November 13, 20196 yr 3 hours ago, Johnny Chimpo said: Hahaha. Fair points. I am just dipping in the pinkey toe, couple hundred shares. There must be one last bounce left 😄. I’ve done the “on the verge of bankruptcy” scratch off lottery several times with a $100 or so worth of shares - none have hit so far. But I have a lot of tickers that end in ‘Q’ littering my trading account to show for it.
November 13, 20196 yr 5 hours ago, Dr. Beeper said: You can’t? Lulz. I’ve told y’all for awhile to sell your CHK stock. But had I sold it like you said I would have missed out on this great character building opportunity to watch my investment circle the drain. So there!!!
November 13, 20196 yr I'm inclined to agree. Now, if I could just get this tourniquet a little bit tighter. Besides, I gotta a new tip the other day and I'm goin' balls deep - Edited November 13, 20196 yr by Cajun
November 13, 20196 yr Is Harry Perrin in O&G Houston related to our former Athletic Director, Mike? Yes. Brothers. Harry is a good guy.
November 13, 20196 yr 8 hours ago, Cajun said: But had I sold it like you said I would have missed out on this great character building opportunity to watch my investment circle the drain. So there!!! I call it paying tuition. My problem is I keep taking the same expensive class over and over.
November 13, 20196 yr Quote Leading Haynesville basin producer Comstock Resources is in discussions to buy the Haynesville assets of Chesapeake Energy in Louisiana, Reuters reported on Wednesday, citing people with knowledge of the talks, a week after Chesapeake warned that it may not be able to service its debt if low prices persist. Chesapeake and Comstock Resources of Dallas Cowboys owner Jerry Jones have hammered out a basic structure for the potential deal that could be valued at more than US$1 billion, according to Reuters’ sources. The companies could settle on a deal by the end of this year, the sources said, noting that the talks don’t guarantee that an agreement will be reached. Comstock Resources has been amassing assets in Haynesville in recent months, while Chesapeake Energy warned last week that its ability to comply with the covenants under its revolving credit facilities and other indebtedness could impact its ability to continue as a going concern. In a SEC filing, Chesapeake said that “If continued depressed prices persist, combined with the scheduled reductions in the leverage ratio covenant, our ability to comply with the leverage ratio covenant during the next 12 months will be adversely affected which raises substantial doubt about our ability to continue as a going concern.” Related: The EIA Is Grossly Overestimating U.S. Shale Chesapeake also said that it is slashing its 2020 capital expenditure forecast by around 30 percent, and expects to reduce 2020 production and general and administrative expenses by some 10 percent. The company, which helped propel the shale gas revolution in the late 2000s, said it has released its operated rigs and completion crews in the Haynesville Shale for the rest of the year. After the warning, Chesapeake’s shares tumbled last week and continued to slump through Tuesday, when the stock price dropped to a 25-year-low. Commenting on the market volatility, Chesapeake’s CEO Doug Lawler said in a statementon Tuesday: “We continue to pursue strategic levers to reduce debt, including asset sales, capital markets transactions, and focus on cost discipline.” Comstock Resources, for its part, became in June the Haynesville Basin leader after buyingprivately held natural gas firm Covey Park Energy in a cash and stock deal valued at US$2.2 billion, including the assumption of Covey Park’s outstanding debt. When Jerrah Jones comes to pick the meat left on your bones the fat lady is definitely in play.
November 13, 20196 yr Range Resources closed their Houston office and let a bunch of people go today. The one they inherited when they merged with Memorial back in 2016.
November 14, 20196 yr On 11/12/2019 at 7:16 PM, Dr. Beeper said: Banks would never release collateral for these bonds and these bonds will never get off the ground in a meaningful way. So your imagination is correct. Struggling operators peeling off ORRIs on their leasehold would also be subject to bank liens. And those bank liens extend typically to all properties, even nonproducing leasehold, which should effectively provide no ORRI value to an investor anyway, unless it’s core EFS or Delaware and about to be developed. The WSJ article was presenting an option only available for producers with unencumbered assets. In other words, producers that aren’t already in deep shit with banks, but can’t get meaningful financing as the market is the worst I’ve ever seen it. Given the state of the capital and debt markets, this bond idea seems preposterous. Harrison Williams (former Albrecht head) was pitching this idea on CNBC the other day. He may have been quoted in the article - I only read the preview. The CNBC anchor softly pressed him for how many deals like this had been done. He responded that he’d heard of one, in a very vague manner. He came off very poorly, like he was giving meaningless info. The bloodbath is coming, and there is no financial engineering escape hatch for many of these groups. This is now 5 years in the making and it’s irrespective of commodity prices so long as the strip doesn’t jump back up to $70 flat by year end. I agree with all of that. We, minerals company, have had at least one struggling operator offer to peel off ORRI in the delaware and they were as mortgaged up as possible, we politely declined, so we didn't even get into the due diligence period where we would have figured out how that would have been possible under their credit credit agreement.
