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Michael Filloon

 
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  • Bakken Update: Merger Creates Bakken And Eagle Ford-Focused Small Cap [View article]
    Hi Brent,

    A dividend would have been tough to pull off for Earthstone, even with this level of cash generated. They haven't hedged production, and because of this we have seen a lot of volatility in the name. As part of Oak Valley, I would guess the production will be hedged, but those dollars may be used to purchase operated Bakken acreage (that is just a guess on my part), or at least operated acreage somewhere.
    Jun 12 11:42 AM | Likes Like |Link to Comment
  • Bakken Update: Merger Creates Bakken And Eagle Ford-Focused Small Cap [View article]
    PM,

    Nice to hear from you. Sorry bout that, it probably was a little confusing since Halcon and PetroHawk both used HK. Here is info on the non-compete in the Eagle Ford.

    Independent producer Halcon Resources likely will be required to divest one of the jewels in its nearly $1 billion takeover of GeoResources — 24,000 net acres of liquids-rich acreage in the prolific Eagle Ford shale play in Fayette County, Texas.

    That’s because Halcon Chief Executive Officer Floyd Wilson, formerly CEO of Petrohawk Energy Corp., signed a “non-compete” agreement with Australia’s BHP Billiton when BHP acquired Petrohawk last year in a $15 billion deal that included Eagle Ford acreage.

    “We plan to divest this property, unless I can work something else out with BHP,” Wilson said in an April 25 conference call with analysts. “I suspect that we will end up divesting the property as per our agreement. They did a great job of dealing with us in a very business-like way, and we intend to respond in the same way.”
    Here is the link to the article.
    http://bit.ly/1iqVm5e

    Things are going great at Split Rock. I am lucky to work with some really good guys, that put our investors first. Couldn't have asked for a better fit. Just so you know, I am going to be answering more questions on the site, although it will be somewhat restricted as there are some things we cant talk about, and others that will remain on our site for investors.
    Jun 12 11:38 AM | 1 Like Like |Link to Comment
  • Bakken Update: Bonanza Creek Is Up Over 20%, More Potential Ahead [View article]
    Thanks Gregg,

    I appreciate that. Its too big the Candy store is so big.
    May 29 09:00 PM | 1 Like Like |Link to Comment
  • Bakken Update: Bonanza Creek Is Up Over 20%, More Potential Ahead [View article]
    Thanks Jeep,

    It will be interesting to see where it goes from here. Looking at EV/EBITDA, BCEI still looks cheap even after the move. I would guess the big question is how these wells will deplete. If they model like NBL's Wells Ranch, then we get to that mid to upper 60s level. Problem is we won't know for a while.
    May 29 08:41 PM | 2 Likes Like |Link to Comment
  • Bakken Update: Bonanza Creek Is Up Over 20%, More Potential Ahead [View article]
    Einherjar,

    Check out our subscription page. We cover questions like this and also share the moves we are making with our fund.
    http://bit.ly/1gWeGtP
    May 29 10:48 AM | Likes Like |Link to Comment
  • Bakken Update: Bonanza Creek Is Up Over 20%, More Potential Ahead [View article]
    Hi Jason,

    Sorry, but we are answering questions like this at our Bakken Subscription.
    http://bit.ly/1gWeGtP
    Hope life has been treating you well. Its been a while since we last spoke.
    May 29 10:47 AM | 1 Like Like |Link to Comment
  • BakkenUpdate: Rex Energy Blows By Q1 Analyst Estimates On Its Way To $30/Share [View article]
    ZoeZoe,

    I still cover the name, but those types of questions are answered at our Bakken Subscription. We also let you know what we are doing with respect to our fund.
    http://bit.ly/1gWeGtP
    May 23 10:32 PM | Likes Like |Link to Comment
  • BakkenUpdate: Rex Energy Blows By Q1 Analyst Estimates On Its Way To $30/Share [View article]
    bigazul,

    It would be a real good way to get operators to not want to drill, and lower leasehold values as well. Pretty sure it wouldnt be real good for the economy.
    May 14 02:38 PM | Likes Like |Link to Comment
  • Bakken Update: Recent Kodiak Completions Model 1000+ MBoe [View article]
    lol wut,

    No one tries to drill the lower Bakken silt (unless they want to spend most of their days trying to fish out the bit). Operators are fraccing into it, which increases the number of wells per section.

