Imagine: You are Gloria Moncrief, you are on the gondola skiing in Aspen while entertaining family at your Gunnison ranch. You just celebrated Christmas and the New Year; your cell buzzes. It's Magnolia O&G's successor CEO. (He followed Stephen Chazen (ex ceo of OXY, he paid $52m for Highlander #1 Well)). He tells Gloria the well had a bottom hole intrusion event.
Magnolia is focused on Haynesville winners and wants no more involvement in the Highlander. They basically give it away and take a $15 million writeoff on the next quarter books. They never mention it in their earning call either.
Feb 19, 2023 • 28 tweets • 4 min read
Here is the deepest and highest pressure gas well basically on the earth. Drilled by Jim Bob Moffett. Owned now by Magnolia O & G, Montex Drilling & Cox Oil.
Located onshore St Martin Parish Louisiana
Feb 15, 2023 • 4 tweets • 1 min read
Well, I've put on hold my Magnolia O & G $MGY & $GULTU tweet storm for the moment. Read the call transcript and no mention of Highlander. It's all whispers...
I will just sit and add to my share position. MGY is very well run. I am bullish O & G. However, regarding the Highlander Well whispers/hush/hush can mean two things:
