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Message
1
Posted on 7/20/15 at 3:25 pm to sneakytiger
EXXI is a big player on the shelf. They acquire a lot of old wells and recomplete them. This means they don't spend as much money as they would on new drills. They can still make money when oil prices are low.
It will bounce back eventually.
Worst case scenario is they get bought out.
It will bounce back eventually.
Worst case scenario is they get bought out.
Posted on 7/20/15 at 3:56 pm to dkreller
quote:
EXXI is a big player on the shelf. They acquire a lot of old wells and recomplete them. This means they don't spend as much money as they would on new drills. They can still make money when oil prices are low.
It will bounce back eventually.
Worst case scenario is they get bought out.
You seem to completely disregard the massive amount of debt they are sitting on (~4.6 BILLION dollars worth)
Forget whether it costs a lot for them to drill, they need higher oil prices so they can pay their debt.
Posted on 7/20/15 at 3:57 pm to dkreller
quote:
Worst case scenario is they get bought out.
I don't mean this as a smart arse, but is that really the worst case scenario?
Posted on 7/20/15 at 4:08 pm to Grits N Shrimp
quote:
quote:
Worst case scenario is they get bought out.
I don't mean this as a smart arse, but is that really the worst case scenario?
that's a very fair question...they do have assets but also as i mentioned above a ton of debt the question i've been asking with these and other highly levered small cap E&Ps is will someone rescue them and buy them out and be willing to take on all that debt OR will they be allowed to fail and large E and Ps can just buy their assets out of bankruptcy. I obviously don't know the answer but it will be interesting to see which scenario plays out.
Posted on 7/20/15 at 4:24 pm to GREENHEAD22
quote:
the feds have stepped up there pain the assness 10 fold. There big thing on the shelf now is cracking down on old equipment and pulling out unused equipment and structures.
This is exactly what the feds should be doing. Sorry that FORCING you to take our old and unused infrastructure is costly, but that should have been budgeted from the beginning. The GOM is not a dumping ground.
Posted on 7/20/15 at 4:26 pm to whodatigahbait
They are on record stating they need $400MM just to fund maintenance capex to maintain current production levels and satisfy P&A obligations. I don't know if they have the liquidity to fund that, let alone any targeted "sweet spot" growth to attempt to grow out of their hole. Even if they have the liquidity, it just means more leverage. No buyer is going to step in and assume their debt or pay them enough for the assets to pay back their creditors. Absent some significant moves in crude it's not looking very good.
Posted on 7/20/15 at 6:22 pm to Sid in Lakeshore
The oil rigs form the worlds largest artificial reef system. Old infrastructure shouldn't be pulled out, it should be literally dumped on sea floor or cut off beneath the surface. That's what the LA rigs to reef fund is supposed to be for.
You should google Towers of Life and watch some rig diving videos before you make the assumption that oil platforms are bad for the environment. Whether producing oil or not, they are hugely beneficial to the ecosystem and fishing industry.
You should google Towers of Life and watch some rig diving videos before you make the assumption that oil platforms are bad for the environment. Whether producing oil or not, they are hugely beneficial to the ecosystem and fishing industry.
Posted on 7/20/15 at 10:19 pm to mohalk
I would stay away big time, the shelf is dying and will take many with it. The hole they are in is way to big for the assets they have. Will explain more latter but I would be wary of any company heavily invested on the shelf especially if they are debt loaded.
Also imo there chances of being bought out are almost none.
Also imo there chances of being bought out are almost none.
Posted on 9/8/15 at 8:38 am to GREENHEAD22
LINK
Anyone care to take a stab at what this means? Seems like a bunch of incompetent people running this company (into the ground).
Anyone care to take a stab at what this means? Seems like a bunch of incompetent people running this company (into the ground).
Posted on 9/8/15 at 9:04 am to OnTheBrink
That's purely accounting garbage, no one cares
Posted on 9/8/15 at 9:12 am to OnTheBrink
It means they were misstating the company's income. The misstatements could have impacted the company's income taxes in prior years as well as the company's compliance with debt covenants. In which case the company may have some issues with the IRS and its creditors.
Posted on 9/8/15 at 9:52 am to Poodlebrain
Thanks guys!
Posted on 9/23/15 at 12:22 pm to OnTheBrink
Getting dangerously to sub 1$
This post was edited on 9/23/15 at 12:28 pm
Posted on 9/23/15 at 3:05 pm to NOLAGT
quote:
Getting dangerously to sub 1$
Yeah, unfortunately I have noticed. I came to the conclusion a couple of bucks ago I would lose it all. Or make money. Only a dollar way from the former.
Posted on 9/24/15 at 10:20 am to OnTheBrink
Broke a buck this morning. I still want to get in...just having a hard time pulling the trigger. Getting in sub dollar would be nice if it has a spike to 4ish again.
Posted on 9/24/15 at 10:37 am to NOLAGT
quote:
Broke a buck this morning. I still want to get in...just having a hard time pulling the trigger. Getting in sub dollar would be nice if it has a spike to 4ish again.
If it gets to 4 again I will be
in the streets! ETA: And what is scary is they still haven't announced when earnings will be since they canceled in the link I posted above.
This post was edited on 9/24/15 at 10:52 am
Posted on 9/24/15 at 4:27 pm to GREENHEAD22
We gonna start farming? 
Posted on 9/24/15 at 9:01 pm to jimbeam
Boy, I'm glad I got out of this when I did. I was as wrong as anyone could have ever been.
I hope all of you are averaged down, and you make some cash, but I'm glad I got out alive.
I hope all of you are averaged down, and you make some cash, but I'm glad I got out alive.
Posted on 9/25/15 at 7:09 am to jimbeam
Things keep going the way they are in the O&G sector and I get laid off then hell yea. Your old man finally giving in to you working the farm?
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