hitman1
30 Jan 2015
Bloomberg article explains it better [link] serious than people realise for US companies.
hitman1
29 Jan 2015
WTI $43.93 to Brent $48.71 $4 discount at the moment, so seems to be a glut in the US. . plus figures on US storage are increasing weekly, even though wells numbers are decreasing.. the ones that are left are becoming more productive.US companies will find it harder..... especially since it's all for domestic usage.not sure there will be a shortage in the US for quite a while.. the US industry needs to curtail its production.. in a unified way on a large scale. to protect what's left.. but the ones that have borrowed heavily will go to the wall extremely quickly.. what happened looking after the environment.. ? seems like a free for all in the States, with very high salaries and lots of opportunities over the last few years.. big cuts coming to all the industries that support the oil industry as well in the States.
Bubsy the cat
29 Jan 2015
From Malcy's Blog today Caza An interesting update from Caza that must please Mr el-Badri albeit in a modest way. Caza are in the middle of a highly successful drilling campaign in the Bone Spring play which has resulted in a number of very good well results and a significant increase in production. I mentioned in my last note on Caza that they are in the fortunate position of being able to hold their properties by production and therefore not lose out longer term by shutting in successful wells. Accordingly the company, whilst continuing to produce from some recent discoveries which provide ‘ a good return on investment even at current WTI levels’, can postpone some developments and not ‘lose’ profits for shareholders. Back to Mr el-Badri, he will be pleased to see production coming off but i’m afraid that as soon as the price rises this will come straight back on the market, quelle dilemma…. - See more at: [link]
Rhino1958
29 Jan 2015
Re: NEW ARTICLE: Caza Oil halts Bone Spring ... Sounds like good management decisions at the present time
Bubsy the cat
29 Jan 2015
Proctive Investors A useful summary.[link]
II Editor
29 Jan 2015
NEW ARTICLE: Caza Oil halts Bone Spring development "Oil producer LSE:CAZA:Caza Oil & Gas is the latest victim of the savage plunge in oil prices. Although its prolific Marathon Road and East Marathon Road wells in New Mexico would make money at current prices, the company has decided to stop ..."[link]
indolent
28 Jan 2015
Re: Cheapest oily on the market I can't remember if it was their late King but three or four weeks ago the Saudi's spoke in terms of oil not getting to $100 per barrel again (ever) which seemed a bit of a stretch. Then the other day another of theirs mentioned double that under the circumstances covered by the media. Also, a stretch. An ex boss of Exxon was on China 24 last week where in a throw away comment he said, words to the effect, that statements by the Saudis could see oil up $25 overnight. To me it sounds like the Saudis will regularly be talking to the Americans and Russians in the hope that those counties will participate in supply restraint whilst allowing Saudi to more-or-less maintain their market share for at least half a decade to come. On a cursory look some of the majors have bounced back to some minor degree share price wise but the small caps where working capital funding might be needed remain depressed. I recall that management here have hedged so I guess a lot depends on when the oil price starts to rise usefully again. ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- -------A general oil article - two different views on the price for later in the year. [link]
wahlberg
28 Jan 2015
Re: Cheapest oily on the market Keeping my eye on this, would like to pick some up next month.
RichardLY
27 Jan 2015
Next OPEC Meeting Re: Cheapest oily on the market 5 June 2015 167th (Ordinary) OPEC Meeting Vienna, Austria(Sorry voted up by mistake)
coldascheese
27 Jan 2015
Re: Cheapest oily on the market Next OPEC meeting I believe is in March-so might be a change in strategy then, however Caza still cheap even at today's price with a very large area yet to exploit. With prices however, sometimes you can wait to long and by the time you do something the price is up and away, So I have decided to act early on this one. We will see.
hitman1
27 Jan 2015
Re: Cheapest oily on the market Biggest fear which has now become reality is that Saudi seem intent of keeping prices low for at least 6 mths.. they have even just raised output from 9.5m to to 9.8m bpd according to reports in the Telegraph. ...not so good for US companies/others when an overseas Sovereign state wants to put you out of business. the only thing worse than a duster.
coldascheese
27 Jan 2015
Cheapest oily on the market According to video with Wood Mackenzie on iii video this is too cheap so have bought in today at 5.175. He says that could well be bid for as has a tiddly market cap but great assets even at todays price of oil.So have put 100,000 in the tank as I don't think oil will get any cheaper but should go back up this year.
indolent
16 Jan 2015
Re: To Uni Steve Howzit Uni,I don't like those BUY and SELL labels personally but maybe I would if clever enough to know what direction something was going to go in next a good bit more than 50% of the time. Do you run the numbers or go with trying to figure out herd movements more? You never answer me when I ask so I keep asking. When thirty something dollar oil got in to the media I guessed that the movers and shakers were looking for about forty or a couple of dollars more for a move up. (I had no opinion on whether that would be sustainable and from Main Street perspective I hope it won't be.) But if its already happened then your byt will have been well timed. Indy
uniformtango
15 Jan 2015
Re: Brent Crude AchtungI atotally agree with your well thought out posting. I'm an optimist by nature, and I just think that recovery, especially in companies like Caza who have been producing for some time now, will occur sooner rather than later. Lets wait and see. This is now so massively oversold, that there is only one way for it to go.Steve
Nunquam
29 Nov 2014
very painful
