Dow down 28. Crude continues below $30. Analysts continue to see big crude inventory
builds and many now see crude to trade in the teens. Natural gas down. Most coal stocks
down, NRP crashing below $1 on big volume. No bottom in sight.
Another huge build in crude and gasoline. Crude added 7 million barrels and gasoline
added 5 million barrels. Bad news for NRP's crude oil business.
Dow down 24. Crude up slightly and trading above $30. Another big inventory build
expected when numbers are reported at 10:30 (CNBC). Natural gas down but trading
slightly above $2. Coal stocks mixed. NRP trading ex and holding near break even.
Credit rating just cut for TWENTY big oil companies. Almost all US coal, natural gas and crude
oil companies are now losing unsustainable amounts. Almost all headed for bankruptcy.
Massive inventories of coal, natural gas and crude oil. Still, companies are trying to maintain
cash flo by increasing production. How will this one play out???
NRP will go ex and unit price will drop below $1. The following week, NRP will report
Q4 and year 2015 results. Expect unit price to remain at about $1 until the reverse
split takes it to $10 (Feb.17th).
You always dig up good information, jrad. Looks like the SXCP debt repurchase is at about a
20% discount. If NRP could do the same with about $100 million of their 9.5% debt they would
of course save $9.5 million annually on $80 million in repayment. Do know that some of NRP's
senior management reads this board. Maybe you have given them good information with which
to follow up.
Coal, crude and ng prices have to improve if NRP is to survive. I have no idea what
is going to turn commodity prices up but until that happens bankruptcies in those
businesses are going to skyrocket. Pick almost anyone of the commodities. Steel,
copper, coal, crude, ng, the grains etc. MOST companies in those businesses are in trouble.
Those with high debt are especially at risk. NRP fits the bill.
No deal by Saudi and Russia to cut crude production (CNBC). Natural gas trading in the red
even with a big weekly inventory draw down (reported 10:30 am today on CNBC).
Bet jrad can answer your question. BTU could buy back their bonds for 5 cents on
the dollar. Don't know why they don't do that. Also don't know why NRP management
doesn't buy NRP bonds at this discount.
Dow up 109. Big move up for crude. RUMOR is that Saudi and Russia might cut production.
Natural gas down. Coal stocks up EXCEPT NRP. As usual NRP opened up and then fell
into the red. Also, as usual, big first half hour volume.