If oil falls to 20 then we will have much bigger problems than the energy sector. Trillion dollars defaults. Banks collapse. Global depression. War.
Not manipulation. I used to think so too. But now it's plain to see the street is betting LINE (and almost every energy company) will NOT survive. LINE current distribution, just laid out weeks ago, is already in trouble of being eliminated, as it was based on $60 oil and 3.50 NG. Doom.
I suppose you'd be happy with another Obama type potus? Let's further alienate our long time allies and coddle the terrorist nations? Or drive the middle class into poverty to further an ideology of providing for illegals and lazy pieces of $&@"? Or amassing a record amount of scandals built on lies and deception? Yeah let's have 4 or 8 more years of that.....
If I end up bankrupt no big deal; tis the American way. But if LINE goes belly up then ALL big producers will go under, and the entire country will be in flames at that point, so who cares?
If you're such an expert then you'd know LINE can't eliminate the distribution without losing their tax status as an MLP. They can reduce the distribution to match decreased revenue though, and it would seem likely this may occur down the road if oil stays at current levels. Yes, they have alot of debt but who doesn't? Your 80% calculation is far more rubbish than the original poster's comments. You clearly don't understand the company and are just another blow hard
no. You clearly haven't been paying attention. Of course there's a need. But the Saudi's intend to wipe out US production and regain control over pricing. That's what is going on here.
Santorini amazing! Dining tonight on fresh lobster tails with shrimp salad and print filet! Dom Perignon 1957! I am so grateful to have such blindly loyal shareholders! Tomorrow we set sail for Cypress and look forward to acquiring some ancient artifacts of pure gold! I will have HQ announce an additional secondary soon as funds are getting a tad depleted. Bless you all!
I would love to agree, but I'm sure they are just as sucker-punched as everyone that oil has continued to die since their announcement. The new coverage was based on $60 oil and $3.50 NG; both are a long way from their current price. If things don't turn around and soon, then they will be forced to come forward again and either cut or outright suspend. The literal survival of the company is in play now.....along with all their competitors.
Having a grand time out here enjoying leisure and luxury. Can't thank the shareholders enough for their sacrifices. Tonight we dine on champagne and caviar. Later we travel to Santorini. Fear not; mayhap another massive secondary will keep me swathed in riches a few years longer! Bless you all!
The main seam of oil in Ghawar is now estimated to be 30 feet versus 200 feet in 1960. Satellite imagery tells the story and anyone can view it if they care to. Saudi fields have 10-20 years left MAX.
And 2009 all over again and no cut was implemented then? Suckerpunched big time.
After reading about their debt situation and the failure to integrate BRY as an accretive acquisition, it now appears clearer why the street has given up on this company. Management has made critical errors and it is now becoming more visible. Distribution will be cut by over 50% and even then they may not survive with such a choking amount of debt. Lost my life savings here. Sucks
Obviously something horrible has happened that hadn't been announced. Bankruptcy risk now at 50% per the bonds. Management has done a god awful terrible job here.
$1 coming right around the corner.
Worse; the kids will be the ultimate victims. For the FDA to still be stalling on this drug is downright criminal. Then again, so is just about everything in our government these last 6 years. I only have a tiny position; not a big deal at all. I'm just disgusted with this country and in particular the mafia FDA.
It has reached the tipping point. Our potus couldn't have made more wrong decisions if he had tried. The level of blind and ignorant incompetence would be hysterical if it hadn't destroyed our once proud country.
Doesn't matter at this point. These are both at severe risk of bankruptcy unless they start unloading some debt and soon. These guys got caught with their pants down on the hedges and are now fighting for their lives. While taking millions in pay of course.....
What is the deal with that? I guess the market feels the collapse of oil will go far beyond the timeline of their hedges? But are they also saying the ng portion of the company will also collapse? It just doesn't jive.