery [View article]
    In a few months USEG will have production results on an Eagle Ford well with U.S. Enercorp near Carrizo Springs, a new Eagle Ford well on the K.M Ranch lease, and a new Eagle Ford well on the Booth-Tortuga lease drilled by Contango. This is a very material event for this company and it is independent from the near term price action in oil and oil stocks.

    There are over 200 potential drilling positions in the Eagle Ford just on the Contango leases and USEG has a 30% working interest on those leases.


    Dec 17, 2014. 09:25 AM | 1 Like Like |Link to Comment
  • EXCO Resources Plans To Tap Oil In Buda Formation [View article]
    "By the end of September the Carol Pick well had already produced 45,193 barrels of light sweet crude oil ."

    Production rose in October for the Carol Pick Well. The well produced 27,842 barrels of light sweet crude oil for total production to date of 73,035. Not bad for a well that started producing in August.
    Dec 12, 2014. 04:12 PM | Likes Like |Link to Comment
  • Whiting Petroleum Should Walk Away From Kodiak Acquisition [View article]
    Will Whiting be able to refinance Kodiak's bonds with interest rates over 8%. I imagine the debt market for shale players is closed right now.
    Dec 12, 2014. 04:07 PM | 1 Like Like |Link to Comment
  • U.S. Energy: This Oil Stock Is Too Cheap To Ignore, With Significant Buda Exposure [View article]
    No, not at all. Lot's of Buda wells have been very successful, including most recently two wells drilled by CML Exploration on the border of the Booth-Tortuga lease.

    What Contango is willing to drill with current oil prices is an open question, and a rapidly moving target.
    Dec 10, 2014. 08:40 PM | 2 Likes Like |Link to Comment
  • Whiting Petroleum Should Walk Away From Kodiak Acquisition [View article]
    Merger is complete. Whiting did not walk away. Company now has approximately $5 billion in debt and lots of acreage no one is going to drill at $65 oil.
    Dec 8, 2014. 10:33 AM | 1 Like Like |Link to Comment
  • Whiting Petroleum Should Walk Away From Kodiak Acquisition [View article]
    Nothing suspect. I was simply trying to point out that acreage that worked with oil in the $90's doesn't work with oil in the $60's.
    Dec 3, 2014. 05:13 PM | 1 Like Like |Link to Comment
  • Whiting Petroleum Should Walk Away From Kodiak Acquisition [View article]
    The percentage each company gets in the merged company is set. Kodiak shareholders are not getting a set price but a set number of shares. It doesn't matter where the stock prices trade to prior to the merger. Here are the terms of the deal from the 3Q 10Q linked above in the article:

    "On July 13, 2014 , Whiting and Kodiak Oil & Gas Corp . (“Kodiak”) entered into a definitive agreement under which Whiting would acquire all of the outstanding common stock of Kodiak (the “Kodiak Acquisition”) . Under the terms of the agreement, Kodiak shareholders will receive 0.177 of a share of Whiting common stock in exchange for each share of Kodiak common stock they own . In addition, Whiting will assume all of Kodiak’s outstanding debt as of the closing date of the acquisition."
    Dec 3, 2014. 07:52 AM | 2 Likes Like |Link to Comment
  • U.S. Energy: This Oil Stock Is Too Cheap To Ignore, With Significant Buda Exposure [View article]
    Latest article talks about Contango and the Buda...relevant to USEG:

    http://seekingalpha.co...
    Nov 20, 2014. 10:53 AM | Likes Like |Link to Comment
  • Contango Oil And Gas: Take A Good Hard Look At This Misunderstood, Undervalued SMID E&P Company [View article]
    Latest article referencing Contango:

    http://seekingalpha.co...
    Nov 20, 2014. 10:51 AM | Likes Like |Link to Comment
  • EXCO Resources Plans To Tap Oil In Buda Formation [View article]
    Those interested in USEG can find more information here:

    http://seekingalpha.co...

    They are even more levered to the Buda and Austin Chalk sweet spot than Contango or EXCO Resources.
    Nov 18, 2014. 01:43 PM | 1 Like Like |Link to Comment
  • EXCO Resources Plans To Tap Oil In Buda Formation [View article]
    A lot more information on the Buda can be found here:

    http://seekingalpha.co...

    There is a fault line known as the Zavala Syncline that runs from east to west a couple of miles south of the northern Dimmit border. That is the source of the natural fractures. The best Buda wells so far have all been drilled on the northern side of the fault line. The fault runs through all of EXCO's leases near the Zavala and Dimmit border.
    Nov 18, 2014. 01:34 PM | Likes Like |Link to Comment
  • Chesapeake Joining Buda Oil Rush In South Texas [View article]
    No September update on Chesapeake's Buda well.

    On another note Contango (MCF) and U.S. Energy (USEG) are moving to develop their Eagle Ford acreage next Chesapeake in 2015 due to Chesapeake's success in the play. Contango estimates their whole Eagle/Ford Buda play's 50% working interest is worth $626 million when developed. USEG has a 30% working interest in the same lease. USEG is currently trading for only $70 million and had over 1,500 Boepd in production in the third quarter.
    Nov 11, 2014. 11:24 AM | Likes Like |Link to Comment
  • EXCO Resources Could Be Sitting In The Buda Sweet Spot [View article]
    While it has taken longer than expected, EXCO Resources finally plans to test the Buda on is acreage west of the Booth-Tortuga lease. They have a partner that plans to drill four to five Buda wells starting in November of 2014.

    Multiple wells drilled to their east by USEG and MCF have averaged over 1,000 Boepd for the initial 30 days. Well costs are now down to under $3 million on average.
    Oct 30, 2014. 03:14 PM | 1 Like Like |Link to Comment
  • U.S. Energy Priced Way Too Low By Market [View instapost]
    The only thing I know for sure is management has said they will report on their new venture when they release Q3 earnings. Probably in the second week of November.
    Oct 28, 2014. 03:15 PM | Likes Like |Link to Comment
  • Contango And U.S. Energy Are In Austin Chalk Sweet Spot [View article]
    Latest comments on USEG on my instablog:

    http://seekingalpha.co...
    Oct 28, 2014. 12:03 PM | Likes Like |Link to Comment
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283 Comments
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