Watching FXPE after massive stock losses, this news today hits me this way:
Since knowing some about old wells being recompleted, using HAL (which will cost a bundle)like this tells me they are trying to revive and hopefully increase something that initially looked healthy (Spears unit), but soon showed was diminishing in output volume, and this fracturing is one technique to try to restore a loss of potential, and I am not so excited to jump back in and buy FXPE stock after what has happened and all the PR hype for months around it watching Craven selling every week against any gains. I am seeing this as a desperate attempt right now to keep something going that is showing signs of faltering... Because there are many worthy oil/energy corps globally and HAL is not the only one or even the best one on a global scale- They just have $$ behind them and political connections to US government...
There are many reasons the majors abandon wells in past years and there are thousands all over the USA never gone back to for many reasons. I have known generational oil families in Oklahoma & Texas who dumped everything into recompleting wells like this too, and at first things looked good, then soon the product disappeared and ceased to give the output needed to pay for the investment... SO I will continue to watch from afar as I do not trust anything FXPE spews out in their PR's...
