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Davy Jones Locker.....McMoRan(MMR) possible profits?
Posted on 2/5/10 at 12:35 pm
Posted on 2/5/10 at 12:35 pm
Alright I have a buddy who is in safety offshore for last 3 years on a platform that is doing some big time deepshelf drilling off a South Marsh Island block. Well at about 28000 feet they've hit one of the biggest pockets of Natural Gas this century......Biggest problem is getting the gas 5 miles back upstream and dealing with the extreme pressures(Up to 25,000 psi) and temps(as high as 400 degrees).
The company trades under MMR on the New York Stock Exchange and has seen some big time increases in its stock the last few months.
Trade info
Article info
Is it to late to put some cash in this company? Lets say by 2013 they do start pulling profits from this badboy? This thing could blow up to the 50-60 range.
The company trades under MMR on the New York Stock Exchange and has seen some big time increases in its stock the last few months.
Trade info
Article info
Is it to late to put some cash in this company? Lets say by 2013 they do start pulling profits from this badboy? This thing could blow up to the 50-60 range.
This post was edited on 2/5/10 at 12:46 pm
1
Posted on 2/5/10 at 3:48 pm to L S Usetheforce
I like (and own) MMR and EXXI.
Posted on 2/5/10 at 4:25 pm to pc3232
When did you make the play?
Posted on 2/6/10 at 2:24 am to pc3232
I own EXXI also. I'm up about 100% now, but with the recent developments i think both mmr and exxi will go higher. They should be almost, if not already, down to TD on the well. So we should be getting log results next week hopefully. Lets hope they find another pay interval.
Posted on 2/8/10 at 12:12 pm to L S Usetheforce
august
Posted on 2/9/10 at 12:40 am to L S Usetheforce
How much cubic feet per day is this well currently producing? (Don't worry I already know the answer)
With margins as small are they are now, I really don't see these ultra deep wells coming on line when on shore fields can produce with much higher margins.
With margins as small are they are now, I really don't see these ultra deep wells coming on line when on shore fields can produce with much higher margins.
Posted on 2/9/10 at 7:47 am to Greenspan
quote:
With margins as small are they are now, I really don't see these ultra deep wells coming on line when on shore fields can produce with much higher margins.
The one factor MMR has going for it in this play is infrastructure. They are in shallow water on the shelf and can tie into existing pipelines and platforms instead of having to develop SSA's and long tie ins in the deepwater. They bought out Newfield's shelf portfolio so I'm sure this was a consideration prior to drilling these ultra deep shelf wells.
Posted on 2/9/10 at 2:06 pm to TigerDog83
quote:
With margins as small are they are now, I really don't see these ultra deep wells coming on line when on shore fields can produce with much higher margins.
The margins may be higher currently onshore but the other thing going for it deeper is the amount available. If margins can be increased to that of onshore the deeper rig will have a well that will profit for many more moons than the onshore rig.
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