Oilfield whats your thoughts on the land they acquired in Colorado. I believe I read were the well cost was under $4 mil not sure if that is completed or just to drill. Still to high at these oil prices but way better than the ones in the Mississippi formation.
One other problem is the amount of saltwater they have to handle. They need to come to a agreement with the OCC so they can keep using those 6 disposal well to some extent, don't want the OCC to completely shut the wells down.
I get all that....prolly more on the supply side than the demand side. Thank you for sharing. Now we are going to have readily available oil from Iran hitting the market in the next few weeks providing the inspection findings fall in the line with the nuclear agreement. I also just heard that the GOM oil supply is expected to be flat this year in oil production due to a Chevron and Shell major oil field coming on line soon; the GOM supply has been declining for years so this is an increase in supply for the GOM. Another factor, albeit small, to the supply glut. GLTY.
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