Many executives say that the crude oil blends being created in Cushing are often substandard approximations of West Texas Intermediate (WTI), the longstanding U.S. benchmark familiar to, and favored by, many refiners in the region.
Typical light-sweet WTI crude has an API gravity of about 38 to 40. Condensate, or super-light crude that is abundant in most U.S. shale patches, ranges from 45 to 60 or higher. Western Canadian Select, itself a blend, is about 20.
Convertible Pfds are a way for companies to raise capital for their businesses. In this case at 6%, and with a conversion way out of the money. There is almost no possibility of conversion, in fact i hope they do convert, because that would mean the stock would be trading at a price double than where it stands today. Whoever bought( you say the select few who were paid off by PVA) this preferred is losing money big time because the pfd is worth probably half what they paid for it, yet they get paid only 6% a year. How does this benefit Soros? Please explain. Again, you need to learn about this stuff before you comment about it.
242 and 17f....you guys are kidding right? If you are actually serious about what you just posted about the PVA dividend declaration then you really should not be investing in stocks. Please do yourselves a a favor and read the basics about stocks, bonds, dividends, ex-dates, defaults etc.... You are just embarrassing yourselves by posting this stuff.
They definitely are shopping the company. Stock has held up strong this past week despite oil hitting new lows.
Still doesn't make sense when looking at the whole sector. On Friday, oil was up four bucks, the dollar tumbled, short contracts expired, and NG held pretty steady. Ordinarily, any one of those factors would have caused a substantial rally. Yet, flat it remained. The only thing I can guess is that the rally on Wednesday after the fed meeting sucked all of the wind out of the sector. The Obama regulation thing might have been a factor too. If the glut report was an issue, USO would not have regained its few day losses Friday. So, as a cause-and-effect guy, I'm stumped.
Since only select few (SOROS) have these shares, they probably did this to pay him off at the expenses of the common shareholder. These bums can expect a class action suit if they continue to ignore the average shareholder while pandering to SOROS and a few select others.
PVA went 3 cents below yesterdays LOD,and bounced,nice come back,i was a little worried. Opened today @ 7.75, closed at 7.64 hey not to bad considering last weeks run up,jmo