November 14, 20196 yr 17 hours ago, Dr. Beeper said: Memorial. Ha. I’m of the opinion there are never any true mergers. Every “merger” has a pitcher and every one has a catcher. Tell them we really need this merger.
November 14, 20196 yr 11 minutes ago, Dr. Beeper said: They seriously could’ve attempted to do it under the banks’ noses and might’ve been successful, but it might’ve cost your firm ultimately in a bankruptcy. I’d be interested to know who it was. If you re-engage with them, for whatever reason, I’d ensure their bank(s)/creditor(s) is/are aware of what they’re doing first. Otherwise it’s a nonstarter for you. Don't worry, it was a non-starter for us and remains that way.
November 14, 20196 yr 18 hours ago, MAUFRAIS said: Are there ever power bottoms? Mainly just power versatiles.
November 22, 20196 yr Anybody familiar with what's going on in Guyana with the new found oil? I have to go down there for work but can't get a hotel. They are booked up everywhere b/c of so many oil conferences for the foreseeable future.
November 22, 20196 yr Biggest discovery in many years. You have to go down there for work that's non oil related? That's rough.
November 22, 20196 yr Is this the International Container Store conference? Thought that was in Guyana.
November 22, 20196 yr 7 hours ago, Bruh Man said: Anybody familiar with what's going on in Guyana with the new found oil? I have to go down there for work but can't get a hotel. They are booked up everywhere b/c of so many oil conferences for the foreseeable future. Reminds me of Pearsall back in 2014 when I ponied up for a dove lease down there. Ended up sleeping in my Suburban. Ain't payin' no $279 for a night with Tom Bodet.
November 22, 20196 yr 4 hours ago, Dr. Beeper said: Yes. I’ve got an acquaintance who’s hitting me up to do a lot of investing in Guyanese infrastructure projects - like hotels. No thanks. What could go wrong?
November 22, 20196 yr Reminds me of Pearsall back in 2014 when I ponied up for a dove lease down there. Ended up sleeping in my Suburban. Ain't payin' no $279 for a night with Tom Bodet.If you could find one. And more like 400. I remember years ago before the EF really took off staying in one of those type motels. Sign by the sink saying no bird cleaning shocked me at the time. Not surprising in retrospect.
November 22, 20196 yr Yes. I’ve got an acquaintance who’s hitting me up to do a lot of investing in Guyanese infrastructure projects - like hotels. No thanks. Sounds like there is demand for hotels though
November 22, 20196 yr 46 minutes ago, Updawg said: 5 hours ago, Dr. Beeper said: Yes. I’ve got an acquaintance who’s hitting me up to do a lot of investing in Guyanese infrastructure projects - like hotels. No thanks. Sounds like there is demand for hotels though Yeah, there was a demand for hotels in So. Texas too.
December 6, 20196 yr OPEC+ agrees to extend their current cuts for another quarter and take an additional 500K barrels/day off the market. Was pretty well telegraphed over the past few days, so only a modest increase in WTI of about 1.25%. Sitting right above $59 as of this post. Gonna be interesting to see what happens if prices just continue to hover in the $50-60 range throughout 2020. I was at the PBLA Xmas party out in Midland earlier this week and got a general sense that most companies are in a holding pattern at the moment. Nobody wants to make any big moves while WTI stays stuck in that narrow range.
December 8, 20196 yr Pemex announces giant discovery. 500 million barrels in Tabasco.https://www.businesstimes.com.sg/energy-commodities/pemex-announces-discovery-of-giant-crude-oil-deposit
December 9, 20196 yr Rig count approaching numbers not seen since the big bust of 2015 really settled in. All-time High, November 2011: 1992 active onshore rigs, 916 in Texas. End of the Boom, December 2014:1862/895. Dropped to 779/362 by October 2015: All-time Low, May 2016: 380/173. December 2018: 1052/528. December 2019: 777/400.
