Folks, I fear there is too much enthusiasm about TXN's speed of drilling progress prior to the SEA deal. I think TXN mainly contracts work (unlike SEA's own equip/crew), so takes longer. Here is TXN's announcement on 7 Nov regarding their two wells. Essentially, don't expect any IP info until mid-January.
"The Hoskins EFS #3H and the Quintanilla SM EF #1H are planned to be fracced back to back after both wells are cased. The estimated date for fraccing is planned for late November or early December (pending frac crew availability) with completion operations planned to be completed in early 2013."
This may have implications for the feasibility of alternative bids for TXN, but I suspect alternative bidders, if any, aren't waiting for that IP news. They're taking a second look at TXN's existing info given the low (but also a moving target due to share swap) takeaway price that SEA has set.
TXN Price at posting:
41.5¢ Sentiment: None Disclosure: Held
