EnCana has more assets than God. And the backing of the Canadian Govt. They can announce spending cuts if the Oil price goes down to 30, but 60 ain't bad in my opinion
TPG was an uninformed outsider, who couldn't hold Wards jockey strap. I bet he is laughing all the way to the bank at us fools
I can;t believe that anybody in their right mind will be drilling TMS, other than lease maintenance wells, at 50/Bbl. We need to cut CAPEX to the bone, Now.
Man, I hope we have loose collars on those hedges, and can stand some 40 buck chuck. My gut says that Oil will fly back to 70, and surprise everyone, but I think the Fed, and Saudi, have gotten together on this crash.
Cooperman made some comments yesterday that indicate he has no clue about SD's operations. He said that he has been "reading lately" where these Shalers (SD primarily) have to continue drilling and fracking in order to maintain production.( No kidding). He stated that at these Oil prices the banks would be hesitant to loan to them to continue drilling.(no Kidding). I don't think he did his homework on SD. Neither did I, I guess. He has real bad advisers in my opinion, and will sell this thing if and when Oil gets a pop back to 70.
I know for sure that Floyd wants all his friends out whole. He could wait a year and get right back in with the knowledge he has. Extensive basin data all around the US.
Doesn't matter. If an operator wants out, they can get out for a modest penalty. SSE has CHK as their daddy, so I see this thing as fairly safe at 4-5 bucks.
I think this oil free fall will be beneficial to most of the mid to small size operators in the long run, if there is a long run for SD and HK. I would have thought they would have cut CAPEX 12 months ago when WW3 in the Middle East didn't budge Brent. Now they will be forced to cut by 75% just to meet payroll and Interest tab. The banks need a spanking too.
If UPL goes to 5, I will go on margin for the first time in my life, and buy this boy by the shovel full.
Nothing is going on. We are not up. This happens when an early trade is missed and then is filled once the orders are balanced. This thing was bailed out on by some big guys today. Tomorrow those shares will be distributed to some unlucky soul.
That's our only way out as a commoner. The preferred people and Bondholders would cry foul, however.
The gist of my comment was intended to state that the management team, if they were a confident bunch, would buyback shares knowing it would be at bargain basement prices. I haven't seen anybody jumping in there to buy. You may be right geern