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Posted on 10/1/15 at 1:33 pm to Alahunter
Hopefully is right. $21 billion in debt isn't helping. The acquisition of plains was terrible timing for freeport. Paid way to much. I think they reach $5.00 before they recover. I'm certainly not a buyer before earnings this month.
Posted on 10/1/15 at 2:26 pm to BROffshoreTigerFan
quote:
Yes. I'm downtown OKC.
hearing anything about Sandridge? We have a lease just north of the Ok line in Ks that they paid up on to drill and never came in. Its hbp right now so no more mineral lease.
Was curious if SD would survive this
Posted on 10/1/15 at 2:34 pm to FelicianaTigerfan
quote:
Was curious if SD would survive this
Sandridge is essentially dead at sub $70 oil, it's just a matter of how long it takes. I've seen some presentation on them that are not very rosy. They were run by Tom Ward, a former CHK partner with McClendon, who basically looted the company before they ran him off. They are like CHK except they have lower quality assets and more leverage relative to those assets.
Posted on 10/1/15 at 2:50 pm to Spec1
Yes, I believe crude has found bottom, for the good news.
The bad news, don't believe we'll see above $60.00 to $65.00, sustained, for a long time...
The bad news, don't believe we'll see above $60.00 to $65.00, sustained, for a long time...
Posted on 10/1/15 at 3:11 pm to TigerDeBaiter
quote:
$21 billion in debt isn't helping. The acquisition of plains was terrible timing for freeport
Yeah, they took a beating on that, as did CAT and some others.
quote:
I think they reach $5.00 before they recover. I'm certainly not a buyer before earnings this month
I wouldn't be totally against it going down. I didn't buy a whole lot, as I'm trying to learn as I go. If it got down around that I'd definitely try to buy more. I probably should have sold after it jumped to 12.05 the middle of Sept then rebought. I had no idea though where it was headed. They say target on it was in the 15-16 range at the time.
Posted on 10/1/15 at 3:27 pm to TigerDog83
quote:
Sandridge is essentially dead at sub $70 oil, it's just a matter of how long it takes. I've seen some presentation on them that are not very rosy. They were run by Tom Ward, a former CHK partner with McClendon, who basically looted the company before they ran him off. They are like CHK except they have lower quality assets and more leverage relative to those assets.
That's pretty spot on. I made the move to Continental almost 2 years ago from CHK and I couldn't be happier. Seems to be a company that is run a lot better.
Posted on 10/1/15 at 3:55 pm to BROffshoreTigerFan
I followed SD for a while. I even bought some stocks hoping good faith karma would kick in and id be rewarded when they drilled 
Posted on 10/1/15 at 8:32 pm to FelicianaTigerfan
We need a good solid hurricane...
Posted on 10/1/15 at 9:27 pm to poochie
I don't know even how much that would help due to all of the onshore production.
Posted on 10/1/15 at 9:56 pm to BROffshoreTigerFan
quote:
Maybe, but my gut says no. If the Iran deal is cancelled
I said this exact thing a couple of weeks ago and still believe it. With that being said I am currently kicking myself in the arse for being bored and getting antsy while I am sitting offshore and jumping in only to watch the market open and 2/3 of what I bought drop right off the bat.
My gut, which I didnt listen to, says wait until Jan and let the Iran deal play out. If they get the green light the market if going to be flooded every quickly with there crude. Not only do they have significant storage right now they would also start ramping up production leading to a gradual increase for the next couple of years.
Posted on 10/1/15 at 11:28 pm to BROffshoreTigerFan
I had a job offer to go work at continental last April as a reservoir engineer, back when the industry was kickin' and I was finishing grad school. It was a nice offer but I went to work elsewhere. How you liking working for Hamm at continental?
Posted on 10/2/15 at 1:16 am to barry
quote:
The nature of a capital intensive commodity like oil has become is that the lows will eventually lead to a boom because the infrastructure won't be in place the next time demand spikes. It can't stay too low forever, we are finally starting to see companies go under in Q4.
I completely agree with this. Every time companies make extreme cuts to CapEx in order to help short term cash flow, the effect several years down is like a slingshot. They won't be able to ramp up production quick enough in two to three years. Soon we should see companies begin to go under, production curves will continue to fall, and oil should stabilize. I believe we have seen the bottom. We've seen the dead cat bounce and oil rested right back around $45/bbl. Seems to be the spot where people jump on it if it dips below that magical number.
Posted on 10/2/15 at 10:01 am to TheIndulger
I've got nothing but good to say about this place after 18 months. Small teams that work together really well. They really stepped up when I had a personal issue after just starting that they really didn't need to do, and I know CHK would never do. They've been really honest about our direction since the downturn, and have fought to not have to layoff company personnel. I've been in oil and gas since early 2000; best company I've worked for in the industry.
Posted on 10/2/15 at 11:43 am to BROffshoreTigerFan
Damn. Probably should've gone to work there. Sounds like a great place to work.
Posted on 10/2/15 at 12:18 pm to BROffshoreTigerFan
quote:
I've got nothing but good to say about this place after 18 months. Small teams that work together really well. They really stepped up when I had a personal issue after just starting that they really didn't need to do, and I know CHK would never do. They've been really honest about our direction since the downturn, and have fought to not have to layoff company personnel. I've been in oil and gas since early 2000; best company I've worked for in the industry.
From what I have heard Continental is well run and has good assets with the Bakken and this new Oklahoma shale play, but like everybody else they need better pricing. Hamm took a pretty big PR blow when he sold off the hedges last fall/winter. How is the Springer working out so far?
Posted on 10/2/15 at 12:28 pm to Spec1
I think we hit bottom around Jan-feb but we won't get far off the bottom for a while.
Posted on 10/2/15 at 1:26 pm to BROffshoreTigerFan
I would like to work for them but the wife doesn't want to go to OK..
Posted on 10/2/15 at 2:19 pm to Spec1
Probably around 20 dollars a barrel.
Posted on 10/2/15 at 2:43 pm to TigerDog83
Hamm took a pretty big hit when his marriage started getting rocky too
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