Replies to This Discussion

Permalink Reply by DJG on January 7, 2010 at 20:06

Thanks Les, great news. Interesting to hear about that high flowing pressure and that the well is producing strong in that 22-24 MMcfd range with a more reasonable choke than that of the well's IP report. Curious if they had an early reports on their percieved EUR for this well considering the strong IP and continued production.

That well has certainly boosted Crimson's presence in the play.

I sure hope that that their Kardell partner Devon ends up having similar results with the Adams 1-H well that they are planning to spud soon right next door to us!

Permalink Reply by ALongview on January 8, 2010 at 4:34

I also found it interesting that 3 of Crimson's planned 2010 wells will be in Sabine County.

Permalink Reply by jffree1 on January 8, 2010 at 5:03

I thought that was pretty interesting. I just wish they'd go ahead and map them out for us, LOL! I guess we'll know when the permits appear.

Did any of you note, on the Crimson presentation posted elsewhere, the "proposed pipelines" (enlarge the map to 100 % +) extending into south San Augustine and north central Sabine?

Permalink Reply by ogmladvisor on January 8, 2010 at 5:49

This well isn't doing anywhere near 22-24 MMcfd, nor are the pressures anywhere near what has been posted here...and you can take that to the bank. When January 2010 production numbers eventually get posted on the RRC website, you will all be very, very shocked.

All you have to do is follow the money....why are mineral owners in the Goodwin area, 15 or so miles to the southwest of the Kardell, getting offers of $5k/acre (where there is no completed well)...but in the immiediate vicinity of the Kardell, offers have been steady at $1k/acre?

Permalink Reply by ALongview on January 8, 2010 at 6:08

Are you saying the CEO of crimson is not being truthful regarding this info? What is it flowing at and what is the pressure?

Permalink Reply by jffree1 on January 8, 2010 at 7:11

I won't be shocked. Why would they flow a high volume of gas if they don't have to, considering the price of gas for the last four months? Can't say about ftp, since I haven't seen a report yet but I wouldn't call Les B out on this. He's not prone to posting stuff he doesn't believe to be true.

Permalink Reply by DJG on January 8, 2010 at 10:07

I would imagine that the key words in Crimson's report is that those rates were realized in "some initial testing" - which wouldn't mean that they let it necessarily continue flowing at 22-24 MMfcd everday thereafter once the tests were completed.

Would not surprise me at all that they would restrict flow after that testing as it would make no sense to have all that gas blowing out the hole at low NG prices.

Nonetheless, it will be interesting to see where things fall once the proper time has passed and well reports become public knowledge and TRRC has production posted...

Permalink Reply by Cheerleader on January 8, 2010 at 10:30

ogmladvisor,
Read the postings! The offers around the Kardell and SA town are $3,000-$5,000 acre. No one in this area is going to accept $1,000 subsequent to the Kardell. Subsequent to signing of the lease we will not hear from these MO again because they will have signed Confidentiality /Non-Disclosure Clauses which no doubt reveal a much larger bonus than $5,000!!
Is Devon reporting an IP at 30.7 and Crimson updating to 22-24MMcfd to drive the lease bonus up???
San Augustine is hot and you cannot tolerate this fact!!

Permalink Reply by ogmladvisor on January 8, 2010 at 11:25

I never said San Augustine wasn't hot. I never said people around the Kardell well are going to accept $1000.00 (although some will...and some are!). I am merely going on the record, saying that what I believe this well is currently producing would shock many people. And it's not a case of them "restricting flow"....

D. Gaar is correct in his analysis of "key words" within the Crimson report...saying that those rates (22-24 MMcfd) were realized in some "initial testing". So Crimson's CEO is not being less than truthful, you just have to read between the lines.

Permalink Reply by Cheerleader on January 8, 2010 at 14:00

ogmladvisor,
What do you believe the current Kardell production to be ?? Given it is probably going to be, in your opinion, minimal... are you saying that Devon and Crimson have misrepresented the IP, intital testing production and "pressures"? What is your assessment, for the current low production, which is your opinion and apparently not that of anyone else.
So..."shock" us with your predictions!!!

Permalink Reply by ogmladvisor on January 9, 2010 at 4:36

Cheerleader:

I'm not sharing with you or the general public what the rate on this well is, because I don't need to. I have, however, provided the rate to a member here (you know who you are), and I'm sure he will vindicate me when the information becomes public record. And for the record, it's not an opinion. I do enjoy watching you try to "shoot the messenger" if he or she brings any news other than "this is the greatest gas play in the history of the world, my acreage is obviously worth millions more than what any landman is willing to pay me!!!!" I think you should go drill your own well, then you won't have to deal with lying landmen and evil E&P's.

And you should read my postings closer and you can answer some of your own questions. But for you I will state it again: I have never said anyone was lying, nor have I questioned the stated IP rate for this well. I am talking about what is being produced right now, as in today...and how far it has declined (we all know HS wells have steep declines) from the date of the IP.

There's no need to argue, because I know you have no clue as to the rate...so just sit back and relax, have a little patience and wait for them to start feeding production data to the RRC. You will then see that I have been right all along, and that the S. Kardell rate for January 2010 is far lower than you believe it to be.

ogmladvisor

Permalink Reply by 5thGenTexan on January 11, 2010 at 5:27

Reported rates on the Kardell helped when Crimson issued $100 million in new stock and moved to the NASDAQ after the announcement. CXPO was only over the counter before that.

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