I feel SDRL has hit the bottom for now, & will bounce back up to $13 maybe $14. But if Oil remain low ($55 or lower) for 3 to 4 months, then SDRL will trade under 10
Option players are now betting heavy that RIG goes to $13. Keep buying those dips boys, that is if any of you have any money left to buy those dips. LOl...
So how's that buying on the dip working out for you boys? Option player are now betting on lucky $13. Keep buying boys, that is if you fools still have any money left to buy with... LOl...
This stock knows 1 direction only, DOWN! Never go long on solar once the pump is over , it's over. Option players are betting on $13 if sanction are not extended. GLTA...
Told u dumb Bag holders that Dr. Henry Lin was a #$%$ & is sitting in jail waiting to hung. Keep buying those dips boys, all the way to ZERO!
Option players have been telling u that Rig will trade under $15. But hay keep buying those dips, u dips. LOl...
EnerU.S. energy companies are wasting little time in starting to cut drilling, jobs and spending in the wake of declining oil prices, WSJ reports.
In recent days, ConocoPhillips (NYSE:COP) said it would spend 20% less next year on drilling wells; EOG Resources (NYSE:EOG) said it would shed many of its Canadian oil and gas fields, close its Calgary office and lay off employees; and Matador Resources (NYSE:MTDR) said it may temporarily leave the Eagle Ford Shale area in Texas, where drilling recently fell to 190 rigs after hitting 210 rigs in July.
Analysts say companies with a lot of debt, low rates of return and little chance of drilling their way to better profitability, such as Triangle Petroleum (NYSEMKT:TPLM), will be hurt if crude remains below $75/bbl.
"A contraction is unavoidable,” says an economist for the Texas Alliance of Energy
gy firms slash spending on drilling as crude’s decline accelerates
The guy is in prison, soon to hung by the neck for cunning the communist gov out of money. Just like he took you idiots for a ride. Keep buying those dips boys! All the way to ZERO!!!
This one work out quiet well for MW won't you say? LOl.. Dumb bag holder....
This market is soooo Rig! Get it? LOl... See u boys at $12. Enjoy the ride down...
Iranian official predicted a further decline in prices if solidarity among OPEC members falters. West Texas Intermediate also sank.
Futures slid as much as 1.9 percent in London. Crude could fall to as low as $40 a barrel amid a price war or if divisions emerge in the Organization of Petroleum Exporting Countries, said an official at Iran's oil ministry. The U.S. Energy Information Administration reduced its price forecasts for next year while also downgrading its production outlook for a second month. U.S. output is at a three-decade high.
I can see no news that would give any reason to buy oil at the moment," Christopher Bellew, senior broker at Jefferies International Ltd., said by e-mail.
Any break in OPEC solidarity or price war will lead to an enormous price-dive shock," Mohammad Sadegh Memarian, head of petroleum market analysis at the Oil Ministry in Tehran, said yesterday. Iran, hobbled by economic sanctions over its nuclear program, wants to raise production to 4.8 million barrels a day once the curbs are removed, he said at a conference in Dubai.
OPEC pumped 30.56 million barrels a day in November, exceeding its collective target of 30 million for a sixth straight month, a Bloomberg survey of companies, producers and analysts showed.
"With OPEC looking like a dysfunctional family, no pullback in U.S. production and a lack of geopolitical concerns, it's all adding up to lower prices," Michael McCarthy, a chief strategist at CMC Markets in Sydney, said by phone today.
Jefferies downgraded Schlumberger (NYSE: SLB) from Buy to Hold and cuts its price target to $90.00.
Analyst Brad Handler said the downgrade is "based on relative exposure to areas of risk that have largely been discussed to some degree in this note. These areas include 1) seismic (an estimated 4% of revenue, although this includes land seismic and processing); 2) Russia (estimated 7%); 3) Venezuela (estimated 2%); and 4) China (estimated ~1%)."
He added, "Further, offshore comprises an estimated 40% of revenue (admittedly including marine seismic), and deepwater an estimated 1/2 of that, and, again as we have expressed elsewhere in the note, we are concerned the medium term outlook for deepwater is likely to be compromised by the softer oil price in 2015 and potentially by the impact of the corruption scandal at Petrobras. All of the above, we think challenges estimates and SLB's peer-premium."
The firm lowered SLB 2015/2016 EPS to $5.10/$6.00 from $5.85/$6.55.
With the ongoing review of strategic alternatives and the oversight initiatives being undertaken by the Company, the Company has decided to withdraw its earnings guidance for fiscal 2015 and is not currently providing earnings guidance with respect to fiscal 2016.
The following are the Companys expectations for its business for the fourth quarter:
• Same stores sales flat to up 3%;
• Retail gross margin between 39.0% and 40.0%;
• Opening of 2 new stores during the quarter; and
• Closure of 1 store during the quarter.
The balance of customer receivables accounted for as troubled debt restructurings increased to $73.4 million, or 5.9% of the total portfolio balance, driving $4.1 million of the increase in provision for bad debts