THE ANALYSIS: While the blowout is bad news for the company, Raymond James analyst Collin Gerry said in a research note Tuesday that he believes the accident will have a marginal impact on Hercules. He said that all employees were safely evacuated. And while it is unclear what caused the blowout, he pointed out that the company is working on regaining control of the well. The analyst also said that, based on preliminary information, the rig is likely still in workable condition after some repairs.
Gerry maintained a "Market Perform" rating on the company's shares.
Wow, I respect Collin but he is wrong on the rig being workable, not even close and there is nothing they can do to "regain control of the well" beyond trying to put it out with water (odds 5%) or drilling a relief well. Odds are this things burns itself out/bridges up before anything they do to get control of the well.
Hey Manic Boy Mikey . . . cam you post a picture of yourself on this forum so we can all finally see but DB looser likes so we can all have a good laugh . . . you had many chances to sell today with a profit, yet you elected not to, for what reason?