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Michael Fitzsimmons

 
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  • Bakken Producers And Light-Sweet Refining Capacity: Time To Take Profits? [View article]
    Thanks for the recommendations - I will see if I can find a source.
    Jul 18, 2013. 04:22 PM | Likes Like |Link to Comment
  • 5 Natural Gas Transportation Stocks For 2013: June Update [View article]
    Ari - I believe Canada's domestic nat gas production is fully capable of not only supplying any nat gas demand out of the tar sands but also will be able to export LNG to Asia as well.
    Jul 18, 2013. 04:11 PM | Likes Like |Link to Comment
  • Bakken Producers And Light-Sweet Refining Capacity: Time To Take Profits? [View article]
    Yes, they do - and check out the Shiraz-Cabernet from neighboring Australia's Rosemount Estate. A very affordable wine where they mix the berries to get a very smooth taste. It's even better the day after you first open the bottle.
    Jul 18, 2013. 09:09 AM | 1 Like Like |Link to Comment
  • Bakken Producers And Light-Sweet Refining Capacity: Time To Take Profits? [View article]
    My point was...terrible energy policy in the US has truly been a bi-partisan effort.
    Jul 17, 2013. 04:18 PM | 1 Like Like |Link to Comment
  • Bakken Producers And Light-Sweet Refining Capacity: Time To Take Profits? [View article]
    happyguy: Yes, you're right. But that is exactly the same thought process a had a couple years ago when I decided to buy WLL instead of EOG. Obviously, I regret that decision today. The difference is that EOG knows how to turn its awesome production growth into net income growth. WLL hasn't figured out how to do that. They would rather reward management and employees with the "Production Participation Plan", which from what I can tell rewards them on higher production even as net income per share goes down. In my opinion, that does not align management and employee interest with that of the ordinary shareholder.
    Jul 17, 2013. 04:09 PM | 1 Like Like |Link to Comment
  • Bakken Producers And Light-Sweet Refining Capacity: Time To Take Profits? [View article]
    Yes, but of course we must remember that the ethanol mandates were started by the Bush administration...
    Jul 17, 2013. 04:05 PM | 1 Like Like |Link to Comment
  • Energy XXI: Horizontal Drilling In GOM Results In 390% Organic Reserve Replacement Ratio [View article]
    Gravity: Yup, EXXI is certainly having a good day, currently up +$3.50 on nearly 5x avg. volume. I'd love to know how much of the short interest covered today.

    The horizontal drilling programs are really starting to payoff. If the JV's with Exxon and Apache kick in, this stock could really move! Did you see the Forbes article today, nicely titled - "Sharp Rise In Energy XXI Share Price Shows Why You Must Be There Before The Good News Comes":

    http://onforb.es/18o3vYb

    We'll probably do OK on these shares.
    Jul 17, 2013. 02:37 PM | Likes Like |Link to Comment
  • Bakken Producers And Light-Sweet Refining Capacity: Time To Take Profits? [View article]
    I can't argue with your logic Zorro - EOG is the best name in the space. I sold most of my WLL too, but I did keep a small stake just because at some point you would think institutions and ordinary shareholders would put some pressure on the CEO and management to right the ship.
    Jul 17, 2013. 09:15 AM | 1 Like Like |Link to Comment
  • Energy XXI: Horizontal Drilling In GOM Results In 390% Organic Reserve Replacement Ratio [View article]
    The Wall Street Journal quote page on EXXI:

    http://on.wsj.com/18kQRWf

    Says short interest in EXXI amounts to 6.41 Million Shares, over 8% of float. With such a bullish reserve replacement report, EXXI could see a short squeeze today.
    Jul 17, 2013. 09:03 AM | 1 Like Like |Link to Comment
  • Bakken Producers And Light-Sweet Refining Capacity: Time To Take Profits? [View article]
    I totally agree - the ethanol mandates, and all biofuel mandates are absolutely insane energy "policy", especially when natural gas is $3.65 MMBtu.
    Jul 17, 2013. 08:02 AM | 3 Likes Like |Link to Comment
  • Bakken Producers And Light-Sweet Refining Capacity: Time To Take Profits? [View article]
    Not sure what you are referring to wrt to "all the corrections". As for the "needs improvement", the article was chosen as an "Editor's Pick", so at least one SA editors has a different opinion than yours. But sure, everyone can improve, and that is why I encourage reader contributions in the comment section.
    Jul 17, 2013. 06:56 AM | 2 Likes Like |Link to Comment
  • Bakken Producers And Light-Sweet Refining Capacity: Time To Take Profits? [View article]
    cdjacobson: Thanks. Interesting comment on the futures prices so I checked the cme WTI futures curve:

    http://bit.ly/10ovlQr

    and near term WTI contracts are trading $4-6 higher than Jan 2014. Beyond that prices drop more, to $89 in Jan 2015. But that's a long way out and as we know alot can happen in today's world.

    As for NAV's, my hope was that Bakken producers like WLL would have increased in value because of increased production and reserves. I got the increase in production and reserves I expected from them, but the stock didn't move, I believe, because those gains were not translated into net income per share.
    Jul 17, 2013. 06:52 AM | 2 Likes Like |Link to Comment
  • Bakken Producers And Light-Sweet Refining Capacity: Time To Take Profits? [View article]
    Thanks bandit: Yes they will be, and here's why. If you read my latest article on the latest PSXP prospectus:

    http://bit.ly/12U54F6

    you know that PSX kept 100% ownership of the GP and a 77.1% ownership of the MLP. So what this mean is that PSX will be receiving tax-advantaged distributions from the MLP. It also appears very likely that PSX is planning to drop down its 1/3 interest in both the Sand Hills and Southern Hills pipelines to PSXP.

    All that said, remember, PSX's midstream business is primarily conducted through DCP Midstream: its 50-50 JV with Spectra Energy. The assets being dropped down to PSXP are midstream assets outside of that JV. For a complete overview of all of PSX's midstream assets, check out this article:

    http://bit.ly/12U54F8
    Jul 16, 2013. 09:16 PM | 3 Likes Like |Link to Comment
  • Bakken Producers And Light-Sweet Refining Capacity: Time To Take Profits? [View article]
    Good info rlp - thanks for the contribution!
    Jul 16, 2013. 09:09 PM | Likes Like |Link to Comment
  • Bakken Producers And Light-Sweet Refining Capacity: Time To Take Profits? [View article]
    Oh yeah, Bakken producers are loving the current price of WTI!
    Jul 16, 2013. 09:08 PM | 1 Like Like |Link to Comment
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