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Freeport-McMoRan Inc. Message Board

hardwoodjoe 13 posts  |  Last Activity: Apr 13, 2015 2:28 PM Member since: Oct 31, 2005
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  • hardwoodjoe hardwoodjoe Apr 13, 2015 2:28 PM Flag

    Im not sure but I think you are responding to a child on the computer...

  • Reply to

    LPI basically closed @ Mondays open price?

    by julson73 Apr 8, 2015 8:05 PM
    hardwoodjoe hardwoodjoe Apr 10, 2015 12:05 PM Flag

    XOM to buy APA...that's is what is going around in the patch...that's is what apa drillers are putting out...

  • Reply to

    LPI basically closed @ Mondays open price?

    by julson73 Apr 8, 2015 8:05 PM
    hardwoodjoe hardwoodjoe Apr 9, 2015 8:56 PM Flag

    hey julson....there is talk stirring up at the scandal rag....friend of mine that for contracts for apa says XOM is looking at buying true it is could be a gamble....I know you like to hear possible deals so there it is...Im going to dabble 1k shares in hopes that it is......

  • Reply to

    Any possibility a bigger co buys out LPI

    by julson73 Mar 13, 2015 4:48 PM
    hardwoodjoe hardwoodjoe Mar 21, 2015 9:54 PM Flag

    I don't know anything about BBG or PVA , never looked at those stocks...I try to stay with stocks that I have dealt contracts with...EOG,APA,APC,DVN,LPI,PTEN,OXY,just to name a few others...SN was a sand silica contract with providing sand in Eagleford back in late Nov...
    On LPI and a buyout IDK...I do know what came out of the consultants mouth last NOV..was that OXY was looking at the acreage in the Permian but that was in November and the consultant is longer on contract with LPI. I don't really know if the rumour was legit or if was just being passed around the around drill pads are just as bad as the scandal rags in barber shops so with that in mind I wouldn't bet on it....
    Im not saying it isn't a suitable candidate I was thinking more like APA since their leases are adjacent to each other ....

  • Reply to

    Any possibility a bigger co buys out LPI

    by julson73 Mar 13, 2015 4:48 PM
    hardwoodjoe hardwoodjoe Mar 21, 2015 8:52 PM Flag

    I see and hope that it stays afloat at present levels....I covered SN and then sold it all before the EOD Friday...the bounce in WTI seems to be a dollar inverse move...I did like SN last June at 90 bbl oil but that has changed as well as the PE ratio...If oil continues in low ranges of 40.00 I don't think they will be as profitable...the debt they incurred when buying from Shell bothers me a bit...I know there is argument from SN holders on their message board but In cant see them profitable with low oil for a sustained amount of time...the cutbacks from eagleford have begun and if SN cutbacks so does the flow of money....I think eventually SN could continue to cannibalize itself out of production..This could change if price move upward but for now Im a daytrader on SN.
    LPI management brought in more shares and at first seemed like a dilution it whatever you like but there is more shares. There is argument on this board of what its called ,I call it paying down debt which I think is a decent move. The whipsaw in this stock has subsided for now ....could it be because of managements decision to take this action IDK...The fundamentals of this company seem to be excellent as a long term hold...the acreage in the Permian I like ...vertical drilling is cheaper than horizontals...LPI can drill verticals just to maintain lease obligations...the logistics of having service companies readily a light switch notice is an advantage.
    I don't know whats in store for LPI next week but if oil retracts to low 40 then I see a slight pullback maybe not a whipsaw but some pullback ....
    The price of SN is now lower than LPI or at parity.. if you want to compare charts...last month it was about 2.00 higher so I don't know whats going on there...SN could be trending lower next week ..who knows...

  • Reply to

    Any possibility a bigger co buys out LPI

    by julson73 Mar 13, 2015 4:48 PM
    hardwoodjoe hardwoodjoe Mar 21, 2015 2:29 PM Flag

    Overall, U.S. oil production is set to increase slightly from March to April to 5.6 million barrels a day in six major fields, according to the EIA.

    But output is falling in the Eagle Ford Shale in South Texas, North Dakota’s Bakken Shale and the Niobrara Shale in Colorado, Wyoming, Nebraska and Kansas.

