Replies to This Discussion

Permalink Reply by shale player on June 14, 2013 at 9:18

Bill Way acquired his shares at zero cost as part of his compensation.  The reason he has not sold is because the shares have not vested yet.  My sources north of the border (Conway) say that Bill Way is a midstream guy who does not know anything about the exploration and production business and nobody in the field respects him.

Rumor has it that he does not like the economics of the play, and, unfortunately, he might be right about that.  Bummer.

I tried listening to the presentation but had the same problems that other did.  I looked at the slides - looks like the F. Shale is in decline while the Marcellus is still climbing.

Sources in Conway also say that all the other SWN new ventures are turning up all wet.  

Maybe Bill will be looking for a new job soon?

Permalink Reply by tony allen on June 11, 2013 at 7:57

Hi George,

I think Mr. Way was hired after all of the SWN leasing had been done. Seems I remember they hired him in Feb. 2012 after they had drilled the Robertson well in AR. I'm not sure he is in a position to pull the plug on the LSBD. SWN may not have the expertise to crack the code but maybe Whiting and others will figure it out.

Permalink Reply by 2p6y7ycljui0u on June 11, 2013 at 8:07

He did use a good part of his package to purchase shares and he is bought in. As far as Whiting goes, they have a good track record in making plenty where others had problems. They are a top notch operator for this type of deal and people much more knowledgeable about O&G, including mineral owners, than I could ever be say that if Whiting cannot do--few others can. They might have a hard time managing other things, but not exploration. There are plenty of smart people involved in this, SWN and WLL

Permalink Reply by tony allen on June 11, 2013 at 6:54

Obed, at least they plan on drilling 3 more wells and in different areas.

Permalink Reply by obed w odom on June 11, 2013 at 6:59

I agree that this sounds positive, Tony. I wonder if 2 of these are the Plum Creek and Upshaw wells that they have permitted, or if they plan to move further afield.

Permalink Reply by tony allen on June 11, 2013 at 7:22

I hope at least 1 or 2 are in different areas. 1 in AR and 1 in Claiborne and the other 6 in Union. Seems they would want to check out other areas of their leasehold before they come up for renewal.

Permalink Reply by Aubrey C. Sanders, Jr. on June 14, 2013 at 9:30

My rumor mill has it that one of 4 locations to be drilled in Webster Psh.

Whiting did lease quite a lot of land in Webster  over the last year.

Permalink Reply by North LA on June 25, 2013 at 4:13

Presentation today 4:00 - 4:30 if anyone can listen. I won't be able to unfortunately

http://wsw.com/webcast/ghs4/register.aspx?conf=ghs4&page=swn&am...

Permalink Reply by shale player on June 27, 2013 at 12:07

I tuned in today to listen to the tape recording of W. Way's comments.  He mostly spoke about the Fayetteville Shale and the Marcellus Shale operations but he did mention the LSBD.  At that point in the presentation he seemed to get a little nervous as he clearly knows more about the problems they are having than he would discuss.

He also discussed the failed JV closing and said that they were speaking to other potential partners.  He noted that others are going to be drilling some wells so SWN is no longer going it alone in what is proving to be a tough nut. He said SWN hoped to know the future of the play by the end of this year, a year later than previously estimated by S. Meuller. 

Predictably, all the questions from the audience were about the LSBD.  No real answers here that were anything new.  He did say they should have more to say in the Q2 press release and conference call. 

Permalink Reply by obed w odom on August 14, 2013 at 8:58

Did anyone listen to SWN's presentation this morning at the Enercom O&G Conference in Denver?

Permalink Reply by Glenn Kadison on August 14, 2013 at 9:49

http://www.investorcalendar.com/IC/CEPage.asp?ID=171298&CID

Mr. Way sounded upbeat about the LSBD without going into specifics other than to say they would have some results to report on their 8th well next quarter. He admitted to challenges in completing a horizontal in the play and said there was a consortium, inside and outside the company, working on the horizontal completion. He said the zone is 300-500 ft thick in the area and any success in this play will be a "company maker." He said after the eighth well three more are planned and they would extend a plan afterward.

Permalink Reply by obed w odom on August 14, 2013 at 10:19

Thanks Glenn.

• ‹ Previous
• 1
• …
• 5
• 6
• 7
• Next ›
• Page