Hey I'll tell you what --- I'll give you a homework assignment and let you find out where they're located.....
With that said, they're #2 in the world in terms of reserves and the market is pricing BP at pennies on the dollar for these pristine reserves --- essentially $7/share on a reserves basis.
The above won't last and in the meantime (back at the ranch) BP has told its shareholders the dividend is its #1 priority and all these (smart) shareholders need do is keep collecting fat 6% dividend payments while the markets catch up to BP's true reserves market value
Sentiment: Strong Buy
Company continues to throw off lots of cash. Add in the $10B in divestments this year and the cash stockpile will be close to $50B, if not significantly more by year end.
Sentiment: Strong Buy
Apparently Ford hasn't been all the upfront about the high incidence of contamination, paint not bonding, early corrosion issues etc with aluminum --- the article talks about Expedition's long track record of problems with aluminum --- very ugly.
Well respected Consumer Reports also says auto body repairs will be 20-30% higher (ouch).
1/31/2015 --- Baker Hughes' weekly count reported 94 oil-drilling rigs were taken off the market this week; the largest U.S. land driller said it would lay off thousands of workers; and an international oil giant said it will cancel $5 billion in capital spending.
This week's drop left 1,223 oil units up, the lowest number in three years. That's just 106 rigs above the annual average in 1987, according to Baker Hughes.
"It's going to be a brutal environment," said James Crandell, an analyst with Cowen & Co. in New York. He said oil companies could pack up 850 to 1,000 rigs by the end of 2015, and the year could see the biggest annual downturn in oil spending in more than three decades. Drillers and oil-tool suppliers will likely have to drop their prices 15 percent to 20 percent. "I think this year will only be topped by the 1986 down-cycle."
According to Baker Hughes, the 94 oil rigs laid down this week made up the biggest one-week drop since 1987, the earliest year for which the company has data available.
Sentiment: Strong Buy
Itemizing what they'v announced, their pro forma cash flow, and what was laid out in the London presentations suggests they'll end the year with a massive $48B - $55B cash stockpile.
Probably time to go on a buying spree next year --- with 90% of new hydraulic fracturing activities losers @$60-80/barrel and 50-65% cash flow negative at $35-50/barrel BP should be able to pick up a large portfolio of bankrupt hydraulic fracturing assets across the US
Are you kidding me (Mr Media, CNBC) with that comment?
Last time I checked the USD chart ---it's off the charts (strong dollar uptrend).......get a grip
(We're about to get our clocks cleaned with that false strong dollar run-up --- contrary to popular opinion, with $18 Trillion in debt we are unquestionably the worst house in a horrible neighborhood)
BP holds a massive, pristine reserves portfolio and the market is pricing these assets pennies on the dollar. Proven natural gas and oil reserves (bln boe):
#1 Rosneft 33
#2 BP 25.6
#3 Exxon 25.2
#4 Petro China 24
#5 Lukoil 17
#6 Shell 13.9
#7 Petrobras 13.1
#8 Total 11.2
#9 Chevron 11.1
#10 Conoco Phillips 8.9
BP is also replacing hydrocarbons at a rate much higher than its peers --- I think one of these peers is going to acquire proven reserves on Wall Street vice CAPEX
US keeps about $350B in gold reserves (2% of our total sovereign debt)--- some argue even that figure is high and we only hold less than 1% of our debt in gold reserves)........Russia keeps about $50B in gold reserves (16% of total sovereign debt)
(we're in major trouble long term --- once the "race to the bottom" strategy every other country is employing viz-a-viz their currencies ends, our dollar may well go into free fall -- I'd say we're 12 months or so away from that beginning
S&P "ratings" are truly whacky............Russia has little, if any, sovereign debt (about $300B total), owns 26% of the world's natural gas reserves (below), has 5x (proven) / 50x (likely) oil reserves of the US and they rate it "junk".............if anything, with our massive debt pile , almost $18T (ranked 2nd worst in the entire world as a percentage of GDP) we should be ranked "ultra junk"..........(we're in trouble)
Total World Natural Gas Reserves 187,300,000,000,000
1 Russia 48,700,000,000,000 12 June 2013 est.
2 Iran 33,600,000,000,000 12 June 2013 est.
3 Qatar 25,100,000,000,000 12 June 2013 est.
4 Turkmenistan 17,500,000,000,000 12 June 2013 est.
5 United States 9,860,000,000,000 12 December 2013[11
He's an idiot and so are a lot of the "rating" agencies. I dislike Russia like most Americans but one really has to wonder about these "rating" agencies when you look at the numbers:
US Total Debt: $17.8 Trillion ($59,000 / per person)
Russia Total Debt: $323 Billion ($2,200 / per person)
US Debt as a % of GDP (2014): 106%
Russia Debt as a % of GDP (2014): 14.2%
I'd say longer term smart companies (like BP) who do business there will be in good shape given the immensity of natural energy resources these companies own in Russia.
Bodyguard (first 48 rounds): for a 11 ounce or so firearm with a tiny (2.75") barrel the thing is darn accurate out of the box. Integrated laser is a real plus but the long trigger pull isn't great if you have large hands. I understand why S&W does this (safety), but I may add an aftermarket to cut down travel and firm up the trigger reset.
Compact 9mm (first 72 rounds): It's "heavier" (20 ounces or so), but outstanding quality (S&W business as usual). For a tiny carry weapon it has a decent barrel length --- 3.5" and ample capacity (12 rounds). Normally, M&Ps have a little "excess" slide movement side to side to allow for reliable operation in the presence of dirt, contaminants, etc ---- didn't notice much with this firearm and it cycles flawlessly. The gun (like above) is pretty darn accurate out of the box (probably more accurate than its shooter)
doode (ignurt_o1d_codger) loser --- you're uninformed (as usual) and badly out of touch (as usual):
The federal government’s Obamacare enrollment system has cost about $2.1 billion so far, according to a Bloomberg Government analysis of contracts related to the project.
Spending for healthcare.gov and related programs, including at the Internal Revenue Service and other federal agencies, exceeds cost estimates provided by the Obama administration, the analysis found. The government’s most recent estimate, limited to spending on computer systems by the agency that runs the site, through February, is $834 million.
I agree design is a big issue (if you think Airbus ergonomics aren't quite up to speed, look at some of the Russian military stuff for real laughs), but this has bad decision making written all over it ---- why this guy flew into a multicell cluster with all that (flashing) on the WX radar and those violent down/updraft couplets is beyond me - a little (inexpensive now) fuel and vectoring around it could have avoided this tragedy.
I thought I told you (oneway) before BP is a UK company not subject to US Laws (Chap 7).
Get with the program before continuing your uninformed, absolutely baseless "commentary".
It's really unfortunate this country has been so wound around the axle with a bad law that many who voted on it simply didn't read. The "inside the beltway" read on the current litigants before the Supreme Court show the law being shot down -- 100s of millions of dollars wasted (again) by the certifiably useless federal government (don't ask how I know this).
I think the currency effects (strong dollar) still have lots of play to the downside for US exporters, Ford included.
Ford is actually losing market share in Europe and the whole of QE over there is only expected to increase 2015's auto sales .5% or so -- more of a catalyst for the big boys vice auto purchasing consumers.