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re: Oil stocks...are you buying?
Posted on 1/13/16 at 8:28 am to Bayou Tiger
Posted on 1/13/16 at 8:28 am to Bayou Tiger
In all honesty I see no reason to own shale oil companies in this market at all. Owning them is basically a long play on oil prices going back up above $55-$70 depending on what acreage each company owns in each play. It seems to me that if one wants to make a bet on long oil prices there are better ways to do it than through names like EOG, CXO, PXD, APC, etc. These guys are all bleeding money below at least $50 per barrel if not higher and carry huge debt loads. Owning the integrated majors looking for a turnaround seems a much better strategy.
This post was edited on 1/13/16 at 8:29 am
1
Posted on 1/13/16 at 8:35 am to TigerDog83
quote:
I see no reason to own shale oil companies in this market at all. Owning them is basically a long play on oil prices going back up above $55-$70 depending on what acreage each company owns in each play. It seems to me that if one wants to make a bet on long oil prices there are better ways to do it than through names like EOG, CXO, PXD, APC, etc.
Agree completely as most of the shale companies are smaller. Now is the time to by majors, if one is buying energy IMO.
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