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Occidental Petroleum Corporation Message Board

bnwild56 166 posts  |  Last Activity: 54 minutes ago Member since: Feb 23, 2000
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  • Reply to

    Good Read , hope the link works

    by divin4tacos 16 hours ago
    bnwild56 bnwild56 54 minutes ago Flag

    happy nukes do not keep ISIS out of your front yard only troops do( called bodies, personnel) This I do not think the democrats understand...

  • Reply to

    OT: TAX CUT

    by bnwild56 1 hour 8 minutes ago
    bnwild56 bnwild56 1 hour 5 minutes ago Flag

    In 1981, Congress again changed the depreciation system,[2] providing generally for shorter lives for recovery of costs. Under the Accelerated Cost Recovery System (ACRS), broad groups of assets were assigned based on the old ADR lives (which the IRS has updated since). Taxpayers were permitted to calculate depreciation only under the declining balance method switching to straight line or the straight line method. Other changes applied as well.

  • bnwild56 by bnwild56 1 hour 8 minutes ago Flag

    Read history...The Great Reagan tax cut was just expensing business costs....Link , it called ARCES...now thik about how you been lied to all your life by politicians, hey ya.
    https://en.wikipedia.org/wiki/MACRS#History

  • Reply to

    Good Read , hope the link works

    by divin4tacos 16 hours ago
    bnwild56 bnwild56 1 hour 14 minutes ago Flag

    Clinton was one of the best Repub Pres. ever even though he was a Dem.
    Clinto had an easy terms, IMO...Booming Dot. com Congress willing to cut military, I am talking Troop levels...Did you know, what the Reagan tax cuts were? Mostly it was accreted depreciation, ya know like DD&A.
    That;s not really a cut it just allows companies to expense their costs quicker. I bet most did not know this! Did you know Reagan had to Cowtow to 13 or was, now i forget and yo cannot find the info...BUT about 15 Powerful democrats demanded extra spending of 150 billion we did not have. NO, Press will not tell you. Anyway Reagan agreed because he was confident accelerated depreciation(TAXCUT) would boost the economy. IT was Called ACRES, if memory serves then Dems complain and they changed it two or so years later and that was called MACRES(modified accelerated depreciation..Remember ACRES was first ..80's here: MACRS - Wikipedia, the free encyclopedia
    The Modified Accelerated Cost Recovery System (MACRS) is the current tax depreciation system in the United States. Under this system, the capitalized cost (basis) of tangible property is recovered over a specified life by annual deductions for depreciation. The lives are specified

    google it...But hey poor people that is a tax cut just expensing your costs...

  • Reply to

    Good Read , hope the link works

    by divin4tacos 16 hours ago
    bnwild56 bnwild56 1 hour 29 minutes ago Flag

    I have news for you; investment in China was planned in the 60's.
    Could have been started pre, but Certainly in 68 under Nixon and Kissinger, it was called China ambitions and part of the deal was to help get the USA out of Vietnam, However, Repub, nor Dem , nor Media ever bother;s to educate the public about this(NOR College or University) . Chairman MAO came over USA and toured Hughes tool Factory, Yeah, you know the one that Makes Rock drill bits. AS a matter of Fact I imported them from China in the 80's..They knew(industrialist DEM and REpub) after about 20 years wages would rise in China...In other words the Cycle would work just the way it had with Japan,( in the 50, 60 70's Japan was the cheap labor but in the 80's Japan's labor costs equaled the USA employees...And the same thing is happing again with China, so we head to Vietnam and elsewhere.
    Two, wars, I love you unknowing spoon fed people, ask youself? Had the USA still had 500K troops like in 1991 or even 400k troops..but we did not Bush just 10 years later was trying to fight Iraq with 125K troops and Afghanistan with 25k plus troops--OH Rumsfield said it was enough but I say think, he nor Bush could say they needed more troops because the Dems would of had a field day politically over it...As a consequence the USA/we played ring around the rosy in Iraq and to a lessor extent in AFgan. This is why there was still two wars going on...I think with 350K troops the wars would have been over by 2006 and cost 1/3 as much!
    This is what we wind up paying for having a small army...IT is also, why European countries cannot and did not do anything about the Ukraine.
    Had we, the USA, the will and/or European Counries had the troops we could of placed 60K troops in Crimea and I bet you it would still be Ukrainian today and no shots fired...Why Putin go there It's call VERY large OIL reserves Offshore Crimea, Ukraine was making plan to be developed....

