Cost SavingsManagement identified significant cost savings of approximately $10/BOE in 2027+ by pursuing the OS&T option, equating to over $175MM of annual savings at 50 MBOED.
Financial StabilityThe company successfully raised $250MM gross in a private placement that significantly derisks the story near-term.
Regulatory SupportPHMSA intends to claim authority from the OSFM, which breathes new life into the onshore pipeline, the preferred path to first production.