Never seen anything quite like this. a bunch of nobody's (for the most part) sitting around relishing in the fact hk is going down. It is pretty sad, really. I know most of you, especially the one's talking the most smack..don't even own the stock, and are not even short the stock.
I suppose however, this is your life. Go ahead and beat your chests. HK is going out of business. Floyd should do this, Floyd should do that. He's running a company...and shouldn't answer bogus articles by people who clearly have an agenda. Bloomberg is a lib publication and anti-shale. FACT.
Some other facts are the last two earnings reports have been stellar. Those who make money here will be the ones willing to block out the short term nonsense, manipulation and stock fluctuations.
We are not a one basin company. Halcón has three core plays - two are in development mode (the Bakken and El Halcón) and one (TMS) is still in the delineation phase. We have ample drilling inventory in our two development plays (~800 gross locations in the Bakken & ~800-1000 locations in El Halcón) and view success in the TMS as upside. As Floyd has mentioned on past earnings calls, almost all our 2014 and 2015 production growth has/will come from the Bakken and El Halcón, and we expect very little contribution from the TMS. Additionally, the great results in Bakken and El Halcón were also reflected in our recent borrowing base increase of $350MM. The large increase was solely driven by drilling results in the Bakken and El Halcón, no contribution from TMS. Having said that, the industry as a whole is making progress in the TMS. It feels like the recent pressure on oil prices is magnifying the challenges in the TMS due to the fact that it is a considered a high cost play. Keep in mind that we are still in the early innings in the TMS and costs are expected to come down over time.
We are currently running two rigs in the TMS. Company policy is not to comment on rumors. Per our normal course of business, we will issue a complete ops update in conjunction with earnings on 11/10. We are in the middle of our 2015 budgeting process right now, so any rumors floating around about how many rigs we plan to run in any play are simply premature.
Note that we are significantly hedged for the remainder of this year and all of 2015 with a floor of close to $90/bbl oil, so we expect to be able to execute on our drilling program and grow production and reserves.
As for your questions on the Bloomberg article, it is important to consider the source while reading this article. This reporter is known to write negative articles on the oil industry, and the article is part of a larger anti-shale editorial position Bloomberg has expressed recently.
No, I'm not kidding. Lets say you made your own money for arguments sake. You're an arrogant kid who is definitely going to face major adversity in his life at some point. We shall see then what you're made of. Puppy dog tails? Oh, I forgot. You bought Apple and DSW. Meanwhile, on the first go-round with HK when you were down big, you cried and complained like a 21 year old. You were petrified. While you think you know everything, you don't. To get on here and rub other investors faces in this decline shows you're just a punk. Of course, all of this is over the internet, which gives you a license to talk smack.
Take a hike.
I agree with Tucker, this drop has been frightening. I have started to wonder if there is something wrong with HK we're not aware of?
As luck would have it, I ran into a friend of mine today who is in the energy business. His company owns 300,000 acres in the Barnett Shale. He had originally given me the tip on HK, and owns a large position himself. He has 25 years in the energy business. I asked him point blank..."are we in big trouble." He said regarding Halcon, it could go lower, but long term he feels Floyd will get the company where it needs to go. There could be more downside to oil, maybe down to $80.00, but oil will rebound in a big way. The combo of the rising US dollar against the fecal-matter currency of the rest of the world, and analyst telling people to abandon energy stocks will create a big buying opportunity. HK could go lower, but they are executing...and he knows Floyd personally. If you have the resources, buying when there is blood in the streets is a good bet which could pay-off in a big way.
My final comments...also from a friend of mine who is a broker. "The market is dirty. it destroys and humbles people.Sometimes it doesn't matter if you own a good company with great management. The market has a mind of it's own and the big boys are waiting for the small fish to bail out, so they can make their money."
It takes time..as this progresses, Floyd will figure out the best, most effective cost-efficient way to capitalize on this play.
It's what he does.
Moron....maybe he's not a "trader." I've owned plenty of stocks where they've gone down, and then wound up being huge winners. Every stock is different, and the market is manipulated, which should be a BREAKING NEWS FLASH FOR YOU?
Why don't you mind your business? Here's some reality...anyone worth their salt wouldn't be on here second-guessing what others are doing. Don't give us this nonsense about you're trying to help other board members, because it is a lie. In fact, you're a lie.
"Explain to the board how it feels to wake up every morning realizing what a terrible mistake you made." I have no doubt your wife feels the same way.
I for one, am not fooled by your retoric. You've been on here for months trying to make yourself look better than everyone else...forget it...go cut the grass.
Spoke to head of IR last night. seemed very confident. They are 30% oil, 15% LNG and the rest NG. All hedged. Of course, if oil stays down...for any lengthy period of time...all bets are off.
The TMS is not what HK is built on....it is their core positions, on which they are executing. The TMS will be gravy, nothing more. Everyone is scared...I get it. My portfolio is massacred.
That's the way it goes.
I'm not selling.
I agree with your post. There are many negatives surrounding oil and gas stocks at the moment. Waiting for the "uptrend" makes good sense.
Yes...just for comparison purposes. I'm down allot of money...but, I can deal with it. I got myself into this predicament. The day I see something with Halcon which doesn't jive, I'm out.
I do believe they are executing...we're in the wrong place at the wrong time.