For some reason, I cannot find OCIR's statement. Would be interested in YOUR thoughts. Also,
sorry about my mistakes about the Whiting Petroleum deal. Still believe that Whiting's recent
stock movement indicates big problems for NRPs' oil business.
Shares of Whiting Petroleum are down almost 50% since July 1.
Share price hitting a new low almost daily. Whiting sold oil
drilling properties to NRP in the fourth quarter of 2014. Whiting
leases these properties from NRP at this time. Would guess that
NRP will show very little income or revenue from this investment
when 2nd quarter results are reported on Thursday.
NRP shares will trade for pennies if there is a significant
revenue and or income miss in second quarter results. NRP shares are
already down more than 20% since ex date (yesterday and today).
Ninety thousand shares traded within the last 15 minutes. Took share price
down 7 cents. Similar to trading near the close yesterday when share price
dropped to the low of the day at the close on big volume. Strange"
Expect to see new record low share price tomorrow
You are one smart dude, luke. You failed to mention Patriot Coal and James River coal.
They, too, are bankrupt. Since you have all of the numbers, you might tell us how
many of the 7 billion world population would freeze to death without coal? Also, how
much coal will be burned world wide when the population reaches 9 billion
in 2050? I
James River last year. Patriot, Walter Industries and now Alpha Natural Resources
this year. Arch (ACI) probably next. Looks like another bad week for coal. Some
natural gas companies also starting to get into trouble financially , ie LINE..
Crude also dropping this morning. The energy business is not the place to
be at this time.
Tomorrow, Obama will make another coal speech. He will remind us
that during his time in office he has closed almost half of the coal generating
power plants and almost half of the coal mines in the USA. Bet he will also
tell us that in the past year alone he has killed 70,000 coal miner's jobs.
The White House reports that tomorrow's speech will be Obama's most
important yet in his global warming and"war against coal" endeavor.
Time to bring this thing to an end. I believe that Obama might now
BOMB THE REMAINING COAL MINES. Only way to end quickly his
"war on coal".
Tomorrow, Obama will make another coal speech. He will remind us that since
he has been in office he has shut almost half the coal generating plants and almost
half of the coal mines in the USA. Bet that he will also tell us that he has destroyed
70,000 coal miner's jobs in the past year too. Tomorrow, I believe that Obama
will deal his final blow against coal. HE WILL BOMB THE REMAINING COAL MINES.
Only way to bring his "war on coal' to an end.
Last Wednesday, Zacks downgraded NRP shares from "hold" to "sell"
Reason given was that NRP lessees are shutting mines. Have not
read that. We will know on the 6th.
Only positive is that there is total negativity on the part of the analysts.
If you saw on CNBC today Fast Money at noon and at 5pm, you know that:
1. Crude oil inventories 25% above last year. Building at more than 2 million
barrels per week. Iran about to add another 2million barrels per week to the supply.
2. Natural gas inventories also 25% higher than last year and building.
3. Thermal coal inventories have been out of the roof for years.
4. Met coal price down to $93 per ton ($330 just 4 years ago)
Nothing but bankruptcies in sight for coal, natural gas and crude oil stocks.
Exxon just reported 2nd quarter results. Beat with revenue and missed with income. For
years coal companies did the same (beat on rev and missed on inc.). Most coal companies
are now bankrupt. Wonder if crude and natural gas companies will continue to follow
what coal companies have done? Goldman Sachs sees crude at $30.
Arch Coal reported 2nd quarter results earlier today. Missed street estimates for
both revenue and income. Massive losses. Arch management sees no near term
improvement for met or thermal coal. ACI leases mines from NRP.
Dow down 81.. Crude up slightly but natural gas down. Natural
gas inventories to be reported at 10:30. Coal stocks down. NRP
opened up but now in the red. WLL crashing. Don't know why. Their
2nd quarter results were better than the street expected.
Dow up 54. Crude down but natural gas up slightly. Coal stocks mixed. New low for ACI.
ARLP up. Should be much higher. Good quarter and div. increase. NRP uo 2 pennies with
two days till ex.
Dow up 51. Crude down slightly and natural gas up a bit. Coal stocks mixed but
near record lows. BTU missed, as expected, and now trading below $1. They
also eliminated the 1 penny dividend. NRP little changed with 3 trading
days till ex.