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Message
EXXI - hitting new lows everyday
Posted on 9/8/14 at 10:42 am
Posted on 9/8/14 at 10:42 am
EXXI
What is the MB's thoughts on this stock? This stock has been getting killed since buying up the old El Paso assets. It's traded below book value for a while now.
What is the MB's thoughts on this stock? This stock has been getting killed since buying up the old El Paso assets. It's traded below book value for a while now.
This post was edited on 12/16/14 at 1:13 pm
8
Posted on 9/8/14 at 10:48 am to sneakytiger
Everything I read says stay away, expected to continue to fall
Posted on 9/8/14 at 11:03 am to yellowfin
I'm buying more.
Posted on 9/8/14 at 11:32 am to yellowfin
quote:
Everything I read says stay away
I don't know about EXXI specifically, but I work in the industry and there does seem to be a renewed effort on shelf assets.
From what I have read, the spiraling costs of deepwater projects along with the better drilling technology, has caused many companies to look shallow again.
Maybe good assets+low stock price=buyout candidate?
Posted on 9/8/14 at 11:53 am to Iowa Golfer
Is it possible that the political posturing around tax inversion is in play here since EXXI is Bermuda based?
Posted on 9/8/14 at 12:03 pm to sneakytiger
Not that I think Cramer is the final word, but he has always thought EXXI was a takeover target.
Posted on 9/8/14 at 9:40 pm to poule deau
There are still a good but of difficulties when it comes to the shelf. Most of the stuff on the shelf is old and falling apart, many companies on the shelf are having the same problems as most in the north sea. Not only are the facilities inefficient but since Macondo 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. Doing this is very expensive and is a big reason for a lot of companies pulling out of the shelf and looking at land. Apache was looking at billions for pulling out all the old shite they had on the shelf.
Posted on 9/8/14 at 10:45 pm to sneakytiger
EXXI owns 7 of 11 largest conventional fields in the gulf. Also acquired EPL last year. Their only real risk is that they are 100% offshore. However being offshore experts presents possible growth opportunities with the gov't exploring the eastern seaboard for future drilling. Fact of the matter is they are extremely underpriced. Not to mention several EXXI execs acquired lots of shares last week.
S&P energy sector has been getting hammered because of the slide in oil prices. There's MANY underpriced energy stocks right now. BUY BUY BUY.
S&P energy sector has been getting hammered because of the slide in oil prices. There's MANY underpriced energy stocks right now. BUY BUY BUY.
Posted on 9/8/14 at 10:46 pm to sneakytiger
On the technical side it is in a free fall. I wouldn't consider opening a long position until I saw a breakthrough of 16.75 with a pull back which held up above 16.75. Even then it would be a short term trade.
Long term it is in phase 3, downtrending. A solid base of support needs to be established, which will take time. Overall, very bearish.
Long term it is in phase 3, downtrending. A solid base of support needs to be established, which will take time. Overall, very bearish.
This post was edited on 9/8/14 at 10:47 pm
Posted on 9/9/14 at 2:23 am to vuvuzela
quote:
EXXI owns 7 of 11 largest conventional fields in the gulf.
Please list these fields and their remaining recoverable resource. Bc I dont buy that for one second.
Posted on 9/9/14 at 6:57 am to lsugradman
quote:Check their slideshows online. If they ditch the deep gas I would load up on the stock tomorrow.
Please list these fields and their remaining recoverable resource. Bc I dont buy that for one second.
This post was edited on 9/9/14 at 7:12 am
Posted on 9/9/14 at 7:17 am to Bayou Tiger
We could check this thread in another year.
Posted on 9/9/14 at 9:19 am to lsugradman
Posted on 9/9/14 at 10:43 am to sneakytiger
quote:
They are one of the largest operators, if not the largest in the GOM these days
On the shelf.
Posted on 9/9/14 at 1:24 pm to cwill
Yes.
Posted on 9/9/14 at 3:18 pm to Iowa Golfer
quote:
We could check this thread in another year.
I let you know, got in @ $14.96
Posted on 9/9/14 at 8:18 pm to yellowfin
They bought into alot of old "large" fields on the shelf after the majors dumped them. That doesnt mean there is much oil left in those fields.
And there are some absolute mammoth fields in the deepwater that EXXI is no where around. Those fields are both large and immature.
And there are some absolute mammoth fields in the deepwater that EXXI is no where around. Those fields are both large and immature.
Posted on 9/9/14 at 8:48 pm to lsugradman
I'll check back with you Yellowfin. In the interim, sit back and enjoy the yield. EXXI sin't going anywhere. They'll get bought first. I think we'll see some pain before gain, but I'm betting significant gain.
Posted on 9/10/14 at 8:59 am to Iowa Golfer
Still dropping like a rock
Posted on 9/10/14 at 9:31 am to sneakytiger
In the last 6 months EXXI insiders have sold 22% of their holdings in the company. Shares sold by insiders is more than 20X the purchases by insiders.
That indicates to me the company's insiders don't believe someone is going to buy the company anytime soon.
That indicates to me the company's insiders don't believe someone is going to buy the company anytime soon.
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