This seems like a big change in plans. Sending the drillship home until mid 2024? What happened to a new well every 50 days?
I guess Art figures to hold production steady by perforating more zones on existing wells. I don't think he cares about production a few years from now. He wants to max production now to generate cashflow that will fund other activities away from SASB. Got tired of waiting for the market to value gas production. I agree with him but he also didn't wait to see if the market would value net profits. He hasn't really shown profits yet and I also assume he wouldn't be perforating zones on existing wells if they were producing consistent volumes. I think overall field production has been compromised by the different gas pressures so we can't just add up each individual well tests and come up with overall SASB production. We'll get a better idea when Q2 financials come out.
It's clear Art is focusing on the onshore oil field as the way forward. Let's hope seismics are good and the first four wells hit black gold! .
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