LOE is being lowered. West TX drill data initial IP happening now... looks like their going after West TX and HRB... Costs and overhead falling big. Great news.
just hit mine too... Great news.... Lease Operating Expense falling ...less employees....Westb Texas is where the money will go...and of course HRB!
Very, very, very bullish. Underlying demand (non-heating) is still strong and we had a mild summer last year. The build season will tell all and Rig counts going forward should start to increase as long term futures at higher prices will allow to drillers to return to the gas fields and at least make a profit.
1,300 mi swath from Oklahoma to Chicago to Philadelphia to NY to Boston to Maine. Historical 6-12 inches for 1300 mi over 4 days.
Needless to say, the last time storage was this low the price of NG was ? and KWK was? It never has gotten this low before....and we had a very mild summer....a normal summer and inventories will not be replenished fully.....Rig counts stay low, then NG stays higher.
Keep remembering the Rig count.... currently at 350..... 1/5 of what it was when we created the glut. Most all 80% of the rigs are tied up on oil contracts for several years.....they cant switch off until they are finished. By 2015 the US will be energy independent per a press release earlier this week and today the US is the largest producer of oil!!! get that. Power plants need the gas to reduce the carbon....I dNK what the Chicagho traders are planning but they will take full advantage of these run ups.
Current storage is at 1,348. New Forcast within the last 12 hrs - projected drawdowns:
Current = 1348
Week 1 = -158
Week 2 = -191
Week 3 = -120
In three weeks the US will be at 879 bcft left in storage....an astronomically low number we have never been that low. The glut in NG is gone.....NG prices are headed higher and RIG count will be released this afternoon...hold on for the ride of your life.
So, in the past low levels of NG caused prices to go up 2X where they are today. However, in 2014 we are dropping 10% below the all-time level and it means nothing? Don't think so. HF's will be finished soon enough.
I'm fully loaded again.... we really are in a NG shortage... It might touch the 50 day MA but I pulled the trigger and am 100% in KWK. Very very very cheap price given all the circumstances surrounding the company and the NG market. Here we go!
Current storage = 1,486. Less the projected draws the next 4 weeks as of the updated weather forcast: -97 bcft, -169, -173, -104 and by the 3rd week in March storage will be 943.....We have never seen a storage level that low.
I sold my Wlt.... KWK is too cheap. Took a $.12 loss on Walter....I'm fully loaded in KWK as of 10 min ago.... and we are in a major NG shortage that should support iit through at least May.
Buy wlt at $10.10. You prolly got it already. Bought 2 more weeks and kwk should turn. They got things they want to tell but can't until earnings cc.
Surely the insiders who bought $18-$19 range know what the Buyout price would be....they know what the company will sell for to BHP or CLF.
Short term bounce until the shorts decide what they want to do.....When they do decide...it will be a quick move up or down.
Ahe 10-4 KEM. I bought a large block late today. How do we look the next few days in WLT......this company is in my back door...roughly 30 miles away. How long do you think it will it take KWK to get going again?