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MMP’s proposal, which was first filed a year ago, said its marketing affiliate would benefit the company and pipeline shippers by increasing usage of underutilized pipeline capacity as well as provide flexibility for producers and marketers and increase access to pipelines.
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Magellan Midstream Partners' (NYSE:MMP) proposal to establish a marketing affiliate to buy, sell and ship crude oil is denied by the Federal Energy Regulatory Commission.
The Kinder (Morgan) Surprise: The 'Toy' Is An Arbitrage $KMI
http://www.seekingalpha.com/article/4127409
$RDS.A - In my view, with oil supply and demand coming into balance, Shell is strongly positioned with its Deep Water portfolio to take advantage of the higher prices that will follow. Investors will be rewarded with both price appreciation in their stock and the stellar dividends paid.
Shell is convinced the world needs Deep Water oil and gas and has developed an impressive array of projects and prospects to ensure a steady supply. In fact, Shell's CEO Ben Van Beurden said as much in an interview recently. The company currently produces about 700K-BPOD from Deep Water sources globally and expects to ramp that up to above 950K-BPOD by 2020.
$RDS.A - Shell is convinced the world needs Deep Water oil and gas and has developed an impressive array of projects and prospects to ensure a steady supply. In fact, Shell's CEO Ben Van Beurden said as much in an interview recently. The company currently produces about 700K-BPOD from Deep Water sources globally and expects to ramp that up to above 950K-BPOD by 2020.
Right good point. I thought they said they are filing everything direct to SEC. If so do they need to still file with OTC?
The rise in crude oil prices is "a real sign that demand for oil is strong, we can have confidence in demand growing,” Macleod says. "We will be very well positioned when the market recovers."
The company says more than 20% of the global fleet of very large crude carriers could be sent to scrap yards in coming years as their age and inefficient fuel consumption make them obsolete.
CEO Robert Hvide Macleod says FRO expects the global market for crude oil tankers to remain weak until H2 2018, and believes the market for crude carriers remains too fragmented and needs consolidation.
Frontline (FRO -1.9%) is lower after posting a larger than expected Q3 net loss as tanker rates hit four-hit lows during the quarter.
RedHawk Holdings (OTCQB:IDNG): Q1 Net loss of $55.46K
Revenue of $67.89K (-86.4% Y/Y)
TransCanada (NYSE:TRP) is “cautiously optimistic” about prospects for construction of its Keystone XL pipeline despite the denial of its preferred route through Nebraska, Alberta Premier Notley says in the first indication of the company’s possible stance following Monday’s announcement.
$CL_F - Crude prices are little changed as uncertainty weighs in ahead of next week's meeting between OPEC and Russia in Vienna.
So far their output cut agreement has been seen as a factor in stabilizing the oil market, but Russia's oil companies have been complaining loudly because higher crude prices have helped the U.S. shale industry ramp up production.
Crude futures flat at $58.02/bbl.
$UWT - Crude prices are little changed as uncertainty weighs in ahead of next week's meeting between OPEC and Russia in Vienna.
So far their output cut agreement has been seen as a factor in stabilizing the oil market, but Russia's oil companies have been complaining loudly because higher crude prices have helped the U.S. shale industry ramp up production.
Crude futures flat at $58.02/bbl.
$COP - The biggest achievement of ConocoPhillips has been its reduction in costs and debt, while increasing margins with the selling off of low-margin businesses.
This has positioned to better weather most oil price environment it faces.
Now that it's close to completing this stage of its business plan, it is focusing on increasing production and generating more cash flow.
On a positive note, the company not only has already met its goal of selling off up to $8 billion in assets, but it appears it's going to double it by the end of 2017.
The big sale was the $13.3 billion deal it made with Cenovus Energy (CVE) for several of its oil and gas properties located in Canada.
Approximately a year ago the company had a goal of selling off from $5 billion to $8 billion in assets over the next 3 years to boost shareholder value.
The purpose was to acquire $3 billion in stock and allocate most of the remaining proceeds to paying down its hefty debt load.
Right QB is next step. My curiosity is due to the bank saying that is their plan and they have history if multiple NASDAQ listings in their portfolio.
