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The trading symbol for the preferred is BBPPQ.
I see that they have been under 1 dollar for around 8 months. Not worried about a RS? Haven't done much DD on this other than looking at the chart.
Can anyone tell me what the preferred are trading at or what the new ticker is. BBEPP is not showing any activity. TIA
1:10 RS this morning. NETE
I never implied that the company was going to move on with a chapter 7. I merely pointed out that the 11 doesn't automatically equal a wipe out of commons, however, a lot of companies wind up falling into the 7. Will BBEP? I don't think so, but it is pure speculation.
That's exactly how I see it too.
As I pointed out, HERO is a perfect example of what can happen if the company gives a sh**. They are in the same sector.
This will probably trade sideways for quite sometime. You make get a bounce or two along the way due to the shorts covering but not much else. The only thing that will move this now is for the company to successfully emerge from the chapter 11. I wouldn't be surprised to see it down in the 3's before that happens, if it happens.
Can't really blame them. The company hasn't given any reason to trust them, none!
As long as this doesn't evolve into a chapter 7 bk, BBEP could come out of this in pretty good shape. Just look at HERO and how they emerged from a chapter 11. They were in a debtor in possession and emerged in November 2015 after about 6 months in chapter 11. The pps soared to 14. Not saying that will happen here but a chapter 11 isn't the end all that I originally thought it would be.
That does it for the commons and the preferred too I suppose.
Me either. I still have a small position in one but will not be adding to it. Like you said, TO DAMN RISKY.
Going all in, so to speak! Pretty ballsy, but I get it.
Yea, for sure on XCO, I was referring to CFMS.
Man, how low can she go!!
This latest dumpathon could be attributed to a knee jerk reaction to what LINN just did. The ripple effect.
WOW. CFMS down over 40% in pm. They had a better than expected Q1 but said they are replacing the CEO.
They haven't filed for chapter 11 yet.
I don't think so. She's free falling.
Nice! Good trade!
Yes, and the 1-10 RS will take effect on the 18th. I new it was close.
Watching SOL here. Could make a double bottom at 1.18 and RSI is around 30. Definitely worth a look.
How long before DUST pulls a RS is the question. I thought it was going to be towards the end of the first quarter.
I sure wish you the best in this, but this stock is one of the most disappointing in the sector at this time. Saw lots of small reversals the last couple of days, like VNR, but not this one.
Very sorry for your loss AF. My thoughts and prayers are with you and your family.
What's up with the oil companies? Crude is the highest it has been in months and oil companies are flat or down. BBEP went to 1.24 before oil hit 38. Oil now over 40 and it can't even break and hold .90.
It was NXOI, formally Next One Interactive.
GWPH!!! And the government has stated all along that MJ should be a class two narcotic because of no medicinal qualities. This should shut them up and give a boost to the MJ cause!
Just as long as the company doesn't pull a URRE and split this. That is my one of my concern with this ticker.
Have that gap around .77 which could get filled. Nothing surprises me with this ticker. When others go up this one is flat or goes down. This ticker is bi-polar. It should be closing in on 1.85 but we may need to see 45 per barrel for that to happen. She hit 1.20 yesterday as oil hit 38. Now oil is over 38 and BBEP can't seem to get out of her own way. With the bullish sentiment in oil right now I can't believe the shorts are doing this. Just need to relax and watch the show because you never know with this ticker.
She looks like she's going red. Damn shame.
The selling has been brutal since hitting the hod. There is someone/something holding this back. The other tickers I watch are flying. Hell LINN/LNCO are up big and they have a lot more problems than BBEP. I've said it before and I'll say it again...something is just not right with this company or there is a large entity bailing. Look at the volume today. This should be up over 15% minimum with the amount of volume today.
Nice large blocks hitting the ask this morning. Haven't seen that in a while. Hope it continues.
I have to admit that I did not listen in on the call. The lack of transparency is bothersome and all your questions are valid. This ticker has had me scratching my head for quite sometime but the year end results were better than I anticipated. It really comes down to the simple basics...supply/demand. OPEC needs to get off their asses and start regulating or OPEC will be a thing of the past.
This board is really dead. No comments on the year end fins? Looks like everyone jumped ship. When the divy was being paid everyone had something to say. Little different now.
I've been pretty hard on this stock but the fins were better than I anticipated. BBEP's debt is not near as bad as a lot of the others. They actually raised their 4th Q 2015 EBITDA to 169 million, which is 8.2% higher than the 3rd Q.
The US drill rig count is now at 400. That's the lowest it has been in several years. US shale producers are hurting and some will not be able to hold out, or they will have to sell large assets just to pay interest. US production has been dropping which should start to show up in a few months. These cuts are not going to greatly affect the overall oil glut, but this, along with production freezes from other producers, will make a difference.
Saudi talks the big talk but they are hurting too. Russia is feeling it also. The pressure is on OPEC to stabilize the price and I think they will. Russia and Venezuela are both pushing pretty hard for an agreement to be signed off on. Saudi can produce a barrel for around 2 dollars a barrel, but their economy is almost totally based on oil revenue. They are burning through the majority of their cash reserves. You can only cut off just so much of your nose to spite your face.
My bad, they are due out on the 26th.
By restructure I assume you mean BK. They are still paying the divy for their preferred, so I hope that they aren't burning through their cash to do it. The debt should be the priority at this point. We will find out soon enough after the fins come out on the 29th.
Looking at the 3 month daily, this is a triple bottom. Trips can go either way. Any opinions on the 4th quarter fins coming out on the 29th? Got a feeling that this will hit the mid .30's. Lots of oil companies are having to resort to selling large assets just to pay down debt. Look what happened to GST after reporting that they sold a large asset holding. Would love to see BBEP report something positive, but I can't see anything positive with the current over production problem facing the oil industry.
Production, or the over production is whats killing oil. The API report came out this afternoon and showed a 7.1 million barrel build is US inventories. It was expected to be around 3 million. Oil looks to be headed back to the mid 20's.