    No, I think Dems are NOT so smart as they think the

  • bnwild56 bnwild56 11 hours ago Flag

    Yeah, I remember the days when stock traded below $10.00 and CPA's whom were smart were saying why it would be going down....Well? numbers do not always tell the story I have learned...

  • Reply to

    Why is CRC up so much today?

    by buyvalu 17 hours ago
    bnwild56 bnwild56 15 hours ago Flag

    All I can say is not smart or some inside info not in the public domain either way it is wrong....CRC will have a impairment charge non cash...May be it up because they might get a TAX refund for 2014...But that no reason to buy a company a one years tax refund....Or prehays shorts shorted the stock and didn't own it and many holders of the spun off oxy probably do not even know they own it or it's financial condition...Point CRC holders have not sold there shares so the shorts decided to close their position...but who knows.

  • Reply to

    Write-downs coming?

    by sponge_bob_is_no_square Jan 28, 2015 5:39 PM
    bnwild56 bnwild56 15 hours ago Flag

    I meant 100 not 199 missed the key....but what it means is the drilling of those wells does not mak since at these oil prices...

  • Reply to

    Write-downs coming?

    by sponge_bob_is_no_square Jan 28, 2015 5:39 PM
    bnwild56 bnwild56 15 hours ago Flag

    CRC, not going to spend my guess 199 mill in Carson for 200 wells at my guess cost of 500k each. OXY CC said oxy only taking impairments that would not be temporary(? the meaning?) anyway OXY took over 500 mill write down on their 19% ownership of CRC....SO, I'd say we/or you I sold can expect a CRC impairment of around 2 billion. OXY CC said they received about 4.7-4.9 billion from CRC that was restricted to oxy share buyback or dividends and they received late November another aprox. 1.6 billion...FROM what CRC has said that is at least 6.6 billion of DEBT for CRC ...OXY does not expect USA production to even consider dropping until third qtr.2015 and is hoping for $60.00 dollar oil end of 2015...Their permian (OXY) Has wells in co2 that can be developed for $3.00 to $7.00 a barrel....CRC I don't think is so lucky...although CRC has significant NG but I do not think that be enough. With lower than $60.00 oil and $60.00 oil at end of 2015, I expect CRC to record a loss for EVERY QTR of 2015...Because of the DEBT!!! AS OXY told their analyst during questioning you can not just stop some things cold you have to phase it out.

  • bnwild56 bnwild56 Jan 30, 2015 2:58 AM Flag

    I wold suggest listening to the OXY CC that they gave today,,,Good info on well costs their horizontals in wolf camp etc....

  • bnwild56 by bnwild56 Jan 30, 2015 2:55 AM Flag

    I fell asleep but OXY had some interesting things to say about CO2 Flood they have in the Permian Basin...Cost as low as 3 to 7.00 a barrel...RE using work over rigs to deepen some of those wells and they have barely gotten started doing that...For developing cost OXY expects 15.00 a barrel for 2015... Also , contractor contracts fees drop according to oil price thus the lower oil goes the lower OXY costs go...60.00 oil costs around 9 forgot but if it drop to 35.00 for oil they expect cost to drop from 30.00 to something like 22.00 per barrel....I'd say those stat would make the call worth listening to....I'll have to try to listen again without going to sleep.

  • Reply to

    awfully tempted

    by marquesedillinger Jan 29, 2015 10:46 AM
    bnwild56 bnwild56 Jan 29, 2015 2:10 PM Flag

    EXample, if SD has drilled 1,000 wells to date and they produce 10 boe/d in three years then SD would have 10K boe/d from those wells already drilled....BUT if it is lower? 10k x 360 - 3.6 mill x 40.00 = 120 million a year...

  • Reply to

    awfully tempted

    by marquesedillinger Jan 29, 2015 10:46 AM
    bnwild56 bnwild56 Jan 29, 2015 2:06 PM Flag

    Well if you all want to enter the question you should be asking and none here Have! The question is what is the production from the wells two three four years old...Then all you have to do is count the number of wells already drilled and you can calculate what SD production would be from those wells three years from now, if it is high enough to pay the bills and drill a well or two then invest otherwise, I would wait.

  • Reply to

    ECR has no message board

    by thomasthegreatx Jan 29, 2015 11:29 AM
    bnwild56 bnwild56 Jan 29, 2015 2:02 PM Flag

    When picking a company, at my age and my last fiasco called ATP, I no longer invest in highly levered companies period....Just risk reward out of sink...

