All depends on oil price-not fur BAYP
Have you in mind, what price is needed to get BAYP profitable?
If one has a few plugged Okie wells, producing 0 barrels per day, profitability seems limited: (0 bopd * $N/barrel)-production cost = $0.00 profit.
Ah, but there is the 3.5% BAYP has in the Suppermonger PA well producing ... 4 barrels per day(?). Who knows, the operator was delinquent in their 2014 report to the State mid 2015. What does the US Stripper Producers Assoc (or some such name) gives as the ave profit for a stripper well, and cost to operate? The numbers at current prices is $1800 profit, and a cost of $2000 to operate. BAYP is entitled to 3.5% of a -$200 loss, assuming the Suppermonger well is capable of producing anything close to the industry average.
Maybe if oil went back up to $100, BAYP would get $20/d for their 3.5% Suppermonger well interest. Woo hoo - profitable! And what did BAYP disclose as paying for the 3.5% interest? Oh, that's right, they never did. It was for FREE! At least SHs don't have to worry about break even costs, since the interest cost nothing. Then again, there's no anal-yst in the oil patch that's forecasting $100 oil until well past 2020. We might want to lower the $20/d guesstimate to $10/d. Not quite enough to be able to afford a website.
Still believe the best bet for Porter to stage a successful paid P&D is to team up with Shameberg, and market: Purified Recycled Bottled Frac Water, with Hemp Oil. Shake well before drinking.
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