On Monday, Abdallah el-Badri, the Organization of the Petroleum Exporting Countries’ secretary-general, said oil at $200 a barrel would be possible if producers don’t invest in new supply, and prices around $45 a barrel to $55 a barrel are likely the bottom for crude.
That would be phenomenal.
The energy crash has bottomed and it was caused by a combination of supply and demand because of a global slowdown and panic selling.
The $325M information that I posted was provided by Street Insider at Charles Schwab.
Magnum Hunter Resources (MHR) Guides FY14 Revenue
1:27 PM ET, 01/13/2015
Magnum Hunter Resources (NYSE: MHR) sees 2014 revenue of $325 million. Consensus is for revenue of $402 million.
and I expect a lengthy period of consolidation in the price at the stock's lowest level and some thinning out of companies with indebtedness, some going other and some merging. Then a recovery and prices of fuel rising to historical levels, low, medium or high, but not like now. The problem for the overall economy is that if businesses expand because of these low energy prices, when the prices go back up there will be a domino effect creating layoffs in those areas that expanded
Maybe choppy is a better word than volatile. I am not sure what you are talking about regarding your anticipation that Wednesday is going to be a day of revelation for the company. Right now the sector is the hottest thing happening with KITE and the JUNO IPO and it is possible that ZIOP is getting dragged up with them in concert.
Does anyone have an insight or reasoning behind the recent surge in the price of the company stock?
Unfortunately the Yahoo Finance Charts and Data provider was changed a few months ago and has since become, impossible to decipher, not to mention unreliable and unacceptable, so depend upon other sources and Google instead.
Wild Well Control has successfully replaced the Stalder 3UH's well head assembly. Due to the gas content being ~97% methane, there is currently no evidence of environmental damage to the immediate area as a result of the blowout. Additionally, no personnel have been injured in connection with the well control operations on the Stalder Pad.
On Friday, December 26, 2014, the US markets are open.
The Canadian markets are closed for Boxing Day. Day orders for Canadian stocks will be cancelled out at the end of the business day. Any Canadian GTC orders placed after the close of the US Market on Wednesday, December 24, 2014 will route to the Canadian exchanges on Monday, December 29, 2014. Dually listed Canadian stocks will trade in the U.S. markets on Friday, December 26, 2014.
Arab OPEC producers expect global oil prices to rebound to between $70 and $80 a barrel by the end of next year as a global economic recovery revives demand, OPEC delegates said this week in the first indication of where the group expects oil markets to stabilize in the medium term.
The delegates, some of which are from core Gulf OPEC producing countries, said they may not see - and some may not even welcome now - a return to $100 any time soon. Once deemed a “fair” price by many major producers, $100 a barrel crude is encouraging too much new production from high cost producers outside the exporting group, some sources say.
But they believe that once the breakneck growth of high cost producers such as U.S. shale patch slows and lower prices begin to stimulate demand, oil prices could begin finding a new equilibrium by the end of 2015 – even in the absence of any production cuts by OPEC, something that has been repeatedly ruled out.
"The general thinking is that prices can’t collapse, prices can touch $60 or a bit lower for some months then come back to an acceptable level which is $80 a barrel, but probably after eight months to a year," one Gulf oil source told Reuters.
A separate Gulf OPEC source said: "We have to wait and see. We don't see 100 dollars for next year, unless there is a sudden supply disruption. But average of 70-80 dollars for next year – yes.”