Dealerships here in NE. Everyone is going diesel as the new technology diesels have really boosted efficiency and have solid power. NG still alive, but pushed out several more years. Oil tanking is also hurting the NG story.
Unless sales get back in gear. But reports I'm hearing show further sale deterioration. I really now question whether this company can survive. Maybe a buyout for $10 is the best you can hope for.
The street has manipulated the drillers down to liquidation levels. I would expect to see some of the more cash rich players gobbling up others. Or see China step in and buy some of these companies outright.
Good point. But fracking is even more costly than off shore. Already at current oil price fracking is almost a zero profit venture. This could get really interesting if the frackers and drillers both shut off the spigots.
Fracking approaching red zone at this price. How long will they frack oil at a loss?? And with no new off shore contracts.......where's the oil going to come from?
Entire sector is getting murdered. PGN is being priced for bankruptcy. Could be the first company to go from spinoff to bankruptcy in 100 days. There simply is NO NEW BUSINESS in the entire sector. Look at NE pathetic fleet report. One 2 month extension for 46% less than the prior day rate. Several driller are about to go bankrupt unless the madness changes and soon.
Only shows a 2 month extension on 1 rig at.....get this....46% BELOW PRIOR DAY RATE. No wonder the drillers are getting murdered. Several players in this sector are going to die; who will survive?
not to keep beating a dead horse, but has anyone ever seen a stock/company that has a market cap less than their annual net profit?? Any other examples? I can't ever remember seeing such an event.
50 cent yield now at a shocking 10%. Street dismissing divi, revenue and liquidation value. Stock is basically priced BELOW WHAT THEY COULD LIQUIDATE THE COMPANY FOR. Think about that.
Generally of course you would be correct. But the magnitude of this destruction is telling you something much more serious is unfolding here. Watch