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Occidental Petroleum Corporation Message Board

bnwild56 10197 posts  |  Last Activity: 11 hours ago Member since: Feb 23, 2000
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  • bnwild56 bnwild56 11 hours ago Flag

    Jiivest never read, maybe you should: from 10k quote:
    ""The agreements governing the Company’s existing indebtedness have restrictions, financial covenants and borrowing base redeterminations, which could adversely affect its operations.
    The Company’s senior credit facility and the indentures governing its senior notes restrict the Company’s ability to, among other things, obtain additional financing, make investments, lease equipment, sell assets and engage in business combinations. The senior credit facility also requires the Company to comply with certain financial covenants and ratios. On February 23, 2015, the Company and its lenders amended the credit agreement to address the risk that, in light of depressed oil and natural gas prices, the Company would breach certain financial covenants in 2015. See additional discussion of the senior credit agreement amendment under “ Cash Flows-Senior Credit Facility. ” Persistent depressed oil or natural gas prices or further decline in such prices, without other mitigating circumstances, could prevent the Company from complying with the financial covenants under its amended senior credit facility. The Company’s failure to comply with any of the restrictions and covenants under the senior credit facility, senior notes or other debt financings could result in a default under those instruments, which, if left uncured, could lead to an event of default. Such an event of default could, among other things, result in all of its existing indebtedness to be immediately due and payable. Additionally, an event of default under one of the Company’s financing instruments could trigger cross-default provisions under the Company’s other financing instruments. The application of the remedies under the financing instruments could have a material adverse effect on the Company’s financial position."

  • Reply to

    Guess Client9 see SD going BK?

    by easymoneyman00 14 hours ago
    bnwild56 bnwild56 14 hours ago Flag

    Easy, beat on earnings...Be careful, in the 1980's using the same numbers I had three different accounting statements...one for IRS, one for the Banks and one for me....That earnings beat was a little smoke and mirrors, as they clouded the picture my scrambling time periods, for example:
    forecast 6% production growth related to drilling last qtr and excessive capex spending in first qtr this year by year end SD will have a decline of 10 plus percent in production....Earnings beat, my guess was the selling of the hegdes but cannot be sure unless read the 10k which I am not planning on doing anytime soon as my sight is very bad and I am not that well experienced in listening(audeo)...THEY WERE NOT WILLING TO GIVE 2015 GUIDANCE right now...That statement alone ought to cause you concern...

  • Reply to

    Bleeding cash

    by cleint9 Feb 27, 2015 3:18 PM
    bnwild56 bnwild56 Feb 27, 2015 3:38 PM Flag

    Cash burn tell, my take: 28.8 MMboe annual
    oil and gas sale @ $100.00 = 2.8 billion
    oil and gas sale @$50.00 = 1.4 billion capex 700 million costs per boe near $50.00
    non cash Depletion (forgot number guessing they said 13 or 17).
    $13.00 per boe 28.8 = 374 mill
    $17.00 depletion 28.8 = 476 mill

    Subtract either of 13 or 17 for depletion and you find the cash burn(400).

  • bnwild56 bnwild56 Feb 27, 2015 3:03 PM Flag

    Do not know....But CC question if no drilling the decline would be 35% for production this year...IN CC or question With drilling this year 700 million decline in teens...Yet I think somewhere they advise upward of 6% on production...I guess that means because of the extra spending in quarter 1 this year nearly 40% of budget....SO if I understand SD will spend 700 plus million and still see a decline in production at end of year....Of course they said plan on drilling about 180 wells and if I remember correctly which i may have this backwards is 120 wells will be net SD for the year.

    however, I do not see how 180 wells at projected 2.4 mill well costs add to 700 million nor does it add to 700 million CAPEX @ 3 million per well...

  • bnwild56 bnwild56 Feb 27, 2015 2:23 PM Flag

    If it drops hard next six months i be adding....
    IMO, Fed can not induce inflation because risk killing economy.
    But, the new way to inflate the economy is increase wages at the lowest level and it has started with WAL MART....and CA has raised MIN wage to $9.00 last July...so here we go

  • Reply to

    BP DESTROYED ENTIRE GULF

    by mtoby3 Feb 25, 2015 10:37 PM
    bnwild56 bnwild56 Feb 27, 2015 1:52 PM Flag

    Thx, cuiosity99. I have no access and/or have not read any court documents. Interesting they blame the pipe? As I remember BP tried and under water robot to manually engage the BOP it found dead battery would the pipe be buckled with partial closure etc. Pipe center, get real, hang a string or line down a pipe and tell me if it can be kept center, what nonsense... It's a pendulum down the casing...My memory is that the BOP lever to close did not work...Of course there is always a possibility in a blowout that the pipe can interfered with the swearing blades. I supposed that is what the court ruled just bad luck for BP....I really not sure i can by the argument 100% because it was day or days before BP tried to manually engage the BOP and the pipe could of moved or changed location...Bottom line one Man's ego cost BP.
    I can tell you that man will never work again in the oil field. unless it's on the end of a shovel....

