Trinidad Rig # 125 is on site, located south of Bean Rd in Southeastern Amite County about 4 miles west/southwest of Gillsburg in Township 1 North, Range 5 East

Spud March 21, 2014.

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The E&P industry has been slow to accept and strategize a response to the Internet.  The days of dealing with land/mineral owners who are unaware of ongoing development activities is over.  At some point companies will give up complaining and attempt to manage online content.  CHK attempted to do that to a limited degree here on GHS.  It's a tough prospect to maintain the old ways of doing business in an age of online public records and state O&G databases however it is a fact that must be dealt with.  It will be interesting to see when and how energy companies attempt to manage and influence online content.

EOG was able to keep their name out of the TMS for over 2 years until Kurt outed them on his blog.

Two Dogs:

Who is Kurt?

I do know of a guy named Kirk. LOL

Just funning. Boring after the big 30% Goodrich day.

~ ~ John

It's the 30% up days that have companies like Goodrich wary of the internet.  If the SEC can prove that an Goodrich employee gave info about a well result, like to the local landowner, before the official results then Goodrich could be charged with SEC violations.  If you remember a decade ago, you almost never got a copy of the presentation that companies gave to analyst, now with full disclosure laws most companies post the presentations before the events.

Most of the time the rig hands are just talking BS so that you will buy them a beer.

Anyone who believes what a rig hand says about a well doesn't understand that rig hands don't have any knowledge that is meaningful to the eventual IP results of a horizontal well completed with hydraulic stimulation.

Great, now the employees are taking bribes (yum beer good) and the BS turns out to be golden.  Now with the internet that BS is recorded for prosperity and can cross the globe.  When Heinz was taken private, somebody talked and 2 brothers in Brazil made millions on trading the stock, who then got caught by the SEC.  Now this issue is different than neighbors sharing leasing info.

Just as some people overshare personal info over social media, so do some employees overshare corporate info to outsiders and the internet provides a much larger audience.  Part of the problem is that corporations don't provide the training to keep up with the digital world.

Kirk

I'm not aware of "insider" information being put on the internet, but I am aware of observations of oil trucks being hauled from recent wells producing a reasonable prediction of the well's IP.

Also, basic information such as depth of the drill isn't what I would term "insider" information and shouldn't cause heartburn by these oil executives with being published.

If it does, then they simply need to find them some tums.

Besides all of that, when rumors and speculation are published on the internet, is it "insider" information any longer?

I think not.

It depends on who is providing the info?  You are not an insider for Goodrich, so your observations aren't insider info.  But the secretary for the CEO who tells her boyfriend about the unannounced results from the well flow back is an insider and when the boyfriend posts the info on a forum board the company now has a problem.  Another issue is what is "material info", there are grey areas so most err on the side of caution and report everything in a public manner.

In the vast majority of situations those in the employe of an energy company who "know" don't talk.  And those that "don't know" do.  It is difficult for a layman to understand just who would be in a position to know what.  There were numerous incidents in the early Haynesville Shale days where industry workers in the field seem to conspire to spread rumors as a form of entertainment.  The pool of oil below the shale comes to mind in particular.

I don't think that there is much energy "insider" information on the Internet.  Certainly not on GHS.  There is plenty of speculation and observation.  In industry management those that drill wells don't tend to care much about what gets posted on the Internet.  Those in the Land and PR departments do.  The Internet's greatest impact is on leasing efforts and publicity to drive/support stock prices.

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