Abraxas Petroleum (NASDAQ:AXAS) says it will cut its 2015 drilling budget to $54M from $200M, with most of the reductions coming from the Eagle Ford where it will now release the rig after the drilling of the R. Henry 1H; AXAS also is postponing its planned 2015 Permian development until commodity prices recover.
AXAS also cites several factors in lowering expected Q4 production volumes to 6.7K-6.8K boe/day, while still expecting to reach its forecast exit rate of 8.5K boe/day in the coming weeks when the Stenehjem wells are all flowing to sales.
Maybe it's working on the right shoulder (around 32-33) of the head and shoulders (left 32.14, right 33.31).
good posts minus the basic English grammar (singular and plural) mistakes. Here are at least three being counted: 1. "The greedy Wall street knowS (not know!) all these". 2."It is ("not They are" an important part of the cheating and corruption scheme. " 3. "Has (not have) anyone ever asked why BABA..."
July 28, 2014
Synergy Resources pullback on Noble comments overdone, says FBR Capital
FBR Capital says the sell-off in shares of Synergy Resources (SYRG) following Noble Energy's (NBL) cautious midstream and regulatory comments provides an attractive entry point into the name. FBR believes Noble's operational and well performance update for the Niobrara has "overwhelmingly positive" implications for Synergy. It reiterates an Outperform rating on the stock with a $19 price target.
Found the article at Seekingalpha
Thanks for the info. I am new to SLCA which is up about 205% (54.58-17.86) since last May. I was hoping to get a better entry point than now.
I thought about the same thing about this board. I was thinking about picking up a few shares when it at least corrects 12% or more. It doesn't want to go up in either up days or down right now.
The P/E of this stock is 62.81 that is very high though.
Couldn't stand to watch the paint dry any longer. I've finally sold it with a small profit yesterday. Will reload in the future.
This stock has been almost stationary since mid-Feb 2014, It seems that it doesn't want to go anywhere. I am still holding...
1. Per Insider Transactions, officer Harris Joshua has roughly sold more than FIVE million shares of APO since May-14-2013. Noticing the sold shares are way outnumbered what he still owns the company now. Wondering if he knows something that we don't. How can I a long not be a bit concerned when an office is selling the company's shares like there's no tomorrow?
2. Has anyone noticed that APO barely budged when the market (Dow was up 198 and etc) last Friday?
Here is the latest insider sales info:
Joshua Harris, a major owner of Apollo Global Management and Apollo Global Management's Senior Managing Director and a director of the company, recently sold 121,237 shares of the company. The sales took place at prices ranging from $30.20 to $30.31 per share, on dates ranging from December 09 to December 11, 2013. Harris still owns 504,190 shares of the company.
Shares have already dropped about 24% since its high 28.50. I thought that I could pick up a few shares today, but the extremely high volume decline and an up day in the market preventing me to proceed :-(.
Thanks. My order didn't get filled at $29.70 on 02-27-2013. I lost the nerve today to pull the trigger around 28 and change given an 8% decline with a relatively high volume. Maybe I get to buy it next week.
New to DWSN. Its revenue has dropped per the following report, but shares went up 11% on Feb-08-2013. Could any of the gurus here share your expert opinion on this? Thanks.
"Reported revenues of $76,629,000 for the quarter-ended December 31, 2012, compared to $92,382,000 for the same period of fiscal 2012;"
Thanks for the article. I was just debating if I should start a position on ELLI.
Worse Before It Gets Better
WHAT WE’RE HEARING…from Ellie Mae executives is that the current high cost of compliance is going to get even worse, and as it does it will knock more of the small industry vendors without sufficient financial resources out of the business—or perhaps into acquisitions—fueling growth at larger players.
“A small vendor really can’t keep up,” Sig Anderman, chief executive of the publicly traded origination technology firm, tells us, noting that his company may use available cash to do some strategic buying in line with the trend.
If you think compliance costs are bad now, just wait, Ellie Mae chief operating officer Jonathan Corr warns.
“It’s going to get a lot more difficult,” he says, and he believes the merger of Real Estate Settlement Procedures Act and Truth in Lending Act forms is going to be “the big one” when it comes to new Dodd-Frank requirements coming into play.
Corr tells us Ellie Mae, which has been in the business for over a decade and has made several acquisitions over that time, has the resources and M&A track record needed to deal with the rising costs. He notes that Ellie Mae has shown it likes to keep management when it can and pay “fair prices.” Anderman tells us the company wants to avoid debt and does not feel it will need to take on any to do so, either. It has at least $100 million in available cash.
When asked what key challenge Ellie Mae itself faces in this compliance-heavy environment, Corr tells us it will lie in the need to sustain the growth of the firm as a larger company, balancing the need to sustain and expand its current operations and customer base with the need to identify possible new potential sources of growth.
Key to the compliance challenge and what might determine how well a company like Ellie Mae might be able to generate favorable growth for its shareholders is the idealized goal of automation that can control loan quality—including compliance—in secondary market sales from very early on in the origination process.
While Ellie Mae executives work on this with some notable big names in the business like Wells Fargo, others like Stonegate Mortgage CEO Jim Cutillo and Stonegate president Dan Bettenberg also tell us they see this as a key goal.
Cutillo tells us that having a way to, if you will, “perfect an asset record” will be a key strategy at his company. And compliance will be a big part of that, Bettenberg says. Compliance, he tells us, will be “as big as credit and collateral in previous cycles.”
Bonnie Sinnock is managing editor of National Mortgage News and editor of Origination News. She has been covering the mortgage industry since 1995.
Thanks for all the replies.
The 10% drop maybe related to this short note from seekingalpha:
Wednesday, December 12, 3:15 PM Despite keeping a Strong Buy rating on American Vanguard (AVD -9.8%), Feltl & Co. notes the ag product company's unique niche in the corn soil insecticide market could come under threat as "several major companies may soon enter or significantly expand their offerings... the possibility of looming competition on this front may start to weigh on the stock."