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Penn West Petroleum Ltd. Message Board

  • lionelman17 lionelman17 Mar 7, 2014 2:13 PM Flag

    Nice action today

    I'd like it confirmed by HIGHER volume.

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    • i'd say 7.3% on 2.1x volume isn't bad at all + good action on options. It's a bit better better than benefit of the doubt...executing on cost management. it's not a strategy business--they suck oil and gas out of the ground--operations are all.

    • Greetings, lionelman17. Yes, it's nice to see a little uptick in the stock price today. After looking at the numbers in detail, it appears to me to be a case of "let's give them the benefit of the doubt, for now". For the most part, the company's numbers, both on a quarter-over-quarter and year-over-year comparison basis, were not very good; I pretty much expected that after seeing the results from PWE's peers. The production numbers going forward do not look especially strong either; even at the high end of the range shown in the Outlook section of the Earnings Release, they're still projecting a better than 20% drop in Total Production (boe/d).

      So why the bump in the stock's price today? Simply, a belief in these four words: "we are on plan". Their cost-cutting measures are plainly helping, but that's the easy part of the plan, especially considering there appear to have been virtually no cost controls in place under the prior "management".

      It's good to see the investment community giving PWE a little love today, but there's still MUCH work to be done here. Any meaningful increase in profitability still seems a ways off to me. Your thoughts???

 
PWE
1.66-0.07(-4.16%)Mar 27 4:02 PMEDT