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Devon Shire

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  • Why Is Britain's Ministry Of Defense Predicting $500 Per Barrel Oil Prices? [View article]
    I guess the answer to that would be the major that has the biggest piece of the unconventional oil plays.

    Personally I prefer companies that are more pure plays on oil and the unconventional resource plays.

    http://bit.ly/H0Abqy
    Jun 7 04:01 PM | Likes Like |Link to Comment
  • Why Is Britain's Ministry Of Defense Predicting $500 Per Barrel Oil Prices? [View article]
    I think the owners of the shale or tight oil plays will do better as time goes on.

    Most of the infrastructure cost won't have to be repeated for the secondary recovery phase. Those barrels will be much more valuable than initial production.
    Jun 7 04:00 PM | 3 Likes Like |Link to Comment
  • Longleaf Partners Reveal Where Ex-Chesapeake CEO McClendon Lost Their Support [View article]
    What is a normalized natural gas price?

    I'm not sure it isn't $4 or $5.

    http://bit.ly/H0Abqy
    Jun 7 03:21 PM | Likes Like |Link to Comment
  • Why The Rate Of Growth In U.S. Oil Production Is Going To Slow Significantly [View article]
    Not true my friend. It depends on the unconventional play you are looking at.

    The example I've used is from the Canadian portion of the Bakken which is much shallower than the US Bakken and therefore costs a lot less to drill. Therefore it is economic at these lower rates of production.

    I follow some of these Canadian producers here:

    http://bit.ly/H0Abqy
    Apr 12 09:41 AM | Likes Like |Link to Comment
  • Magnum Hunter's Eagle Ford Sale Provides Another Data Point For Hopeful Chesapeake Shareholders [View article]
    Thanks for the comments. And thanks for returning to read another one of my articles when you thought the first one was so awful!

    I'm not sure my article in this case actually draws different conclusions from what you are saying, which is the CHK acreage for sale is more likely to get a price similar to the Hess deal rather than the Magnum Hunter deal.

    I looked at both price per flowing barrel and price per acre to consider (as you point out) that acreage that is undeveloped is priced differently than acreage that has already had a lot of capital invested.

    I do appreciate your comments, which are obviously well thought out and from a knowledgeable person.

    Please don't take a lack of reply in all instances (like my SD article) to mean your comments aren't read. I've found that engaging in debate on the internet is not a good use of time and also tends to make me defend my position rather than listen to different views such as yours.

    Thanks again.
    Apr 3 09:36 PM | 2 Likes Like |Link to Comment
  • Magnum Hunter's Eagle Ford Sale Provides Another Data Point For Hopeful Chesapeake Shareholders [View article]
    Thanks. Was that on a conference call?

    http://bit.ly/H0Abqy
    Apr 3 05:19 PM | Likes Like |Link to Comment
  • Three Free Lottery Tickets Attached To Stellar Balance Sheets [View article]
    To be fair to Buffett.....he didn't start getting sweetheart deals until he had built a company sitting on tens of billions of dollars of cash.

    That was done through incredible investing over decades.
    Mar 26 08:43 AM | 4 Likes Like |Link to Comment
  • Three Free Lottery Tickets Attached To Stellar Balance Sheets [View article]
    Thanks for the comment.

    Your question is really the critical one for all of these companies.

    Do the exploration companies find something big on the first well or the tenth well? That is the risk.

    None of them are anywhere near needing to dilute shareholders in the near future. Two years out though, it becomes a possibility if nothing good happens.
    Mar 26 08:42 AM | Likes Like |Link to Comment
  • Exxon Mobil Sports A Juicy (And Reliable) Total Distribution Yield Over 7% [View article]
    Thanks for the comment Michael Fitzsimmons.

    What I'd actually like to see XOM do with its cash is keep locking up unconventional oil assets in North America. I believe as the years go by that acreage is going to get more and more valuable as technology unlocks more of that oil in place.

    I'll maybe pop over to your article and drop a link so readers can check out some of my articles with that unconventional thesis!
    Mar 21 06:22 PM | 3 Likes Like |Link to Comment
  • Exxon Mobil Sports A Juicy (And Reliable) Total Distribution Yield Over 7% [View article]
    Any thoughts on the tax efficiency for shareholders of a dividend vs the stock buyback?

    I've got a couple of 10% yielders in my newsletter portfolio and I'm not sure both of them wouldn't add more value by repurchasing shares instead of distributing that cash.

    http://bit.ly/H0Abqy
    Mar 21 05:14 PM | Likes Like |Link to Comment
  • Harvest Natural Resources: Does Share Price Drop Present An Opportunity? [View article]
    I think they counted on actually get paid by Venezuela.
    Mar 20 03:15 PM | 1 Like Like |Link to Comment
  • Harvest Natural Resources: Does Share Price Drop Present An Opportunity? [View article]
    The Venezuelan asset is likely going to prove to be quite valuable in the long run, but in the short run HNR isn't receiving any cash from it and it is completely illiquid.
    Mar 19 05:26 PM | Likes Like |Link to Comment
  • How Big Could The Eagle Ford Turn Out To Be For EOG? [View article]
    Thanks for reading and the comment.

    I haven't seen any news or heard any rumors either on PBN. The volume (more than 2 million shares) has been enormous the last couple of days.

    The share price is still very depressed though, so no reason to get too excited for me. I'm happy to hold it for a long time, collect the dividends and let the value of all that oil they are sitting on become realized.
    Mar 15 07:39 PM | Likes Like |Link to Comment
  • How Big Could The Eagle Ford Turn Out To Be For EOG? [View article]
    Thanks Craig,

    I think you will like what you find valuation wise. The multiples are much lower and the lower royalties generally makes up for any price differentials on Canadian light oil.
    Mar 15 07:36 PM | Likes Like |Link to Comment
  • How Big Could The Eagle Ford Turn Out To Be For EOG? [View article]
    Yes, it is about time!

    I haven't seen any news. The CEO presented at the First Energy conference this week and I'm going to cover it in detail for my subscribers in my newsletter this week.

    My intention is to hold this company for the next 10 years, so I don't watch the price too closely on a day to day basis.
    Mar 15 02:19 PM | Likes Like |Link to Comment
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