It seems XEC is doing well since the breakup/merger, but HP is languishing. Does anyone have an impression of HP's future. It seems they have taken on significant(for them)debt, and insiders continue to sell.
Plus, I think many drillers seem to be suffering, too. I don't understand this. We seem to be in for commodity price increases, or at least holding decent levels. Too much competition?
Also, what is the potential for their real estate investments?
the spin off was to give HP the same multiple as other drillers....HP stock benefited in real terms from the spin off to Key Prod...the real estate I believe is commercial property in Tulsa....since many oil co.'s have gone to Houston the value may have dropped but it is still probably being carried on the books below true sale value...HP will move when the drillers move...