Everyone here probably remembers this from a June 4, 2015 press release:
"We are confident in the macro trend for oil and are bringing this well on-line now because the economics work at today's prices. We continue to optimize efficiency so we can produce and sell oil and gas in the full spectrum of price environments," says Chris Faulkner, Breitling Energy's CEO and Chairman. "It's not so much about price for us as it is optimization. Our lease in the Permian Basin allows us to be efficient, and we will continue developing the field without debt, which gives us the added confidence to move forward with the Company plan we outlined in our first year," Faulkner added.
This was with regard to the Hoppe 63 1. According to public records, the Hoppe 63 1 has made the following:
Date gas, MCF Oil, bbls
07/2015 0 189
08/2015 2000 647
09/2015 3765 403
10/2015 3094 336
OK, now everyone who is willing, predict the ultimate recovery and profit for the well as seen by the investors. Here's my guess:
The well will become uneconomic in mid-2016 after making 3000 barrels of oil with a profit to 100% of $80,000. The well will have paid off less than one-tenth of it's drilling and completion cost.
Now, remember, I said it was a guess, so no one place any bets on it. It's just for fun. It should be evident in a couple of months if I am wrong.
