The debt is large, but not anything they can't handle. I think they are being overly cautious because they are unsure what will happen with the Rosneft JV. If that happens they will be ok, if not, it is a $10 stock.
M* says there is 8 billion dollars of equity here, roughly a FVE of $21 a share. The market is valuing it at less than 3 billion dollars. (?)
Although the estimated reserves at 13 billion bbl equiv. has not changed since 2012, the recoverable part has dropped to 600 million bbls. The risk here, I guess, is CRC being able to unlock the complicated geology and access the oil equivs. Probably worth the risk at $6.00 a share. M* feels the FVE per share is $21 a share.
Shale or tight formation oil represents less than 5% of the daily supply. SA is going after Iran, Venezula, Russia, and other high cost producers. The people getting hurt the most are the large suppliers not the tight formation guys. SA can stop the hurt anytime they want.
elimination, some from too much debt. If you go back and listen to their earnings presentation you realize a big part of the near term future of the company is based on this Rosneft JV. If this does not come through the third of their fleet which is occupied will be sitting in dry dock. The stock at $12 is saying this deal will fall apart, if it doesn't fall apart, the stock could quickly bounce back to $18, just on the affirmation of this deal going forward. Would not add until sanctions are lifted.
$104 to $62, and downgrades it today to Neutral. Good going guys.
A common theme that runs through these message boards is the total absence of knowledge concerning the stock market and stocks in general. The SDRL is no different in this regard, but certainly is no worse than the other boards.
Jon is the one that made the worst call of 2012 and 2013, by saying on 12/27/2012 that for the first time he was completely out of stocks. He almost quit CNBC he was so embarrassed by the call.
This company is not even close to earning it's dividend. The dividend is a return of capital. I would rather have them cut the dividend by 50%, the stock would go up 2 or 3 bucks.
I day traded this one for a couple of nice watches, for me, and one for my wife.
everyone involved in the Lucas/StarWars deal has been fired, there are still a few around that remember this debacle. This is the same thing.
will move on to another target. WFM will move back to the $60's over the next 12 months, where it belongs. It goes without saying that anyone left short is toast. Serves 'em right.
fund is liquidating all holdings. Am sure this is one of the main reasons for this sell off.
holidays with Ca.,Tx., Penn., and NY. The original placement to Kansas was because they did not have to collect local taxes, now there is no need for this.