December 10, 20196 yr I’m working on a buy side mandate with a group that has $600m to spend on PDP in the Permian. Came from an IB I partner with out of St Louis.
December 11, 20196 yr https://www.barrons.com/articles/chevron-takes-10-billion-write-down-on-lower-natural-gas-prices-other-factors-51576071648 Chevron takes 11 Billion write down and selling Marcellus
December 11, 20196 yr 22 minutes ago, Neonmoon said: https://www.barrons.com/articles/chevron-takes-10-billion-write-down-on-lower-natural-gas-prices-other-factors-51576071648 Chevron takes 11 Billion write down and selling Marcellus Ouch
December 11, 20196 yr 50 minutes ago, Neonmoon said: https://www.barrons.com/articles/chevron-takes-10-billion-write-down-on-lower-natural-gas-prices-other-factors-51576071648 Chevron takes 11 Billion write down and selling Marcellus Got to have a buyer to sell that shit heap.
December 11, 20196 yr Heard Morningstar Partners in Fort Worth is done. I think they are selling all their assets and shutting the doors.
December 11, 20196 yr 7 hours ago, Neonmoon said: https://www.barrons.com/articles/chevron-takes-10-billion-write-down-on-lower-natural-gas-prices-other-factors-51576071648 Chevron takes 11 Billion write down and selling Marcellus 6 hours ago, Trey3216 said: Ouch 6 hours ago, Fudge Nuggets said: Got to have a buyer to sell that shit heap. They bought when gas was 6, now it’s 2. Permian buyers will face the same fate
December 12, 20196 yr 50 minutes ago, Neonmoon said: They bought when gas was 6, now it’s 2. Permian buyers will face the same fate Hey, CVX is ass deep in overvalued Permian assets as well. Guess that will be another multi-billion dollar write down in a year or two.
December 12, 20196 yr 21 hours ago, Dr. Beeper said: Permian carries a premium. I like South Texas in particular. East Texas too. Eagle Ford, fuck yeah!
December 12, 20196 yr 7 minutes ago, Dr. Beeper said: Permian buyers might write down their assets (largely depends upon when they bought) but it’ll have nothing to do with gas price drop. I was referring to the overvalue, not the gas price
December 12, 20196 yr 21 hours ago, Dr. Beeper said: EF carries a premium too. Core Delaware, Midland, EF and Bakken are no go areas. I just wanted to use the Team America lingo.
December 16, 20196 yr Permian deals still happening: Oklahoma's WPX Energy will pay $2.5 billion to buy a Permian Basin producer backed by a Houston private equity firm as the consolidation of the still-booming Permian heads into a new year. WPX, which focuses on the Permian and North Dakota's Bakken shale, will acquire Denver-based Felix Energy, which is supported by the Houston private equity player, EnCap Investments. WPX is specifically interested in scooping up Felix's acreage in Texas' Loving, Winkler and Ward counties in Texas near the New Mexico border. That position of part of the core region of the Permian's more active western lobe, the Delaware Basin.
December 17, 20196 yr WTI is up above $60 for the first time in 3 months. Been on a pretty good run for most of December. Doubt we'll see sustained movement into the $70's or anything, but at least it looks like we won't get a repeat of last December when oil took a big ol' shit down into the low $40's just in time to bottom out on Xmas Eve. That was a real kick in the junk after it looked like we'd finally turned a corner when the price hit $75 just two months prior. Edited December 17, 20196 yr by Storm the Field
December 17, 20196 yr I don't have many holdings, but my 35 shares of DNR made me happy. Edited December 17, 20196 yr by workswithseed
December 18, 20196 yr @Hate, did you find a landing spot in O&G or venture elsewhere? Edited December 18, 20196 yr by T’Boo Ted Marshall
December 18, 20196 yr On 11/13/2019 at 1:30 AM, Johnny Chimpo said: Anyone else getting into CHK? I can’t help myself. I’ve been in and out and never made much money on it but I’m picking up some shares just for shits at this price. Slowly marching back towards getting over a dollar. I bought some late January $1 calls too, just for fun.
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