Both eca and pwe have announced assets sales who got the better price for there asset (1ST) ECA SALE. Canada Pension Plan Investment Board (CPPIB) and The Broe Group said Thursday they have agreed to purchase oil & gas assets from Encana Corp. ECA, +6.44% for a value of about $900 million. CPPIB will own 95% of the assets, while The Broe Group will own 5%, the companies said in a statement. The deal is expected to close in the fourth quarter. The assets are located in northeast Colorado and produced an average of 52 million cubic feet per day of natural gas and 14,800 barrels a day of crude oil and natural gas liquids in the first half.----------------NOW PWE ( 2ND) PWE SALE CALGARY, Oct 1, 2015 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("Penn West", "we", "us" or "our") is pleased to announce that it has entered into a definitive agreement for the sale of its non-operated 9.5% working interest in the Weyburn Unit in Southeast Saskatchewan for cash consideration of $205 million, subject to closing adjustments customary in transactions of this nature. We intend to use the proceeds from this disposition to reduce our senior debt. Upon the completion of the sale of our Weyburn Unit working interest, we will have raised approximately $810 million in total proceeds this year through our non-core asset disposition program.
David Dyck, Senior Vice President and Chief Financial Officer of Penn West, commented, "This disposition further demonstrates the continued success of our non-core asset disposition program. With this transaction, we have surpassed our $650 million non-core asset disposition target. We believe that our dispositions this year evidence the quality of our non-core asset base, our ongoing commitment to reduce our debt, and our ability to successfully execute meaningful transactions in a challenging commodity price environment. We will continue to pursue additional non-core asset divestitures in order to further reduce our leverage
Wrong if they where selling out dated chicken they would have to throw it in the tash an buy a new fresh supply from PPC. That means PPC just doubled there sales to YUM . You should cover that short before the news OUCH if your short
Roberts and other insider bought stock a lot higher in larger amounts. They want to come out as a winner if they can unless they take a golden golden parachute. They will want to turn the company around and stranger things have happen. I have seen where the shares just keep moving up day after day for months just like this stock went down day after day for a year. When institutional investors sell out and the little guy takes a shot. big winner can be born. When in the pass where your best pass buys done a the top? or when things looked there most bleak
The shorts have been awfully quiet the past few days. The huge volume and price above a dollar takes the risk of being delisted from NYSE off if it holds. What is your guess at todays closing price?? . Have the shorts covered yet ? The dow has given back most of it.s early morning gains it had as well as PWE .
I am down big time also I have some shares with a cost of $18 and change. I owned it when the div was over $3.00 a year. This stock went straight down for a hundred days it could be time for it to run the direction. You could buy a chunk and put a stop loss on it. If you can hold it over 30 days then sell higher cost shares and use it to off set capital gains. The capital gains write off is worth more then the cost of the shares at this point. If you think it going BK then I can see your not wanting to double down. But when you see the stock turning around and up 65% in two trading days on massive volume it looks to be worth a trade with a tight stop loss strategy. If this stock can hold these gains and has another strong up day we will be back trading over a BUCK. I also realize some hedge funds could be doing a pump and dump. How do some people like Buffet and Carl Icahn end up to be billionaires. I bet they take some long shots that pan out when there is real fear. They just don,t bet the farm
I had a big tax loss and took a shot at doubling down at $.60-- $.65 on friday. I figured it could have been a total loss but gave it a shot so as to be able do some tax loss selling at year end to offset capital gains I had locked in earlier in the beginning of the year. If PWE breaks through the dollar mark and can hold it a investor has a good chance to make a huge return with a little with a little patience. In less then First two hours of trading the stock has traded 4 million shares more then the 10 day average trading volume. good luck LONGS and FRY shorts
Good thinking with the protection. I will be interested to hear what they have to say on the web cast. Some times the shorts will not go away unless there a dividend or buy back. This sector has been almost as bad as oil stocks.
It seemed like this stock has only moved down day after day. Some shorts must be happy to cover here being up 20% in thirty days it been a nice pop for them. With earnings coming out they could lose there profit if they do not cover here. Be nice for longs if they announced a buy back and had good earnings on same day.
The company shares are dropping like a rock you are right. Almost anything to do with oil is down big in the pass 30 days. This company stock price has not falling as much in the past year as many pure oil and gas plays that are priced for bankruptcy . The big question is can they keep paying out cash distribution of $0.5384 per unit with the contracts they have in place and where will the share price be in a year or two from now. This stock was $6.22 in NOV 2008 and at $20 by DEC 2009. Life in the market is a gamble but the one thing I am sure about is that people are not about to park there cars and start walking to work anytime soon. So oil and the companies that move it will be around as long as I am going to be a round. Just have to try to time your buys or have the patience to wait for the sector to recover. If your ever going to make money in the market you going to have to take a shot at it and what better time then when a stock is on sale. I also can not see people leaving home without there internet & cell phones anytime soon. So I think at&t and verizon over the next ten years could be good for income. I am a big fan of interest compounding over time.
The management could just buy there own shares back with company funds in a private transaction if you read 10 k. Then at the next board meeting they give each other a boat load of stock options. welcome to the stock market.
I did not see it in the news any where but it is in a sec 10 k fliing dated 07/02/15 On July 2, 2015, the Board of Trustees of the Trust authorized a repurchase plan for the repurchase of up to an aggregate of 10.0
million common shares of beneficial interest, par value $0.0001 per share, classified as common shares, and operating partnership
units, inclusive of all outstanding prior authorizations. The repurchases may be made from time to time for cash in open market
transactions, including through Rule 10b5-1 plans, or in privately-negotiated transactions in accordance with applicable federal
securities laws. The timing and amount of the repurchases will be determined by the Trust’s management based on their evaluation
of market and business conditions, share price and other factors. The repurchase plan may be suspended or discontinued at any
SHARE Buy back sure not helping. This is very sick stock. The yield at close was 8% and it sure not greece. Do you think it just interest rate worries. If I read back a few years at the pass deals they got them done at higher rates and should have refinanced many of them by now. New deals could be priced by the cost of funds. A recession would be a different story. If they have cash flow to support this 8% dividend where is the support from the yield. This stock is down 22% in the pass 5 months. Between reits and oils I am having a bad year. I am going to have to tell my wife she needs a second job.( sure like she would give me a penny she makes LOL .