I'm sorry but I don't see anyway that they're going to be able to hang on until they get to 9K bbls/mo, or borrow money, or sell at any meaningful PPS. What I'm seeing in the field, an abundance of half started projects, no rationale to how development is going on just makes no sense. On the bright side, I'm not seeing the number of half finished projects increase so maybe Ellis is getting some discipline going.
The irony is that they should already be well over 20K BOPM, and should have had more than plenty to work with.
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