Intersting to note the Saudi's offered to cut production if Russia also cut and Russia said no. Seems to me with Russia's lower Ruble price its oil companies have high profits. So far its Saudi 0 Russia 1. Platt's has publicly listed the 5 oil producing countries it has on watch for collapse at these low prices: Iran, Iraq, Venezuela, Nigeria, and Algeria.
Thanks, delayed reaction at last.
NG stockpiles were 9 BCF higher than expectations. Hot summer-like weather is forecast for the next 15 days in Chicago and NE so I think NG could get a nice bump coming.
I know he cares about ATLS shareholders. I am holding on to a bunch would love it if he throwed us a bone. I got even more ARP but at least I get paid to dull the pain.
A 5.5 m draw on crude is not canceled by an increase of 1.7 m in gasoline & 1.4 m increase in diesel but people expect lower demand and higher stockpiles as the driving season ends. They may be right on demand but I think they are wrong on stockpiles. The last big oil price drop really flattened out the oil price contango and the will mean less profits to store oil in the US and thus lower imports to put into storage. Imports and stockpiles were down again in the gulf. Another 20m bbl decline by year end will put oil back in the $50s IMO.
I don't see a US oil production reduction this year.
Stockpiles fell 5.5 m bbls instead of a 1 m gain expected and oil is down as gasoline stocks were up 1.7 m Vs an expected drop down of 1.3 m. Last week oil dropped after a 2.7 m drop in gasoline because oil stock piles increased. Heads oil goes down, tails oil goes down.
I don't understand why you post about covenants and coverage. I'll bet you have never collected a dist let alone held over earnings. If you buy it at $6 you will be selling it a $6.30 You are a John! You should change your name to Short timer John.
They are not going to combine until GM combines with JC Penny, the rumors are just that. ATLS has its private drilling group active in the EF and shares in ARCX which owns oil terminals. They own shares of ARP and own its GP. Another branch is expected at some point. For now ATLS is paying off debt, it just extended the debt and lowered the rate; and is looking for a good priced loan to get the next branch going.
Up to 100,000 barrels a day of light oil and condensate will be exchanged for heavy Mexican crude, according to Petroleos Mexicanos, the state-owned oil company. Reported by Bloomberg.
at the lows of the day $3.63 interested to see if the pessimism last longer than today. Oil bounced off its lows today and I expects shorts to be covering going into the weekend. Tomorrow lots of ARP investors are going to be getting their milk money and ATLS is still cheaper than eggs and it goes great with bacon that I hope to be makin'
I'll tell you the truth about Zacks, its written by a drug dealer who everytime he tests a new shipment he writes some investor bunk. Don't bother reading it unless you want to figure out how good his lysergic acid is. If he runs out of drugs he writes the colum using hermit crabs that randomly type while running around the keyboard.
I really think there is no funds left that own any of these so IMO the selling is done. Maybe its just some early adopters getting back in a bit. There is a long way to go and a lot of people and funds are going to watch this double and tripple before they think its safe to get back in and that oil will not go to $1 a barrell. We will get an upgrade to buy at $10 from Wunderlick after we are at $13.95 thats how dumb the research people are.
I really like in the EIA report today that Gulf oil stockpiles continue to fall nicely. We are at 225 million down from over 240 and I am hopefull we can get to around 200 by year end which seems likely now that contango prices are lower going out the curve. That should be supportive to oil prices even if nothing else good happens.
Leon bought ATLS on Thurs and Friday. I bought it on Wends and Thus. I bought more ARP too. I wrote this as a bit of a send up knowing the stock would knock it out of the park today but wanted to see who if any was crazy enough to post something equally batshtt against Leon who toughed it out all the way to the bottom. Yes, he was cranky on the call but with good reason. On a day ATLS closed up 17% seems Leon is set up to have a very nice Chanuka. Congrats everybody.
Thanks to the three people who gave me thumbs down you have renewed my faith in investors.