Thanks for the info. That explains things.
I have been doing a little research on Montney in NW Alberta and NE BC.
Relative to their land holdings, market valuations, and early well results,
I came up with Artek and Leucrotta.
Artek is JV'ed with Kelt up there. Leucrotta, the spin from Crocotta where
the insiders moved to with their money, is trading around the PP and public rights
Artek started out earlier than most and has had to come down the learning curve.
BUt, their last few wells have been very good. They did larger slickwater fraccs
and seem to have got a lot more product. They do seem to have some production costs and
facilities issues, but at least the PR is that they are working on it for 4Q and 2015 better execution.
Leucrotta has been getting good results too, with their early wells that are within the past year or so, where
Artkek drilled some wells back some years ago. So I don't want to penalize Artke for being an early pioneer of sorts
and taking arrows.
My question is Artek well costs verses Leucrotta's published type curve, Leucrotta is much less....
I picked these two as more pure plays than TOU, and I liked the valuations better than say a Storm, Crew, or
Would be interested in any thoughts you have on these or others that I may have bypassed?
As an aside, I own a little Apache south of the border. They have a large activist shareholder pushing them.
They are monetizing many assets and redeploying capital and rigs to their best opportunities.
They sold a lot of dry gas in Canada, but are keeping two assets up there and continue drilling.....fairly active.
They kept Montney and Duvernay. I have no idea where, and Farris gave no details on the 3Q conference call except when
queried by an analyst he said "we like what we are seeing up there and plan to continue development"....or some such.
A few years ago now I heard Farris on a CC talk about their assets, which are and were extensive. They are/were in dry liquids and oil, offshore and
onshore, all over the world. He said then that he thought the Permain basin was about one of the best places in the world to drill as there were staked
development plays all over the acres, and the basin is big. He also said he liked the WCSB as a number two to the Perm for the same reasons.