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re: Continental Resources unwinds its crude hedges - takes $433MM gain, goes naked

Posted on 11/6/14 at 5:40 pm to
Posted by sneakytiger
Member since Oct 2007
2474 posts
Posted on 11/6/14 at 5:40 pm to
quote:

They do own the oil after all.


Which they will continue to incur costs to produce, transport and market if under a contractual supply commitment or the carry to park in storage. They are straight up long physical crude. Sounds nekkid to me
Posted by GREENHEAD22
Member since Nov 2009
19642 posts
Posted on 11/6/14 at 6:02 pm to
He better be worried about those divorce proceedings coming up. Stupid arse should have gotten a prenup, she is about to be quite rich.
Posted by tiddlesmcdiddles
Lafayette, LA
Member since Apr 2013
1719 posts
Posted on 11/14/14 at 9:30 am to
quote:

Which they will continue to incur costs to produce, transport and market


not to mention oil/gas is a depleting resource and add on top that he doesn't plan to add any new rigs while prices are low, sounds pretty risky. unless he plans to buy production to keep their numbers up?
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