I stepped up again to add to my LT holdings (free basis trading shares) @ 12.80 this am. IMO the energy sector is getting hammerred unduly by the street in the attempt to shake out the little guy again for the big profits to come this winter again. The OSX is getting hit as if Oil was $15 and NG was $2.00. I've been very patient and licking my chops to start catching the knives in a lot of issues. DNR looks like they got caught in the am sell-off in expectations of high injections again. If DNR closes above 13.25 I'll hold out for about a 6% trade to $13.58 +/-. If it closes below 13 I'll take a little profit and look for lower lows this summer again. Gotta believe that these producers are all going to be minting cash at these historically high pricing for their products. TRADE WELL and PROSPER...TODD
Todd, our favorite trader has returned! A NG selloff has materialized. I was very surprised to see DNR down with oil prices so high. There seems no end in sight for the oil storage situation. The mild summer weather has persisted, but NG fundamentals remain strong.
As for the Padre platform, I think the schedule was for August. I would expect the schedule to have slipped a month or two. I doubt there was any property to damage.
I added a little as well at sub 13 prices. While oil/gas prices may eventually fall, DNR is indeed making cash and they are paying down debt. Also have to think that the possibility of dropping down the CO2 assets in Genesis will free up some capital.