    There is no doubt that drilling 6 to 8 wells in an interval will reduce recoveries per well, but overall more resource is garnered and IRR% improve. I think you are a little confused as to what an operator is looking for when pad drilling. There will be some communication between wells, but operators are ok with that as long as increased profits are made per well. The tighter the spacing the more resource one well robs from another, but still an operator will increase profits. We tend to focus on such small things that we forget to step back and take a look at the big picture. The Polar/Koala prospects have wells that on average produce EURs of 1000 MBoe.

    The Three Forks wells will do just fine where the lower Bakken silt is present just like it has in other areas. As will pads that produce 32 wells/section. The second bench of the Three Forks will produce just as well as the first, as all the cores throughout have shown the second bench is much like the first. The third bench is where some drop off will be seen but this is present throughout the play as well. The fourth bench on the other hand is good around the Nesson Anticline but it isn't present throughout. You may want to see if you can talk to one of the geologists on the site. Most of the things you are talking about aren't even close to what operators/geologists in the Bakken speak of as fact.
    May 13 11:53 PM | 3 Likes Like |Link to Comment
  • Bakken Update: Recent Kodiak Completions Model 1000+ MBoe [View article]
    Jeep,

    Thanks for the comment. I would agree with you on the edge of the envelope comment. In the middle Bakken, I would guess we see a dip at 6 wells per section as one well robs the other. How much is more the question. TF2 seems to be much like TF1, but TF3 hasn't been as good. It will be interesting to see what CLR has for us on the 32 well pads it has been drilling.
    May 11 07:55 PM | 1 Like Like |Link to Comment
  • Bonanza Creek Reports In-Line Volumes, Bottom-Line Miss On One-Time Costs, Super Section Looking Good [View article]
    I agree. It was nice to add here, but was terribly disappointed by the call.
    May 9 08:51 PM | 2 Likes Like |Link to Comment
  • Bakken Update: Recent Kodiak Completions Model 1000+ MBoe [View article]
    lol wut,

    If not 10 wells/section, than how many do you think? Which lower Three Forks wells don't look good and why? How is the lower Bakken silt unfounded in your opinion, and are there any specific well results that back your assumption? As for the wells you don't believe will get to 1000 MBoe, how are you modelling that EUR to 500 MBoe?
    Thanks
    May 9 08:45 PM | 1 Like Like |Link to Comment
  • Bonanza Creek Reports In-Line Volumes, Bottom-Line Miss On One-Time Costs, Super Section Looking Good [View article]
    Thanks Z,

    Encouraging results, and we continue to own the name.
    May 9 09:04 AM | 1 Like Like |Link to Comment
  • KOG Reports Weather Related Miss; Guides Lower; Long-Term Story Strong [View article]
    DrillBit,

    I think WLL has found that the new completion design works better in lower areas of pressure. When EOG used this in western Williams County it improved the production profile of those wells more than in Parshall Field or Antelope.
    May 3 03:03 PM | 3 Likes Like |Link to Comment
  • KOG Reports Weather Related Miss; Guides Lower; Long-Term Story Strong [View article]
    Z,

    Its interesting with WLL. I think they are doing a fantastic job and the depletion curve has flattened nicely, but looking at their proppant use per foot, it is still quite a bit less than EOG wells in the same general areas of the Bakken so I would guess they still could do better running through this year. We have seen a well completed using 16 million pounds of sand (biggest we have seen to date) recently, so the source rock stimulations are getting better for a lot of companies in the Bakken, Permian and Eagle Ford. The story of this year seems to be which companies are going to switch to cemented liners/plug&perf, and those that do it quickly will be able to up production guidance. Those that aren't will probably disappoint. Have a great weekend Z!
    May 2 04:51 PM | 2 Likes Like |Link to Comment
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