Not Redundant.. Peeps always need to be reminded and assured of what really matters in the industry as they soon forget everything when some analysts calls for more BKs Oil at 10.00 ect. Cove Point will be on line by years end too and they have a huge contract with Japan.
Oil should break 50 with another small resistance @ 52.78.. I see that point being tested next week. Normally resistance on charts take some time to bust through but you add in the recent draw-downs The supply issues from Canada just started to show up as they had their storage ready to go before the fire and it's now is gone. Expect at least 2 more weeks before that can get back to normal that's where we get most of our imports. I still see oil @ 60.00 ... Nat gas Charts are "Stuck in the Muck" every time it looks like it will break out it gets knocked down and looking at the contracts going out there is no hedging to speak of so my guess would be they expect it to go up. I would buy and dips on Gas around 2.00 as this can't go on for the next 6 months and Gas should be 2.60 before summer's end just on charts alone news could send it higher..
I just realized what happen and why the price reacted the way it did. A ton of out long Oil calls were placed when it peaked, Looks like CHK got themselves price protection. they even bought some Dec 2018..
That kind of news could send Oil to the stratosphere. It is going to happen it's only a matter of when the wells run dry. Another reason why they have been talking diversifying from the reliance on Oil money.
Profit taking/ Manipulation Not like that news was baked in. I still think 50.00 is attainable.
I think it won't be as much as expected.. My guess is - 2.2 million..
Not to worry about holding many short on Oil are expecting that may be the case too..
I was thinking on the same lines. 1 billion in asset sales is needed. What would work better is they need to sell off " all" of 1 or 2 plays and make the money work for the common stock in a big way. So what if you're not the biggest producer you can out live the competition.
A minimum price of $65 a barrel for oil is “badly needed at the moment” according to Qatari energy minister Mohammed bin Saleh al-Sada.
Other News..RRC gets a JV from a Thai Coal company Banpu . Seems the Buyouts and Mergers have been heating up lately and one would imagine that Oil rising is fueling the desire to make a deal that is giving the advantage to the seller every day that passes.
They just keep piling on..
They have been getting multiple chances to hedge 3.00 and with Oil going up Next earnings should open some eyes..