All are debt heavy. HK mostly oil. SD and SFY better oil / natgas mix. HK and SD much better hedges than SFY.
Went with SD @ $1.31, very small position, about 1.5% of my portfolio. Very risky all of them.
Just looked through the most recent SEC 10-Q filing. Saw it mentioned several different places. Should also add that the hedges are on a (undefined) portion of production. No percentage stated.
Will declare soon. A year ago the declaration came on Thursday, Jan. 30th, after the close.
Kel..........just watching....may buy.
Why are you recycling old news that is no longer relevant? How dumb do you think people are? Only the truly most delusional SFY holders are clinging to your scraps of old news.
From the Q 3 earnings report SEC filing.......
Credit Facility has $89.5 million outstanding. Maturity date is May 7, 2019 and the interest rate is 1.4%, yes, that's 1.4%.
Senior Notes of $250 million are due in the year 2021 (6 years from now). Annual interest costs are $17.5 million for an interest rate of 7%.
Actually they'll be "free" cash flow positive by the 4th quarter of 2015. That's when they expect cash flow will exceed capex expenditures. I believe they are now and will continue to generate positive cash flow.
Their debt level is very conservative compared to other drillers (like SD, SFY, HK, MHR, and many others). These guys know how to run an E&P company.
How about this stat.......last 2 years....
UGAZ goes long Natgas X 3......down 79%
DGAZ goes short Natgas X 3....................down 64%
Play these long term and.......... "heads you lose, tails you lose."
Last lows (prior to recent) were in early Nov. 2013...........
UNG (natgas long X 1) down 12.29% since then
UGAZ..(natgas long X 3) down 67.34% since then.
Decay is killing this ETN. According to UNG movement, UGAZ should be down around 37%, not 67%.
I bought some COP @ 62.50 and it ran quickly up to around $70+. Has since backed down some. Will continue to hold for a nice yield.
Weather warming up. About +18 F right now in Green Bay. High Sunday in the low 20s for the big game w/ Noon kickoff. Seattle looked really tough tonight.
Guess I won't be playing natgas at all this week as we'll see the low 30s by next weekend.
Ron...........was thinking of Ron Stander....aka the Council Bluffs Butcher. Good writeup on Wikipedia.
But, with many drillers reducing CAPEX, won't here be less oil / NG going thru the system at some future point in time? Even 5% less will affect the pipeline companies to some degree.
Kel............a KMI holder
Chuck.....I agree with your last sentence.
Who was that that beat the #$%$ out of you back in the 1970s? I vaguely recall something about the Council Bluff's bruiser (or something) and a lot of blood in the ring.
Beware of some very old cash flow and CAPEX numbers being mentioned here. We all know things have changed significantly in the last few months. Really, old numbers are out the window for almost all drillers. Property valuations and cash flow projections across the industry are crumbling. In most cases the one thing that is unchanged is DEBT levels.
That $6 per share (about $250 million) was before prices of oil and natgas fell. Current run rate is probably in the $3.00 area, perhaps much less. Don't forget that DEBT is about $25.00 per share..($1.1 billion divided by 44 million).
Packers are playing Dallas on Sunday @ Noon Central time. Carolina is @ Seattle, not sure of time. Doubled my position in AREX today. AREX will be a survivor, not so sure about Swifty.
Had 15,000 at one point, now have 3000 left. Sold quite a lot in the .30 - .40 range. Have lost quite a bit of confidence (and $$) in this situation, probably influenced by the lack of communication from the company. Will just hold what I have now (less than $1000 now) and see how things progress. Good luck all longs.
By the way, the funds from today's sale went into AREX (Approach Resources), a good quality but smaller oil and natgas driller.
Spent a good part of the day looking for a better value in a company that I KNOW will survive. Couldn't find anything I liked better than AREX.
Strange action today in AREX. Refused to go down and close negative. Finally gave up on finding something better and just added to my position here.
For those that wonder if AREX will survive this downturn. Go back and read the Dec. 16 press release about 2015 CAPEX plans. They also discuss how they dealt with the crash (much worse than this one by the way) in oil and natgas prices that took place in 2008. They know what they are doing.
Have a good weekend all AREX longs.....................Kel
Oil is very near a bottom in my opinion. Bottom may be defined by a military / political event that's unforeseen. Could happen at anytime. Just imagine if some terrorists attacked Saudi Arabia's oil fields or pipelines. Oil would whoosh up several $$ very quickly. Just saying.....it could happen. Some desperate countries out there.