On the other hand, vlono, you have been dead on with your steadfast sticking with this winner. Hope it goes to 80. I have been out since 28, selling my core when I had a 10 buck profit. I think I would sell a refinery about now, by the way. They ought to get top dollar
Those four are in the can. Hope they don't announce a half billion dollar loss on hedges or some accounting adjustment like in the early Klesse days. He sold 40MM shares at 20, and now we are buying back 40MM shares at 65. Crazy. I remember those long lost days.
Alice, Karnes City area Texas, They are heading for the courthouse steps in the coming months. They are still fracking and hauling off waste materials from locations, but he end is nigh.
Yes. A 1982 18k President. The Sheikh handed me and the two Drilling Foremen each one at an AMOCO dinner at his Palace. AMOCO Houston did not like that. I would not relinquish mine, however. The Sheikh, 6 guys with AK47's, me and the Drilling foreman were taking turns shooting a flare gun into the Flare pit, and when it ignited the m#$%$ive initial fireball (heavy condensate laden gas) overlapped us by 20 feet. We were all running like brothers in arms back toward the rig. Christians and Arabs hauling #$%$, with hair singed I believe that night got us the Rolex.
KD. I Engineered and Drilled the then, Wildcat Thamama Formation in Sharjah, UAE, in the early 80's. This massive Vugular, Dolomitic Limestone formation open flowed at 90MMCFPD, and 6000 BD, pre acid frac. 300 feet of net pay vertically.The Sheikh handed us all 18K Rolex president watches within a month.
The key, is that with a properly designed HiVolume, Hi pressure HC Acid frac, we were able to selectively produce that baby without reservoir damage or improper drainage. We had to build an NGL plant which rivaled Saudi in scope to handle the useless NG at the time.
Has Suadi fracked that Ghawar on a large scale?
They will all be shipping coal hand over fist, at increased volumes. Coal might even retake the lead in Electricity generation when it is shipped for half price to satisfy debtholders. Then a few new reorganized outfits will sucker in some new common IPO holders. Wait about 24 monhs
All the CEO's (SD, HK, ECA etc) will blame Oil prices, but all the price collapse did was expedite their demise. Just cut their living high off the hog short.
Bennett will try to tell us that the Oil price crash is what did SD in. That will not be the truth. If he is honest, he will say that the Mississipian was a gamble gone bad, and that SD sold out the crown jewels to stay in the game. A severe depletion drive/high SW producing reservoir with no sweet spot. He and Ward brought this baby down, not 60 dollar oil
The Saudis are pushing back the swap out to electric and NG by 10 years with their output increases. They can do more to drive the price down. Another MMBOPD more easy. And they don't frack much, which has their cost down to about 15 bucks a bbl. Maybe an acid wash once in a while to clean the perfs
100 will do very little for HK, other than bring it to 3 bucks. The bloom fell off of these fracker juniors. I don't see it surviving at 65 past Christmas
Probably restricted from doing it by covenants, but I would buyback around 100mm common about now if I were ACI. They spend 40 mil a week chopping coal out of the ground. Buy some paper.