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The water flood project on this field has done wonders. There is an excellent water disposal system set up to get rid on the water. As long as the wells have a 1% oil cut, they will make money.
Going through the lease reports, the plugged wells were all completely plugged. All the wells in this field highly communicate with each other. In the mid '90s roughly 50% of the wells in the entire field were plugged because the unplugged wells could still pump the oil. All wellbores in this field are extremely close together as can be seen on the lease maps, or if you happen to live in the area, you would know. A 25 acre lease can have 5 wells on it, so they are pretty dense.
and if he is guilty?
Many of the wells on these leases have been plugged. I highly doubt they will "re-enter" the plugged wells to put them back on production. Now they do have some unplugged wells on these leases which they will probably pull and put on submersible pumps. The fluid level is there on these wells right now since they are all shut-in, so I would say about 20 total wells would be great to bring back online, anything more than that, profit margin will highly decrease in this area.
That is a huge working interest without being the operator of the East Texas wells. Who operates Eagle's wells in west Texas?
Sounds good. I will follow this project closely to see how successful it really is. Best thing to do is follow the production reports through the RRC for accuracy. I will have to try this method on some other wells if it works on these leases.
Can this post get a "Sticky"?
Let's ROLL!!!!!
I understand the story, what part don't you get yet?
If you read the whole story, it does tell you. Don't get some sad that we made so much money yesterday! haha. If you read it correctly, the leases only permit to drill to the top of the Haynesville. Another company can come drill a gas well on these leases and Black Dragon will receive 4% royalties.
It's not that hard to understand.
A leader who can apply his expertise into increasing oil production efficiency and field cost reductions to improve bottom line performance.
close HOD
BDGR... +76% ...
as long as oil is sold, I don't care who the operator is.... don't marry a pinksheet stock.
BDGR... buying pressure still strong ...
Doing good today. Up 68%
BDGR... +68%, chart >>>
BDGR... chart >>>>
BDGR ... plowing into the close +68%
ask at 0.003
More good news. Thanks!
Even better!
What a great trading day so far... Up 59%!
Have some fun and play the stock/chart.... make some money and be happy!!!
back up to 0.018
BDGR... +41% at 0.016
BDGR... 0.017, +50%
The new lease is very promising for some good payouts.
BDGR... CMF, ACCUM, and RSI are rocketing >>>
BDGR... +59% at 0.018, chart >>>
BDGR... 0.018, +59% >>>
BDGR, low volume is moving this thing >>>
wide spread... 0.016 x 0.0194(1), then 0.02
Good way to set the trend to 0.03
BDGR... blasting off mini dip. +71% at 0.0194
BDGR... +72% at 0.0195
BDGR... +68%, moving very easy on LOW volume
BDGR... +63%, 0.0185, chart >>>
you made some money there! BDGR chart >>>>
good call on BDGR. +59%