What are you doing slumming here? Thought you departed for better environs ... but yeah not just birds are being killed but the symbol of our nation and only recently removed from the endangered species list, bald eagles, are suffering heavy casualties around wind turbines. Worse, the Obama administration has committed to turn a blind eye for three decades while wind energy gets a foothold.
Bloomberg: For Apache, "it's not an enormous find," Leo Mariani, an analyst with RBC Capital Markets LLC in Austin, said today in a phone interview. Explorers generally recover only 20 percent of their oil in place estimates, which would yield about 60 million barrels, he said. "That's not a huge needle-mover for them."
Mulhern's departure has nothing to do with XCO and everything to do with another opportunity to which he already was strongly connected. His background was not directly aligned with XCO's business, and I have observed such circumstance leading to quick exits initiated by the incumbents in small cap and private oil patch companies more times than I care to recount.
Watch who you call a fool, because it may be you if predictions of rig oversupply are accurate. An 11% dividend yield coupled with a 15% capital loss is no bargain.
I expect a key not mentioned in your summary is delay of any purchases from KKR until 2015 due to all the unanticipated issues encountered with those wells. Mr. Market already was leery of the arrangement, and the delay may have been the last straw.
Not opening at $110 if Reuters and Bloomberg have their way. Both turned promising developments in APA's press release into negatives.
Are you referring to a decade-old transaction following Valero's move to the UDS campus after their merger? If so, that's a new low even for a ground-hugging reptile such as yourself.
Great reply from APA (quoted in WSJ article):
Apache said it welcomes Jana's investment. "We are focused on continuing to execute our strategic plan to rebalance our portfolio and to focus our strategy on more predictable and profitable production growth in our North American onshore assets," spokesman Patrick Cassidy said.
However, all this sudden gushing over APA makes me wary. Is APA in cahoots with Jana to increase the share price? Did Jim Cramer know this was coming down when he joined the APA fan club? Guess it doesn't matter as long as they are making us richer. Just don't let them take the money and run, leaving us holding the bag.
Yep. WSJ reports:
"Activist investor Jana Partners LLC has built a stake worth more than $1 billion in Apache Corp. APA -0.02% , and is calling for the oil and gas producer to exit some of its most expensive projects to free up cash flow.
'Investors are unimpressed by [Apache]'s global diversification and have voted with their feet,' Jana said in a letter to its investors Monday that was reviewed by The Wall Street Journal. The hedge fund noted the company's poor performance compared to that of its rivals.
Houston-based Apache has already taken steps in line with Jana's goals, raising billions of dollars in recent years by selling properties around the globe. The company has spent more than $2 billion buying its own stock in the last year, and its board recently authorized more share repurchases.
An Apache spokesman had no comment. Apache shares were up more than 4% after hours Monday.
Bloomberg News first reported on Jana's position."
100k shares traded in larger increments now. Definitely is trading on non-public information or a rumor. Did Cramer say something on his show?
33k total shares traded in 100 share increments. Perhaps somebody is being coy around non-public information or spotted a limit order exposure.
That's a very short-term trader perspective. Dividends mean much to those investing for income and long-term capital appreciation.