At work
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Well you have people selling 10K below the bid, someone trying to walk her down.
Maybe the whole market will have a decent day, most Energy stocks are showing a positive pre market trend...
From the looks of it yes, just hope it isn't a short lived one like we had almost every day last week. On the other hand it is a good opportunity to make some profit, and buy back in lower.
Oh we will find the bottom for sure, but i am afraid the bottom will be to deep for many....
Yep that's smart, because it is going to get worse before it gets better. Hell i most likely won't have a job here in a few months the way it's going, so i might as well make something good out of all this bad.
Yeah honestly with as crappy as the market is right now we could do this all day long haha. Good news is that everyone with funds has a good shot to make a lot of money in the future through all these O&G companies.
I will throw you one i am watching closely, as i feel they can survive the crappy market, and will make a huge comeback when oil trends upwards. (OAS)
And of course SDOC ;)
Yep i agree, we will see lower lows, before oil bounces. Just make sure your in before that. Good Luck.
I have a lot of $$$ in about 4 different companies that are suffering right now. When oil bounces (and it will) there will be lots of money to be made. Happened in 08, lots of money was made on the bounce, it will happen again.
Yep, it will take 3-8 months for oil prices to finally level out. Regardless of what papers/articles say i see it getting back to around $50.00 a barrel and hanging around that price into 2018.
Yeah thanks for the Breaking news.....Oil is my life.....
CHK has sucked since they kicked out Aubrey Mclendon, and hired the joke of a CEO they have now. I worked for CHK for nearly 5 (3 while Aubrey was CEO) years until they begin finding BS ways to fire people so they did not have to vest our stocks, and we lost a percentage of our 401K. I lost about 60K, add the new crappy CEO along with Oil prices, and it's easy to see why CHK has fallen so badly.
If oil continues same trend expect to see 2-3 other current NYSE shales go OTC. CHK and XTO to name a few. You act like SDOC went to the OTC just because they suck or something. The performance of all energy stocks shows how bad it truly is. SDOC will shoot back up as will damn near all energy stocks once oil begins to rise.
It already delisted from the NYSE, it is now OTC. It fell to .02.
Never know, i have a guy who has been buying 50-60$ worth at a time.....he's an idiot.
I think better financial companies know it will get worse, and they will eventually get whatever they want cheaper than they can now.
Was possibly me ;)
Yep i agree. CHK, XCO look to be on their way....
You can bet many more will join them here in the OTC before it's all said and done if we continue on the trend.
No i mean that's what girlfriend meant when she said she hopes the Fat lady doesn't sing.
You want SDOC to file for Bankruptcy ? Or close the doors all together, i'm sure that's what she means.
Energy sector bleeding today, red everywhere.....
Honestly, i am like you i think that pumping will do no good for a company this size, BUT i also feel bashing will do no good for a company this size. I feel it works both ways TBH.
Nothing wrong with telling the truth, but there is something wrong with guys like the one yesterday saying that current oil prices and the current state of the US Shale industry had nothing to do with the fall of PPS in SDOC.
Yeah re posting old news does get old, but i guess it's no different from Al Bundy talking about the glory days when nothing new and exciting is going on.
Here is the problem, America has it's own oil Reserves. When the Price per barrel of oil is dirt cheap we do not dip into our reserves, when our reserves stack up US Shale companies slow down on drilling. With Oil averaging around 30.00 a barrel we are not touching our reserves. Let me show you just how bad the Rig count is, this is not just a little drop.
United States
ON SHORE
01/2015 - 1,750 ACTIVE RIGS
01/2016 - 664 ACTIVE RIGS
OFF SHORE
01/2015 - 54
01/2017 - 27
I mean this is a 60% loss we are looking at. If anything with all the new shale plays our drilling count should of risen from 1,750 since last year. BUT the cheap ass OPEC oil is killing the US energy sector.
Considering the rig count in the US has been cut by 75%, which means less drilling, which means less new production for companies such as SDOC I would say OPEC flooding the market has everything to do with the drop in PPS. If a company can't profit due to no demand in the US markets of course companies debt is going to grow and they will be put in a financial bind.
