Epstein Secrets

ger possible to the same extent. We can observe the resulting slowdown in productivity gains beginning around August in the Permian, October in the Bakken, and in forecast figures for the Eagle Ford in December. A second and more neutral assumption is that the level drilling activity EFTA01476143 r

f 440 kb/d will be extended over the coming months. A key assumption is that rig productivity growth will remain subdued in the major basins of the Bakken, Permian and Eagle Ford as the rate of contraction in drilling activity also slows. This is explained by the notion that a sharper rise in product

xtended over the coming months. A key assumption is that rig productivity growth will remain subdued in the major basins of the Bakken, Permian and Eagle Ford as the rate of contraction in drilling activity also slows. This is explained by the notion that a sharper rise in productivity is only possible a

s. Look for thoughts around potential for further incremental improvements from here, as well as the impact of high density completions in both the Bakken and Permian. • Decision Points for Growth: The key question around a pick-up in activity remains at what combination of price and service cost def

l weighting between our NAV at LT prices of $80/$4.50 and a 9.0x target 2016 DACF multiple. A downside risk includes operational missteps in the Eagle Ford, which will negatively affect growth projection. Forecasts And Rhros Year End Dee 31 2014A 2015E FY EPS 1USD) 4.95 -0.70 Iliyidendyietc11%)

decline statistics by region, lead to the below sensitivities in supply growth. These figures deal with onshore tight oil regions only (Anadarko, Bakken, Permian, Appalachian, Eagle Ford, Haynesville and Niobrara), excluding some conventional and all offshore production. Caveats are that the profile

, lead to the below sensitivities in supply growth. These figures deal with onshore tight oil regions only (Anadarko, Bakken, Permian, Appalachian, Eagle Ford, Haynesville and Niobrara), excluding some conventional and all offshore production. Caveats are that the profile of rig count growth, particularly

is achieving this by halving its rig program from 6 to 3 - two of the rigs will now be focused on its best asset, the Fort Berthold acreage of its Bakken play. The East Texas Eagle Ford play, where the company had previously planned a ramp-up, will now be allocated a solitary rig. The revised product

aintenance capex in the medium term will increase to above the $400 million level. Its other assets -Williams acreage in the Bakken and East Texas Eagle Ford acreage - have considerably weaker economics, which require $80/bbl WTI price to generate a 20-25% IRR. That said, we see the company driving consi