That rig count continues to fall... Down 24, and today another 29. EPA mandates hit next month and there could be a gas shortage pending what or how much carbon is allowed to be discharged. 1,000 for NG and 1,800 for coal.... Might even charge the utilities for burning the coal... Pay for the carbon...enough that NG and coal are a break even at 4.50 NG.
I'm sure most all MF managers cleaned their books of stocks that have lost 80% of their value. Glad the first Qtr is over. Get some decent drill hole data back from the RDS venture along with better NG prices and we might see Quicksilver added to a lot of funds during the 2nd and 3rd qtrs. Also don't forget the April 2013 EPA ruling in regard to carbon emissions and how this plays out. Bad place to be short unless your short against the box waiting on news to break either way. Good luck next week and happy Easter.
After hours prices do not count toward 401k price buy-ins. Things change after today.
Supply is shrinking vs demand. -30 units is very bullish on NG prices going forward. In three weeks we will be below the 5 yr storage average.
Other companies, like Quicksilver Resources (NYSE: KWK ) , see great potential in its Niobrara acreage. It’s not alone; it recently closed an acquisition and exploration agreement with Shell (NYSE: RDS-A ) that covers 320,000 acres and an area of mutual interest that covers 850,000 acres. Quicksilver not only picked up some cash in the deal but it also picked up a world-class partner. It's also looking to further de-risk its acreage by signing on another third-party joint venture partner to help further fund its development. Quicksilver is very optimistic about the play and sees the Shell venture as validation of its efforts that this play will pan out.
Shell’s not the only energy giant that’s looking for big things from the Niobrara. ConocoPhillips (NYSE: COP ) has amassed 130,000 acres in what it believes is the newly identified sweet spot in the play. Last year it drilled four horizontal wells and saw early production rates in line with its expectations. In fact, the company is seeing higher liquids yields than the Wattenberg, which has been a big driver of value for Anadarko. Because of this, Conoco plans to ramp up its activities this year and drill 32 wells.
I believe RDS and KWK plan to drill 8 this calendar year? They might be drilling today, I don't know the timeframe from Rig Deployment to that region and start dates. I wouldn't want to be short after the drill hole data is released.
Over the next three weeks we will find out if the company associates are going to follow through and buy a higher stake in their own company. All paper work has been filed, pps has worked down, a deal with new dedt restructured and another JV going after the oil in Northern Colorado and Wyoming....going to be an interesting summer.
And if anybody can make any sense out of it, I'll buy you a Bud Lite! Have a good weekend and let hope next week brings higher NG prices well into the $4 range.
After last weeks + 24, now -30....rig counts still falling.
Its appearing as bad news after the bell, however an earlier 8K was submitted that gave authority to the Dardens and other officers to aquire more than the original partner agreements. They can now buy all they want up to 40% of the company....afterward have to proxy. Insiders are holding 51M of 170M shares...exactly 30% of the company. I don't know of any other NG player, coal co., oil co..that is holding that big a % of the shares. I smell smoke. Price falling to where it is now allows for the other company associates to purchase cheap shares the day after the re-stated earnings are released.... I say its being held down for a large aquisition and volume will resume higher above 3M per day after the release. Problem is...they said it would be released by this week...and i don't see it.
Form 8-K for QUICKSILVER RESOURCES INC
Temporary Suspension of Trading Under Registrant's Employee Benefit Pla
Item 5.04. Temporary Suspension of Trading Under Registrant's Employee Benefit
On March 18, 2013, Quicksilver Resources Inc. (the "Company") sent a notice pursuant to Section 306 of the Sarbanes-Oxley Act of 2002 (the "Notice") to its directors and executive officers informing them that, due to the Company's inability to timely file its Annual Report on Form 10-K ("Annual Report"), the Company would not be able to issue Company common stock, $0.01 par value
("Company Common Stock"), pursuant to the Quicksilver Resources Inc. 401(k)
Plan, as amended (the "401(k) Plan"), commencing on March 18, 2013 and ending on the date on which the Company files its Annual Report (the "Blackout Period"), which the Company expects to be during the week of March 18, 2013. During the Blackout Period, participants in the 401(k) Plan will not be able to purchase or otherwise acquire interests in Company Common Stock or make changes in investment elections or deferral percentages in the 401(k) Plan that would result in any purchase or other acquisition of Company Common Stock. During the Blackout Period, all directors and executive officers of the Company will be prohibited from, directly or indirectly, purchasing, selling or otherwise acquiring or transferring Company Common Stock (or related securities, including derivative securities) acquired in connection with employment or service as a director or executive officer of the Company.
Stockholders or other interested parties may obtain, without charge, information regarding the Blackout Period, including information as to whether the Blackout Period has begun or ended, by contacting Francisco J. Villamar, Legal Counsel and Assistant Secretary, 801 Cherry Street, Suite 3700, Unit 19, Fort Worth, Texas 76102, or by te
Short term don't know. Want to read the earnings re-statement and see what they actualy made/spent/ and debt they have to cover. Price received for the gas sold, vs todays prices, etc. It will all shake out soon. NG is heading higher.
Per the 8K filed "expected the week of March 18th". Whole company is in a black-out period, no trading allowed until it is released. If released after the close today, they can purchase Monday, and I'm sure they'll like these lower prices. One potential problem... Earning $199 Million more than stated will require a tax payment due unless other things can cancel that error. Does the company have 45 Milllion to pay the US Gov and canada their taxes?
Short-Med and longer out prolly 50-60% above $5. But the other % should have doubled in value. Evidentally they plan to spend no more than they take in for a few years. Keep adding properties and a few wells in producing areas to hold prod volumes where they are. The RDS venture holes from last year produced 100MM B/day according to press releases. I don't know if thats a low volume number, high, or med indicator of what they will find, but when the 8 wells are drilled we should know what that property is worth.