For example my companies profit has dropped 60%, and we have had to cut half our employees to keep the doors open. When oil was 100$ a barrel us and every US based company was growing and profiting.
What you claim makes zero sense, the market and companies profit go hand and hand.
Damn near every shale company is down 40-50%. To say the price of oil has nothing to do with SDOC share price is absurd. All shale companies are running on fumes and losing money right now. The fact that the PPS got so low and it delis Ted is why it's trading at .06.
CHK averaged 30.00 - now 3.00
APC averaged 80.00 - now 35.00
There are many more suffering just as bad. OPEC and the oil prices are about 95% of the reason for drop in PPS. To think otherwise is foolish.
Yeah now is the time to buy for sure. Cause it is really bad, but everyone knows it won't stay this way. Take CHK for example, i used to work with them. That was generally a 20.00-30.00 dollar stock, now it is around 3.00 per share.
APC went from 80.00-90.00 dollar stock to 35.00.
People don't realize how truly bad it has been, that's why everyone is over reacting about the SDOC delist.
All oil companies feeling it man, i worked in Barnett Shale (Ft Worth) for 4 years, and Eagleford (Carrizo Springs) for 5 years. Trust me man everyone is suffering right now. Pretty much everyone i know has been laid off, i'm one of the last few still working.
I'm not saying it will ever get back to where it was before, nor do i need it to. Many here would make out REALLY WELL with .20+ hell i would with 14+. We are all here to make money.
Would make no sense, if it was going to of been done it would of been before the .15 delist.
Smart....i no longer have time in the day to day trade. But now is def a good time as far as the energy sector goes.
YAWN 3 days ago SDOC gained 200% while virtually all other Shell stocks dropped. Who cares what happens in one day is my point unless your day trading, which in that case i agree with you. And those gains today will be short lived, trust me.
Cause the Company hasn't given up, nor should they. All Shell companies such as SDOC are suffering right now. There will be a light at the end of the tunnel.
Smart move, i have some more change i am going to throw in the pot as well. Going to wait to see where the price of oil is going towards the end of this week, start of next.
Smart investors know right now is the time to buy in MOST Oil Company stocks, as all have taken a massive hit in PPS. But as seen time and time again this slump in the US Oil will not last.
Well unless your OPEC supply and Demand usually go hand in hand....
Here's the deal with well cost. For example i worked in the Eagleford Shale (South Texas) when it first kicked off. Average depth per well there was around 15,000 Ft (2.5 weeks of drilling on average) The average cost there was between 4-5 Million. Eagleford has basically died out (FOR NOW). You have other shales which depending on the Shale pocket can range from 15,000-30,000 depth. Obviously the deeper you drill the more it costs.
The wells will not get shut down, look at the whole fracking/contaminated water issue a few years back. The oil industry has huge pockets and expensive lawyers. I wouldn't concern yourself with any lawsuits.
Here is what you are missing as far as US shell Companies go. I will educate you a little.
To drill one well in the US before production costs
6-8 Million Just to Drill (depending on depth, complications, labor) I have seen one well cost over 20 million. (This is assuming they even hit the shell) 4-8 week process depending on region.
1-2 million Post Drilling (Fracking, Closing in the well) 4-6 week process.
This is not including the money cost to lease the land for the well, Trucking to move the drilling rig to the well. A lot more variables go into it than just these.
For a majority of US Shell companies such as CHK, SD, EXCO, APC etc to break even from land drilling you need oil to be around 60-70 a barrel. To begin to see any kind of noticeable profits you need no less than $80.00 a barrel.
The problem is that OPEC does not care if they are losing money, which at this point they are. The price of oil is based on demand. When OPEC is flooding the market with cheap oil (as we are seeing now) the demand for US oil is very very low, and people who fill their pockets know that US companies can not profit when it is as such.
I hope this helped you gain some insight as to why all US shell companies are suffering regardless of the strength of the US Dollar besides what you have read in some article.
Pretty much ever oilfield worker did in 08-09 it was rough. No biggy, that's why i am administrative now. One of the last ones to go now.