They both received a double digit pay raise this year for putting the company in this position ! They should have hedged with all those capital expenditures coming online in '15 and '16 The BOD is inept and there is a huge disconnect between performance and pay. The CFO and CEO should resign. Unfortunately, the Board will continue to reward their stupidity with more perqs and benefits to the detriment of share/bag/holders.
Until new supply abates, the stock price will continue downward. I wanna like SWN, but not until it bottoms which is a process NOT an event.
Good points. The world was not ready for $30 oil in $86 and natural gas is in a place where nobody is making money and yet storage continues to grow ! On a major point, I agree the middle east fighting will spread. Interestingly enough, no one targets oil assets in Iraq, or Libya which begs big questions as to why. Another old fart :)
Expect major repercussions, just like 1986. I have lost a little, but thank god I wised up to the reality that there will be no resolution to the glut until E & P drilling grinds to a near holt. Lots more pain ahead, before capitulation. $30 WTI should and will idle most rigs.
CFO, Yarrington should be fired ! Poor expense management and no hedging.