Appreciate the share. Will see what I can find out. Would be nice to know if an up-list can happen right away or over the next year.
I think this newly structured company has a good opportunity to advance growth now. Icahn has made some bad bets in this energy market but this one is likely a good call. I’m adding here.
I expect that Freeport-McMoRan's shares will soon be able to return to the previous trading range.
I see no fundamental catalysts for further downside, although momentum players might try to play the breakout of the $13.80 support level and put pressure on the stock in the next several days.
The fate of Grasberg remains the main catalyst for Freeport-McMoRan and there is no change on this front. Negotiations will likely continue until the very end of 2017 and might even be dragged into 2018.
Meanwhile, Freeport-McMoRan will continue to enjoy healthy cash flows from this low-cost mine.
I think there are reasons to be bullish on gold in light of the recession potential next few years.
Liquidity is a bigger question for me. Expected cash interest cost savings are $40 million annually.
Debt is still an issue -- as of Sept. 30, the company had $2.2 billion of short-term debt and $12.6 billion of long-term debt.
However, I expect it to be reduced next year due to strong cash position ($5 billion) and continued strength in operating cash flow.
Appreciate the share of links. I’m investing in an electric car company now as well. I’m familiar with these reports. When I have time I’ll see if I can find the % of total consumption growth. I’m curious now as well.
Oil is definitely finite and there will be more diversity for energy. Challenge is technology and costs need to improve. Right now many of these improvements are heavily supported by subsidies and credits.
That’s a good perspective to have if you are looking to play very risk adversely. It’s likely overly conservative in my perspective. There are deep values in their core businesses and while there is a long time to rebuild here we are likely in the lowest levels we will see although I’m not saying I wouldn’t expect to average down if needed.
More likely a reverse takeover candidate.
It indicated cash and assets of up to $25,000,000 was how I interpreted it. Does anyone know if this is enough to apply to NASDAQ?
Of course there’s something to be said about investing in businesses that need money to grow versus money to stay in business.
That’s true in terms of their outlook. However increasing rig counts means more production so it can be an indicator of which way oil may trade. One of many indicators at that. Bitumen is priced relative to oil.
These look like upstream services. They sold a division they considered non core.
Perspective of course. Yes it’s growing largely from where it’s been but what I didn’t see what actually % of total consumption year over year. Solar hasn’t made much of an impact from what I’ve seen.
That said I am very bullish on renewable energy and invest directly and via equities to this end. But I’m not convinced it’s displacing much.
Carl Icahn has purchased at least 13% of SandRidge Energy Inc., according to people familiar with the matter, joining a list of shareholders who say a deal the oil-and-gas producer struck last week makes little sense.
The stake, Icahn’s first new activist position this year, makes him the biggest holder of SandRidge shares. He had already been buying on the belief they were cheap, but scooped up millions more in the wake of the announcement that SandRidge SD, +5.29% would buy Bonanza Creek Energy Inc. for about $750 million, the people said.
The total U.S. rig count increased by 8 to 923 in the latest Baker Hughes weekly survey for the third consecutive gain following a steady string of declines.
The oil rig count climbed by 9 to 747 after remaining unchanged a week ago, while gas rigs lost one to 176.
The report was issued ahead of the usual Friday release because of the Thanksgiving holiday.
Dont need price increase of gas to make money. But I understand your perspective as an investor. However new demand is picking up though with pipelines to Mexico, LNG, transportation, and moving to gas for power generation. In a way gas is the alternative energy to change over from coal and oil use. Renewables are making strides but very little growth.
I agree, the ticker has nothing to do with it but Network 1 has committed the deal.
Hello friend appreciate the comments. EV certainly plays a role in demand of some of their products. I think there is a solid base of assets here. It’s more a question if / when next super cycle starts up. Watching emerging markets closely on this one.
Looks like progress on the turn around is being made though.
Do you like any other natural gas stocks?
Seems to be holding steady. Next few sessions will tell.
Haven’t made up my mind if this drop has baked in everything or if it can pull back more in following sessions. All in all progress is being made.