SD has always been about enriching their employees and contract workers. The reason they floated those Trusts was to raise cash, provide work, and rid themselves of some cruddy property while they were at it. The common shareholder is still looking for a bone, which Wals St doesn't think is forthcoming.
The new American way. Those folks will never get off the Plantation, and more are coming in this wonderful economic rebound. More Democratic votes. All races and all 4 genders included in this mess.
You can fight with your money, if you want to keep fighting.
That $200MM buyback could be doubled, and with the stock at 3 bucks, they could reduce share count by 25%. No way they help us commoners like that. The preferred stock, and bond holders would cry lawsuit
All these beaten down Shalers are bailout candidates, at half price what they were 3 months ago. If I were Shell, XOM, EOG etc, I would get these on the cheap
c9, are you in HK?. That TMS is a tough area to keep the hole open drilling vertical, much less 7000' of Horizontal.? I Engineered some wells in Pt Coupee Parish back in the 80's and we had collapsed casing on two wells just above that shale section. I am in for a few thousand shares, and I think Floyd wants out of there.
If they kick in another 200-300MM bucks, rather than drill those crappers in the Miss, they could buy +-100MM shares back. That is our only ticket out of this freefall. Oil px will not see 100 again until WW3 breaks out.
When an insider buys down here with his or her own money, we can probably start averaging down. This drop is hard to believe. Like a 75 dollar stock going to 30. Has to be institutional bailouts
If those production casing strings continue to collapse, due to unconsolidated rubble and shale shifting, the game is over in the TMS in those areas. Higher compressive strength Cement will not help for long. It might take a year or more to get those failures, but I think that was a problem 30 years ago on the Tuscaloosa deep vertical wells in some Louisiana parishes. That would have me concerned if I were a major shareholder. Me? I have only 1000 shares and could kick myself for not selling at 7+.
If I were the local Law Enforcement there, I would turn it over to the Fed cops to control the upcoming rioting. Ferguson police are obviously trained to not inflict bodily harm. If they weren't, there would have been a bunch of folks laying on the ground a few months ago.
Upon further review, I am with your 25 to 30% cut in CAPEX for 2015. And maybe 150MM dollars in additional buybacks, getting us to 5+ anyway. Conserving cash is mandatory right now. Finish off those Trust obligations
The reason Obama and the Dems want to increase Min Wage is that folks on Welfare are living better than the workers are. You'd have to make 30 bucks/hour to live like some of these loafers. Free health, food, housing, utilities, and vouchers/subsidies for about everything else. It is an embarrassment to be working anymore, when your neighbor is laid back, laughing at you