Just another quick frack

Dear readers, you are the smartest kids in class!

Today’s gold star goes to Anonymous Reader who sent me a different Ursa PowerPoint presentation than the one many of us watched on Tuesday. This one was presented at the IPAA (Independent Petroleum Association of America) Private Capital Conference on January 24, 2012, by Matt Steele, Pres/CEO, Ursa Resources.

Here is Ursa’s real strategy unfiltered by PR bullshit.

Ursa Resources Group: Drill or Acquire? Both? Neither?

Anonymous Reader had this to say about Ursa:  “They say they pulled out of the Bakken because they couldn’t compete with the big boys. That’s a message that probably plays well here, it flatters us that our area is friendlier and folksier, but it’s at odds with the message they were conveying to a private equity audience in January. Their message in January was that their strategy in the Bakken was to get in and out for a quick profit, and that they’re looking to do it again elsewhere. They are speculators in what has become a natural gas asset bubble.”

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3 Comments on “Just another quick frack”

  1. Fiona Lloyd Says:

    18 months for them to develop *anything* with the two rigs they own means they’ll have to concentrate on the proven liquids rich wells South of Silt (Gibson Gulch and South Gravel Trend). There’s no time to develop TDC, Battlement or Silt Mesa. Which means those assets will be up for sale again in short order….. just when I’d started planning our future cozy chats!

  2. Peggy Tibbetts Says:

    so much for a CDP — more like a QDP

  3. Barb Coddington Says:

    The companies that come in after the big dogs are notorious for cutting corners to secure their profits. They generally do not have the resources or the expertise to do things by the book {let alone responsibly}. Their pockets are not deep and if something goeswrong,. the business model in the face of expensive accidents would be to declare bankruptcy

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