Are the big O&G players running out of capital?
I heard today that some of the big players i.e. Chesapeake, were running out of capital because of leasing up so much acreage in the area and that they were going to stop leasing and start drilling to raise capital. The person I was talking with said they were told that it would be after the first of the year before they would get their leasing bonus.
Anyone else hear anything like this?
Anyone else hear anything like this?
Views: 303
Replies to This Discussion
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Permalink Reply by RL on
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I have heard the same thing. Makes sense. Drilling will allow them to get more capital to be used for additional leasing.
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Permalink Reply by ETOilman on -
Petrohawk just issued 25,000,000 new shares today up for sale. Their stock has also tanked around 50% in the past few weeks. So they probably do need to raise some capital to handle the initial costs of this play. I have also heard through the grapevine that they are going to limit some of their acreage costs to $15,000/acre max. Hearsay only.
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Permalink Reply by KT on
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Yes 25mm shares at $26 per share will generate some capital. Though it would have been better if it had stayed high I think it is time to buy some more. Don't see how I could lose. They can buy a number of driiling rigs if they can find them. I'd think that would be the problem. Demand for rigs is probably high. UDRL is also down. Don't have any idea what that means. Anyone give an opinion on what this means for the big players in our OG enterprise? Clueless here. (Just saw UDRL up after market close)
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Permalink Reply by D T MORRIS on
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Wait up folks. This is CORPORADO America you are dealing with, where capitalism means conniving, cheating, illegal-dealing rich guys whose motto is greed, greed, greed. Of course, they are going to try and convince you that they will not be leasing anymore until well into the drilling phase. That gives them the chance to play out their deceptive lower offers on a lot of people. So ... they will keep the other operators out ? So they buy, or no one buys ? Perhaps the parish DA's better start looking at the "covenants not to compete" which these major players started signing in the area with other operators 7 years ago !
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Permalink Reply by Dorcheated A1 on
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DT
Do you for some reason believe that Socialist and Communist goverments don't have as much or many crooks as we do.
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Permalink Reply by Snake Stewart on
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Hello D T Morris , Would you be at liberty to expound on this last statement.
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Permalink Reply by po boy on
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One has to wonder how all the $300 dollar a month Russian Generals and politicos end up with millions in Swiss bank accounts, in the great equal workers paradise.
I am thankful to live in Corporado America where whe CAN own our land and mineral rights.
I LEASED a ranch in Mexico (illegel to OWN it)- when oil was discovered in Baja California the American Leaseholders, some who had built multimillion dollar houses, were given 24 hours to vacate. Those who did not were escorted out by the Army. God Bless Corporado America!
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http://www.agelio.net/lease-bonus-information
July Vs August bonuses paid from national database that Should sponsor {HINT} this site.
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The Barnett play is a less valuable find than Haynesville. The president of Chesapeake said this . They have punched test wells around the perimeter of the Haynesville play from E Texas to up in Ark to Ruston and S to almost Alex and they all are heavy volume producing wells. The volume and pressure for Haynesville is 3 times or more than Barnetts. Barnetts pressure is measured on a non restricted choke and Haynesville is on a restricted choke. As far as capitol goes they are doing fine. Dont you think that there accountants would tell them to cap off lease bonuses at the beggining of the play to have enough capital for buying up everything they need. And you can bet that some land men are responsible for starting this low capital rumor. If someone would check they would probably find that this same rumor got started with the other shale plays in other states. A landman would be a fool not to start this kind of rumor. My attorney compares these land men to Easy Charlie the used car salesman. And with this much natural gas at this much volume and pressure just waiting to get tapped with a 75% earning they are sure to have great credit. Its like borrowing money against land or gold. They may hit a bad well way out on the far perimeters of the Haynesville play but you can bet it will not happen in Caddo Bossier or Desota Parish. Again just read the story that The Times wrote about the president of Chesapeake speaking about the merger of a production company "PSX" ? and Chesapeake during a confrence call about three weeks ago. It will let you know how things are going. If they were running into capital problems they would not be offering $20K / 25% in the last month. On July 28 someone signed for $20K/25% in S Caddo . Whats that old saying , Good things come to ,,,,,,,,,
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Someone replied saying that there have only been 3 or 4 wells drilled in the Haynesville Shale. There is a link on the main page with the merger of Cheaspeake and the story from its president. He says as of July 1 2008 there have been 70 completions in the Haynesville Shale .
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If they have 70 completions, and no product has made it to market, no money has been made yet on a $5 million a hole investment. Thats a lot of money tied up. Real money- not paper estimates for investor relations.
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Permalink Reply by Gone Fishin on
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$ worth of reserves. theres a lot of $ worth of reserves in the ground. the value of that is big money whether it is pumped out or still there. Proven reserves is the name of the game.
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