Probably Undeveloped

The problem with shale isn’t the economic viability of the rock. There are thousands, if not tens of thousands, of well locations (yes mostly in Permian) that will generate a half-cycle return of >40% IRR. The problem with shale are the companies that operate in shale.

@ctraywick The entire central United States used to be covered by an ocean during the Cretaceous time period. We may be doomed but the earth will be just fine for at least a few more hundred years.

@RobertLBurns61 Go look at results of all of EOGs stateline acreage

@PUndeveloped Can you give us ex of shale operators that have done what you suggest? If you will give us those & examples of leases to look up, that would be great. I would like to believe you’re right, but the evidence I’ve seen says otherwise. How many wells/zn to drain 1280 ac stand-up unit

The problem with shale isn’t the economic viability of the rock. There are thousands, if not tens of thousands, of well locations (yes mostly in Permian) that will generate a half-cycle return of >40% IRR. The problem with shale are the companies that operate in shale.

@wrbailey8 The carbonate debris flows coming from the CBF are wreaking havoc on the porosity and overall rock quality of this position. I know Abraxas has drilled a few good wells but it’s going to be hard to drill consistently economic wells in this geology. Just my opinion.

Please see our recently released letter to Abraxas Petroleum's Board of Directors. $AXAS

@wrbailey8 I commend your efforts with Abraxas but I would disagree that you don’t have an asset problem. The central basin platform line drawn in this presentation is way the heck too Far East

@johnarnold Schultz said he won’t run if Biden is still in the mix

With the primary field about to thin and the moderates failing to inspire, perhaps there's a path for Bloomberg to enter the race after all.

@PrydoBert @EnergyCredit1 I’m not sure why all you analysts are following this company from your cubicles anyways

@PUndeveloped @EnergyCredit1 I didn’t know NGLs were expressed in MCFs rookie

@PrydoBert @EnergyCredit1 Companies using two stream reporting will often roll their NGL realizations into a $/MCF.

@chigrl Evercore was locked out from publishing analyst research because they were on sell side of the deal representing Anadarko

$OXY >>Occidental's deal for Anadarko 'destroyed value,' Evercore says in downgrade seekingalpha.com/news/3490630-o…

@johnarnold Stupid kid could be doing more important things with his life

Though initially reported as "good guy with a gun stops massacre", the heavily armed man may not have done anything illegal as he had open carry permit. This case will be fascinating to watch as it raises so many questions about open carry laws. huffpost.com/entry/armed-ma…

@anasalhajji What is your -400 based on

In case of a global recession, global oil demand growth will go from +1.1 mb/d now to -400 kbd. OPEC+ would cut production by an additional 2+ mb/d because forecasts will point to higher decline than the 400 kbd mentioned above #oil

@EnergyTobu @anasalhajji Welcome to Texas.

@anasalhajji I don’t understand how so much flaring is permitted or economical

Although we have heard this story before, it is still stunning since $WLL reported similar declines (or worse) from North Dakota and Colorado, but $ESTE is in Texas! #Crude_Quality_Matters #Shale_Quality_Matters

@EnergyMatters3 @MichaelScottCap @HS_512 @EnergyCredit1 Of course. Didn’t notice that

@IvanBROsky @HS_512 Founded by a geologist. So at least they understand rock.. well better than some anyways

@MichaelScottCap @HS_512 @EnergyCredit1 Yea well that’s true

@PUndeveloped @HS_512 @EnergyCredit1 Yes but they would know to ditch the corporate jets, quit overcompensating VPs and Executives, drill a few less wells, pay down a little more debt, quit the false advertising in investor decks. Be ok with <5% production growth in a tough commodity tape, etc.

@HS_512 @EnergyCredit1 The reason you don’t see much activism is because an activist doesn’t understand rocks. An activist can understand widgets.. but most activists don’t have technical teams to understand E&P.

@BurggrabenH @liamdenning @markets @bopinion That YouTube video might be one of the most refreshing things I’ve seen in a while

@liamdenning @markets @bopinion Liam is a good writer, but I am afraid his stepping out of his circle of competence in a big way (!) which is unnecessary. Oil, gas, renewables, climate change, each topics takes years to understand. Article is full of shortcomings, not even funny. m.youtube.com/watch?v=9xe3BW…

@WillRayValentin @chad_angry I’m not sure you know the definition of a Ponzi scheme but I’m sorry you invested in shale two years after it was discovered. You’ve really experienced the growing pains.

@chad_angry You won’t have to worry about that my friend. Plus if you only raised a little $4Billion fund then you probably weren’t that successful investing/selling poo poo companies to begin with.

@PUndeveloped Ok then Mr. smart guy, how else am I supposed to deploy $4 billion dollars raised every two years?!

We must develop these assets, slowly, smartly.. understand the science behind spacing and well interference. Stop exaggerating to investors about the future of “manufacturing phase”. Reservoirs have always been hard and will continue to be. Cut overhead. Slow down. God bless

Now, instead of taking their medicine, reducing G&A (mostly their own pay) and just being honest with shareholders about the complexity of their assets, they are personally incentivized to perpetuate the story. Investors have lost faith and rightfully so.