- Flooding and road restrictions make it difficult to meet 2Q production targets
- Should be able to work through completion inventory in 2H11
- Have continued to move forward with its capital program
- Although OAS had some delays in moving equipment, OAS does not expect a meaningful impact to drilling and completion
- OAS is making progress on securing eighth and ninth rigs for 2H11
- OAS has lined up a third frac crew; they should begin completions in July, 2011
Two observations, okay, make it three:
- no matter how bad the weather is, the roughnecks would prefer this to the winter, I assume
- no matter how bad the challenges in the Bakken are, they do not compare to Iraq, Iran, Libya, etc
- I am impressed with how optimistic, how focused, how outcome-oriented these companies are
Amen to having great respect for these folks! Until you witness the hands on portion of this industry, you can't really grasp the difficulties encountered in this type industry. We as investors, mineral owners, etc. who sit back and read articles and play with dollar figures, sometimes forget what makes this whole thing possible. I have been on both ends and might I say, the on hands end is quite an experience.
ReplyDeleteThe other day I talked to a farmer in the local area and asked what he felt about the oil industry.
ReplyDeleteHe, too, felt the average oil worker was just like anyone else trying to make a living, and, he, too, had great respect for them.
I just spent the afternoon driving around Williston taking photos, and I was impressed how courteous the drivers were, despite long waits at intersections for someone to make a left turn.
It always warms my heart a bit when I see a car give wide berth to a truck who will be making a wide turn; it seems folks are getting used to helping truckers get through the intersections. Of course, they may not have much choice -- smile. Wow, some of those trucks and their load are huge.