Probably Undeveloped (@PUndeveloped) profile picture

Probably Undeveloped

@PUndeveloped

Just an old-timer talking E&P. Posts are not investment advice.

Joined June 2019
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Photo by Probably Undeveloped (@PUndeveloped)Photo by Probably Undeveloped (@PUndeveloped)Photo by Probably Undeveloped (@PUndeveloped)Photo by Probably Undeveloped (@PUndeveloped)
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.
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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.
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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
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