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re: XOM stock (also other major oil stock talk)
Posted on 7/1/15 at 3:38 pm to Tiger Bawlz
Posted on 7/1/15 at 3:38 pm to Tiger Bawlz
quote:Anonymity is your friend...
I'm done with this conversation before I get fired and never find another oil job.
ETA: Also, I find it interesting that you've been a member for nearly 8 years yet all 55 of your posts are less than 8 days old...
This post was edited on 7/1/15 at 3:43 pm
1
Posted on 7/1/15 at 3:42 pm to OnTheBrink
quote:He is under an NDA, so I doubt he will respond further, like he said.
Go on... Any thoughts on EXXI while you are here?
I don't work in the industry, so I can talk about EXXI, though. In the past, before oil prices fell, the CEO/company tried to act like it was bigger than what it was: paying a premium to acquire other companies and fields, flying employees on short trips instead of having them drive or be driven, and other frivolous expenses. It doesn't help that they made an acquisition right before oil started dropping last summer.
Now, their debt is way too high, and it is coming due faster than they can produce cash flow. With their debt levels, no one is going to acquire them; other companies would rather let EXXI go bankrupt and buy their assets for cheap on the auction block.
EXXI will probably survive, though. They need to restructure their debt, and I am sure the lenders will agree to work something out so that they get their money back. The frivolous expenses can easily be reigned in as well.
You may be sitting on that stock for a while, but I think you can eventually break even or profit from it.
Posted on 7/1/15 at 3:44 pm to Omada
Cool, do you have similar information on DNR?
Posted on 7/1/15 at 3:44 pm to Omada
quote:
Omada
Posted on 7/1/15 at 3:52 pm to OnTheBrink
quote:
Go on... Any thoughts on EXXI while you are here?
No go, unless you're in for the long term
This post was edited on 7/1/15 at 4:21 pm
Posted on 7/1/15 at 3:53 pm to bayoubengals88
quote:
Also, I find it interesting that you've been a member for nearly 8 years yet all 55 of your posts are less than 8 days old...
That's none of your business why I finally became active again.
Posted on 7/1/15 at 4:39 pm to bayoubengals88
quote:Never heard of it, but I will take a look. I've probably seen the name before, though, since apparently one of their CO2 fields is not too far from where I grew up. I'll ask around the next time I'm back there to try to get some scuttlebutt.
Cool, do you have similar information on DNR?
DNR's financial ratios seem to indicate a financially healthy company, so something else must be the issue. What that issue is, I cannot yet say, but I will do some digging to find out. When I do, I'll either start a thread or post in this one, depending on how long it may take and if this thread is buried then. I may buy if it looks okay.
I should mention that my EXXI information is partly scuttlebutt, partly financial analysis. A friend who once interned with EXXI asked me about the stock in October. I took a look, saw the heavy debt and the debt maturity schedule, and told him not to buy, especially after seeing them say in their own financial statements that they had paid a premium in the past for acquisitions. It was then that he told me about how they liked to frivolously spend money in day-to-day operations on flights, etc., so I knew then that the stock was in for a rough ride.
@OnTheBrink
Posted on 7/1/15 at 4:48 pm to Tiger Bawlz
Seven Sisters? Is that code for something?
Posted on 7/1/15 at 4:53 pm to TigerTatorTots
Just a guess...
XOM
CVX
RDS
BP
TOT
COP
E
Omada
XOM
CVX
RDS
BP
TOT
COP
E
Omada
This post was edited on 7/1/15 at 4:54 pm
Posted on 7/1/15 at 5:05 pm to TigerTatorTots
quote:The 7 companies that formed a consortium for Iran that dominated the global oil industry after WW2 until Iran kicked them out and started a theocracy. Combined, they owned ~85% of the world's oil reserves before 1973. The rise of OPEC and state-owned oil companies has caused a decline of their power (and that of their successors).
Seven Sisters? Is that code for something?
The 7 Sisters:
Anglo-Persian Oil Company: now known as BP
Gulf Oil: mostly now part of Chevron, but BP got some also
Royal Dutch Shell
Standard Oil of California: now Chevron
Standard Oil of New Jersey: aka Exxon, now ExxonMobil
Standard Oil Co. of New York: aka Mobil, now ExxonMobil
Texaco: now part of Chevron
Today, these companies (BP, RDS, XOM, CVX) and Total SA are commonly referred to as Big Oil, the largest publicly owned oil and gas companies. COP is sometimes also included.
ETA: bayoubengals88 was darn close. Just take out COP and Eni and go back 40+ years.
This post was edited on 7/1/15 at 5:11 pm
Posted on 7/1/15 at 5:19 pm to Omada
Nice
Posted on 7/1/15 at 5:46 pm to TigerTatorTots
quote:
Seven Sisters? Is that code for something?
Yes. Top Oil Companies in the World. Thx Omada
This post was edited on 7/1/15 at 5:49 pm
Posted on 7/1/15 at 6:02 pm to Tiger Bawlz
How big would standard oil be today if it weren't split up?
Posted on 7/1/15 at 6:16 pm to mikie421
Wikipedia says possibly upwards of a trillion dollars. I have no doubt...
Posted on 7/1/15 at 6:51 pm to mikie421
quote:No one can really say, considering the amount of things that could happen to a company that size over 100 years. But you can look at the spin-offs'/successors' market caps to get an idea:
How big would standard oil be today if it weren't split up?
ExxonMobil: $350 billion market cap
Chevron: $180 billion
ConocoPhillips: $75 billion
Phillips 66: $44 billion
BP's America Division: can't find a price, but this division is 1/3 of BP's global business interests, so 1/3 of BP's market cap= $40 billion
Marathon Petroleum: $28 billion
Marathon Oil: $18 billion
Total: $735 billion
That's under $1 trillion, like bayoubengals88 mentioned, but keep in mind that: 1. the current oil price drop has hurt these companies' market caps; 2. BP's Gulf oil spill; 3. other companies acquired some of the spin-offs, such as Pennzoil; 4. many other spin-offs I'm not going to bother looking up or have missed; 5. no clue what became of Standard Oil's Chinese and Arabian assets.
This post was edited on 7/1/15 at 6:53 pm
Posted on 7/1/15 at 6:56 pm to Omada
Also all of Imperial Oil, right?
Posted on 7/1/15 at 7:40 pm to bayoubengals88
I think so, yes. That would be another $33 billion, bringing the total to $768 billion.
Another method:
Rockefeller owned 25% of all the spun-off companies, and his worth in 2007 dollars is, conservatively, $300 billion and as high as $660 billion. So Standard Oil was worth $1.2-2.64 trillion in 2007 dollars.
Another method:
Rockefeller owned 25% of all the spun-off companies, and his worth in 2007 dollars is, conservatively, $300 billion and as high as $660 billion. So Standard Oil was worth $1.2-2.64 trillion in 2007 dollars.
Posted on 7/1/15 at 9:27 pm to mikie421
quote:
XOM stock (also other major oil stock talk)
How big would standard oil be today if it weren't split up?
They would own Saudi Arabia. It would be the new CUBA before Fidel. (Hypothetically)
This post was edited on 7/1/15 at 9:58 pm
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