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Well, at least OPEX was more than cut in half. Need to get revenue back up with an OPEX level like that but it's only low bc low utilization. Numbers don't lie.
Williamson is interim. Need to find a good CEO with some experience in making money.
*that should have been 88.5k boed net to Chevron
I don't know but sounds possible. Good info. To bring on 177k boed gross/ 85k net, chevron could afford much more than $50m in subsea kit. Those type of numbers out there in the seas keep me in this stock. From the dpdw cc it sounded like there was a NHU order in the works with somebody in GoM
"With a handful of major oil companies set to start up new projects in the Gulf this year, production is set to surge by 15% to about 1.5 million barrels of oil a day, according to energy consultancy Wood Mackenzie."
I'm not sure. A lot of rumors on other boards. Corruption, pipeline, acquisition via dilution, wade getting a divorce?...somebody knows but not retail guys like us. I added a few more at 1.129....pure gamble, willing to hold long term
Gasfrac is main feature in June JPT magazine. Blackbrush data is published and shows favorable results. This magazine's audience is primarily petroleum engineers for operators.
Not sure what's driving the stock price action lately but I like it. Still believe in the technology but only where it makes sense over conventional water-based fracs. ie. it is not the best solution for every reservoir. However, I think it has survived infancy, is fighting through some LPG as a frac fluid industry pessimism, and will have a place in the oil industry in the future and that will be a big win for shareholders long-term. IMO
Wonder how much they can fetch for a Non-Helical Umbilical. Also wonder if that was the project that shut down the cameras. I don't think those are coming back.
I figured there wasn't much on the web. The cameras were always good for a quick check-in but those are prob not coming back. I won't care if they are silent as long as they make some noise with the 10k.
Spec, we are in super sleeper mode here. You and V-ger got anything?
ps. I've long wondered but does your screen name stand for speckled trout catching machine?
Sold my position today. the merger was intriguing but I just didn't want to wait it out and too many moving parts for me to get comfortable. I'll continue to watch. Good luck!
This has been an amazing ride. Does anybody have a summary of dividend dates? ..not just pay-out but at what dates you have to own to be eligible for next cycle? I'm not 100% clear on how that works and I'm wanting to move some more money here as soon as I can.
I was playing the one-well-stock-flip game and technically lost as the well was a failure. However, it looks like I will not be penalized for it in the short-term as I was able to sell some at 0.14 after the news. I'm not going to place another sell order immediately as it looks somewhat supported at this level. I doubt the recompletion is the reason and suspect the looming merger is somehow providing the base. I am wary of the merger as I just don't trust this size company to look-out for the shareholder...but I guess you never know. I'll cautiously hold and watch next weeks action.
Regarding this post, I was a little early but this strategy paid off. I added some more closer to bottom. Now anything sub-2.00 is shining.
Also of interest today, other than the stock price action, is Ukraine's announcement of agreement with Shell to develop their shale...I don't have link, it was via the financial times
Quite a run since the post I'm replying to....not sure what is up exactly but I like it. I feel like it is more than just some insider buying and analyst upgrades or new CEO. It could be be ecorp related but there are no real details on that.
I agree with your estimate of 45-50 days from spud to flow test, especially for a hz well with a TD of only 11,700'. They may have to wait for a frac date depending on activity level in the area. 50 days from Dec 18 is about Feb 6. I expect to hear results by mid-Feb for the well. It could be sooner IMO if all goes well and they release initial production after only a few days. If they want to sell shares they'll release the first day IP and not a 30-day avg IP.
I got on board today in the same range. However, not so much as a play on aoil deal but speculation that the horizontal well will be a success. I am not looking long term at the moment but maybe I'll change my mind.
Yeah, they are not in great shape...hence the layoffs. I'm more long term betting on the technology. I work in the oil patch and the frac technique is legit but water is just too cheap right now to compete. Why buy propane when water works as a frac fluid base and it's cheaper? Propane has some environmental, trucking, and, in certain reservoirs, a well-productivity advantage. In future I think they get more opportunities in N America and it has worldwide potential (see world map of shales and current foreign frac moratoriums). Unfortunately they did not expand at a realistic pace. You could say they outkicked their punt coverage with all theses spare sets and they got burnt for it. I hope they get bought out or sell part of their technology license for US and spare equip to improve their current financial situation. At very least I think they will go back to lean and mean and survive to see the future.
