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Petroshale 1PSH.v C$1.85

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By Bobwins

Posted: Wednesday Aug 29 7:49:36AM 2018

Petroshale is a Canadian company operating in the Bakken.  Their acreage is in the better production areas of the Bakken and they have a minority interest in many wells operated by big, well financed partners.  The Bakken has quietly come back to profitability as better drilling and completion techniques developed in Texas have been applied to the Bakken as well.  

Petroshale is growing very quickly as Q2 results demonstrate.  Production has grown to 6,350boepd, 147% higher than a year ago.  Operating netback is $10/barrel better than a year ago at C$37/boe.

I have a small position in Petroshale that I bought a few months ago at C$2.31 so underwater now but expect that PSH will continue to grow quickly.  Their wells payoff in about a year and they have credit lines and the ability to raise capital to continue drilling and acquiring prospective acreage.

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