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Reliance Steel & Aluminum Co. Message Board

cigarindian 57 posts  |  Last Activity: Nov 20, 2015 8:15 AM Member since: Jul 17, 1998
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  • Reply to

    ONE MORE NAIL in the coffin

    by illpay4yourkitty Nov 19, 2015 8:36 PM
    cigarindian cigarindian Nov 20, 2015 8:15 AM Flag

    Thanks Dicker!

  • Reply to

    Oxy to exit North Dakota's oil fields

    by floydslittlebrother Oct 15, 2015 7:50 PM
    cigarindian cigarindian Oct 16, 2015 6:19 AM Flag

    & the rest of article follows -

    To be sure, Oxy has not considered North Dakota a core part of its portfolio for at least a year and had openly sought a buyer. Most of its acreage in the state is in Stark and Dunn counties, farther south from McKenzie and Williams counties where much of the Bakken development is occurring.

    Developing that acreage would require a diversion of capital that executives did not seem willing to allocate. The company has been the 16th-largest oil producer in the state for some time, lagging even much-smaller companies including WPX Energy Inc (WPX.N) and Oasis Petroleum Inc (OAS.N).

    Oxy executives had constantly bemoaned to Wall Street its high cost of drilling new wells in North Dakota, despite the fact that peers have consistently found ways to be more efficient.

    While the high cost was partially a function of the company's geographic location, it also was born from a decision to spend more of the company's capital budget on operations in Texas, Oman and Colombia.

    North Dakota "just can't compete with our Permian Basin (Texan) assets and we don't think it ever will, so we do want to monetize it," Vicki Hollub, Oxy's executive vice president and the named successor to Chief Executive Steve Chazen, told analysts three months ago.

    Lime Rock, which holds acreage in other U.S. shale plays, is already moving fast to cut costs by requiring all of Oxy's North Dakota employees to re-apply for their jobs, according to one of the sources.

    Lime Rock and Oxy, both of which are based in Houston, declined to comment.


    The sale comes less than three years after Oxy spent $8.8 million on a gleaming blue and gray steel headquarters for operations in the state, which Chazen bragged at the time helped boost the company's oil production to an all-time high.

    Today, with oil prices at levels not seen in six years, the regional office in Dickinson near the state's western edge holds far fewer employees than its size allows.

  • cigarindian by cigarindian Aug 5, 2015 9:59 AM Flag

    The company? Any actual news at all?

  • cigarindian cigarindian Jul 3, 2015 8:53 PM Flag

    Thanks Clambo!

  • Reply to

    Sneffels pad started

    by zoom_bee Jul 3, 2015 7:36 AM
    cigarindian cigarindian Jul 3, 2015 8:53 PM Flag

    Thanks Clambo!

  • Reply to

    Oil is up - Pre-market $1.59 61.99

    by mercer32208 May 6, 2015 6:45 AM
    cigarindian cigarindian May 6, 2015 11:09 AM Flag

    Crude Oil (WTI) USD/bbl.62.51 +2.11 +3.49% Jun 15 10:32:27

  • Reply to

    Great News - MORE DEBT

    by tucker3210 Apr 21, 2015 9:44 AM
    cigarindian cigarindian Apr 22, 2015 8:16 AM Flag

    Thanks Trade. I'll head out & short the tar out of this right set now. You rule. What else you got?

  • Reply to

    US crude to drop to $40 as stocks rise: Goldman

    by cincyyyyy Mar 9, 2015 8:40 AM
    cigarindian cigarindian Mar 11, 2015 9:59 AM Flag

    Add Bloomberg

  • cigarindian cigarindian Mar 2, 2015 10:29 AM Flag

    is Value Digger/Clambo/Dan Dicker

  • Reply to


    by crosscourtforehand Feb 26, 2015 1:33 PM
    cigarindian cigarindian Feb 26, 2015 1:39 PM Flag

    Drilling and completion capital expenditures for 2015 are being trimmed by about 6% to $350 million-$400 million (from $375 million-$425 million as initiated last month) to reflect ongoing reductions in service costs.
    In the Bakken [North Dakota, Montana, Canada] and Three Forks [underlying the Bakken], authorizations for expenditures in its core Fort Berthold area have declined by over 20% from its fourth-quarter average to $8.5 million with expectations of another 10% savings by mid-2015. In the East Texas Eagle Ford, Halcon has seen about 20% savings in well costs from the fourth quarter to about $8.0 million (three-string well design) with expectations of another 10% or more by mid-2015 and another 10%-15% into 2016; 2015 production guidance was reaffirmed at 40-45 thousand barrels of oil equivalent per day (mboe/d). We’re upping our forecast to 42.5 mboe/d from 42.0; consensus is 42.7.
    -- Chad Mabry