    In those three fields, net production is expected to drop by a combined 24,000 barrels a day.

    The losses were masked by production gains in the Permian Basin in West Texas and other regions.

    Efficiency improvements are still emerging in the Permian, faster than in other oil fields because the region was largely a vertical-drilling zone as recently as December 2013, the EIA said.

    Net crude output in the Bakken is expected to decline by 8,000 barrels a day from March to April. In the Eagle Ford, it’s slated to fall by 10,000 barrels a day. And in the Niobrara, production will dip by roughly 5,000 barrels a day.

    But daily crude output jumped by 21,000 barrels in the Permian and by 3,000 barrels in the Utica Shale in Ohio and Pennsylvania.

  • Reply to

    March 13 calls had a lot of action

    by xdexletx Mar 11, 2015 4:18 PM
    hardwoodjoe hardwoodjoe Mar 13, 2015 1:07 PM Flag

    Julson I would stay away from RIG unless you are going to short it...aging fleet and the day rates are being slashed...Sdrl has a newer fleet but contracts are being canceled...IMO stay away from offshore unless oil recovers but don't bet the house anytime soon...
    Whiting is up for sale and have an office in Wink TX, been there many times the acreage in the Wink area is prime but the mistake they made was acquiring KOG which is Bakken...overpriced and logistics is what eroding profits Whiting is up for sale IMO before oil further collapses I thinking they are trying to command share buoyance ...I haven't heard of any takers but its early...
    as always do you DD when buying these stocks ...

  • hardwoodjoe hardwoodjoe Mar 13, 2015 12:47 PM Flag

    I believe in this company as I know a few of the employees in the bottom end and I was a contractor for LPI...I was contracting for LPI a total of 3 yrs and the upper Management seems to be knowledgeable in the Petroleum industry....They will drill in the most prolific areas given this environment which is the Garden City area in Glasscock Co.they are maintaining one drill rig because of lease obligations . though they have quite a bit of debt but I think they are working that issue out. Im currently long 2k shares and look at adding at cost averaging for a total of 3 -4 shares..
    I did hold SN and day tade it every now and then when oil rallies but as far owning it Im pretty skeptical of management...I think they will cannibalize themselves eventually if oil doesn't recover above 65 bbl...its a shame because they do have prime acreage but they overpaid Shell for it...I don't know much about the Eagleford but if its anything like The West ranch in the Ft Stockton area I would be scared to own it just look an SD price history since they bought that shale area.
    I would be more comfortable with LPI than SN ...but that's just my opinion ,,,and as always do your DD and read, read, read .

  • hardwoodjoe hardwoodjoe Mar 13, 2015 11:39 AM Flag

    Dumb move to cover...short to 12,00,,,,oil going to 30... moron Moffit still a nimrod ... will be in the 12 area in 1 month wait it out oil is bleeding and it isn't going to be a quick cure for draw downs....copper going down very low demand in emerging ...well everybody knows what happens to it when they raise interests rates 800 an ounce isn't far off....

  • hardwoodjoe hardwoodjoe Mar 2, 2015 11:02 AM Flag

    That's what you think.....I bought flooring and my willie fell off in 6 Im no longer called hardwoodie

  • Reply to

    Re entered my position this morning.

    by ferrarimercedesman Mar 2, 2015 10:05 AM
    hardwoodjoe hardwoodjoe Mar 2, 2015 10:58 AM Flag

    Buy LUV short LL

  • hardwoodjoe hardwoodjoe Feb 26, 2015 7:52 PM Flag

    10% swings ....its like going to vegas without waiting in an airport ...rig count comes out tomorrow watch for that could go either way....I know for a fact that its dropped ....but how much....and will it matter to WS...

  • Reply to

    any body have any ideas on earnings coming up?

    by julson73 Feb 26, 2015 6:31 PM
    hardwoodjoe hardwoodjoe Feb 26, 2015 7:48 PM Flag

    If youre in the money on some of those I would've cashed out at 15.90 but alittle late for that....wti is most headed to low 40s...rig count for baker hughes is going to drop do I know friends in the patch are getting laid off....its evident where I live....boom is over....if the market likes the drop off number we could get a relief rally ... I would sell into any rally.... this oil access could last a while...

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