Little murky for my liking and we will wait for London to settle down before we judge what they think
We were told on the 4th that they continue to produce oil and frac water
We find out that since that date the frac water recovery has gone from 55 % to 75 % so 4400 recovered at an average rate of 100 /day
Must have stopped completely therefore not hard to have a "significant increase in flowback rates"
Pretty murky Mr M
On the positive side they do not consider it a duster as they are preparing to sell gas and replacing the frac tree with production tree Presumably wouldn't bother unless they had some confidence
Would be nice to have concrete numbers instead of platitudes but the long and short is its like being back in the army"hurry up and wait" and lets guess whats happening
OEX Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held