.

[SKEP + 229]

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Edited August 8, 2019 by SKEP

[Justin Hicks + 162]

Damage control is what it sounds like.

[SKEP + 229]

19 minutes ago, Justin Hicks said:

Damage control is what it sounds like.

Of course it does. 

Discussing Shale is useless. Nobody is changing their mind.  Lets all just wait and see what 2020 brings. It will be very telling.

Luddites have a mental block.  

You would be seeing more bankruptcies if not for this: 

Many of the smaller independents locked up small but productive acreage. Unfortunately they gave away "rich" royalty agreements and way way over leveraged.

DEPENDING ON THEIR CONTRACT WITH THE LANDOWNER .  . .  .  IF THEY FILE CHAPTER 11 PROTECTION IT MAY NEGATE THE CONTRACT WITH THE LANDOWNER.  THE INDIE IS THEN LEFT WITH A COUPLE OF OLD RUSTY RIGS.  NO RESERVES.

A business plan based on praying for a miracle doesn't fly with your banker.

Edited August 6, 2019 by SKEP

[cbrasher1 + 272]

2nd quarter earnings appears some are getting it...

Recent Highlights:

•Delivered net cash provided by operating activities of $214.0 million and Adjusted EBITDA⁽¹⁾ of $249.6 million for the second quarter of 2019.

•Produced 84.5 MBoepd, an increase of 6.3% from the second quarter of 2018.

•Achieved positive free cash flow year to date and continues to expect to be free cash flow positive in 2019 for the E&P business⁽²⁾.

•Delaware Basin well costs are targeted at $9.6 million per ~10,000 foot lateral well.

•LOE totaled $7.32 per Boe in the second quarter of 2019, within the Company's guidance of $7.00 to $7.75 per Boe.

•Both total Company G&A expense and E&P Cash G&A⁽¹⁾ expense decreased 10% from the first quarter of 2019.

And this is one of those "small" producers...

[Douglas Buckland + 6,308]

This article makes no sense. They talk about new production and by their own admission ignore depletion concerns.

Initial production had never been the issue! Although that too will decline as the sweet spots are drilled out.

[SKEP + 229]

On 8/7/2019 at 8:57 AM, Douglas Buckland said:

 

Edited August 8, 2019 by SKEP

[Douglas Buckland + 6,308]

Depends on how you read that. 

Rig count is not production. Can they meet their drilling requirements with the 7 remaining rigs? Were the other 12 rigs 'surplus to requirements'?

Generally speaking new LTO wells produce well for the first two years and then decline dramatically. Is Continental saying no loss of production in the short term?

Or, as you suggested, they could simply be lying to attract investors. Only time will tell.

[Tom Kirkman + 8,860]

4 minutes ago, Douglas Buckland said:

Or, as you suggested, they could simply be lying to attract investors. Only time will tell.

^ sounds about right

[SKEP + 229]

18 hours ago, Douglas Buckland said:

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Edited August 8, 2019 by SKEP