The entire big production growth, ample free cash flow and debt pay down story has evaporated, leaving us with a test today of the 52 week low made late last June. One can understand the institutional bail out on Schiller.
95 dollar oil 4 dollar gas shares at 26.66, broken stock broken pipelines not a broken company.Looks like 27 strike puts I sold will be the good start to the accumulation of shares to a decent position by the close of FCX deal in June.As it stands now would buy shares in the market under 25
5 Qs ago, rising revs., rising earnings and DJ1 still out there.
Now, original model blown up. That is reworking wells for a song. Soon as you rework one, another plays out. Schiller projected 63k BoE exit rate for last calender year. No. Meanwhile, cash flow disappearing into new deals without new revenues and Schiller continues to knock down more in total compensation than any comparably sized Company's CEO.