Operator
Thank you. Our next question is coming from the line of Joseph Reagor with ROTH Capital Partners. Please proceed with your question.
Joseph Reagor, ROTH Capital Partners
Good morning, guys. A lot of what I had been probably touched on already, but just one I guess a bigger picture item is that, the 22 well pads you guys have permitted in the Greeley are sounds like it is kind of in the backburner for now. Would that be the next in the queue following Cannon?
Craig Rasmuson, COO
Originally, it was there.We are still evaluating whether we — one of the things we love about that pad is the fact that it is only half mile from the Eaton plant at DCP. We just need to see when Lucerne II turns on and how that affects the whole basin if you will. Right now, the Western flank and Southern tier, again, where Jon just touched on with the acquisition is where we would go as a plan B versus going to the Eaton pad.
The great thing with the Eaton pad and a lot of other things we are looking at in our Greeley acreage and that Northern flank, Marion, if you will, Novels Greeley Crescent is — that is all of that acreage is HPPd. We do not have any — ours is not on fire to get to any of it. We can time it up as this midstream issue alleviates itself over time.
Joseph Reagor, ROTH Capital Partners
Okay. Then following on that, can you give us an update on how many pads and total wells you have permitted right now excluding the Cannon pad and that 22 Weld pad?
Craig Rasmuson, COO
I have not looked at it in here in the last few weeks. As far as looks and process and/or valid permits — valid permits are a few dozen and what are in process is over 100. In process means within 30 to 60 days of it either getting to the state or being approved by the state.
Joseph Reagor, ROTH Capital Partners
Okay. Then one final thing, it is been kind of out of the news now for a while, but with the Blue River in commission, do you think the lower oil price kind of alleviate a lot of the push for – a lot of the step backs and things of that nature?
Jon Kruljac, VP Capital Markets and IR
No. Probably the political, it is still there. The commission has to give the advisory information at the end of February. We are focused on it. There is a meeting next week where all of our employees are going to go to and justify as being within the industry.
I think from the standpoint, it has cooled off a little bit, yes, but we still have to look to what is going to happen in elections in 2016. We are still very focused. The majors in these areas are still very focused. The commercials of educating the populous are out there more than ever. We are going to continue this time not to ignore just because the heat has come off a little bit.
Joseph Reagor, ROTH Capital Partners
Okay. I guess one more thing if I could. I know it’s been beaten a bit like a dead horse, but on the acquisition side, would you guys look more to use additional debt or to use your equity at this point?
Jon Kruljac, VP Capital Markets and IR
The possibility of both just depends on how — it is very specific to the acquisition on what makes sense, what is accretive. So far, we have been able to use our stock. Its currency is fairly effective and it just depends on the specifics of that acquisition, what they require and how it works between the two companies. Are we afraid to issue equity? If the circumstances are there, no, but it has got to make sense. In this environment that would probably be difficult today.
Joseph Reagor, ROTH Capital Partners
Okay. Thanks guys.
Operator
Thank you. Our next question is coming from the line of Eli Kantor with Canaccord. Please proceed with your question.
Eli Kantor, Canaccord
Hey, good morning guys.
Monty Jennings, COO
How you are doing?
Eli Kantor, Canaccord
Good. Can you remind us what will price stack your banks used in the most recent redetermination and just based on today’s script, any kind of preliminary expectations on where that deck might go in future redetermination?
Monty Jennings, CFO
It is a good question. I do not know exactly which deck they used. I know that they came out at – based on our $530 million PV plus they did give us a credit for the Bayswater assets and they came up with $230 million borrowing base. We had some discussion at that time about the price deck. I do not know what they ended up using.
Yes, we expect that to be a point of discussion, it is always hard to guess what the banks are going to do. I do not expect it to be an issue in the near term but obviously, we keep an eye on it. Over a longer period of time that would be an issue that we have to address.
Eli Kantor, Canaccord
Okay. Fair enough. Thanks guys.
