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KCS Energy, Inc. (KCS) Message Board

  • dzedncnfusd dzedncnfusd Feb 26, 1999 12:39 PM Flag

    Too little Too late

    KCS is desperately trying to keep their heads
    above water, unfortunately too little, loo late! not
    only are they closing the new jersey office(which
    should have been done a long time ago) they are also
    consolidating parts of the Wyoming office with Tulsa, i heard
    they're moving the entire wy accounting and land
    departments, eliminating about 15 positions in wy. the wy
    employees will be let go gradually over the next few months
    with severance and bonuses. in my opinion they ought
    to let all of wy go, i think they got scammed on the
    whole manderson deal. anyone heard anything else???

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • What happened to last quarters results? I figure
      that has a lot to do with no upward movement on this
      outfit. Oil and gas prices are on the rise and
      inventories are FINALLY going down. I see this company's debt
      and it is scary. However, add a 1.00 to the price of
      a barrel of oil and that will start to dwindle.
      It's only a matter of time if oil and gas prices are
      really rising and not just hoping for an OPEC agreement.


      Unless last quarters results are BAD, VERY BAD. Could
      that be the delay?

    • I have never posted a message before on Yahoo,
      but I liked the intelligent dialog on this board and
      want to see more of it. I have owned KCS before and
      made good money, and I think they can come back from
      this serious downturn. I bought in the late summer and
      early fall thinking "no El Nino this year, cold winter
      = high oil/gas demand, prices increase, etc...
      Well, we can all see how that worked out! My hope is
      that mgt will eliminate the dividend if necessary to
      service debt costs, and refinance where possible to
      reduce interest expense. The Chairman has significant
      stock ownership(over 1 million) and the float is only
      about 70% of outstanding shrs. This is a big risk stock
      only because of the debt load and current prices as
      far as I can see IMHO...........iibassman

    • I bought kcs at 3 dollars.Can only hope this
      recent increase in oil continues till at least april
      sometime.We might see some turn around in kcs price just on
      speculative buying.On the other hand if oil prices turn down
      again soon we may see a new low on kcs.Fingers crossed
      but can't say I'm overly optomistic considering kcs
      down last 2 days when all my other oil holdings moving
      up nicely.

    • KCS can pull out of this with higher prices. The
      thing to worry about is a reduction in their borrowing
      base that would require
      the company to pay down
      some debt, which could cause some
      liquidity
      problems.

    • Even if the prices sky-rocket, which is not
      likely to happen overnight, they are in bad shape
      because they are heavily leveraged. I think they are at
      the point where all the money they bring in goes to
      pay interest. Wyoming is a financially leveraged
      disaster. Very little flowing, yet they are paying 12% to
      14% interest on the loan to buy it. With the high
      cost of drilling, there is no way at current prices
      that they are covering finding costs plus interest. I
      have been a shareholder and I really don't think they
      have the means to "weather" the storm until prices
      rebound. I think she is singing.

 

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