Seeking Alpha
View as an RSS Feed

Devon Shire  

View Devon Shire's Comments BY TICKER:
Latest  |  Highest rated
  • 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, 2013. 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, 2013. 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, 2013. 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, 2013. 02:19 PM | Likes Like |Link to Comment
  • How Big Could The Eagle Ford Turn Out To Be For EOG? [View article]
    I do I actually covered it a couple of weeks ago for my subscribers.

    Huge potential obviously, also a lot of risk given it is a small company focused on one unproven play in the middle of the Great White North!
    Mar 14, 2013. 06:47 PM | Likes Like |Link to Comment
  • Prem Watsa And Jeremy Grantham Have Completely Opposite Views On Commodity Prices [View article]
    So does Grantham.......although I suppose spotting giant bubbles isn't exactly predicting a black swan. So who does one believe?
    Mar 14, 2013. 02:04 PM | 1 Like Like |Link to Comment
  • Prem Watsa And Jeremy Grantham Have Completely Opposite Views On Commodity Prices [View article]
    Me too. It reminded me of listening to Buffett. It is never hard to tell when you are listening to a guy who really knows the facts behind his opinions.
    Mar 14, 2013. 02:03 PM | Likes Like |Link to Comment
  • How Big Could The Eagle Ford Turn Out To Be For EOG? [View article]
    Thanks for the comment.

    The Canadian companies seem to be rolling out EOR into the unconventional plays a lot earlier than the US producers.

    Check into Crescent Point in the Canadian Bakken which is well into testing waterflooding. The Cardium, Swan Hills, Red Lake and others already have waterflood pilots for other companies going as well.
    Mar 14, 2013. 09:40 AM | 1 Like Like |Link to Comment
  • How Big Could The Eagle Ford Turn Out To Be For EOG? [View article]
    Thanks Chuck.

    You have got an "unconventional" focus there, just like me.

    Have you had a look at Canadian producers focused on light oil resource plays? When I compare http://bit.ly/H0Abqy valuations the Canadian producers are much, much less expensive.

    Some very nice dividend yields as well.
    Mar 14, 2013. 09:31 AM | Likes Like |Link to Comment
  • How Big Could The Eagle Ford Turn Out To Be For EOG? [View article]
    Thanks Craig,

    I always appreciate your comments. Readers would be far better served with you writing instead of me.

    Have you looked at the Canadian unconventional sector? The S&P/TSX Venture index is off almost 40% in a year and the valuations on some of the smaller and mid sized companies are pretty shocking.

    My portfolio http://bit.ly/H0Abqy has taken a beating because of it, but I just keep buying with an eye for ten years from now.
    Mar 14, 2013. 09:29 AM | Likes Like |Link to Comment
  • SandRidge Agreement With Activist TPG Puts The Company Fully 'In Play' [View article]
    Thanks.

    As I mention below I shouldn't have used that Mount Kellett valuation which is obviously dated for both the Permian sale and the crappy metrics CHK got for the Mississippian which I wrote about here:

    http://seekingalpha.co...
    Mar 14, 2013. 08:21 AM | Likes Like |Link to Comment
  • SandRidge Agreement With Activist TPG Puts The Company Fully 'In Play' [View article]
    Thanks for the comments.

    I actually have had a look at Austex here:

    http://bit.ly/12dyJOq

    I shouldn't have used that Mount Kellett valuation (was just trying to make the point that $10 wasn't unreasonable in fairly short order), I wrote about the Mississippian value after the CHK sale here:

    http://seekingalpha.co...
    Mar 14, 2013. 08:20 AM | Likes Like |Link to Comment
  • Brookfield Asset Management Has Some Explaining To Do To Second Wave Shareholders [View article]
    Thanks for the comment Luis.

    I've averaged down on my position a little bit, but to be honest the four months of silence from the company along with a share price that drops every day to unfathomably low levels keeps me from buying a significant amount.

    I'm not a big believer in the intelligence of Mr. Market, but when a company goes this radio silent I haven't had happy endings very often.

    Brookfield is fully responsible for the position this company is in and have the financial means to help it get back on track. I hope they do the right thing since they put us in this mess.
    Mar 11, 2013. 08:07 PM | 2 Likes Like |Link to Comment
  • Brookfield Asset Management Has Some Explaining To Do To Second Wave Shareholders [View article]
    Thanks.

    If I hear anything I'll post it on my site:

    http://bit.ly/H0Abqy
    Mar 11, 2013. 07:29 PM | 1 Like Like |Link to Comment
  • Berry Petroleum Sale Metrics Suggest Penn West Is On Sale [View article]
    Thanks for the comment.

    I think the article I wrote was very simplistic since I looked at only one metric. I usually try and use several when analyzing a company.

    I also think that your suggestion to simply look at the PV10 number and assume that is what the company is worth is far too simplistic.

    For example. Encana just raised $2 billion selling acreage (and retained half of it what would be worth another $2 billion) in the Duvernay that has exactly $0 credited to it in the reserve report. Only looking at the PV10 figure would miss all of that.

    Penn West is similar. The company has massive amounts of value in the ground on its acreage that are going to appear over the next twenty years. This land has no reserves, no production etc.

    You can't see it in PWE's financial reports or reserve report.

    Now, I qualify that this company needs to figure out how to operate more efficiently in order to properly take advantage of all of that property....but my point is that there are lots of assets with value that you can't see in a PV10 number.
    Mar 10, 2013. 12:46 PM | 1 Like Like |Link to Comment
COMMENTS STATS
571 Comments
562 Likes