David Stallard's Comments David Stallard's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.com/user/381906/comments Jeremy Grantham Believes In High Oil Prices: Thinks Oil Sands Producers Are Bad Investments http://seekingalpha.com/article/1357671/comments?source=feed#comment-17938671 17938671 Mon, 22 Apr 2013 13:21:32 -0400 Oilfield Water Management: The Oil And Gas Industry's Holy Grail http://seekingalpha.com/article/1309811/comments?source=feed#comment-17457401 17457401 Wed, 10 Apr 2013 14:02:21 -0400 Why Financial Repression Will Fail http://seekingalpha.com/article/1010881/comments?source=feed#comment-11692011 11692011 Fri, 16 Nov 2012 13:04:37 -0500 Chuy's - Another Overvalued Restaurant Company? http://seekingalpha.com/article/910721/comments?source=feed#comment-10326221 10326221 Tue, 09 Oct 2012 10:45:59 -0400 Gold And The Miners: The Ultimate Hedge? http://seekingalpha.com/article/872861/comments?source=feed#comment-9574001 9574001 Tue, 18 Sep 2012 09:41:40 -0400 Natural Gas: The Buy Of The Decade http://seekingalpha.com/article/662961/comments?source=feed#comment-6507301 6507301 Sun, 17 Jun 2012 12:32:47 -0400 Sizing Up Chesapeake's Permian Basin Asset Sale http://seekingalpha.com/article/661821/comments?source=feed#comment-6506391 6506391
1. oil & gas activities originated in the Permian Basin with spudding of the Santa Rita #1 in 1921 -- not "early 1930s"

2. Chevron is a VERY active operator in the Permian Basin, having acquired Texaco and Texaco earlier having acquired Gulf Oil -- both of whom were significant long-time players in the basin.]]> Sun, 17 Jun 2012 12:05:27 -0400
1. oil & gas activities originated in the Permian Basin with spudding of the Santa Rita #1 in 1921 -- not "early 1930s"

2. Chevron is a VERY active operator in the Permian Basin, having acquired Texaco and Texaco earlier having acquired Gulf Oil -- both of whom were significant long-time players in the basin.]]> Buying Opportunity Or Full-Blown Bear Market? http://seekingalpha.com/article/654941/comments?source=feed#comment-6383141 6383141 Wed, 13 Jun 2012 12:10:41 -0400 How To Play The Niobrara Silo Field http://seekingalpha.com/article/523591/comments?source=feed#comment-4823191 4823191 UPL) Niobrara venture farther south (near Colo Spgs, El Paso Co., I believe)?]]> Thu, 26 Apr 2012 13:49:11 -0400 UPL) Niobrara venture farther south (near Colo Spgs, El Paso Co., I believe)?]]> The Dallas Fed's Creative Denial Game http://seekingalpha.com/article/456921/comments?source=feed#comment-3831031 3831031 Mon, 26 Mar 2012 11:03:59 -0400 Chesapeake Energy, Rolling Stone Magazine, Shale Gas Scams And Bubbles http://seekingalpha.com/article/414431/comments?source=feed#comment-3257801 3257801 Wed, 07 Mar 2012 13:03:44 -0500 LTRO: Savior Or Distraction? http://seekingalpha.com/article/400001/comments?source=feed#comment-3035821 3035821 Wed, 29 Feb 2012 13:16:38 -0500 Is Lucas Energy Copying Chesapeake And About To Make A Bold New Move? http://seekingalpha.com/article/393491/comments?source=feed#comment-2967001 2967001 Mon, 27 Feb 2012 11:41:48 -0500 Dry Gas Drilling Concerns Rise: Why You Should Avoid These 9 Energy Stocks http://seekingalpha.com/article/386431/comments?source=feed#comment-2948221 2948221 Sun, 26 Feb 2012 14:06:53 -0500 Dry Gas Drilling Concerns Rise: Why You Should Avoid These 9 Energy Stocks http://seekingalpha.com/article/386431/comments?source=feed#comment-2936451 2936451 I look at the presentations ("slide decks") from the companies, and they often disclose "Finding & Development" cost. UPL is on the low end ($1.60/mcf by my calculation). See p. 12 of UPL's latest presentation for cost comparisons with peers. Also look at reported margins, e.g., Yahoo Finance "Key Statistics" lists UPL Profit Margin (41.13%) & Operating Margin (70.20%). Also look at Enterprise Value (from Yahoo) compared to Proved Reserves (from 10-K or press release), which shows how much you're effectively paying for each mcf of natgas -- for UPL I estimate $1.11/mcf for proved reserves, based on industry standard energy equivalence of 6 mcf of gas for each bbl of oil. If use 23:1, closer to financial equivalence, then effectively paying $1.00/mcf for proved reserves. When reported, I also look at 2P reserves (proved+probable) -- $0.52/mcf for UPL, and 3P reserves (proved+probable+possi... -- $$0.37/mcf for UPL. So if anybody in the U.S. is going to make $$$ from natgas sometime in the future, it's going to be UPL. Also look at drill bit RRR (reserves replacement ratio), sometimes disclosed in presentations -- or (the way I calculate it) the annual increase in proved reserves (excluding assets sales or purchases) divided by the annual production -- want to see organic growth. Hope this helps.

TLM looks pretty good, but more balanced with crude oil -- not really a natgas play.]]> Sat, 25 Feb 2012 22:37:27 -0500 I look at the presentations ("slide decks") from the companies, and they often disclose "Finding & Development" cost. UPL is on the low end ($1.60/mcf by my calculation). See p. 12 of UPL's latest presentation for cost comparisons with peers. Also look at reported margins, e.g., Yahoo Finance "Key Statistics" lists UPL Profit Margin (41.13%) & Operating Margin (70.20%). Also look at Enterprise Value (from Yahoo) compared to Proved Reserves (from 10-K or press release), which shows how much you're effectively paying for each mcf of natgas -- for UPL I estimate $1.11/mcf for proved reserves, based on industry standard energy equivalence of 6 mcf of gas for each bbl of oil. If use 23:1, closer to financial equivalence, then effectively paying $1.00/mcf for proved reserves. When reported, I also look at 2P reserves (proved+probable) -- $0.52/mcf for UPL, and 3P reserves (proved+probable+possi... -- $$0.37/mcf for UPL. So if anybody in the U.S. is going to make $$$ from natgas sometime in the future, it's going to be UPL. Also look at drill bit RRR (reserves replacement ratio), sometimes disclosed in presentations -- or (the way I calculate it) the annual increase in proved reserves (excluding assets sales or purchases) divided by the annual production -- want to see organic growth. Hope this helps.

TLM looks pretty good, but more balanced with crude oil -- not really a natgas play.]]> Dry Gas Drilling Concerns Rise: Why You Should Avoid These 9 Energy Stocks http://seekingalpha.com/article/386431/comments?source=feed#comment-2904031 2904031 Fri, 24 Feb 2012 13:53:25 -0500 Why Natural Gas Prices Will Rebound http://seekingalpha.com/article/380121/comments?source=feed#comment-2846561 2846561 Wed, 22 Feb 2012 18:25:05 -0500 Banks, Miners, Germany Pointing To Market Correction http://seekingalpha.com/article/370781/comments?source=feed#comment-2711451 2711451 Thu, 16 Feb 2012 21:21:02 -0500 Exxon Mobil Needs To Stop Buying Back Shares And Buy Penn West Energy Instead http://seekingalpha.com/article/360581/comments?source=feed#comment-2602421 2602421 Mon, 13 Feb 2012 11:02:26 -0500 Sifting Through The Hype - What's The Play On Natural Gas? http://seekingalpha.com/article/322616/comments?source=feed#comment-2211455 2211455 Sat, 28 Jan 2012 17:00:56 -0500 Natural Gas Spike? Don't Trust It http://seekingalpha.com/article/322095/comments?source=feed#comment-2205466 2205466 Thu, 26 Jan 2012 10:49:00 -0500 Natural Gas Continues Its Epic Fall http://seekingalpha.com/article/320780/comments?source=feed#comment-2189693 2189693 Fri, 20 Jan 2012 13:13:59 -0500 A 5 Step Strategy For Investing In Natural Gas http://seekingalpha.com/article/320562/comments?source=feed#comment-2189667 2189667 Fri, 20 Jan 2012 13:07:58 -0500 Freeport McMoRan Is On Sale Again http://seekingalpha.com/article/311725/comments?source=feed#comment-2084374 2084374 Mon, 05 Dec 2011 13:14:32 -0500 A Texas Solution To Greek Woes http://seekingalpha.com/article/305795/comments?source=feed#comment-2023957 2023957 Mon, 07 Nov 2011 22:13:25 -0500 Fund Managers' Moves In 11 Gold Value Stocks http://seekingalpha.com/article/298135/comments?source=feed#comment-1959853 1959853 Fri, 07 Oct 2011 12:41:04 -0400 Logical Case For 49% Drop In Stocks http://seekingalpha.com/article/291780/comments?source=feed#comment-1892866 1892866 Thu, 08 Sep 2011 10:28:25 -0400 Thoughts on the Near-Term Market http://seekingalpha.com/article/211715/comments?source=feed#comment-1082723 1082723 Fri, 25 Jun 2010 13:45:35 -0400 Was Thursday’s Stock Market Action the Start of a New Rally? http://seekingalpha.com/article/209593/comments?source=feed#comment-1063040 1063040 Fri, 11 Jun 2010 14:41:01 -0400 Should Glass-Steagall Return? I Prefer the Volcker Rule http://seekingalpha.com/article/184046/comments?source=feed#comment-865662 865662 Sun, 24 Jan 2010 13:37:00 -0500