Wonder if the Hebert May production is only a few days? June production numbers will say a lot about what is happening here.
Very well could be since initial production was reported 5-21
Watching the prices for natural gas and oil I think drilling and leasing are going to slow down to very low levels. It’s hard to make money when your commodity prices are this low. Production has out run demand.
Supply growing faster than demand is the history of shale (and other unconventional reservoirs) and the lack of discipline among the management at mid-major companies is the reason for continuing depressed commodity prices. Only the majors/super-majors appear to have the discipline to manage supply responsibly.
McKowen: 516 BBL oil produced on June 1 report.
Hebert: 2574 BBL oil
Not too bad, good news in the area. Thanks for sharing.
For Hebert, well IP was 206 BOPD and first full month of production avg rate only 86 BOPD. Pretty bleak looking.
What do these results portend for East Feliciana Parish? I hear that a number of leases signed in 2017 with low-cost options are being renewed. Is new leasing activity with new operators entering the play a reasonable expectation?
I'm also hearing of some lease activity in East Feliciana, Carter. We may know something by the end of the year.