Sanchez Energy Corp. (fka SNECQ)

[hardwoodjoe]

Thanks for your input Doc...sorry to get back late...ive been busy...I used to oversee 33 rigs in the Permian Basin...I still live here but Im building homes now...I currently live in Odessa and have seen booms come and go..this boom has lasted quite a while...Ive done work for Laredo oil ...athelon...matador...and a few others.. I really thought oil would hold up a little longer than it did....I mean the crash isn't here yet but it sure feels like it in the oil stocks...Pundits are calling for 75 oil, the way it looks it could get there...in 08 it got down in the 40s but didn't last long...everybody cut back...I lost most of the rigs I had. they stack half of my fleet...so fast forward a few yrs...most of my rigs didn't come back they were stacked and most companies modified the rigs with top drives...My boss put pressure on me to get rigs back on contract but I couldn't...it wasn't lack of demand it was rig being streamlined and new tech phased me out...I was getting 15k per day and still coundnt get them out...its still booming here but its the big players like H&P that's doing the drilling....I don't know if the price of crude is going to catch up to drilling output...if it does this town could go bust...who knows....Id like to see it back to high 90s so I can recoup my money back...and to see this town prosper of course ....but in the meantime I don't know if I should hold on or sell...getting hammered everyday for 3%...