That's some darn nice info there, 1581!
-- The assets purchase include an estimated 12.9 billion cubic feet
equivalent ("Bcfe") or 2.2 million barrels of oil equivalent ("MMBoe")
of proved reserves
Makes one really sit back and think about what Hemi has. In comparison, Hemi has nearly identical proved reserves of 2.15 compared to their 2.20 but this is just on Hemi's 5 leases... which have contiguous other leases owned by Hemi. These other leases are multiples the size of the ~2000 acres of the 5 leases. Blanket formations with side by side leases means what is on the 5 leases with the reserves report is likely on their other contiguous leases as well. While I'm not trying to say people should make a one to one comparison of this to Hemi (you can't because of all the other factors) it does go to show that bigger fish are buying up reserves and production in Kansas.
Again, great research! When people begin to put all this together you can really begin to understand why Keith has commented in more than a couple press releases on just how undervalued HMGP currently is and why he believes Hemi is worth so much more than its current market cap (which was not HIS OPINION but rather a statement made based on industry standards for valuation).
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