Seems like that could be taken as a vote of confidence?
Addition to the Russell 2000 is a positive, don't you think?
Agree with your comment, but would substitute the word 'summer' with the two words 'your life'!
Bet they are still selling shares ATM. What makes anyone think they aren't still dumping shares in the open market?
I'd settle for a measly $100.00 even!
And wouldn't even whine about it! Nope, I'm not so greedy!
What it looks like, those shares are still registered. Market thinks they will do it and just threw a curve saying they decided not to do it at this time.
I believe those HC2 Holdings shares are going to hold this stock down for a while. JMHO.
Rig count may 27 ----After more than six months of shedding rigs and jobs, the oil patch could be showing signs of recovery, according to two reports released Friday.
The country’s drilling companies mothballed three rigs last week, marking the 24th consecutive decline, but the slowest drop since Dec. 12. In Oklahoma, the rig count increased by one for the second straight week, Baker Hughes reported Friday.
Some industry observers see the increases and slower declines as indication that the industry is recovering.
“We believe that should West Texas Intermediate crude oil prices remain near $60 (per barrel), U.S. producers will ramp up activity given improved returns with costs down by at least 20 percent,” Goldman Sachs analysts Damien Courvalin and Raquel Ohana said in a report released Friday. “Last week’s rig count is a first sign of this response and suggests that producers are increasingly comfortable at the current costs/revenue/funding mix.”
Nationwide, 885 rigs are now searching for oil and natural gas. The count is down 54 percent from 1,929 on Nov. 1. The U.S. count peaked at 4,530 in 1981 and bottomed at 488 in 1999.
State has 104 rigs
In Oklahoma, 104 rigs are active, down 51 percent from 214 on Nov. 26
May 31, 2015 The Telegraph. "Opec under siege as Isil threatens world's oil lifeline"
ISIL just torched a major Iraqi refinery, Saudis getting nervous & increasing security at their facilities. Goldman Sachs & other investment houses not pricing fear factor into oil prices, why not? Are they oblivious to what's going on in the Middle East or do they know something we don't? Saudis still committed to keeping prices low, maybe as a way to slow down oil profits flowing to Iran / ISIL. The rest of OPEC wants -- and needs -- $100 oil.
May 30, 2015: BAJII OIL REFINERY ON FIRE IN IRAQ
May 29, 2015: The total rig count [in U.S. oil fields] now stands at 646, its lowest level since August 2010, Reuters added.
May 23, 2015: ISIS attacks #$%$ mosque inside Saudi Arabia
"The Islamic State group claimed responsibility for a suicide bombing at a #$%$ mosque in Saudi Arabia, warning that more "black days" loom ahead in a direct challenge to the rulers of the Sunni kingdom."
May 29, 2015: WTI 60.30 +2.62 +4.54%
65.56 +2.98 +4.76%
We may be on the cusp of a huge spike in the price of oil. And, the outlook for oil producing companies could change dramatically in the near term.