  • bnwild56 bnwild56 Feb 27, 2015 1:32 PM Flag

    Healthcare probably a lost cause...pipeline veto I think is to spite the repubs....No, they all want corn power a most expensive form of power...
    I am still waiting for better solar cells....But hey the liberals want us all to adopt expensive tech before it is cost effective; for instance would you like using the old large motorola cells phone developed/made in 1973...Yeah that large expensive phone is the tech the liberals want us to switch too now....Dumb just plain Dumb, yet they claim they are smarter than the rest of us...

  • Reply to

    Reserves

    by b090952 Feb 26, 2015 9:57 PM
    bnwild56 bnwild56 Feb 27, 2015 12:38 AM Flag

    well, my quick scan of release seem to indicate reserves were still using 90.00 plus and $4.00 plus for PV-10

    ""SEC Reserves and Value""
    ""Year End 2014 ($91.48 / $4.35)."".....
    so no reduction to current oil and gas prices is my interpretation ....

  • Reply to

    you can see the future in the chart

    by amoryblayne Feb 26, 2015 7:19 PM
    bnwild56 bnwild56 Feb 26, 2015 7:44 PM Flag

    Well, they upped the EUR per well average. Guess that from drilling best locations. I Surprised No Impairment...Costs approx, 9.00 F&D, 11.00 LOE, G&A 3.00 what I forget? anyway was adding to less than $50.00 if you believe them. Let me see, thinking out-loud, 80k boe/d x 360 = 28.8 million boe annually and interest on 3.1 billion @ 7% = 217 million dollars
    217/28.8 million barrels = $7.53 interest per barrel of energy produced.
    IF I done that right where is it in there costs?

    I wait to see if new EUR actually correct or another wild guess....
    300 bbls a day for 360 days = 10,800 barrels a year...ten years would be 108,000 barrels ....20 years = 216,000 barrels ...I am having trouble with the EUR they-SD is claiming...just run some numbers....

  • bnwild56 bnwild56 Feb 26, 2015 3:19 PM Flag

    FYI : The great Bush 'deregulation' myth

    by Jeff Jacoby
    The Boston Globe
    November 19, 2008

    Footnote: most source from
    new York Times...Real History and Facts.

  • bnwild56 bnwild56 Feb 26, 2015 3:06 PM Flag

    opinion, I agree Bush spent..BUT before he really went on spending spree I mentally thought he should spend the money or the Democrats would...Hence I think he spent to prevent A future Democrat administration from spending...BWDIK

  • bnwild56 bnwild56 Feb 26, 2015 2:59 PM Flag

    I'll be brief rj...polls most times show how uninformed the public is about the facts.
    Bush's problem was putting Bernanke in whom promptly raised interest rates, making in a couple of years all those Adj. rate mortgages under water and those interest only housing loans...
    Tax cut do you even know what that is? most was just an excellerated legit business expense. like the section 179 exp increase for a few years...Once an asset is depreciated it cannot have further deductions. Thus if you want a deduction you have to buy new equipment hence, economy stimulant but most morons do not know this and most of the public has not a clue.

    next i forget but several years back I saw a GAO or CBO report saying actually the rich paid slightly higher taxes in Bush years and it was in a percentage increase again the public has not a frigging clue...

    The public doesn't realize Bush saved us from a depression/recession because it did not happen. Stock market crashed when he took office Federal revenues decreased because of it...Then 9-11 and airlines almost went out of business...TAX cut well he even gave the poor an extra $300,00 cash per person and the economy still was struggling....War helps a Bad economy but no one brings that up because they ashamed to point it out...

  • Reply to

    What a rout today.

    by bruce_jemcek Feb 26, 2015 12:43 PM
    bnwild56 bnwild56 Feb 26, 2015 2:01 PM Flag

    OT: I debating selling TRQ today...Only I have not learned how to analyze a chart...Is copper going up? Is our economy going to have strong demand, it is possible especially with lower oil prices...IF our supply of oil can continue where Cushing storage peaks it's storage capacity. Say another ten weeks with an average fill of 3 million barrels a week,,,,

    Troble with EIA numbers which include gasoline etc declines you never know whether it's because import of oil from a tanker was missed by hours or added...Darn imports are staggered or roller coster in up down fashion making did that shipment get reported early or late....

