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re: Tuscaloosa Marine Shale oil well sets record (for TMS) - 1540
Posted on 3/1/14 at 11:49 am to FelicianaTigerfan
Posted on 3/1/14 at 11:49 am to FelicianaTigerfan
quote:
Goodrich did good on the Crosby well but seems to have been doing a lot of experimenting on wells since then. I think they had a plan from the beginning but wanted to test a bunch of different strategies before settling on a method and going all in. Their recent stock fall and unhappy investors may be making them show their hand a little early but only time will tell.
Oil companies don't "test strategies". They go in with a drilling plan they expect to work and hopefully fine tune it. Goodrich is having very big problems and the wells simply haven't been successful. From the sound of things, the problems won't likely be resolved. Goodrich has committed themselves to the play and will likely sink along with it.
That area has always been problematic to drill and that will never change. The only way it can become economical is if oil prices go much higher.
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