  • Reply to


    by crosscourtforehand Feb 26, 2015 1:33 PM
    cigarindian cigarindian Feb 26, 2015 1:38 PM Flag


    Halcon Resources (HK: NYSE)
    By MLV & Co. ($2.01, Feb. 26, 2015)
    We reiterate Halcon Resources at Buy and raise the price target to $3 from $2.50 on an improving outlook.
    Halcon (ticker: HK HK 0.746268656716418%Halcon Resources Corp.U.S.: NYSE USD2.025 0.0150.746268656716418% /Date(1424979178201-0600)/ Volume (Delayed 15m) : 2281740 P/E Ratio N/AMarket Cap 849100352.41663 Dividend Yield N/ARev. per Employee 2852630More quote details and news »HK inYour ValueYour Change Short position ) has been on the defensive ever since the oil-price downturn exposed balance-sheet and liquidity concerns. But positive surprises in the form of a very strong reserve report and the reaffirmation of its borrowing base are helping to prove such concerns overdone. We expect Halcon to get back on offense as oil prices continue to recover.

    Investor focus has been firmly on the balance sheet and liquidity, so the recent reaffirmation of its borrowing base at $1.050 billion is a significant event. We had been forecasting a nearly 15% reduction (to about $900 million) upon its spring redetermination as reserve growth was expected to be overcome by a lower price deck. The company’s liquidity was greater than $550 million at year-end 2014, which is more than sufficient to handle a forecast outspend of less than $50 million for 2015.
    Halcon’s liquidity position is protected by one of the strongest hedge books in the sector, including 90% of 2015 estimated oil volumes hedged at a weighted average floor price of about $87 per barrel and two-thirds of 2016 estimated oil hedged at a weighted average floor of about $84 per barrel. For perspective, we expect this to translate into realized gains of greater than $350 million this year, or about one-third of revenue.
    The company’s 2015 capital-expenditure budget has already been cut to the bone, yet it is still finding ways to squeeze savings. Drilling and completion capital expenditures for 2015 are being trimmed by about 6% to $350 million-$40

  • cigarindian cigarindian Feb 21, 2015 6:31 PM Flag


  • Reply to

    Impairment charge

    by cigarindian Feb 17, 2015 12:29 PM
    cigarindian cigarindian Feb 17, 2015 7:00 PM Flag


  • cigarindian by cigarindian Feb 17, 2015 12:29 PM Flag

    Can someone flesh out exactly what this means -


    Impairment Estimate

    The Company estimates that it will record non-cash pre-tax impairment charges totaling $150 - $250 million in the fourth quarter of 2014.


  • Reply to

    Down Down Down

    by reddagger2004 Feb 10, 2015 9:43 AM
    cigarindian cigarindian Feb 10, 2015 11:46 AM Flag


  • cigarindian by cigarindian Nov 12, 2014 10:08 AM Flag

    The sky will fall and you will sail right off this flat world. Watch out Chicken Little.

  • cigarindian by cigarindian Aug 25, 2014 8:46 AM Flag

    Wunderlich Securities Sees Even Better Things To Come For Halcon Resources

    Read more:

    In a report published Monday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating and $9.00 price target on Halcon Resources (NYSE: HK).

    In the report, Wunderlich Securities noted, “Halcon Resources (HK) last week announced that its second TMS well was on production and showed a solid initial production rate given the short lateral. This is certainly good news and shows that HK and many other operators in the region have shown solid progress in the play as well results improve as does the understanding. Outside of the TMS Halcon continues to generate strong results from the Williston and El Halcon plays that supports its solid growth expectations for 2014 and beyond. After the company's strong 2Q14 results and this recent news in the TMS we are surprised the stock has retraced some of the gains of late due to a weak energy tape. We feel these catalysts (as well as future ones) should lead the stock nicely higher.”

    Read more:

  • cigarindian cigarindian Aug 1, 2014 2:09 PM Flag

  • cigarindian by cigarindian Nov 21, 2013 11:28 AM Flag

    & now above. so what y ou think for the next 3 mins...up, down? how about that backside pirate value digger. no doubt you're lurking - give me another bait me switch me otc canadian penny stock. r u the same clown as the other pirate josh young? own what you pump & own up. tell me about petro river piree! i'll stick to this ship thinner or thicker; tell me i'm wrong now and is so later.

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