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"Transocean Ltd. (NYSE: RIG) today announced contract fixtures for two of its harsh environment semisubmersibles. Together, the fixtures represent approximately $113 million in firm contract backlog."
If they can minimize the loss or punch through to a small profit it will be off to the races
People are hedging in anticipation of a rise in price per barrel
"Oil’s Low Prices Draw Rash Of Hedging"
https://oilprice.com/Latest-Energy-News/World-News/Oils-Low-Prices-Draw-Rash-Of-Hedging.html
Chief Legal officer was just on CNBC. He said (and I'm paraphrasing) There is no guidance from the SEC on which instruments can be traded on the exchange. So it is up to Coinbase to do their own work to determine which ones are legitimate and the SEC is taking issue with that. He said they welcome the legal review/process. He also said they rejected over 90 proposed entrants.
The only answer you will get in 2 months is that thing have been postponed for another 6 months. We have been calling for some indication of where we are and where we are going for a year (a business plan). All we get is vapid techno speak, insults or moronic calls for patience. At this point the only rational move is to determine the maximum tax benefit obtainable from the write off.
"US Tiger Securities Upgrades Coinbase Global to Buy From Hold, Price"
"Is Chinese Demand Growth Now The Only Bullish Driver For Crude?"
https://oilprice.com/Energy/Crude-Oil/Is-Chinese-Demand-Growth-Now-The-Only-Bullish-Driver-For-Crude.html
commodities have taken it on the chin all month.
https://tradingeconomics.com/commodities
Maybe having a non-jury trial will speed thing up "a Little".
In an unrelated development.
That is an indicator of the overall oil market.
"Berkshire Hathaway Boosts Its Stake In Occidental Petroleum To Over 23%"
https://oilprice.com/Latest-Energy-News/World-News/Berkshire-Hathaway-Boosts-Its-Stake-In-Occidental-Petroleum-To-Over-23.html
05/05/2023 at 09:30 AM in Department 39 at 111 North Hill Street, Los Angeles, CA 90012
Final Status Conference
05/16/2023 at 09:30 AM in Department 39 at 111 North Hill Street, Los Angeles, CA 90012
Non-Jury Trial
WTI and Brent North Sea both down $4. Interest rates are doing their damage.
RIG may have been wise to restructure some of their debt last year.
"Oil Prices Crash Below $70 As Credit Suisse Shares Tumble"
https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Crash-Below-70-As-Credit-Suisse-Shares-Tumble.html
you're right, there is no reason why they can't do more than one thing at a time.
"There's no reason they can't do things in parallel"
BTC at 26.2K in the spot market
Well, we are a couple of weeks away from the close of the quarter. Hopefully we will see an indication of a very strong year.
BTC is on fire today up 18% in the spot market
"Additionally, Marathon continues to hold over 11,000 bitcoin, which the Company believes provides it financial optionality that extends beyond the traditional banking system."
11K is up 18%
BTC @23.5 in the spot market up 14.5%
I have been viewing this as a 10-dollar stock for some time. So, it's nice to see this.
One of Dodd/Frank's authors is.
Barney Frank
DIRECTOR, SIGNATURE BANK
https://investor.signatureny.com/governance/board-of-directors/default.aspx
"Two Sigma Investments LP Increases Its Holdings in Transocean Ltd. (NYSE:RIG)"
https://beststocks.com/two-sigma-investments-lp-increases-its-holdings-in/
As of 3/11 Barrons only references:
"Roku (ROKU) and cryptocurrency firm Circle Internet Financial also revealed Friday that they had significant exposure to SVB. Roku said that it held approximately $487 million, or 26% of its cash and equivalents at the bank as of March 10. Circle, issuer of the second-largest stablecoin, USDC, said $3.3 billion of the token’s $40 billion in reserves were at the bank.
Cryptocurrency company BlockFi has $227 million invested in a money market mutual fund offered by SVB, according to the U.S. Department of Justice. Mutual funds aren’t insured by the FDIC. BlockFi had filed for bankruptcy protection last year as a result of collateral damage caused by the failure of the former cryptocurrency exchange FTX."
