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Spectrum Pharmaceuticals, Inc. Message Board

redoak8585 3 posts  |  Last Activity: Mar 1, 2015 11:42 AM Member since: Mar 25, 2013
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  • Reply to

    Long MPO now

    by boss_shorty Feb 27, 2015 8:37 AM
    redoak8585 redoak8585 Mar 1, 2015 11:42 AM Flag

    what is your sell price?

    Sentiment: Buy

  • redoak8585 redoak8585 Dec 28, 2014 7:03 PM Flag

    arm, can you explain the shares lance peterson owns. it seems he owns 3,493,334 directly however when you check insider holders, it shows him owning 10,160,001. i realize that part of that total is the $40M paid for citrus (6,666,667 shares @ $6) which in form 4 shows him as indirect owner of those shares.

    Sentiment: Buy

  • Tobey Diller - BMO Capital Markets

    Okay, great. And could you maybe put a little more specifics on the hedging strategy for 2015?
    Philip Epstein - Chairman and CEO

    Yes. We have, as a Company, sought to hedge 50% of our production on a 12-month going-forward basis. Right now, we don't have much in terms of hedges for 2015, except for 3 million a day of gas. When we look at – so, we will be looking for opportunities to hedge our oil and our gas in the coming months.

    We don't – since we do our CapEx planning based upon what we consider to be reasonable commodity price assumptions – we may have to revisit them – but $85 realized oil prices over the longer-term of the asset, and $4 gas, we are comfortable to be drilling the wells, but we can moderate of course our drilling schedule.

    So, specifically, we like to opportunistically hedge as we get into 2015, and I expect we will. The more complex problem of hedging is in the Marcellus, because hedging NYMEX doesn't translate into an effective hedge. What you've got to hedge is against realized prices. And to the extent that we have baked into our cash flows the P&G contract which will expire in June, but is at NYMEX plus, that's in itself a basis differential hedge.

    We're doing a lot of work in terms of the pipeline buildouts and of understanding the market. We have some very good help from third-party consulting firms, such as BENTEK, to describe where the growth in the Marcellus supply is, and where the demand is arising.

    So, for the near-term, we're cognizant of the basis differentials, and we're going to work hard to try to put something in place.

    Sentiment: Hold

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