I wasn't worried about them, I've been heavily involved in the Radial Drilling space for the past 10 years (spent a few years in Texas) and believe that FPL was on the right tracks with looking at this technology, however probably picked the wrong technology.
There are a number of Radial Drilling systems being touted, most of which are a derivative of a system that looks and sounds great, however is just never going to jet laterals, let alone 500ft laterals.
If FPL had picked the right technology I think they could have achieved a good result here, the farm out of 5% was a win/win for a good technology deployment.
FPL Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
