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  • Contango Oil: Crimson Adds Significant Value With Upside Of One-Third [View article]
    The company's highest rate of return opportunity over the next couple of years are the Buda wells they are drilling.

    http://seekingalpha.co...

    By the way very nice article. As a quick update on the Buda they finished the fifth Buda well and spud another Buda well at the beginning of December. One well took only three weeks to drill and bring into production; that was the well completed in October.
    Dec 24 12:45 PM | 3 Likes Like |Link to Comment
  • Cold Winter Could Lead To Massive Natural Gas Futures Price Spike [View article]
    Sadly I considered that trade and didn't execute. Good luck.
    Dec 23 10:24 PM | 1 Like Like |Link to Comment
  • EXCO Resources Could Be Sitting In The Buda Sweet Spot [View article]
    XCO investor relations may not not understand that the Buda wells do not require expensive frack jobs. The Buda is deeper than the Eagle Ford and would be more expensive to "drill," but far less expensive to complete.
    Dec 14 11:08 AM | Likes Like |Link to Comment
  • EXCO Resources Could Be Sitting In The Buda Sweet Spot [View article]
    In paragraph 3 line 2 the words "short wells" should read "Austin Chalk wells." Thanks for posting the transcript.
    Dec 14 11:04 AM | 1 Like Like |Link to Comment
  • EXCO Resources Could Be Sitting In The Buda Sweet Spot [View article]
    Good Buda wells need natural fractures. Natural fractures occur most often near fault lines. Since fault lines are not everywhere naturally fracked Buda wells are not everywhere.

    The Zavala Sycline is a much larger fault line than any fault line in Frio County where Goodrich was drilling their Buda wells.

    USEG represents deep value. But the Buda play is a growth and momentum play and not just a value play.
    Dec 10 05:54 PM | 3 Likes Like |Link to Comment
  • U.S. Energy (USEG) Is By Far The Most Levered Way To Play The Buda Oil Discovery In South Texas [View instapost]
    Potentially compelling new news on the Buda sweet spot with big impacts for XCO, MCF, and USEG.

    U.S. Enercorp is USEG and MCF's new Buda drilling partner on acreage south of the Booth-Tortuga lease. U.S. Enercorp also has acreage a little to the west of the Booth-Tortuga lease right next to XCO's leases. A couple of months ago U.S. Enercorp spudded a new wildcat Buda well. It must have been very successful because U.S. Enercorp permitted a second Buda well, the Elizabeth 2H, in the same area a couple of days ago. This could confirm that the fault line runs south of the Dimmit and Zavala border all the way to Maverick County.

    This would prove up all of the western acreage on the Booth-Tortuga lease and it would also prove up some of the acreage for XCO. While the upward movement in USEG and MCF has recently started because of the Buda, the coming upward movement on XCO based on the Buda is in front of it. Between January and May interest in the Buda sweet spot will grow on Wall Street because of MCF and USEG and at some point that interest will move to XCO.

    http://bit.ly/18RFhq7
    Dec 10 09:01 AM | Likes Like |Link to Comment
  • EXCO Resources Could Be Sitting In The Buda Sweet Spot [View article]
    Potentially compelling new news on the Buda sweet spot with big impacts for XCO, MCF, and USEG.

    U.S. Enercorp is USEG and MCF's new Buda drilling partner on acreage south of the Booth-Tortuga lease. U.S. Enercorp also has acreage a little to the west of the Booth-Tortuga lease right next to XCO's leases. A couple of months ago U.S. Enercorp spudded a new wildcat Buda well. It must have been very successful because U.S. Enercorp permitted a second Buda well, the Elizabeth 2H, in the same area a couple of days ago. This could confirm that the fault line runs south of the Dimmit and Zavala border all the way to Maverick County.

    This would prove up all of the western acreage on the Booth-Tortuga lease and it would also prove up some of the acreage for XCO. While the upward movement in USEG and MCF has recently started because of the Buda, the coming upward movement on XCO based on the Buda is in front of it. Between January and May interest in the Buda sweet spot will grow on Wall Street because of MCF and USEG and at some point that interest will move to XCO.

    http://bit.ly/18RFhq7
    Dec 10 09:00 AM | 2 Likes Like |Link to Comment
  • EXCO Resources Could Be Sitting In The Buda Sweet Spot [View article]
    http://bit.ly/YXgKc3

    Slide 6 shows the location of the Booth-Tortuga sweet spot and all of the acreage CHK had to the west of the Booth-Tortuga lease. Some of that acreage was acquired by EXCO Resources and the rest they have farm in rights.

    If the link doesn't work go to the U.S. Energy homepage and click on their presentation.
    Dec 8 08:47 AM | 1 Like Like |Link to Comment
  • U.S. Energy (USEG) Is By Far The Most Levered Way To Play The Buda Oil Discovery In South Texas [View instapost]
    Sorry, but I am not familiar with that drilling technique.
    Dec 7 11:52 AM | Likes Like |Link to Comment
  • EXCO Resources Could Be Sitting In The Buda Sweet Spot [View article]
    If you look at EXCO's presentation they show a map of their Eagle Ford acreage acquired from Chesapeake. They have lots of holdings to the west of Contango's lease and very close to the fault line. The Contango lease is about 10 miles from the eastern side of Zavala and Dimmit and the border splits their lease.

    Here are some of the other articles on the Buda for those wanting to get up to date:

    http://seekingalpha.co...

    http://seekingalpha.co...

    http://seekingalpha.co...

    http://bit.ly/19D6yeR
    Dec 6 05:44 PM | 2 Likes Like |Link to Comment
  • U.S. Energy (USEG) Is By Far The Most Levered Way To Play The Buda Oil Discovery In South Texas [View instapost]
    USEG remains my largest core holding. Thanks again for the mining info.
    Nov 23 12:15 PM | Likes Like |Link to Comment
  • Contango Is Sitting On A Buda Oil Bonanza In South Texas [View article]
    I read the last week of September on the Texas Rail Road Commission website that the Buda 4H well was spud September 19.

    Sometimes, not always, the smart way to invest is to buy high and sell higher. If the Buda wells they are drilling keep turning out like the first three it could go a lot higher from here.
    Nov 22 02:15 PM | 1 Like Like |Link to Comment
  • U.S. Energy (USEG) Is By Far The Most Levered Way To Play The Buda Oil Discovery In South Texas [View instapost]
    I did not know about the pending sale. Thanks for sharing this.

    I'm pretty sure the value to USEG will ultimately be $40 million if they start the mill. According to the 10K much of that would come in the first few months.
    Nov 22 02:04 PM | Likes Like |Link to Comment
  • Buda Oil Discovery May Spark Bidding War For Crimson Exploration [View article]
    Sorry, just found your comment. I did not mention USEG because at the time I wrote the article their market cap was under $100 million. Seeking Alpha has a policy that stocks under $100 million cannot be mentioned in articles they publish. I have posted this elsewhere, it is no mystery.

    As to the news on the Buda wells you should have taken advantage of the public articles that I wrote and you read. Contango's first Buda well started producing in May. The Dan Hughes' Buda well data was publicly reported on the Texas Rail Road Commission website. The Texas Rail Road Commission publicly reported the well permit for Contango's second Buda well in July and that it was spud in early August.

    The reason for the rally in USEG was people wanted to get in before the news was released.
    Nov 22 02:01 PM | Likes Like |Link to Comment
  • Contango Is Sitting On A Buda Oil Bonanza In South Texas [View article]
    Which EUR comment are you referring to? I will need clarification to provide an answer.
    Nov 13 08:16 PM | Likes Like |Link to Comment
COMMENTS STATS
238 Comments
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