He, he, if you recall he was long and w/o hedges when Nat gas hit $2.50. On top of that, he was highly margined when the stock tanked. Yeah , he is a great market timer . Now he is paying top $$ for fields during a time that prices are declining. However, he as well as us, look at the industry from a long term point of view, not qtr to qtr.
They are excluded from export bans,
It was the first exported cargo of Alaska North Slope (ANS) crude, which is largely excluded from a 40-year U.S. ban on oil exports, since 2004. U.S. government data showed it was the first crude oil exported to South Korea since 2000, excluding a recent cargo of lightly processed condensate exported from the Gulf. Caltex also bought the condensate cargo.
Anything to help lessen the downward spiral of WTI.
We are hedged but it will start to effect production, especially for the internationals that need $100. IMO, OPEC will start to freak out and take some action. Projects all around the world are already being put on the back burner as we speak.
It was felt they capped the upside when oil was $107. Well, it did hurt then and now they will help.
I have been arguing on this board for some time about the need for large buy backs. It appears they finally agree and have started some substantial buy backs and that should help going forward. However, there is SOOOOOO much more work that needs to be done it that area. They need to get it just under a Billion shares.
Lawler building his own management team. I am sure he has given thought to replacements of all AM's management team. AM had good people surrounding him but no one is irreplaceable .
Shorts are trying to wear us out but Fall has officially started and Winter Nat Gas months are trading. Remember, Bulls make money, Bears make money, Pigs get slaughtered.
Most analyst know this a short pain for long term gain.
It will be interesting to see the Sept numbers
They must return because the previous American soldiers taught the Iraqis to run, now they must be trained to fight.....wink, wink
Who will build raods for all those expected car sales? Anyone know of a publically traded road builder? Ironically, My fracking oil companies are in the toilet but the sand suppliers for the frackers have more than doubled. Maybe we should play this differently.
How long was AA in the dumps and now, because of Ford, they are doing much better. Ford hitting a speed bump but expects better times in 2015 forward.
I have noticed all my large float companies get very manipulated. Then you have Elon's Musk companies that have very small floats and are bloated pigs. IMO, the shorts don't feel like there is ever a major problem covering their shorts on high float companies, so they , "have their way with them".
Reinhart just lost half his employees when they sold SSE. Maybe he felt concern for his job, or did not approve of the SSE spin-off?