RE: 22% spread and bid down 0.0522 Dec 2020 10:03
Crusty that is a good supposition but in hindsight, is definitely the "right" thing to do especially if there isn't a current market for the gas as does "seem" to be the case?
I can only assume that the seismic and well data available whilst "robust", was a fair risk to some lower quartile managers, willing to gamble a well location, who also hadn't put their own money in their pockets for such a gamble, whilst there appeared to be an impending need for gas, but for a private (probably better run company) who have definitely put their hands in their own pockets, why not reduce such risks and screw the smaller partners in the process?
"Full" hindsight is a wonderful thing?!
All hail BH.
All imho and dyor.