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North American Energy Partners Inc. Message Board

dbbailey1 9 posts  |  Last Activity: Apr 19, 2014 7:22 AM Member since: Dec 27, 2008
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  • Reply to

    Been to quiet and we are slowly drifting

    by vikingnick2000 Apr 15, 2014 5:54 PM
    dbbailey1 dbbailey1 Apr 19, 2014 7:22 AM Flag

    I suspect that we will drift until there is some news on DNR legal resolutions, GARP traction news, etc. We are moving into the next quarterly earnings announcement so maybe there is some positive news in store if the production is showing some signs of life after the leaky-hole fix.

  • Reply to

    DNR earnings PR

    by pa1702 Feb 20, 2014 9:52 AM
    dbbailey1 dbbailey1 Feb 23, 2014 2:37 PM Flag

    Thanks, Bob. I've been following DNR for some time now (since I always thought that they would make a play on EPM) and managed to tuck a few shares away on the low points. I'd be interested to know the group's opinion on DNR as a long term holding. Yes...I know that the stock took a whack when they turned down the MLP route...but, frankly, I think that it is a pretty solid company for an investment. A slow and steady return producer. On the good side, it has put up extremely good production numbers for the past 10 years and I think that they have a good story for the next 10 years as far a profits go. On the bad side, I'm not much of a fan of their debt profile. Their debt is roughly 3 times their total current assets. Opinions?

  • Reply to

    DNR earnings PR

    by pa1702 Feb 20, 2014 9:52 AM
    dbbailey1 dbbailey1 Feb 22, 2014 12:07 PM Flag

    Kenneth Craig McPherson - DNR Chief Operating Officer and Senior Vice President
    I think it [Delhi production] will be flat through the end of the third quarter when we have our reversionary interest. When our reversionary interest occurs, the production will drop proportionately. We do expect productions to start growing in 2015 as we continue development of that field.

  • Reply to

    GARP Agreement.

    by sixers Feb 8, 2014 11:57 AM
    dbbailey1 dbbailey1 Feb 14, 2014 11:55 AM Flag

    I appreciate it...and I'm going to do a little searching to see if I can gain some insights on the other options you mention.

  • Reply to

    GARP Agreement.

    by sixers Feb 8, 2014 11:57 AM
    dbbailey1 dbbailey1 Feb 13, 2014 7:57 AM Flag

    Spin off companies are a dicey affair. Frankly, most of them end up dying due to lack of adequate operational funds to grow before the rip-off technology snatches their competitive advantage. End-of-life wells produce about 25% of the total gas and oil production in the US and there are hundreds of thousands of them out there. I like to think that they are all out there waiting for GARP. As such, the math would need to be pretty danged compelling for me to think about a spin off because of the funds that are needed to fuel big GARP growth are built into the cake with Delhi. Even though it doesn't cost very much to install GARP, without Delhi money then a spin off would probably be restricted to having to take operational and capital investment loans...choking debt burden...resulting in a restricted chance for the explosive growth I think might be out there for the GARP technology. If GARP technology doesn't currently have a direct competitor...then forget a spin-off as far as I'm concerned, they are welcomed to use "all" of my dividend and "all" of the profits from Delhi to do what needs to be done to capture the "tails" market.

    Jeff, do you see a comparable competitor to GARP out there?

  • Reply to

    GARP Agreement.

    by sixers Feb 8, 2014 11:57 AM
    dbbailey1 dbbailey1 Feb 9, 2014 9:26 AM Flag

    Thanks, Bob. I also listened to the CC and I think that they did a good job of explaining the current status even though it has increased in complexity as well as layers of impacting details. I walk away seeing this quarter as a "bump"...but, more importantly, an "explainable bump." Overall, I see the company moving forward with a fine strategic outlook on both GARP and Delhi. Good to hear that they are moving forward on the NG recovery plant. If I heard them correctly, they are projecting NGL recovery equaling a one-sixth increase in production. Not trivial.

    DNR earnings call is currently scheduled for Feb. 20...and I most certainly look forward to hearing any explanations on the reversion. I can't see where they have a leg to stand on in regard to the agreement as I read it.

  • dbbailey1 dbbailey1 Feb 9, 2014 8:34 AM Flag

    You certainly have been...fair and balanced.

  • dbbailey1 by dbbailey1 Feb 1, 2014 8:23 AM Flag

    Anybody have any insights into what business these guys are doing with EPM? Giddings?
    http://www.cnbc.com/id/101357698

  • dbbailey1 by dbbailey1 Jan 25, 2014 7:52 AM Flag

    Let's see, the DOW drops 300 and EPM drops 0.00...hummm.

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