He thinks further downside is limited with news flow increasing on carrier roll out of LTE networks, which theoretically should trigger a boost in sales of 4G wireless modems.
The wells tend to generate 20% annual returns on capital invested, he said, but they also tend to decline at rates up to 80% in the first 18 months, meaning companies that want to show an increase in production must roll the cash flow into an expanding number of wells to stay ahead of the decline.
Michael Wilson, a noted director of Foote and Tennessee Williams, lets the words and action flow with a genuine gentleness and respect that allows each eye roll, shuffle and sigh to have its maximum impact.
But post Macondo, Uncle Sam made MMR roll the rig back out of the way and close off the well before a flow test could be completed (No longer a requirement).