tag:blogger.com,1999:blog-1527840491496268397.post7050984907693635233..comments2024-03-08T11:20:30.095-07:00Comments on Credit Bubble Stocks: GMX Resources ($GMXR) and the Not Very Informative Press ReleaseUnknownnoreply@blogger.comBlogger6125tag:blogger.com,1999:blog-1527840491496268397.post-51169010428174346012012-04-04T12:11:53.625-07:002012-04-04T12:11:53.625-07:00Apparently, there is a special grommet that you ca...Apparently, there is a special grommet that you can put on your tool to help prevent your balls from getting stuck in the hole.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-69726286812489419272012-04-04T07:59:50.268-07:002012-04-04T07:59:50.268-07:00Looks like good news for longs, but I'm not su...Looks like good news for longs, but I'm not sure why the company doesn't just put out all the good news at once. They would help themselves if they were more clear, for instance:<br /><br />They released the "peak rate", is this better than a 24-hour rate? This sounds a lot better, and they should be clear about how much better it is.<br /><br />Also, they made no mention of frac balls with this well. In previous wells they have had big production issues because so many of the frac balls are still stuck downhole (I beleive GMXR is building a fleet of workover rigs to get the balls out of the hole, which should lead to huge production!).<br /><br />My question is, why didn't they release how many balls are still stuck in the Lange 11-30-1H? If they still have most of their balls stuck in the hole this "peak rate" could turn out to be conservative. I can't wait till they get one of the workover rigs out to the Lange and really work it over. I believe they can drill the balls out of the hole with a downhole mud-motor. <br /><br />As another astute commentor posted, every time you drilla well the knowledge increases, and I'm sure its the same for workovers. By this point Ken Kenworthy must be so good at working the downhole mudmotor and getting his balls out of the hole that production could probably double or triple once he gets them out!<br /><br />I have no position in the stockwildcathttps://www.blogger.com/profile/09025509627073603544noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-70308004887549649672012-04-04T07:50:45.535-07:002012-04-04T07:50:45.535-07:00This comment has been removed by the author.wildcathttps://www.blogger.com/profile/09025509627073603544noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-41774270887821628402012-04-04T07:35:37.964-07:002012-04-04T07:35:37.964-07:00The press release says the peak rate is 2538, not ...The press release says the peak rate is 2538, not average production. I think you may have misread the press release. <br /><br />Every time you drill a well you get better knowledge of the field and how best to drill and frack it. This is important as the well drilled was 75% better (on peak production rate). <br /><br />With the price discrepancy between Nat Gas, Nat Liquids, and Crude Oil it is disappointing that the company did not release more information in the press release of the output. <br /><br />Echoing oilandgasguy77 comments (but not in his negative way) After the initial decline in production, the well is very steady and should only decline 5-10% of previous year supply (ie 5% decline does not straight line decline so that the well is done in 20 years). <br /><br />I have no position in the company.Joshhttps://www.blogger.com/profile/12028228587020987588noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-79395117847597540362012-04-04T03:52:29.023-07:002012-04-04T03:52:29.023-07:00"So, by month three, the Taboo well seemed to..."So, by month three, the Taboo well seemed to be producing 325 actual barrels of oil per day. Maybe it will produce somewhere between 50,000 to 100,000 barrels during the first year. And that will be almost all of the oil it will ever produce. It is hard to see it producing enough oil, which sells at a discount in the Bakken, to equal the present value of the ~$10 million estimated well cost. In other words, it is hard to see how this well can break even"<br /><br />Do you just think that people reading this will believe it? You actually believe that the decline curve on these wells is 1 yr? These wells will continue to produce oil for years and years. In fact many of them for 30 years!<br /><br />Get your facts straight!oilandgasguy77https://www.blogger.com/profile/10704961465027800433noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-73175089710664809932012-04-04T03:41:26.345-07:002012-04-04T03:41:26.345-07:00Good luck covering your short today!Good luck covering your short today!oilandgasguy77https://www.blogger.com/profile/10704961465027800433noreply@blogger.com