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Midstream's 2020 Resolutions: Less Spending With A View Toward Free Cash Flow
https://seekingalpha.com/article/4316944-midstreams-2020-resolutions-less-spending-view-toward-free-cash-flow
Midstream's 2020 Resolutions: Less Spending With A View Toward Free Cash Flow
https://seekingalpha.com/article/4316944-midstreams-2020-resolutions-less-spending-view-toward-free-cash-flow
Why Raymond James Top MLPs to Buy Also May Be 2020 Best Income Ideas
https://247wallst.com/energy-business/2020/01/16/why-raymond-james-top-mlps-to-buy-also-may-be-2020-best-income-ideas/
I am looking forward to their production numbers for the last quarter. I suspect they will be much better.
McEwen Mining: 2019 Full Year and Q4 Production Results
https://seekingalpha.com/news/3532085-mcewen-mining-reports-in-line-full-year-production-results
It is and has been my opinion that it is only a matter of time for this company. It was doing very well before the bottom fell out in the oil market. Oil has come back and so will DWOG IMHO. I have been accumulating a few shares at a time while the prices are low and have built a nice position.
I have not spoken to any of the others at DWOG, but have had many conversations with Horst. He is a fine and trustworthy gentleman IMHO
Oh, and by the way, if my my memory serves me correctly, one of the additional wells that they plan to bring on is already drilled.
Here are DeGoyler numbers to compare to my last post.
DeGolyer estimated that production would average 226 barrels of oil per day with an SOR of 4.12 in the first year of our SAGD Project, based on a 100% basis. The first oil production from our joint SAGD Project commenced on September 16, 2014 from the first SAGD well pair. Results to date indicate that the use of SAGD technology is successful in producing oil in the form of bitumen from the Bluesky reservoir. Bitumen production on a 100% basis averaged 399 barrels per day (100 barrels per day net to Deep
I think if you read the following three paragraphs, you will realize as I have. This property has far more oil than what was forecast and can be produced much cheaper than originally thought. They got the steam oil ratio down to 2.1 which is less than half the projected and produced nearly twice as many BOPD as projected.
02/24/2016
Production in 2016 at the Sawn Lake Demonstration Project has reached a steady state production level over the past six weeks of 600 barrels per day (“BOPD”) (150 BOPD net to DWOG) with an instantaneous steam-oil ratio (“ISOR”) of 2.2 from the one SAGD well pair. Production, on a 100% basis, averaged 596 BOPD with an ISOR of 2.2 in January and has averaged 620 BOPD with an ISOR of 2.1 during the first 21 days of February.
09/01/2015
Our SAGD Project production rate at the end of 11 months exceeded the average rate forecasted for the first year by 76% of the “Proved Plus Probable” production type curve projection as determined by DeGolyer and MacNaughton Canada Limited (“DeGolyer” is our independent qualified reservoir engineering firm) as reported in our September 30, 2014 reserves report. Production type curves are theoretical forecasts of reservoir performance and are used by qualified reserves evaluators, to predict and forecast, but not limited to, reservoir production rates and cash flows that have not yet been observed in a certain reservoir field. This “Proved Plus Probable” estimate is just as likely to be high as it could be low, therefore DeGolyer’s “Proved Plus Probable” estimate is “right in the middle” of expected estimates of type curve projections.
(“DeGolyer” is our independent qualified reservoir engineering firm) as reported in our September 30, 2014 reserves report. Production type curves are theoretical forecasts of reservoir performance and are used by qualified reserves evaluators, to predict and forecast, but not limited to, reservoir production rates and cash flows that have not yet been observed in a certain reservoir field. This “Proved Plus Probable” estimate is just as likely to be high as it could be low, therefore DeGolyer’s “Proved Plus Probable” estimate is “right in the middle” of expected estimates of type curve projections.
01/28/2014
DeGolyer also assigned Contingent resources to 24 out of 68 sections of the Company’s lands in the Bluesky reservoir located in the Peace River oil sands area of Alberta, also known as the Sawn Lake field. DeGolyer’s economic evaluation of the Company’s Contingent resources was
limited to the “Best” and “High” cases. Best case can be considered the “most likely case” scenario, and High case can be considered the “optimistic case” scenario. DeGolyer has estimated that the Best or “most likely” Contingent resources attributable to the Company’s working interest before adjusting for any Provincial royalties is 180,231,200 barrels of bitumen.
