I hope you're right. Shale cannot operate at that price, and the drillers barely so, and it will drive production to severe shortfalls that will only slingshot the prices higher. Same old cycle.
I am chomping at the bit to buy more but I'm way over loaded on this thing already. And thr industry id just getting destroyed now. Someone said we need consolidation in the industry; I couldn't agree more. Some of the over extended players need to bankrupt or get bought up and shrink the number of available rigs. Then when people start crying for more oil the tide will turn fast and vicious.
I have to agree. Management is absolutely negligent to the shareholders for not even trying to stem this nonsense. And buying back shares at less than half book and well below Tangible Book is beyond insane.
Not yet though. Hang on for a few more points down then start buying. The mafioso street isn't done slitting throats yet. Soon though. Will be a tremendous return once the big boys decide to turn the tide....same with day rates. Thank goodness we don't need off shore drilling any more. Smirk.
Yes. After the wall street mafia drains all the blood then they will magically announce that there is an oil supplyshortage and....well you can guess.
The shale stuff is not nearly at high grade as the deepwater oil. Plus the output of the Bakken can't replace deep water. Seriously!
and the real kicker; just a tad over NET PROFIT. Has anyone ever seen anything like this before? Hard to believe.
must you play the "let's go to extreme's" card? Good grief. But don't mistake what is unfolding. Oil could drop significantly before it snaps back ala 2008/2009. Get out of the way of the fraudsters....err I mean Wall Street big boys and pick up the pieces after they are done slitting throats.
Noble is a good indicator and the catalyst for this week's further tank of the industry. Bottom is on the horizon, but we're not there quite yet.
and a new 52 week low was hit. Yet there are STILL longs posting "Huge business on the horizon" and "higher than expected Demand". Unbelievable! You guys really have to see a shrink!
Look, I realize management for a publicly traded company can't answer the bell every time a stock has steep downward movement, but for a company stock to implode over 50% in less than 2 months after it's debut without coming forward and addressing shareholder concerns is an out and out breach of fiduciary responsibility. Disgraceful.
Its trading down because top line growth has stalled. And in the league of high growth expectations that is akin to being taken out to the woodshed for a major league beat down. The inability of you guys to see reality is disturbing.
Seriously? Do you think that cash flow won't drop hard as the day rates continue to implode? Do you even onow what transpired last week with day rates? See Noble then. Day rates are crashing hard, and the ability topay a dividend will evaporate. Good lord man wake up.
Almost all the longs here seem like a decent bunch; good folks. But almost all haven't learned the old adage of "don't get married to a stock". Which smacks of novice investors. Even if you believe in the company, you have to have the investment smarts to know when to bail.
Based on the recent pattern of slugging earnings and top line growth, coupled with the complete and utter lack of any news from the company at all recently, it is clear another extremely weak report is forthcoming. This will be the catalyst to send the shares into the single digits. And trigger a new offering of shares to keep Demers salary flowing.