Enercom 2014 | GXO Message Board Posts

Granite Oil Corp.

  GXO website
  • Membership Drive Update: In the first 48 hours we've hit almost 20% of our goal. An encouraging start to be sure, but we can't stop now. We need to pull enough subscription revenue forward to counter severe cash flow deficits resulting from a dramatic slow-down in ad spend thanks to the global pandemic which shows no signs of letting up in the near-term. We're doing everything in our power to keep our heads above some very choppy water, but we can't do it alone. We need your help. So if you've ever thought about giving our premium service a try, there's no better time to do it than right now by taking advantage of one of our discounted multi-year plans. Thanks in advance for your continued loyalty & support! 

  • Limited Premium Membership Offer
    Choose a Plan, Save Money & Help Us Survive the Pandemic

    Lifetime @ $399 (only 24 left) 5-yrs @ $199 (only 30 left) 2-yrs @ $99 (only 27 left)

GXO   /  Message Board  /  Read Message

 

 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board
Msg  10 of 18  at  8/20/2014 11:10:04 PM  by

Relaxx

The following message was updated on 8/20/2014 11:46:41 PM.

Enercom 2014

   

Baaken: They have one rig drilling on average 16 days per well. One rig is enough for this play. They are deciding engineering like spacing, pipelines etc..

 

Peace River: Not high up on their present plans for development, nor will be in the foreseeable future it seems. This pretty much makes them a two play company for the most part.

 

Belly River: This is the one they are extremely high on. It has 4X the hydrocabons as opposed to the Baaken and that oil is 42-44 gravity.

 

Gas here has low value with CO2 so injection is a better choice but has 65b per million of liquids. They have the dominant position, as we know, so much so that others who look do just that, look. That position contains the infrastructure such as roads, pipes for example and that infrastructure is worth about $100 million.  The gas takeaway is very good being underutilized pipes. Nice to not have constrictions.

 

Reserves can only be booked in Canada by distance from an existing well/s. One rig is currently drilling to firm that up now to exploit the reserves. While the others are in development phase.

Development phase is that they now think they know the lateral lengths, spacing and path for the bits to follow. Sounds like a solid two years of drilling these wells.

 

Asked if they will do any more capital increases. No, was the answer. The balance sheet looked good. Their credit line will be increased too. Was that an absolute no? There could be for an increase for more rigs but Marty said that only to say anything is possible but he didn’t see it.

             
              Asked about acquisitions both Marty and Clayton said they look all the time. They have a short list to look       at for requirements. Marty said they want land, if it doesn't have at least 100 drill locations they pass. 

 

Finally, someone asked Marty that two years ago how he felt and he said “Good” last year he said “Very Good” and this year he said “Euphoric”.

 

I guess his words sum up how he thinks they are doing………….

 

Think I got the facts pretty closer,

Relaxx

 



     e-mail to a friend      printer-friendly     add to library      
| More
Recs: 15     Views: 340
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board






Financial Market Data provided by
.


Loading...