Its the second time in a few years, and they dont get to accomplish anything in between the sh#tstorms. The insurance money is probably the only reason for Tau2 to spud relatively fast. The additional funding could be the 5% of Tau that Gspe got from txso, if Delek also wants things to move. Equity dilution of any kind will be too horrible for the Gspe-team to accept. Even if Tau2 is a hit, Corvette is probably not going to happen this year if ever. If Tau2 delivers the value will be massive, from todays 10m to hundreds of millions, and this change is so spectacular that I have trouble thinking it will happen. Delek and other companies will keep drilling, they know these prices are not sustainable, and assets with 20usd break even will work excellent long term, but they need to watch their balance sheets.
Gspe might survive also this time, but what about their leases? Anyone having a overview with current leases and expiring dates?
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