In term of crypto exposure
It will be interesting to see what is happening with rig utilization and day rates as we close out the quarter.
" The offshore oil and gas (O&G) sector is set for the highest growth in a decade in the next two years, with $214 billion of new project investments lined up. Rystad Energy research shows that annual greenfield capital expenditure (capex) will break the $100 billion threshold in 2023 and in 2024 – the first breach for two straight years since 2012 and 2013."
https://oilprice.com/Energy/Crude-Oil/Offshore-Oil-And-Gas-Is-Back-With-More-Than-200-Billion-In-New-Investment.html
AT LAST. new 52 week high 7.74
Close to new 52 week high
Yep, they're going to have a trial on the 8th and then have this:
03/15/2023 at 08:30 AM in Department 39 at 111 North Hill Street, Los Angeles, CA 90012
Order to Show Cause Re: Why the Court should strike Defendant's jury demand and order this case to proceed as a bench trial.
SOS since 5/2019
you are a DA
Time to lose the MONOMANIA with respect to lawsuits and act like a real company.
These guys need to put together a business plan to move forward, get relisted and generate income. Stop dicking around with these suits or just throw in the towel.
Sometimes you can just predict the outcomes. Another delay. No trial on the eighth.
03/15/2023 at 08:30 AM in Department 39 at 111 North Hill Street, Los Angeles, CA 90012
Order to Show Cause Re: Why the Court should strike Defendant's jury demand and order this case to proceed as a bench trial
Another hearing to settle issues that were supposed to be settled yesterday.
Currently at 7.41 with 52 week high at 7.69.
"The Chinese manufacturing purchasing managers’ index (PMI) jumped to 52.6 in February from 50.1 in January, data from China’s National Bureau of Statistics showed on Wednesday. The surge in factory activity was the fastest in over a decade—the highest figure since April 2012."
The Put to call ratio for 3/3 thru 3/31 as of 2/28 ranges from .20 to .28.
There are a few issues to be decided on 3/1. So maybe that's when the fireworks start.
"Oil prices could hit the $90-$100 per barrel range in the second half of this year as global demand is set to reach record levels amid constrained supply, Russell Hardy, CEO at the world’s largest independent oil trader, Vitol Group, told Bloomberg Television on Monday."
02/22/2023 Notice of Posting of Jury Fees
Filed by VERTICAL COMPUTER SYSTEMS, a Delaware Corporation (Defendant)
I assume this (along with jury instructions 2/9/2023) means VCSY wants a jury trial.
" The prospect of a reactivation is very topical as all of our drillships that are not warm or cold stacked currently contracted. Active drillship utilization is expected to remain at or above 97% for the next two years, with active utilization of the highest specification assets at or near 100%. We expect that the demand for our rigs and services will remain elevated for the foreseeable future.
In fact, if current tendering and bid opportunities that we're aware of for work starting in 2024 and 2025 develop as expected, demand cannot be met by the current active supply of drillships. Having said that, we would absolutely firm our position that we will not reactivate a rig unless our customers, through a combination of mobilization fees, day rate, and term, pay for the entire reactivation, plus an acceptable return in the initial contract. Rig demand [Inaudible] environment is robust. Indeed, over the next 18 months, an estimated 82 programs are anticipated to be awarded for a total of 74 rig years of work.:
https://www.fool.com/earnings/call-transcripts/2023/02/22/transocean-rig-q4-2022-earnings-call-transcript/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article
"Under an amendment of the Lakeshore Note and the Loan Agreement executed on January 31, 2013, Vertical was obligated to transfer 25% of its ownership interest in NOW Solutions in the event certain principal payments were not timely made to Lakeshore. When the last forbearance agreement with Lakeshore expired, Lakeshore became a 25% minority owner of NOW Solutions on October 1, 2013"
https://www.sec.gov/Archives/edgar/data/1099509/000161577418008428/s112021_10q.htm
If the start date for SOL is 10/1/2013 Lakeshore may be too late (They filed 5/2019)
This apparently is a problem for Lakeshore/Farias or else there would not be a motion to exclude. I wonder what date starts the 4-year clock running.
not to mention the 150-160 million to GSR