  • Reply to

    How Democracy works:

    by hrdwkgdog Jan 26, 2015 8:06 PM
    bnwild56 bnwild56 Jan 29, 2015 1:59 PM Flag

    RE: economy. IF everyone has just enough then there is no growth, its a rule of nature which none of us are taught...This is the one of the reasons why communism failed. IT is why Europe is in the Dull Drums for a decade or two. Dems, and Europe thought you could fix it with welfare and basic retirement system and France thought a shorter work week would help fix unemployment...Speaking of Unemployment just because number of people on it is does not mean people are employed. Fact and living example today, I employ Two people ( as Gov. CA. has In home support for elderly and disabled people) In my case 56 hours a month split between two people... Brianna, Has another job Big lots she gets 4 hours a week, and recently she added Halmark cards where she fills shelves that's another 12 hours a week. Now Big lots and others never give em a set schedule it changes hour to work during the day and on what days they have to come in...But hey, you people without empirical knowledge thing we have low unemployment numbers, I tell you Brianna;s and the other several million like her put a Drag on the economy because they just get by...

    For an economy to do well, people whom want to need to be able to work 100 hours a week or work 40 hours and work extra on weekend, overtime or part time job...This gives them EXTRA money which they spend or in a few cases invest and it is this process which causes everyones standard of living to go up...But you will not learn this in School, or ar at least It was never thought when I went to College and graduated in 1980...MY sister fished her college some at UCLA and finished Domingize (sp) Cum Laude and she was not thaught. IN fact, I know of no one whom I met with over 30 years that has every been taught what I just laid out about work and over time verus just enough....

  • bnwild56 bnwild56 Jan 29, 2015 4:38 AM Flag

    all I can say is if a smart person or company invests or expands in a Panic period economy then they very smart....But ya have to be able to do it...

  • ""A copy and paste Item, enjoy low gas while you can..
    harehau • Jan 24, 2015 1:06 PM Flag
    1users liked this postsusers disliked this posts1Reply
    Saw that Blackstone raised $5 billion I think. They are ready to buy.
    Something Boone said yesterday, thought was interesting. 250mm cars/trucks in US. If you figure half a barrel in each tank, that's 125mm barrels of additional demand if everyone bought one more tankful, 125mm/365, that's 340kb/d of additional demand. Saw where there are one billion vehicles on the globe, sounds about right. One more tank, 500mm barrels of demand, that's 1.4 mmb/d, on 93mm b/d, that's 1.5%, about the average increase. Not going to take much to move oil up from $50, less supply and more demand. The other thing that strikes me, is we have 5% of the global pop and 25% of the vehicles. We have 80 cars for every 100 people and the rest of the world 10 cars for every 100. Couple of observations, doesn't take genius, is we, maybe should say I, don't recognize daily the skewed nature of our negativity, there may be inequality, not going to begin to argue that, but our largesse for everyone is still the envy of the globe. And second, everyone on the globe wants what we want, we should have another 4 billion cars to match our usage.
    This still the best country on the planet despite our government leaders, on both sides. Less""

  • Reply to

    CNBC TALKS OF FULL EMPLOYMENT STUPID IDIOTS

    by casstech1964 Jan 28, 2015 3:37 PM
    bnwild56 bnwild56 Jan 28, 2015 4:26 PM Flag

    Well, I went blind and now disabled at 58...being around low income people...I learned jobs at minimum wage, well many employers like big lots etc only work em 4 to 8 hours a week so they get two or more jobs but there-in is a problem these jerky jobs do not give em set times to waork no they bounce what hour they come in and what days, now try that with more than two jobs which combined you can not get a 30 hour week much less a full work week of 40 hours....I and they want to know whats wrong with the economy...I laugh my AO or LMAO...And I never here the Media bring up the problem neither dem or Reb media they are all Idiots!!!! And over Paid!!!

  • bnwild56 bnwild56 Jan 28, 2015 4:19 PM Flag

    we could find some cash by cutting the pay from 40 million to 30 million.

  • bnwild56 by bnwild56 Jan 28, 2015 4:00 AM Flag

    Well CRC -OXY spin offset going to drill 200 wells in CA. AND FCX " The Arizona-based copper, gold and oil producer reported a net loss attributable to common stock of $2.85 billion, or $2.75 per share, in the quarter ended Dec. 31, compared with a profit of $707 million, or 68 cents, a year earlier.""

    IF oil stays down until summer we will see losses from whom

OXY
80.00+1.69(+2.16%)Jan 30 4:04 PMEST

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