Abraxas Petroleum Corp (fka AXAS)

[tdeck]

NP, actually just started paying attention to the wires yesterday while doing DD on a couple other things.

Oil bears have had a good run but that clock is ticking.

Faulty drilling indicator belies oil market that's tighter than assumed - WSJ
https://seekingalpha.com/news/3521433-faulty-drilling-indicator-belies-oil-market-tighter-assumed-wsj

Crude Oil Reversal Higher Points To $62 Price Target
https://www.seeitmarket.com/crude-oil-reversal-higher-points-to-62-price-target/

Oil settles at 2-month high, buoyed by talk of potential extension of OPEC output cuts
https://www.marketwatch.com/story/oil-buoyed-on-talk-of-potential-extension-to-opec-output-cuts-2019-11-21

California now Colorado helping out oil prices going forward passing laws as fast as their leftist governors can sign them

First round of major oil-gas rules up for adoption in Colorado focus on underground network of flow lines
https://www.coloradohometownweekly.com/2019/11/21/colorado-mulls-new-oil-gas-line-rules/

California Intensifies Fossil Fuel Fight With New Drilling Ban
https://www.ttnews.com/articles/california-intensifies-fossil-fuel-fight-new-drilling-ban

The writing is on the wall shorty, deny it, ignore it, whatever doesn't matter it will be what it will be not going to be such a worm and fuzzy winter for you oil bears. Even the WSJ pointing out that 1000's of DUCs that cost an exorbitant amount to finish compared to drilling where oil traders think all this $$ will come from to do the work is beyond me.

Absolutely no indicators for lower oil going forward, now we just need those nuts in the gulf to stir up some shit then we shall have the perfect storm. IMHO they know it already, market always likes to be "surprised" things were "unforeseen" when the truth is it was a $$ hustle the entire time, Stevie Wonder can see higher oil going forward.

This one, IMHO is a great add as they are sorted out with new financing deal and higher oil is just thing the thing that is needed to literally turn it 180 degrees, this one is luckier than most smaller drillers/producers.

They didn't go heavy with crazy billion dollar debt loads theirs is manageable with assets still far exceeding the debt and with higher oil going forward they can right the ship in no time, excellent add/catch on shorty dip catches IMHO.

Peace out.