I dont know if you are even aware of the following approved project.
We previously received approval from the AER for a horizontal cyclic steam stimulation project (“HCSS Project”) application. It is anticipated that we will develop a thermal demonstration project on our properties followed by a commercial expansion project on one half section of land located on section 10-92-13W5 of our Sawn Lake oil sands properties where we currently have a 90% working interest. The final performance results and revised reservoir modeling studies from our current SAGD Project will be used to fine-tune our HCSS Project facility design before we initiate start-up operations on the half section of land where we plan to drill two horizontal wells to test the use of HCSS technology. We performed an environmental field study and surveyed the proposed location of our planned HCSS Project site and received AER approval for the surface wellsite and access road for this project.
It does sound like they are in the process of re-starting. This does surprise me. I did not look for them to re-start until oil stabilized in the mid $60.00 range.
Got ya. Just checking to see if you had new info.
What new pipelines are you referring to as " those new Pipelines "?
Former Energy Secretary Rick Perry rejoins board of Dakota Access owner, Energy Transfer
https://www.nationofchange.org/2020/01/06/breaking-former-energy-secretary-rick-perry-rejoins-board-of-dakota-access-owner-energy-transfer/
I have been in and out this one for years. I did sell some when it went into production last time, but have bought those shares and more since they shut down. I do know the company very well.
Their Steam Oil is very good. Right up there with the best.
Just to fill you in, (you may already be aware) DWOG overhead is covered up to 30K a month by their partner.
Sorry. I have been ramping up my position. As far as rampin up for production, I believe the market will need to show stability over for a while before they restart.
I have been doing that for months.
It is weird. Not just MUX. Gold is up big today, and yet all of the gold producers I have looked up are down today. It makes one wonder what is going on.
Thanks for the info.
I no longer need the link. You are correct. The 61 days includes 30 days before and 30 days after. Since you are knowledgable on these matters I have a question that I cant seem to find the answer to. If one sells a stock position in a corp and buys an etf or mutual fund that is 15-20% invested in that corp is the mutual fund considered "substantially identical".
Not saying that you are not correct, but could you provide a link, just so I can make sure I understand. Thanks in advance.
I believe that to take a loss one has to wait at least 60 days to buy back.
"If you have sold your stocks shares for a loss and want to use the loss as a tax write-off, you must wait at least 60 days before buying the stock again. If the shares are purchased before the 60 days have passed, the loss will be disallowed as a tax loss".
I am and always have been of the opinion that the Black Fox complex is a company maker. As I think we all know it does take time though.
Big-name US investors take aim at beaten-up energy sector
https://www.ft.com/content/074ac240-16ea-11ea-8d73-6303645ac406
Can CNX Midstream (CNXM) Run Higher on Rising Earnings Estimates?https://finance.yahoo.com/news/cnx-midstream-cnxm-run-higher-172005864.html
Link to the Webinar:
Thanks for the link.
McEwen Mining: Stock West is Growing
https://finance.yahoo.com/news/mcewen-mining-stock-west-growing-110010094.html
Energy Transfer, Shell Release Full Commercial Tender for Lake Charles LNG Project
https://www.businesswire.com/news/home/20191203006016/en/Energy-Transfer-Shell-Release-Full-Commercial-Tender
December is normally the bottom. I know we are not thrpugh December yet, but I do believe we have already bottomed unless tax loss selling
is huge. JMHO
I believe this to be an excellent opportunity.
Featured Presentation
https://www.pretivm.com/Investors/Presentations/default.aspx
McEwen Mining Drill Results for Gibson and Whiskey Jack in Grey Fox Area in Black Fox Complex in Timmins in Canada
https://steelguru.com/mining/mcewen-mining-drill-results-for-gibson-and-whiskey-jack-in-grey-fox-area-in-black-fox-complex-in-timmins-in-canada/553635
December is probably the best time to buy just about any midstream. I do also like that the insiders are buying.
Marcellus/Utica poised for growth as another big shale play slows down
https://www.bizjournals.com/pittsburgh/news/2019/12/05/marcellus-utica-poised-for-growth-permian.html?ana=yahoo&yptr=yahoo