  • Reply to

    BP DESTROYED ENTIRE GULF

    by mtoby3 Feb 25, 2015 10:37 PM
    bnwild56 bnwild56 Feb 26, 2015 4:04 AM Flag

    mtoby3, it was one mans ego on the rig...It failed the negative pressure test three times had the office known there would not have been a blow out...Next Transition did not have a working blow out preventer(BOP).
    BP took all the Blame. IF you read RIG's 10k (annual report) for 2009 you will find Transocean had such a problem with their BOP's that they mention the issue with the BOP's in the 2009 annual report...Now how is a company wide(RIG"s) problem with BOPs maintenance and proper functioning BP's Fault? BP had not contracted ever rig Transocean had.
    Next the #$%$ from farms going down the Mississippi every years does more damage to the Gulf of Mexico than ten Macondo blow outs could actually do...People like you whom want someone with deep pockets to pay for every one else's damage too....you people are something else.

  • bnwild56 bnwild56 Feb 25, 2015 3:17 PM Flag

    you don't think they have already top filled their tanks over the last three months? come on hrdwk....

  • Reply to

    What are income reallocations?

    by arlingtonguy313 Feb 17, 2015 12:39 PM
    bnwild56 bnwild56 Feb 25, 2015 3:07 PM Flag

    Have you seen the seismic? perhaps there is more oil in formation lower than they have drilled into so far or is there shale above or below current producing formation let me know Mr. expert, dot the math

  • Reply to

    down sharply in premarkey - why????

    by lestercohen37 Feb 24, 2015 9:13 AM
    bnwild56 bnwild56 Feb 25, 2015 3:05 PM Flag

    near dividend date....no one knows the effect exactly of lower oil price.
    If it drops a lot I will buy some more.....if you are trading it be time to do it probably at 80 would of been better...but who knows a div/distribution cut in half will still be good yields and oil industry has been cutting div's so some of them may come here.....

  • Reply to

    Crude supplies build

    by trmmara Feb 25, 2015 10:38 AM
    bnwild56 bnwild56 Feb 25, 2015 2:21 PM Flag

    Playboy I assume you talking 8.4 an EIA number this week. IT does not count the amount storing in Canada or the amount storring on ships or the amount China is storing(china been buying as much as they can get to fill up storage cheap) ...Point being that just for the USA numbers....

  • Reply to

    why are we down?

    by buyvalu Feb 24, 2015 2:20 PM
    bnwild56 bnwild56 Feb 25, 2015 1:59 PM Flag

    the CC in my opinion sad they can do ok at $69.00 which is what the qtr averaged. only this time qtr will average over $ 50.00 to 60.00 thats 9 more dollars of loss on bottom line...on 14 million barrels a qtr that;s a 140 million more in the loss column, imo or on the oil which is less aprox 9 million barrels or 80 million more in the loss side...So, in conclusion an larger operating loss I expect for 1 st qtr....

  • bnwild56 bnwild56 Feb 25, 2015 2:18 AM Flag

    RJ, you missed the point: Bush Admin wanted to do something about the GSE's Fanny and Freddie Oct 2003. Barney Franks hit the media and nightly news effectively stopping any fix...The hugh housing bubble could not have happen had the GSE's been controlled starting in 2003...2009, I can not find it but I remember clearly Obama in a Video(2009) saying no way energy could be solved by drilling as a matter of fact at first he tried to hinder and then quickly left it alone never to make such dumb comment again...I SAY THAT THE DEM PARTY LINE THAT MESSED HIM UP... anyway what did he do? Healthcare is all...The wars were winding down anyway. I give him credit for getting Bin laden because he made the decision to go in...The economy is Shale drilling increased oil production for USA(help trade deficit) and the FED's QE's... QE's and the OIL production growth Had Zero help from the Administration and Congress....What did I miss? Son CO2 is not the problem they figured it out almost a hundred years ago and we and Europe etc have spent 100 billion dollars and 20 years trying to prove it's co2 only they can not because it is not....Consensus , is not Proof anyone whom thinks concensus means proof ought to have their head examined---talking illusion minded...May I suggest you buy the book Slaying the Sky Dragon it might clear a few things up for you regarding co2....

OXY
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