Don't worry, imo a company with very little debt and almost break even in the quarter with the lowest oil price will come out the other side stronger......wait until the vampire squid will tell us that the surplus has suddenly been transformed into a shortage due to field decline, 80% drop in rig count and lack of cap-ex........well you guessed it, the day they tell the masses, oil will be $ 75 and then the hook-nosed mofos will run the price to $ 140 as they have done it before......cannot wait to fill my car and pay $100.........Doha was a bust yet oil went up and I have learned over the past 35 yrs that when things quit going up on bad news and actually move higher.......well, you go figure it out! lol
rigs are not re-activated as quickly as they are being stacked....we will see....at $44 you cannot do anything economically except for maybe 5% of the overall projects....insanity. It will be fun to see.
With a 6-10% annual decline of non OPEC production, and demand increases, the market may be just about balanced....by the time people see evidence it is balanced, we will be at $75,....., then the "hook-nosed" people, sorry, the vampire squid will get a hold of that uptrend and push it back to $140 by next summer.....500 billion in cut capex has destroyed future production gains that are needed to stem the natural decline....with the rig count where it is the next big surge up is baked in and nothing can be done to stop it. All imo, but what do I know, eh?
This is due to domestic production dropping at a rate which will eliminate 1.2 mmbopd in production over the next twelve months......and I am sure non-opec is going down the same path.....
converted my shares at 0.72 into bonds at 10.50, looks like the shares should be zero based on what happened to bonds....so much for moving up in the order. Bonds actually down 50%, while stock only 35% down......ridiculous....clearly there is no faith in them paying interest on 4/15, imo
...as capex is cut two years in a row. non OPEC production will decline by 3 mmbopd per year and that will cause a nice knee jerk move in the other direction....you think the hook-nosed people bamboozled you on the way down, just wait what they will do to you on the way up!!! The grand reveal that US production numbers by EIA are overstated, imo, is coming ever nearer. TX production is NOT flat. Check EIA vs TRRC...factor in rig count and then see that US prod likely is 8.6 and not 9.0
Would that be a kick in the pants if the EIA will finally come clean!
It is still not too late for you to go and get that primer on oil and gas reservoirs, their production and depletion.....you may learn a lot that could help you with your investments! Dumbazz
the bonds would indicate no payment starting 3/15 on the 2021 7.75%....if no payment is made, ..... well, the rest is obvious
Production from here on out will drop 150 to 200 mbopd every month! And with no capex, the coming shortage will be a field day for the people at the vampire squid!
that is still 100 k on a monthly basis.....that is a little under what I would think should happen, but it now brings the past 4 weeks to a 140k drop, not bad
No way, the fact that the percantage of EV of new car sales is now 2% vs. 4% two years ago surely shows how the ICE is dead......
No, the hooked-nosed and pimply face analysts have told the world that the US production will be flat, even if ALL rigs are stacked! 9.1 mmbopd is the bottom, flat or even inclining production from here on out......
btw, last month the TRRC updated their numbers on the 20th of the month.....today is the 25th....nothing! I guess the vampire squid has called Austin and told them to quit publishing numbers that show a 25% annual decline in TX production!
When the truth will be revealed the shorts will bleed to death in a week from hell. $30 to $60 in a few days!
No, you should trust the hooked-nosed people that tell you US production is flat and we can keep it flat even with zero rigs!!
...and 5 of those 7 billion use this product each and every day.....btw, today again, 94 mmbo will be used up, and the same tomorrow....ever thought of that?