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TRCH says the transactions will provide liquidity for its projects and provide exposure to the Delaware Basin.
TRCH will own a 10.72% working interest in a stacked 640-acre block that would allow for the drilling of 10K-ft. laterals in exchange for issuing McCabe a $3.25M interest-only promissory note and 2.5M common shares.
$TRCH is sharply lower after announcing a series of deals involving board chairman Greg McCabe and a privately held E&P company to acquire acreage in the Wolfbone play of the Delaware Basin in Texas.
SD CEO James Bennett says the acquisition enhances the company's existing portfolio by adding an inventory of drill-ready locations in Colorado's DJ Basin and is highly complementary to its existing North Park, Northwest STACK and Mississippian assets.
The deal values BCEI at $36/share, consisting of $19.20 in cash and $16.80 of SD shares for each BCEI share, representing a 17.4% premium to BCEI's closing price yesterday.
SandRidge Energy (NYSE:SD) and Bonanza Creek Energy (NYSE:BCEI) confirm their merger agreement, reported earlier by WSJ; shares are halted.
“Strong profitability continues to encourage refiners to keep running hard, with refining activity materially higher than both last week and year-ago levels,” says CliperData's Matt Smith; refinery utilization stood at 91% of capacity in the latest week, up from 89.6% a week earlier.
“Overall, the EIA report is somewhat supportive because it was not as bearish as the previous API report last night,” says Phil Flynn at Price Futures Group in Chicago.
U.S. crude oil fell for the fourth straight session after the EIA reported a surprise rise in crude and gasoline inventories, but a rise in refining runs and a drawdown in distillates helped prices bounce off session lows; WTI settled -0.7% at a two-week low $55.33/bbl, while Brent finished -0.6% at $61.87/bbl.
All read as positive steps the company is making to turn around. What will be the catalyst here for true price appreciation in your opinion?
Thanks for the heads up.
Utilizing management's 2018 EPS guidance range of $1.00 to $1.07 gives us an EPS Dividend Payout ratio range of 44.86% to 48% for 2018, which also looks manageable.
With only $3B in Free Cash Flow for 2017, GE's problem with paying $.96 is very obvious - an unsustainably high FCF payout ratio of 279%. Doubling the FCF in 2018, to $6B, and halving the total payout to just $.48 will bring it to a much more manageable FCF payout ratio of ~70%.
Did they announce a split? Doubt it is needed in this case.
$FCX Freeport-McMoRan shares have found themselves under significant pressure in recent rates. After trading in a $13.80 to $15.50 range for many days, Freeport-McMoRan shares dived below the key support level at $13.80. I believe that the sell-off is unjustified.
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 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.
CME - Can Bitcoin Change The Prospects For The Exchange Giant? $COIN
http://www.seekingalpha.com/article/4125680
PrimeEnergy (NASDAQ:PNRG): Q3 EPS of -$1.22
Revenue of $17.18M (+4.1% Y/Y)
Quest Solution (OTCQB:QUES): Q3 EPS of -$0.03
Revenue of $12.96M (-4.4% Y/Y)
Solid feedback. I’m still getting schooled in technical trading so appreciate you sharing.
The value proposition is strong here.
This week, the IEA said that U.S. shale would dominate the oil and gas markets over the next decade, rising to “a level 50 percent higher than any other country has ever managed.” With a “remarkable ability to unlock new resources cost-effectively,” U.S. shale will add millions of barrels of new oil supply by 2025.
HP says its U.S. Land segment recorded a $4.2M operating loss in the quarter vs. a $69.7M loss in the year-ago period, its U.S. Land market share rose to 20% from 15% a year ago, and revenue days rose ~6% Q/Q.
For FY 2018, HP forecasts capex of $250M-$300M.
HP says FY 2017 saw "the largest ramp up of U.S. land rig activity in the company's history," closing the year with 197 rigs running compared with 95 rigs at the start of the year.
$HP is higher after posting a smaller than expected FQ4 loss and a 60% Y/Y increase in revenues, also better than expected.
Trading at 17.6 times next year's earnings General Electric is not especially cheap either, but due to currently being in the midst of a repositioning that should lead to much improved results in a couple of years, that valuation is not very high either -- and investors who buy around $18 still get a 2.6% dividend yield which obviously is a lot less than what they would have gotten before the dividend cut, but which is still a better yield than what investors can get from GE's peer 3M Company (MMM), which pays a dividend yielding just 2.1% right now.
General Electric, which currently trades around $18 per share and which has a market capitalization of $158 billion, expects next year's earnings per share to come in at $1.04 and expects free cash flows of $7 billion.
General Electric's relatively new CEO John Flannery seeks to reposition the company around three main pillars: Aviation, power and health-care. Such a move was not surprising, and yet it shows that management has learned from past mistakes: Empire-building and being active in too many fields has made General Electric too complicated, too bureaucratic and too inefficient -- cutting down the behemoth to a size that is better manageable (and focusing on the most attractive markets whilst doing so) is an opportune strategy.
Many reasons to sell. Only one reason to buy.
General Electric has a rather low institutional ownership percentage (61%) compared to the broad market (80% of the S&P 500 index are owned by institutionals). That means that General Electric has an unusually high portion of retail investors, and it seems quite likely that a big portion of those have been holding the company's shares for the income they have been generating -- after all General Electric was trading with a dividend yield of well above four percent recently.
Hopefully it won’t see their value drop too much and they can formulate a plan to rebuild.
There seems like a rebalancing trend to be continuing to create higher lows and higher highs.
The total U.S. active rig count rose by 8 to 915 in the latest Baker Hguhes weekly survey, its second straight increase following eight declines out of the previous nine weeks.
The oil rig count was unchanged at 738, while gas rigs rose by 8 to 177 to account for the entire increase in the overall count.
Where do you think chart tops out?
Good read. It was only a matter of time til the low oil price begins to crack the royal family. Going to be see where it goes from here.
I would agree it’s attractive for potential M&A. Just last week, the NYSE warned CIE that shares had dropped below its $50M minimum market cap threshold.
The exchange says CIE’s 30-day average closing price as of Nov. 13 was $0.95, violating its listing standard which requires the trailing 30-day average closing share price to remain at or above $1/share.
Cobalt International Energy (CIE -2.6%) tumbles to a new low of $0.36/share after receiving another continued listing standard notice from the NYSE.
$FPP - The NYSE American exchange says it has launched proceedings to delist Fieldpoint Petroleum (FPP -4.6%) after the shares fell below its quantitative continued listing requirements.
The exchange says FPP failed to regain compliance within the maximum permitted 18-month compliance plan period.