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re: EXXI - hitting new lows everyday
Posted on 12/8/14 at 2:40 pm to cwill
Posted on 12/8/14 at 2:40 pm to cwill
quote:Actually you didn't. You must be thinking of another thread and company.
I am leaning towards losing it all.
Been telling folks for months that's the most likely outcome.
I just re-read this entire thread and you never said you thought the company was going to go bankrupt.
In fact, when another poster mentioned the possibility EXXI might declare bankruptcy you said that was talk in the industry but you thought that management would be replaced before that happened.
ETA: Here's a link to that post.... LINK
This post was edited on 12/8/14 at 2:45 pm
3
Posted on 12/8/14 at 2:43 pm to LSURussian
quote:
I just re-read this entire thread
damn dude, get a job
Posted on 12/8/14 at 2:45 pm to white perch
This is my job.
Posted on 12/8/14 at 2:49 pm to LSURussian
Posted on 12/8/14 at 2:53 pm to LSURussian
quote:
Actually you didn't. You must be thinking of another thread and company.
I just re-read this entire thread and you never said you thought the company was going to go bankrupt.
In fact, when another poster mentioned the possibility EXXI might declare bankruptcy you said that was talk in the industry but you thought that management would be replaced before that happened.
I've been saying not to invest...and I do think Schiller and the mgmt team goes before belly up, but that's just the step before...take it as you like...I'm not going to quibble over that point.
Posted on 12/8/14 at 3:18 pm to cwill
quote:You just did....
I do think Schiller and the mgmt team goes before belly up, but that's just the step before...take it as you like...I'm not going to quibble over that point.
Posted on 12/8/14 at 4:09 pm to LSURussian
quote:
LSURussian
Gee golly, you are so smart.
Posted on 12/8/14 at 4:31 pm to barry
Thanks, I know....
Posted on 12/8/14 at 4:42 pm to LSURussian
Do we have an award for worst investing decision for the year on this board?....I may have everyone beat...
Posted on 12/8/14 at 4:48 pm to TexanWhoDat74
quote:
Do we have an award for worst investing decision for the year on this board?....I may have everyone beat...
I've won it several times. Welcome to the club!
Posted on 12/8/14 at 6:11 pm to LSURussian
If somebody would have told me NYMEX oil futures even two years out were going to plummet this quickly, then I would have bet on EXXI bankruptcy too.
Dec 2017 oil was $88 in mid-Sept, $79 in late October, and stands at $70 today.
At this point my EXXI basis is around $5.80/share (ouch), but I am holding on in hopes that the entire curve flips back before the middle of next year. This is a relatively small position that I knew had a big risk before investing. If it busts then c'est la vie.
Dec 2017 oil was $88 in mid-Sept, $79 in late October, and stands at $70 today.
At this point my EXXI basis is around $5.80/share (ouch), but I am holding on in hopes that the entire curve flips back before the middle of next year. This is a relatively small position that I knew had a big risk before investing. If it busts then c'est la vie.
This post was edited on 12/8/14 at 6:14 pm
Posted on 12/8/14 at 6:48 pm to TexanWhoDat74
I am holding 325 shares, one 125 purchase and two other 100 share purchases. While it is a small percentage of my portfolio, it would hurt to lose it all. The day oil dropped $4 or $5 I made my last purchase at $4 something, wish I didn't but oh well. What's bad is I started to again today but talked myself out. I am averaged at 6.39. If I have patience I feel like this will turn around, but I have a feeling if I get to break even I will want to get the frick out. Or, I will lose it all.
Posted on 12/9/14 at 1:21 pm to OnTheBrink
rebounding today
Posted on 12/9/14 at 1:58 pm to Bassmaster
Posted on 12/11/14 at 3:38 pm to cwill
Not sure if anyone saw this, but it makes me feel a little better...
LINK
LINK
quote:
Stimulus Effect
The Fed's three rounds of bond buying were a gift to small companies in the capital-intensive energy industry that needed cheap borrowing costs to thrive, according to Chris Lafakis, a senior economist at Moody's Analytics in West Chester, Pennsylvania.
Quantitative easing "has been one of the keys to the fast, breakneck pace of the growth in U.S. oil production which requires abundant capital," Lafakis said.
One of those to take advantage was Energy XXI Ltd. (EXXI), an oil and gas explorer, which has raised more than $2 billion in the bond market in the past four years.
The Houston-based company's $750 million of 9.25 percent notes, issued in December 2010, have tumbled to 64 cents on the dollar from 106.3 cents in September, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. They yield 27.7 percent.
Energy XXI got its lenders in August to waive a potential violation of its credit agreement because its debt had risen relative to its earnings, according to a regulatory filing. In September, lenders agreed to increase the amount of leverage allowed.
Bubble Risk
"We think the sell-off has been a little over done," said Greg Smith, a vice president in Energy XXI's investor relations department. "People are trading us as though we're distressed."
The company has "plenty of liquidity," Smith said. "Come January we'll be free cash flow positive," which is "a rarity in this business," he said.
Posted on 12/11/14 at 3:43 pm to OnTheBrink
Overall this table paints an okay picture, but you have to wonder how they are calculating the revolver availability and how generous and long-term their waiver is. I need to read up on that.
Posted on 12/11/14 at 4:27 pm to OnTheBrink
quote:
The Houston-based company's $750 million of 9.25 percent notes, issued in December 2010, have tumbled to 64 cents on the dollar...
They yield 27.7 percent.
quote:No kidding!
"People are trading us as though we're distressed."
Posted on 12/11/14 at 4:39 pm to LSURussian
LINK
that f'er hurt
I'll pass on a possible sequel. BHI looks good with support at 55
that f'er hurt
I'll pass on a possible sequel. BHI looks good with support at 55 This post was edited on 12/11/14 at 4:42 pm
Posted on 12/12/14 at 10:24 am to jb4
quote:
that f'er hurt I'll pass on a possible sequel.
I hear that. I really want to load up EXXI because I really think they will rebound in a big way, but I'm scared to pull the trigger. Anyone buying???
This would purely be a flip. I'm not looking to hold long term. Only long enough to ride it back up a while.
This post was edited on 12/12/14 at 10:26 am
Posted on 12/12/14 at 10:28 am to Douboy
I am in the same boat. They, well epl, is one of our bigger customers so I really don't want to think they will go away...so I want to invest. Just keep thinking I got $ for another rent house down payment...but I could make more on this if it went back up to the 20 range than I probably could on the rent house in 20 years Or loose it all
Or loose it all 
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