Reminds me of Nama shutting down that conservative oriented guitar maker on alleged import infractions that were never proven.
Rig counts are irrelevant. They're a stock trader's event. Listen to the conference calls and pay attention to capex plans.
Rig counts are irrelevant at this point. What is important is we have the luxury of hearing capex plans for the year. Trying to predict the price of oil based on rig counts is silly.
StreetInsider published it, Bloomberg picked it up. I do not have a StreetInsider subscription so could not see beyond what Bloomberg posted.
Whiting Petroleum (NYSE: WLL) is exploring the sale of assets in North Dakota, according to Bloomberg sources. The assets include two gas processing plants and related assets in Williston Basin, which could fetch $500-$700 million.
Any thoughts on this?
That makes no sense. WLL cannot take on more debt. And if they did want to do a stock swap they would do it at today's stock price, not $7.
They. Are better off spending cash on acquisitions with Blackrock than in increasing the distribution.
WLL doesn't have the balance sheet for acquisitions, especially cash acquisitions that you suggest. It does however have the assets to be acquired.