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Devon Energy Corporation Message Board

stock_watch_900 16 posts  |  Last Activity: Dec 15, 2014 3:41 PM Member since: Apr 26, 2012
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  • Reply to

    DNR is cash flow negative at these prices

    by stock_watch_900 Dec 12, 2014 9:02 PM
    stock_watch_900 stock_watch_900 Dec 15, 2014 3:41 PM Flag

    Cost Per Barrel
    Lease operating expenses 23.82
    Production taxes 7.42
    Depletion, depreciation, and amortization 21.62
    General and administrative 5.68
    Total 58.54

  • Reply to

    DNR is cash flow negative at these prices

    by stock_watch_900 Dec 12, 2014 9:02 PM
    stock_watch_900 stock_watch_900 Dec 15, 2014 12:16 PM Flag

    Show me how they can afford their capex budget at $56 oil...........

  • Reply to

    John Frederiksen owns 23% of SDRL

    by pickovski Sep 14, 2014 10:35 AM
    stock_watch_900 stock_watch_900 Dec 13, 2014 5:56 PM Flag

    So at least you will have company in the homeless shelter!

  • Reply to

    I am calling the bottom here

    by oropan45 Sep 22, 2014 3:37 PM
    stock_watch_900 stock_watch_900 Dec 13, 2014 5:51 PM Flag

    a broken clock is right only twice per day....

  • stock_watch_900 stock_watch_900 Dec 13, 2014 5:49 PM Flag

    not this time.....history doesn't always repeat itself...

  • Seriously...a little late to the game...

    Research analysts at Citigroup Inc. cut their target price on shares of Oasis Petroleum (NYSE:OAS) from $52.00 to $16.00 in a report released on Monday.

  • DNR wont be able to afford the capex to keep the oil flowing. How will they pay off the debt? The stock would be at zero now, except people are betting on an oil price rebound. I wouldn't bet on it. Look at what happened to natural gas and coal.......

  • May be helping shares today, but the assumptions are too aggressive IMHO:

    Oasis Petroleum By Topeka Capital Markets

    We are reaffirming our Buy rating of Oasis Petroleum, but believe shares could be depressed until oil prices stabilize or improve. We are lowering our price target to $25 from $38 on our reduced 2015 and 2016 estimates.

    Oasis announced its preliminary 2015 total capital expenditure plans at $750 million to $850 million, of which $650 million to $750 million is for drilling and completion activity for annual production growth of 5% to 10%. The 2015 program (at the midpoint) represents a 44% reduction from the 2014 program of $1,425 million.

    With the precipitous drop in oil prices, Oasis has made the prudent move to hunker down and spend more in line with cash flow. Oasis plans to run six rigs by the end of March 2015 in the core area in Indian Hills, down from 16 rigs today. The company is high-grading its 2015 program by focusing on its core position in the Bakken, where we calculate the 10% break-even around $50 per barrel for West Texas Intermediate (WTI).

    We have adjusted our estimates for the reduced 2015 spending program relative to 2014. Based on our estimates, we calculate a funding gap of $59.8 million, based on our $80 per barrel WTI average. This gap widens to $213.6 million at $70 per barrel WTI for 2015. We believe management has ample core inventory, flexibility and liquidity to manage through the current down cycle. As of Dec. 8, Oasis had $500 million drawn under its $2 billion borrowing base and $82 million in cash and cash equivalents.

    On an enterprise value to earnings before interest, taxes, depreciation and amortization (EV/Ebitda) basis, Oasis is trading at 4.1 times and 3.2 times for 2015 and 2016, versus its peers’ average multiples of 4.6 times and 3.7 times, respectively. Our $25 price target implies 2015 and 2016 EV/Ebitda metrics of 5.4 times and 4.3 times, respective

  • stock_watch_900 by stock_watch_900 Dec 12, 2014 3:55 PM Flag

    Pure speculation of a takeover...wont happen!

  • Need strong hands here:

    Denbury Resources Inc. (NYSE: DNR) extended its losses Monday on news that two top executives got the axe and the company will cut capital spending plans in half for 2015.

    The oil and gas developer traded recently down 8 percent at $10.27; The company is off nearly 40 percent year to date.

    The departure Friday of its both its chief operating officer K. Craig McPherson and its head of production Charlie Gibson "signals that a quick turnaround from recent sputters in operating performance is unlikely," according to Credit Suisse's Arun Jayaram.

    Jayarum downgraded Denbury to Neutral, from Outperform.

    McPherson had been viewed as a potential successor to Chief Executive Phil Rykhoek, and is the second COO to resign from Denbury in 37 months, according to Sterne Agee's Tim Rezvan.

    Both McPherson and Gibson contributed to disappointing 2014 production growth, according to Rezvan, who said design flaws at a recent key project may have sealed the executives' fate.

    Rezvan joined in downgrading Denbury to Neutral and called the company "not a compelling investment" given the cut to its dividend outlook Friday and what he called "execution issues."

    Denbury's share price could go as low as $8 a share before its expected annual dividend of $0.40 a share would offer support, Rezvan said.

    The company had previously forecast an annual dividend of $0.50 to $0.60 a share, but said lower oil prices required the lower amount.

    Wunderlich's Jason A. Wangler maintained a Buy rating on Denbury pending the company's meeting with analysts Tuesday.

    But said the company's lack of share buyback plan will "likely cause concern in the market," Wangler said.

  • Reply to

    DVN is down 8.5% since June 30

    by mtay515 Sep 4, 2014 9:54 AM
    stock_watch_900 stock_watch_900 Sep 23, 2014 4:14 PM Flag

    There are several oil E&P stocks that are down 20-30% since the end of June. DVN has been lucky.......

  • Money will disappear as all the big boys sell the shares they bought for $68 for a quick $20 profit per share!

  • Reply to

    NAV is $22-$24 per share

    by stock_watch_900 Sep 22, 2014 1:03 PM
    stock_watch_900 stock_watch_900 Sep 22, 2014 7:24 PM Flag

    Kinder is a good buy as well, but as far as comparing to DNR, it is not exactly either/or since kinder is a pipeline business, has more exposure to interest rates, has an MLP structure that means that income is taxable to you at ordinary rates (vs. DNR's dividend taxable at 15%) and DNR will have a huge free cash flow windfall in a few years when its capex needs dry up, which it can use for buybacks or more dividend increases.

    Kinder is also a buy. Frankly I would think one of the MLPs that is looking for steady predictable income such as LINE would buy DNR at some point down the road......

  • Reply to

    NAV is $22-$24 per share

    by stock_watch_900 Sep 22, 2014 1:03 PM
    stock_watch_900 stock_watch_900 Sep 22, 2014 2:12 PM Flag

    Don't forget that all these companies with bigger growth prospects need to borrow billions of dollars to fund the growth (well drilling) and that those well have high initial decline rates. DNR may have slower growth than some of the high fliers such as EOG but it also generates free cash flow, while the others have to go deeper into debt or sell assets.

  • stock_watch_900 by stock_watch_900 Sep 22, 2014 1:03 PM Flag

    Per all the analyst reports, the NAV is in the low $20's per share...and that is with pricing in low single digit growth......not quite sure why this stock trades at such a discount....

  • Reply to

    Ouch..looks like a 1 cent miss..

    by red_sox_10_nyy_3 Sep 21, 2014 10:42 PM
    stock_watch_900 stock_watch_900 Sep 22, 2014 8:29 AM Flag

    That's old news from 6 weeks ago....

DVN
61.31+1.02(+1.69%)Dec 19 4:01 PMEST

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