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.
I say sink the warship...then maybe they think different about funding these wars...That be Iran...Truth be known it was a big problem in settling down Iraq...One thing for sure someone selling arms to these different groups such as ISIS and the like. They surely are not making them their-selves...
amory you must be easy to please....As I am always disappointed with SD earnings...I really never like their well results as they too close to the margin...I would feel better with a bigger margin which would mean more boe/d per well....BWDIK....
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....
Ahh, we should of had Mitt Romney as President. I think he would left enough troops in Iraq that there be no ISIS there now...And last March when Russia took Crimea and started shooting elsewhere we could of had a Division to two start doing military exercises with the Ukraine like say in Poland or the very west part of the Ukraine and call it advance training for the Ukraine Army...maybe that would of slowed down Putins ego..
I guess Afghanistan does not want ISIS to come there when Obama and Dems remove all the troops y June...I mean these people Dem never read a History book about these things and believe they in modern Times know a better way.....That being Idealistic....Hello marx had a nice idea only it did not work in practice or the real world....hm, go figure...
Wille, """alan dershowitz: unlike the president, i actually listened to what the prime minister had to say and the president totally misled the american people yesterday when he said there was no new proposal. There was a dramatic new proposal, let me read it to you, ‘if the world leaders are not prepared to insist that iran change its behavior before a deal is signed, at the very least, they should insist iran change it’s behavior before a deal expires.’ this is a new proposal. A proposal that the prime minister said israel could live with even if they don’t like. Namely, before the sunset provision kicks in, before iran is allowed to develop a nuclear bomb in ten years, at the very least they have to a) renounce terrorism b) stop interfering with other countries like syria and lebanon and c) stop calling for the extermination of israel. That is a new proposal and the president of the united states has an obligation to answer that proposal instead of getting into the gutter and name calling""
FROM Forbes the biggest oil companies
""The Oil Bust Of 2015 has already begun to claim the weakest of these operators: Saratoga Resources , BPZ Resources and American Eagle Energy have all missed interest payments are are heading toward restructuring. Quicksilver Resources and Cal Dive International have filed for Chapter 11 already. Many others are fast running out of cash.
Clint9, I have not DD sd... If I had I would know how much production those trust keep. I think SD finishes Trust drilling this QTR. I think the CC said 120 wells for the trust and SD would drill about 180 wells this year.
After that SD could really cut capex to 300 mill a year...or 200 mill(60 wells @ 3 mill a well is 180 mill.) @ 2.4 mill per well 60 wells would be less than 200 million....they expect an increase of production this qtr, of 6%.
6% on 28.8 MMBOE is 1.4-1.5 which would make annual production 30 MMBOE/annually. decline of teens call it 13 % end of year production 2015 roughly 26 MMBOE/annual...
What i do have est on is average oil price SD will get without hedge and $50.00 oil...at $90.00 it is $49.00
I'll try an est. : 1/2 of 26MMBOE or 13MMBOE @$50.00=
$650 mill versus average oil price
$70.00( 260+650= 910) 2014 70x 14( 980 mill) I'll give NG $30.00 x 14(420) 2014 Rev guess from above 420+980= 1.410 Billion.
2014 guess 650 mill )using same number for NG as 2014) 420.
650+420 = 1.080 bill....??? any Free cash flow IF they add 400 mill more debt from credit facility ouch ....I am thinking SD thinks they can make 100 million cash a qtr....We will just have to see how well SD hedges work out.
Interest exp is plus 217 mill annually....
hence the price rise of SD to make the increase look like it might be successful....Say thank you Underwriters(Bankers and the like)...Just my guess. They always play up the price before distribution to the public shareholders....This happens many times in the micro cap stocks...almost always not good....(95% of the time)....BWDIK.....
For this reason: ""Phillips 66 executives say operations at its 200,000-barrel-per-day refinery in Ponca City, Oklahoma, only 62 miles (100 km) from Cushing, have improved since it began getting more of its crude directly from wells in the Mississippian Lime shale patch nearby.""
"" While the blends of these crudes may technically meet the API gravity ceiling of 42 at Cushing, industry players say the mixes can be inconsistent in makeup and generate less income because the most desirable stuff is often missing.
The blends tend to produce a higher proportion of fuel at two ends of the spectrum: light ends like gasoline, demand for which has dimmed in recent years, and lower-value heavy products like fuel oil and asphalt. What's missing are middle distillates like diesel, where growing demand and profitability lies.
"You end up with a dumbbell-like material rich in front and back ends, neither of which refineries find most profitable," said Dennis Sutton, a former chemist and retired crude quality expert with Marathon Petroleum Corp who now heads the Crude Oil Quality Association.""
Refineries are going to the well instead of the blended from pipelines out of Cushing....
Tell us to expect production totals to start to decline in May?
Really? " ConocoPhillips expects output to rise 13 pct in next three years"" The big OIL or Majors talking increasing production why COP'
s increase will total SD's entire Production/
Well if sucking oil or producing oil causes earthquakes then so does the extraction of water from water wells for drinking bathing and farming BOZO's.
Pre 1967, Yep ""The Israeli-occupied territories are the territories occupied by Israel during the Six-Day War of 1967 from Egypt, Jordan, and Syria. They consist of the West Bank, including East Jerusalem ; much of the Golan Heights ; the Gaza Strip, and, until 1982, the Sinai Peninsula. Israel maintains that ..."" And those countries forced their countrymen to stay.
I think It should all be annex to Israel after all those countries lost the war.
Making a Palestinian State is just setting up for future trouble. Let them go back to their original countries, oh it's been 40 plus years....My point is if the World wants to make a Second Palestinian State(Jordan being the Original Palestinian State) Means Egypt, Jordan, and Syria is going to have to give uo their lost war territory , RIGHT? If so, then That Territory Might as well be Annex into Israel...No Palestinian State. You see how absurd creating a New Second Palestinian State is!
Yep, Its always made me crazy when Corp managent announce Big liquidity and they are talking about a revolver....DEBT is not liquidity in my books but executives and analysis have the market believing it is. Makes me want to punch em in the nose.
Arab Spring...smile, Yep, it was all because of Bush right and nothing to do with thier way of thinking and beliefs....Yep, and they claim to be smarter. I guess one could believe that if you ignore the failures like the Arab Spring....
IT is my contention Earthquakes will happen anyway and all the drilling fracking may do is release the build of earth fault pressure early thus making any earthquake smaller less violent...but the enviro's have no wisdom in their thinking. It is because of the enviro's why we have corn methanol and clearly that was a bad idea.(certainly using the tech we have today on corn methanol)....But that will not stop em... even the farmers lobby for it .