Can't remember any more. But check GW and CRK and Oil for posters. Oil hit a nice well or wells off Guinea.
Going to be long cycle on oil and ngas 5-10 years mentioned to reduce tightness in energy!
Just love the energy sector! Little risk on big drop in energy possible. Never had a high tech stocks either or internet stocks. Dollar Cost Averaged long time ago LOW and won't sell any energy stocks for long time. Percentage wise doing O.K. Just 5000 PKD and 55000 shares around other energy and service company's. ome doing better then others. But all will rise decently as time goes on!
has been in place for awhile in America: No finacial gain, no drilling. With oil at depressed prices back in the early eighties, then again in the last debacle of a few years ago ($10 per barrell), much was lost from the oil patch in terms of equipment left to rust, manpower (skill) loss. It's always been boom or bust in the oil patch, but reliance on foreign oil is a crutch used when our own oilfield work is not economically enticing. Rigs now are coming back on track, majors are expanding their drilling budgets: hence the upswing in the drillers, but it would take a long while for the infrastructure to be fully vibrant again. The only relief, polictically, might be an admninistration willing to expand the drilling opportunites here on American soil and offshore. But eventually the oncoming supply would re-stabilize the prices downward, starting the cycle all over again. IMO
If I've got it right, roundtable featured Fadel Gheit (of Fahnestock) and Jerry Catelini....
Gheit was as bullish as I've ever seen him - referring to this as the best of all possible worlds - and the energy sector "firing on all cylinders."
He also opined that OPEC was naturally "dragging their feet" - not in a hurry to raise production - and then too there was the (unanswered) question of just how much excess capacity can be brought on line.... (They had a Merrill Lynch trader on earlier - saying that, I think)
Also, among stocks mentioned, both liked Phillips.... (other than that, Gheit is still with the exploration companies & Catellini more with the oil service plays)
There should be a CNBC write up on this at their web site....