Sanchez Announces New 2015 Drilling Budget
Earlier I posted that Sanchez Energy would likely not be bringing a rig into the TMS in 2015. I based this observation on the fact that the news release, linked below, talked about .25 net rigs in the TMS in 2015.
I then went on to spout that this meant Sanchez would only be participating in drilling with others and not actually drilling anything themselves
I screwed up. In fact, .25 rigs actually means that a rig would be in the TMS for 1/4 of the year.
So, I apologize. This is the first mistake I've made since my last one, I assure you.
Which brings me back to the likelihood that the Macedonia unit WILL be drilled at some point in 2015. Studying the news release and the docket of claims I'm not sure now how many wells Macedonia will have or when it will be drilled.
The December docket of the Mississippi Oil and Gas Board had petitions that would suggest that the Macedonia -2 and -4 would be wells drilled, but these applications have been continued and are on the January docket.
So, until these wells are approved with alternative risk charges, I can't see a rig being brought in to drill these 2 wells. And, the possibility of a 3rd well being drilled (the -1) is also in question. Still, the Macedonia is the most likely place to drill Sanchez wells since the site is ready to go with a very large holding pond (probably filled a fair amount by recent rains)...it's just the timing that is now in question.
Here is a link to the news release...see if you read it any differently: