Figured I should put this post here too (put it on VMC already) since I talked with Tammy (CFO) briefly a couple days back, she still didn't have any solid info from Chesapeake on flow rates or when the 2nd and 3rd wells might get fracd and brought online. But I'l llet you know when and what I hear when I do:
has anyone done any DD on this one or am I alone so far? Was hoping to get both good and bad feedback to check my thoughts on the company with it being my trick pony #2. It helps to get input from the highly knowledgeable crowd here:)
PS- talked to Tammy and she mentioned something to the effect that the check ($) from the one Tarrant Cty well was good. She obviously can't give specifics and unfortunately I don't have any independent checks to figure out how reliable her statements might be. But judging by the integrity of the people involved on the board, I would hopefully rightly assume she'd be pretty forthright. They apprently still only have one well flowing though. Not sure why, maybe it ahs to do with CHK having limits on how much gas they can store in ground and so maybe they would hold back production? But gas storage #s have been light so I doubt that's it. Maybe they're thinking of doing a twin-frac to stimulate the contiguous wells simulataneously (I guess it has been shown to be more effective in boosting production)? Just a couple guesses. Looking at the Barnett East field, I didn't see the Viola lower layer to be too close so I would think water entry risk would be mitigated.
Good luck.
I don't mind stealing bread from the mouths of decadence... But I can't feed on the powerless when my cup's already overfilled.
-Temple of the Dog
"We didn't build this company on the sniff of an oily rag."
-Anonymous
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