don't talk about spending and leave wars out you #$%$, The Walker camp is looking for braindead HAWKS that can flunk school and kill the American dream. Unions work clown.....
until the 150% move with PSTR REN was my favorite also. The hedges are in place for PSTR . REN is in a good spot going foreword.... Good hedges in place. In the conference call, Sutton said, “We have stress tested our project economics, and even at $70 per barrel, these projects warrant continued investment.” The company has hedged 6.6 MBOEPD (about 45% of the Q3’14 exit rate) for 2015 at an average strike price of $87/barrel.
I HAVE LRE and REN..... Capital One Securities set a price target of $6.50 and Wells Fargo Securities affirmed its “Buy” rating on Resolute. Wells Fargo also placed an “Outperform” tag on REN, defined by the group as “The stock appears attractively valued, and we believe the stock’s total return will exceed that of the market over the next 12 months.” REN is hedged like PSTR and guaranteed
- About the Company
PostRock Energy Corporation is engaged in the acquisition, exploration, development, production and gathering of crude oil and natural gas. Its primary production activity is focused in the Cherokee Basin, a 15-county region in southeast Kansas and northeast Oklahoma, and in Central Oklahoma. The Company owns and operates over 3,000 wells and maintains nearly 2,200 miles of gas gathering lines primarily in the Cherokee Basin.
For 2015, approximately 73% and 28%, respectively, of the Company's anticipated natural gas and oil production is hedged at $4.01 per Mmbtu and $92.73 per Bbl. Hedges are in place through the end of 2016. Summary
• 2014 production, at the realized 21:1 gas-to-oil economic equivalency, increased over 2% from the prior-year.
• Oil production rose to 754 barrels per day, up 43% from the prior-year. December 2014 oil production averaged 929 BOPD. Gas production declined 9% to just over 36.2 MMcf per day.
• Revenue increased over 15% from the prior-year.
• Total operating expenses, including lease operating, gathering and G&A, decreased approximately $1.3 million from the prior year.
• Bank debt decreased nearly 10% to $83 million during the year.
• Cost reduction initiatives being implemented in 2015 are expected to further reduce operating costs by nearly $4.0 million annually.
• On a preliminary basis the 2015 capital budget is set at $5.5 million, a reduction of over 80% from the prior year. This level of expenditures may be increased, depending on oil and gas prices.
In response to the recent collapse of oil and natural gas prices, the Company reduced its Oklahoma City headquarters staff by nearly 25% from 2014 levels. This will result in annualized savings of approximately $2.2 million. Additional cost reductions are being implemented which should further reduce general and administrative and field operating expenses throughout the remainder of the year. In total, once plans are fully implemented, we expect to reduce ongoing operating costs by nearly $4.0 million annually.
On a preliminary basis, PostRock is setting its 2015 capital budget at $5.5 million, more than an 80% reduction from 2014. The plan includes maintenance capital and completion of development projects under way at year-end 2014. At current prices, we do not plan any drilling in 2015; however, this could change, depending on oil and gas prices. Excess operating cash flow will be used to reduce outstanding debt.
Gas and oil hedges are in place through 2016. These hedges include 9.0 Bcf, or 24.6 MMcf per day, of natural gas hedged at $4.01 per MMbtu and 71,500 barrels, or 195 barrels per day, of oil hedged at $92.73 per barrel. Assuming no new drilling, this represents approximately 73% and 28%, respectively, of expected gas and oil production forecasted in 2015. Additionally, in 2016, 21.4 MMcf per day and 180 barrels per day are hedged at $4.01 per MMbtu and $90.33 per barrel.
During 2014, the Company performed 13 recompletions and drilled four Hunton horizontal wells. In addition, we participated in drilling two Woodford horizontal wells in a joint venture with Silver Creek Oil & Gas, LLC, operator of the JV. Oil production in 2014 increased 43% to just over 275,000 net barrels of oil, an average of 754 barrels per day. Gas production totaled 13.2 net Bcf, a 9% decrease from the prior year, which is slightly less than historic annual decline rates of 12-13%. At the realized gas-to-oil equivalency of 21:1, production increased 2% from the prior year.
Two of the Hunton horizontal wells were placed on production in the fourth quarter and reached peak production of 330 BOPD and 275 BOPD, respectively, before year-end. The gross cost for the wells was $6.6 million. Combined, the four Hunton wells drilled during the year cost $13.4 million and have produced just shy of 100,000 gross barrels of oil.
They have cut their losses the last three years in half each year to have net tangable asset last year with a book value of almost three dollars. How much do you know? Your loss today must be huge. They run plosive margin, production and operational. Are you talking about the same company shorty
The stocks are moving today. The money flow back had started. Anything is possible. PSTR is up 40% and still way over sold. The panic covering and panic buying had started
.... They are still giving these away. Arex eox axas pstr all look good
Historic lows, gas margins best in years, Arabs charging china ore for gas, new information on storage lessoning for the first time, money flow into sector, technicals point up, higher lows, assets/PPS look cheap. Hedges guarrenty tell market returns, over sold, over shorted, volume increasing and gains, cycle always rebound, shorts time to run
20 per cents is not that much down here once the markets make up their mind these companies have a future. They are down 90 per cent....it should be doubling with inventory and great gas margins
The price per barrel just went up as of yesterday. Could explain some of the sector rally. That and gas margins best in refiners recent past...oversold and over shorted conditions look like a hood entry. Money glow into the sector could be a start as technicals are improving . break outs could be developing. Higher lows look good withosy these stocks. Hedges will support these tell the markets return. Any distruptiom to straits, chanells, pipelines, refineries could be a windfall
Yes, war,gas great margins,hedges,trend,breakout,cyclecycle, industry good news, capXdown, oversold, over shorted, timing, money flow in, assets to PPS look good, hedge money will last tell market returns
What is a month when hedged and technicals pointing much higher..... I have watchedany people pattern trade this in short swings. The direction in the long run is up.
1) positive press finally 2) stair steps up for 4 days 3) gas production margins 4) capX falling 5) higher lows 6) VOLUME Thursday, down 95% % 6) Saudi Arabia raising oil prices to China 7) cycle always booms back up 8) 5 countries at war in mid east 9) strategic oil pipelines ,refineries, straits at risk 10) over sold -over shorted- PICK YOUR BOTTOM FOR THE FUTURE.................