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We do not want a huge surge in oil prices. This needs to be a slow steady climb over months and months. If it does jump up to 55 in the next month then things will get way worse a month or 2 afterwards.....trust me.
The last thing you want is for all these money starved American Shale companies to all jump back in the mix all at once, and begin over flooding the oil market again. If that happens it will be bad for everyone including SDOC in the long run.
Honestly it really depends on how the market sees it....I have no idea.
I have been on the boards, check it everyday. Just never post because of all the dumb BS people say when they actually know nothing about the oilfield. Just what they read in articles.
Honestly once oil gets to the 45.00 range and stays at that price for a while we will all see a little more activity from everyone. But IMO for us to see the results we need oil in the 50-60 dollar range.
At this point wouldn't matter, will take at least a month of these prices to see results, but no to answer your question they are not making money at $40.00 oil.
I've called 7 BKs before they have happened.....ewww you're so cool.
ACTUALLY the company has NEVER stated anywhere that they will file bankruptcy. Only ones saying that are the same people who said they would not make their interest payment. Which they did.
My point is at these low oil prices very few wells are profitable right now. Which is the reason the rig count in the last year went from over 1900 down to the 400s.
Haha SDOC has thousands of wells already, what SDOC needs like most is for oil to go back to 50-60 dollars a barrel.
I have been pretty quiet because there is a lot of BS on here. The oilfield is slowly picking back up, I had 3 rigs that were supposed to shut down last week after last well, but instead moved and are drilling new wells that were originally put on hold.
It's slowly getting better.
This is not all legit sells......It's a big dip, but temporary IMO
No....they would be dumb NOT TO CONSIDER IT. The fact is if Oil gets up to 50.00 by September there will be no need to. Companies plan for the worst which is all they are doing.
I read it last night, i feel good about my shares !
Company has done everything right to this point, paid the interest payment, filed their financials. No reason to believe after all that they will allow something like that to happen.
Took you 2 minutes to be wrong...
The low balling bid and ask jumping all over the damn place....
Whew someone is going to try to walk this down hard at the open....
Yep.
Oh and i said .20 by end of the week last night, but i won't lie i was a little drunk when i wrote that. You all know how that goes......
South Texas, you know the "old" Chesapeake yard off of I35 in between Moore and Pearsall, TX ? I worked out of there for 3 + years, place has turned into a ghost town now.
I do...I work with all major oil companies/drillers on a daily basis. I have 4 kids and a wife to support, I don't waste money !
LMAO if u only knew buddy.
Totally agree man !
Sandridge will have 15 rigs drilling new wells every month by the end of the year !
And IMO this will be back above a dollar by 2017. I'm no pumper as most everyone knows, all I know is the oulfield.
I did it from .02 to .11. It was the right time to do so. Now is not.... you had better learn when to buy and sell. Otherwise you'll end up chasing. If there is one thing I know it's the oilfield. If anything you should be buying more.
In case your wondering I work with halliburoton, pioneer, xco, eog, Schlumberger, gyro data, scout down hole, dyno drill, deep gulf, shell, exxon, chesapeake, anadarko and many more. And with all the layoffs I'm still employed. Trust me I know better than you what's going on !
You know what Smilin, I like you and I rarely like anyone on ihub.
I'll tell you this I have worked with Sandridge and they have thousands of wells and acres. So when I hear someone call this company a POS I can't help but laugh.
You have some good posts man. Keep it up.
.20 by end of the week IMO.
Keeps dropping due to some small sells, 1K...3K, and 5K....hmmmm
Yes they can fill your order lower than your order limit. That's why it is called a limit. It's not illegal, and it helps you get a better deal for your buck. Same goes with selling they can sell higher than your sell order.
Would you bitch if you bought a Prius and they gave you a ferrari ?
Does not matter, Saudi, and Russia are pumping out more oil than they ever have. A freeze on uping production will do virtually nothing. The market will still be over flooded with Oil.
If your going to "buy" assets now as a good of time as any, other companies are virtually giving their shit away. It's horrible.....
Honestly i have learned in the oilfield nothing is a guarantee, i have been laid off 2 times because of it in the past. SDOC has a good chance to make an epic comeback, in reality it all depends on the price of oil and the companies ability to start new projects and make a profit. We are getting there, not there yet IMO.
They also said they would not make interest payments. Oil is on the rise in a big way, there is more positive going on here now than in a long time.
Oil at 40.89....It is not down.
Just means they suck less, still any upgrade is better.
I know...i said a PR.
Honestly shocked they didn't put out a PR on the interest payment.
MM trying hard to keep this down.
Yep up 24% premarket to .117, i can dig it.
The interest payment along with oil sitting at 39.00 dollars a barrel is setting this up VERY nicely.
Who knows really. Hell .30 today would be great, but i don't see it. Honestly a close above .15 to me is a win in this unsure market.
Would like to see a close above .15, but who knows we have all seen monster days. This could be one of those days....