Blackbird Energy (BBI) hits big well
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Posted: Thursday Jan 26 10:40:29AM 2012
BBI.v -.025 to C$.19
Appears to be some doubt in the market about the results of the 2nd well. Market is expecting 2,500boepd with good NGL %. To disappoint, I would think the well has to come in below 2,000boepd. Plus the value of BBI.v is in the 25% WI in the 7 sections of land. The future appears good because their first well performed well and other operators surrounding BigStone have done very well. One of those bigger operators is going to want to add 7 sections of land to their drilling plans.
Holding my long term shares as well as some I bought on spec for the well #2 drill results.
Posted: Thursday Jan 19 7:55:08PM 2012
Has anyone done an analysis of which of the 4 companies in this resource play has the better metrics. The area seems to have a nice sized pool. Who benefits the most?
Pennant, Blackbird or Delphi?
Posted: Thursday Jan 19 1:15:40PM 2012
Thanks for the headsup Doren. I bought a few more shares of BBI.v. Probably trade these shares if there is a nice pop from BlackBird. Sure hope they get these wells hooked up before spring breakup. Even this first two wells should make a dramatic difference in Blackbird production and cashflow.
Posted: Wednesday Oct 26 12:27:05AM 2011
I wonder if investors are worried about the equity raises that Blackbird will have to make to gather their share of the cash. The JV is going to drill longer horizontals so the next well and each one after, will likely cost more than the first well.
The next well may happen before Blackbird has a chance to get much cashflow from the first well.