I have worked for 30 years at the same major indep

I have worked for 30 years at the same major independent, no small E&P experience. However I equate these small E&P startup as if a large independent is going into a new play area. the cycle times I have seen and worked are 2-3 years domestic  -- 3-4 international. This is from land acquisition to first production.

i think TECO will have 20-30 % longer cycle times , because they have much smaller staffs and just can't throw the manpower at it. Just the well permits and surface leases in Texas for TECO wells would normally have 2-3 people chasing them fulltime. That's why they got surprised with the compliance issues.

In Belize they forgot\ did not know the Cardinal rule in 3rd world oil countries. Politics always come first. All 3rd world goverments are questionable, but you have to work with them to keep them happy within the US laws.