Wrap – Week Ended 1/06/12

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Comments will be included in the Monday post, have a good weekend.

7 Responses to “Wrap – Week Ended 1/06/12”

  1. 1
    zman Says:


    Speaks at BMO Energy Conference on Tuesday,

    Should have their first publicly available presentation out Monday night

    Trading cheap on grossed up 12 months EBITDA, price to flowing barrels and price to reserves in the ground.

    Niobrara primarily but in Wattenberg, so not the exploration stuff to the north

    Production should be about 60% oil

    Producing over 6,000 BOEpd in November

    $250 mm ish budget for this year

    Have > 5,000 acres in close proximity to COG’s first Brown Dense test in southern AR that we should hear something on any day.

    Came public at an unfortunate time (Europe, end of year stuff clouding the picture and causing some managers to cancel their orders just before the offering)

    We own a starter position at $13.10 from early this week.


  2. 2
    tomdavis12 Says:


  3. 3
    zman Says:

    re 2 – thanks. Sand shortages … not ceramic shortages.

  4. 4
    zman Says:

    Crude holding pretty flat just over $101 tonight, 5 point dip on the S&P fut.

    If anyone has a link to the BMO and Goldman Sachs conference schedules/webcasts that would be great, thanks.

  5. 5
    crysball Says:

    The Upside of a mild Winter

    While the impact of a mild Winter may be adverse to demand for Natural Gas and Heating Oil……is there not an upside to the mild Winter with improved drilling conditions[productivity), and the ability to buildout infrastructure ?

  6. 6
    zman Says:

    Re 5 – Absolutely. I spoke with one of our Bakken names on Friday, inch or two of snow on the ground in North Dakota, a world of difference in weather between 4Q11 and 4Q10 weather so far. No delays in fraccing, no delays drilling, no interrupted production. So far, so good.

  7. 7
    zman Says:

    and this map shows nothing on the ground now


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