Was going to buy back in but wanted to see how the stock finished. The analysts must have been impressed witht the CC(I know I was). They think that when the dust settles, BAS will be a survivor and ready to control much of the domestic market when the market picks up again. The 2 questions...when will the dust sttle and how low will oil go and for how long.
The claim is that they are ccutting oil that they use internally. They run their power plants with oil (one of the few countries to do so) and that the cutback simply reflects they wil be using less. Was interesting to see the Kurds blowing up a pipeling running from Iran to Turkey.
Don't know long it will take, but BAS is getting equipment for a steal, taking over for smaller companies that are broke and will be expanding their footprint during this downturn.
Rec you go and listen to the CC this morning. Compare it to KEG if you want...a company that is worried about going broke and is selling equipment.
Again...where is the bottom in oil, and what will be BAS PPS when it hits it. Can see this company easily back in the mid teens by next year.
Numbers were in ine. They seem to have as good a handle on lower prices as anybody. Question now is simply this. When will oil bottom and what price will this stock be when it does. Did not buy back in this morning...waiting and watching. Bounced off the 20dma ...again.
Seems like this stock moves with the price of oil, but if it's losing over $1 a share per quarter I would believe that it would go down. Barrell goes up 1% BAS goes up 10% , doesn't seem to have any rhythm or reason?
The feel is that this is the day....holding near the 20dma. Would post a chart but the di*kheads at Yahoo not allowing URL's.
No more real oil on the market for at least 9 months
Middle East falling apart. , and with it 1/3 of the worlds oil supply
Yemen striking inside Saudi Arabia, reasy to take key Oil Port
Egypt Sinai (borders on Saudi Arabia) ready to fall to ISIS
ISIS hates the Saudi Royalty
Kuwait Car Bombs
ISIS bombing refineries
Iraq, Syria basketcases
Other places-Venezuela, Nigeria- no rule of law. Mexico so corrupt they are importing oil from the US.
This time it is different...the wild card being ISIS which thrives on unstabillity. Nobody doing anything to really stop them.
Then we other bad actors on the stage...hoping for a general Middle East War. Primary among them Russia.
When the MidEast Falls apart- the rest of the world will be required to pick up the oil slack. Primary will be the US and Canada.