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.
Nothing is going on. Floyd just bought a mil at a buck, and probably will do it again when oil slides to 50. HK needs a white knight or any color knight to come in and partner up. That would get us 2 to 3 bucks for our wallpaper.
Yep, going from 7.5 to 1 was not too bad, if you had bought puts to protect yourself
I think I will add tomorrow, Thursday, just to bail out somebody here. It's a call option now
He has the Seismic, Log, Geological, and offset drilling data, which we paid for, to take with him on the next capitalization. Matter of fact, I might invest in the next IPO he puts forward. As for us current commoners, we will get the debt minus assets, which is currently below zero. Hoping for the Saudis to cut production by 4 MM BOPD.