Yahoo board is...not a source I trust.
They say not to catch a falling knife but I did so today with this stock. The US expansion has been a disaster but I think the core, post lay-off company should be able to survive....although it is reliant on Husky. I'm actually banking on managment having released conservative estimates for 3Q so they actually beat a target for a change on Nov 7...but buying before stabilization is risky IMO....I just felt like gambling
I got my op to double down under 1.50 as previously stated and did so at 1.39...the divi alone is 14% annual return at this level. After reading up, rough Q but most of that (line losses and acrual swings) not signs of long term weakness IMO. The story still holds and the story is about a lot of oil in place.
Was market looking for 0.1 per share instead of 0.05? Or was there another reason for 14% haircut?
Spec, you getting any interesting pings off Bornemann Pumps? Been wondering if that is a substantial relationship for DPDW or was just a warm and fuzzy PR?
have been waiting for a pullback to double my position....again. the only thing that could derail this train is a geopolitical meltdown in the region.
i'm looking for 1.50 but it seems to be well supported where its at now.
sounds about right, i had thought C3 would have been shipped out by now also but i havent really been following things closely. the carousels arent exactly flying off the shelves. i thought ron had indicated a lot of quotes out on them at beginning of year but no announcements on that front. however, i guess they are limited to how many they can churn out with their facility anyway.
all-in-all, they look busy and should make some money 2nd half of this year with projects they've announced. it still remains to be seen if/when they start making money if shareholders will reap some of the reward.
Spec, you know what giant blue carousel looking thing is in east yard? Are they building a carousel on-site?
The reverse split scared me so some volume here is encouraging. Also some interesting activity in east yard at the moment. Loading something for shipping...
Saw a billboard for EMAS in Houston a few days ago on 59 N of town. I hadnt noticed it before so it might be new.
Looks like the carousel has left the fab shop...prob off to get painted.
I enjoy seeing my DPDW holding back in the green these days! I'm ready to see a few strong quarters and this back over a dime!
I'd sure like to sit down and have a scotch with ole v-ger. Does v-ger know how many engineers DPDW has on payroll? The hiring of more engineering power would be a very good sign for us.
The $4 hedge on nat gas is great considering current prices. When are 1q results expected?
Are they currently working over any wells or performing any facilities upgrades that are expected to increase production in the short term? There were notes regarding work on #3&4 wells but it might have already been done based on the note I am responding to.
I like this company but am patiently waiting for my entry point. I'm wondering if any news is expected soon that might be a catalyst.
I told myself i wouldnt get excited until they landed an order over $10mm but this was a respectable order. Not just bc of the $ amount but bc pipeline safety system design, fab, and installation is a new service for Deepdown. It also helps add credibility to their recent entry into the subsea pumping partnership imo. While they have made some mistakes, they have also shown to be creative and opportunistic. They are a fab shop with some real engineering skills and one which plays in a trillion $ sand box called the offshore oil business.
Bummer, I'm gonna watch tmrw and look for an opportunity to double-down. Still a believer long term...ie for a 1-2 yr investment. Very volatile on day to day
yep, great well to go with all their other stellar wells. usually you end up with a few duds as you test the boundaries of the formation but that is not the case here. updated reserve reports should be fun with new productive sands.
When are 4q earnings reported?
Some good bull being talked here. Deepdown and time. That's all we need. Wait, I think I said that 2 years ago.
that is interesting. i like it.
link to Bornemann website with a summary of their subsea business.
http://www.bornemann.com/subsea-en/
I like where your head's at!
Any dates to look out for wrt this stock? 4Q results, reserve report, etc?
That is huge...not bc of BlackBrush but bc the contract helps lock up equipment and proves the technology. There are a lot of people in the industry sitting on the sidelines with this company and stimulation technique. This should help get some attention.
UBS downgrade killed that rally. Still up a few % though on the day. Unless they blow up a frac fleet this is going over $10 at some point in the next year. IMO
With today's continued rise, I think something else must indeed be in the works...
Nice day. Quicksilver (KWK) released 4Q results and stated that GasFrac stimulations were outperforming other techniques in the Nibrara shale in CO. That is all I could find for todays rise. There might be something else going on...