Good day to metafamily wherever you are.
So today I'm driving into work with the radio on, and they do the daily news section. I work in the Canadian oilfield so oil related news is fairly common. The news basically said that due to an uptick in earthquakes in Texas that the Texas regulatory body was stepping in and shutting down some of the drilling taking place until further notice in the Permian Basin specifically.
I know that our assets are in the Orogrande, but I'm curious if anyone can make the case for this being a positive for us.
Conversely, the negative implication is that with drilling being held up by the regulators that it could further hold back the sale, or if not the sale then at least the value, of our assets for fear of a similar fate. That is of course when we spin-off
Been holding since the merger, and will continue to hold, but would love a dose of hopium.
Hi Vitards,
First post and it's on a stock that I think is ripe for take off - PBT!
I've got a small position in Permian Basin Royalty Trust (couple thousand shares), but it looks to me as though cap-ex is finished on Waddell Ranch and the trust will be spinning off approximately $15 Mil in distributable cash a month at $80/oil - that's roughly $3/year in distributions on a stock trading at $13/share.
Check out the December 20th monthly distribution/update based on October production and pricing: http://www.pbt-permian.com/news_releases/PBT_December_2021_PR_.pdf
Good luck bulls! JB92
Basically title. In the entire permian period I can't find any example of large amniotes which adapted for a fully aquatic lifestyle. Has anyone else ever wondered why it took less than 8 million years in the triassic period for diapsid species to evolve fully aquatic marine lifestyles, but we have no example of synapsid, diapsid, or parareptile being fully aquatic and marine, let alone attaining large size during the Permian? In the cenozoic, it took around 15 mya for a fully aquatic lineage of mammals to appear, so the lack of marine amniotes in the permian is even stranger.
There must have been some ecological pressure to prevent such animals from evolving, or at least being common.
Or are permian marine strata just too rare?
Alright, so I just found this lecture by Mark Armitage about some supposed soft tissue found in Permian amphibian fossils. Specifically, he reports liberated osteocyte cells, liberated tendons, fully clotted vessels, clot canopies, liberated cells, liberated nerves, lipids, and chondrocytes. I couldnβt find much relevant information outside of this video and the sources it cites in the description. Does anyone here know if these claims have any validity and, if they do, what a possible explanation could be?
A group of 100 people with average intelligence and basic survival skills are transported to the mid Permian period, can they survive for a long amount of time?
Iβve been super interested in the Permian- Triassic extinction recently and Iβd love to learn more! So far Iβve read Gorgon and Iβm making my way through When Life Nearly Died right now. Even books about Permian fauna would be awesome, thanks!!!
News Link: https://www.otcmarkets.com/otcapi/company/dns/news/document/55887/content
MDM Energy, Inc. the wholly owned operating company for MDM Permian, Inc., has today announced that work has begun on the Brown #1 well re-completion. The well, in Nolan County, Texas, was originally drilled by North American Drilling Corp. in Oct. 2014. Brown #1 was perforated and completed in the Ellenburger formation at a depth of 6578 to 6590. The zone made a small amount of oil and turned to water. MDM believes this was the result of perforating the entire section instead of just the top four feet.
During the week of December 13, we had a Permian Services rig at the location to remove the rods and tubing. This was in preparation for PSI Wireline to set a CIBP (cast iron bridge plug) at 6530 ft. to plug off the previously opened Ellenburger. PSI then set about 20 ft of cement on top of the plug to satisfy RRC plugging requirements. The hole was then loaded with water in preparation for logging.
PSI wireline ran a Gamma Ray Log, CCL (collar locator), and Bond Log. There appears to be a good cement bond across the Strawn section. We then had PSI perforate the Strawn at 6314 to 6327 with 5 shots per foot. The Strawn, at this level, calculates to an average of 19% SW. This means there is very little chance for water production. The Ellenburger calculated as high as 40% in the lower section.
After perforating, Permian Services rigged up to run the tubing back in the well and swab it dry. The first run had a good amount of oil on the front end before returning the water that we loaded. Natural Gas continued to bubble up as we continued swabbing. The well was swabbed dry and shut in to await the fracking of the Strawn. Seven 500-barrel frac tanks are on location and loaded with fresh water in preparation for fracking.
Flying A Pumping Services has been contracted to pump the slick water frac. They will pump 118,880 gals of slick water with 145,000 lbs. of 40/70 mesh brown sand. Due to the holidays, scheduling and crew availability concerns, the job has been re-scheduled for January 18, 2022. The well will sit shut in and on January 17, Permian Services will rig up to swab the well dry for the frac. NuTech Energy has done the Advanced Reservoir Characterization for this well, as well as assistance in designing the Slick water Frac.
They have advised us that a successful frac could result in
... keep reading on reddit β‘