Were you born last night? Hydraulic fracturing has been under constant attack for years, erroneously I might add, as most people don't understand the process or its effect (or lack thereof) on seismic activity or the environment.
No in-court restructuring is exactly the meaning the press release intended to convey. Strange they would walk back that talk so soon and replace with "reiterated its commitment to improving its financial flexibility and enhancing long-term value for shareholders through the continued execution of a comprehensive consensual restructuring program." A big dog - or two or three - must have chewed out his board appointee for approving the doomsday press release. Wonder if Wilder got a spanking, too.
Can't initiate what's already underway. VLO consistently has been buying back stock, to the tune of $265 million for the repurchase of 3.8 million shares in Q1.
Bloomberg has a piece out with the subject title this mid-day showing TSO missed Q1 estimates by 10%, but TSO does not report Q1 earnings until after the market closes today. Did I miss a warning from TSO or is something fishy going on?
Your repeated claims APA is dependent on UK for any revenue is false. North Sea operations account for only 13% of total production, which is hedged and sold in global markets.
That's what I have been waiting to hear. Buy orders in to spend all the cash parked on the sideline waiting for this day. VLO can run now. All aboard!
Call 9-1-1, collect all your fingers and put them on ice before you pass out. Never catch a falling knife, better to buy on an uptick.
VLO is too large to be acquired. Even the supermajors are hunkered down to conserve cash, and regulators would reject combination with any player able to spend $40B.
Traders who are not as smart as they think are buying for a bounce. It happens all the time under these circumstances.
Where did you come up with the idea XCO concentrated more on oil? It's old news the Eagle Ford leases are shut in for all intents and purposes. XCO placed its last hope on maintenance cash flow from Haynesville gas, which just above $2 is in no recovery mode.
BTW once they begin exploring "alternatives", which is euphemism for hiring lawyers to file for Chapter 11, they are obligated to inform the public.
I wonder if old Doug Miller still holds any shares or if Prem Watsa and John Wilder bought him out.
The 10-Q gives a hint of what to expect, "Based on our reduced capital budget and current estimates and expectations of commodity prices, production and capital structure, the Company acknowledges that it may not be in compliance with certain covenants under the EXCO Resources Credit Agreement in 2017." Suggests a six-month runway unless the September 1 or an unscheduled borrowing base redetermination cuts short the timeframe.
Ethanol can be blended into gasoline imports to comply. Even California, with its stiff regulations, imported gasoline to replace supply lost due to the Torrance refinery fire. US refiners' competitive edge is cost; for example, even if crude cost advantage dissipates, natural gas (used as both fuel to operate refineries and feedstock) cost is the lowest in the world. And let's not forget lower transportation costs, as US refiners are located smack in the middle of the largest consumer market for refined products. That's why we enjoy the lowest prices at the pump, too, even with EPA regulations.
You're losing money again, Harry. Good thing you delete all your posts to avoid having your consistent failures detected by all but the sharpest minds. I suppose now you will tell us you sold those shares you bought for $55 and change.
I checked with APA, and they said the rig will go to work when it meets contract specifications. Also said until then, AWLCF bagholders should stop whining and stay off the APA message board. Said it's immoral and unethical to be posting accusations about an issue for which you have no direct knowledge.
Would expect press release simultaneous with town hall if the deal is real.
I would wait for a $44-$48 handle, but you can always average down if you're early or up if you're late. Also, understand share price performance may not match the past few years unless something extraordinary occurs.
Not what I am hearing. Wall Street just walked away from refiners to chase the upstream action. Crude prices reportedly are topping and headed lower (due to combination of supply disruption resolution and stronger dollar), which means refiners will enjoy another round of benefit from the lower prices. Wall Street will be back sooner than you think.
Gasoline profit margins at narrowest seasonal levels since 2010 according to Bloomberg. Quoted Andy Lipow as saying gasoline imports are to blame. TSO has similar significant put volume.