A couple things come to mind. Are investors waiting to estimate the affect on Magellan of the pipeline shutdown OR there is announcement pending (although I think that would be already part of the news).
Yup. Bridger LLP which runs south through Poplar from the Plains Pipeline in Canada. Town of Glendive is well south of Poplar. What is your point? Bridger takes oil from Plains Marketing and from other oil companies.
I know! I know! Have not been this excited since raising my hand with a correct answer in 3rd grade. The answer is zero, zip, nada. Thanks for the softball lob of a question nwg. Made me feel good but probably embarrassed avi.
Won't disagree, after watching 45 minutes of Seahawk futility before that unbelievable finish but I have come to the conclusion that, anyone overlooking the Hawks for even a small period of game time, are going to get burned. A lot will depend of the health of the Seahawk secondary and on the ability of the Hawks to harass Brady. Just getting to the Superbowl twice in a row is an amazing fete by a team.
Gives no clue as to who would invest or how to raise the money but the idea was thrown out there for his minions. I thought for a moment that his sycophants were going to claim he had invented the Hyperloop concept. Guess I am just feeling a bit snarky this morning.
Indeed you have been alex and you also provided cautionary advice to posters when things were turning sour. I think we reached a point where some good money can be made when the shares were around 5 dollars each. I will be eager to see how the past quarter worked out in terms of revenue and profit but I think the company could be on the verge of 50-60 cents per share this coming year and a 10-11 dollar share price. Hold for now until I see a couple more quarters results but not far from a buy recommendation.
Thanks skatz and ted. I tend to agree but boy this is hard to take. I can hold on for a few more years so will do so and add some shares down in this range.
How much of the current decline is already factoring in an extended period of rigs being shutdown? Thoughts welcomed on earnings going forward, ability to cover debt obligations etc etc.
Article seems to be filled with a lot of "what ifs" such as what if more shale oil is produced outside the U.S. in the next 5-10 years. What if the technology to drill shale becomes very much more, and therefore cheaper, going forward? What if vast shale reserves are easily exploited (not sure that is not easier said than done given all other costs associated with fracking). And he concludes with saying that SA will probably still be the lowest cost producer but he would not be betting against the above scenarios happening in the future. I am far more interested in this "what if". What if Magellan can get its cost of production down substantially. That is what would make me much happier.
Magellan began injecting CO2 in March 2014 and said they expected to be in position by the first quarter of calendar year (this quarter) to announce preliminary results at to the viability of the project. In the UK the Horse Hill prospect is awaiting permission for a flow test in the conventional well that intersected well fractured hydrocarbon zones in late 2014 and partner Celtique should be reporting results of drilling in the central Weald Basin. In Australia the company must hope to gain a drilling partner and drill the NT/P26 permit by 2016 or the permit lapses. I suspect the company has sufficient reserves of funds to make it into 2016 but there is no question that 40+ dollar oil will make it very difficult for the company even if reserves are substantially increased unless the oil in Poplar and the UK can be extracted much more cheaply than appears to be the case at this time. This is a speculative hold on my part but must admit that my willingness to stay with the company has been degraded by world events over which management has no control.
Stock price is almost schizophrenic. 22 to 27 to 24 to 26 (all since the Antares disaster) kind of affirms the market's lack of surety over what the merged company will be worth per share. ATK has been moving up and the London Co. of Virginia's purchase of a rather decent passive stake is interesting given some of the negative headlines indicating that OA may be left behind by SpaceX et al.
Only thing I see for Jan 2014 is that they were delisted from TSX and were applying for listing on the TSXV which I would assume is like the pink sheets.