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Michael Fitzsimmons

 
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  • Is Gold Finished? [View article]
    Is the Fed finished? Are worldwide central banks finished?
    Feb 22 11:48 AM | 11 Likes Like |Link to Comment
  • Natural Gas Prices To Drop 25% As Winter Winds Down [View article]
    The U.S. obviously needs a new source of nat gas demand. With natural gas prices so low, and gasoline prices so high, it's clear the answer to America's economic, environmental, and national security issues as a result of its addiction to oil is:

    ***** NATURAL GAS TRANSPORTATION *****
    Feb 21 04:20 PM | 2 Likes Like |Link to Comment
  • Tesla Tanks After Reporting Wider Loss Than Expected, But Profit In Sight [View article]
    EV's are just a big distraction! With natural gas prices so low, and gasoline prices so high, it's obvious what the solution is to the economic, environmental, and national security problems the U.S. faces:

    ***** NATURAL GAS TRANSPORTATION *****
    Feb 21 04:16 PM | Likes Like |Link to Comment
  • 2012 Oil Reserve Replacement Ratios: And The Winner Is... [View article]
    COP announces three new agreements with PetroChina:

    http://bit.ly/W6wc60

    PetroChina is taking a 20% interest in the Poseidon offshore discovery and a 29% interest in the Goldwyer onshore shale. COP and PetroChina will jointly study unconventional resource development in ~500,000 acres in the Sichuan Basin.
    Feb 21 04:05 PM | Likes Like |Link to Comment
  • 2012 Oil Reserve Replacement Ratios: And The Winner Is... [View article]
    Wow GozieBoy...that is a pretty negative comment considering the facts. Let's look at COP's big reserve replacements:

    - 500 million in Canada, primarily oil sands
    - 230 million in lower-48, primarily Bakken and Eagle Ford
    - 100 million in Asia Pac, mostly Australian LNG

    If these are "creative", then ALL oil companies are "creative". The truth is COP is kicking butt in Canada and in the Eagle Ford. And the LNG plants in Australia are "real". The drill bit is certainly used in the Eagle Ford, and they are achieving margins over 50%. So, while COP may not have had the huge conventional oil discoveries of say a StatOil (who else has?), I am not sure your pessimistic view of COP squares up with the facts. Note that XOM too added much of its reserves via shale and Canada.
    Feb 21 03:02 PM | 1 Like Like |Link to Comment
  • 2012 Oil Reserve Replacement Ratios: And The Winner Is... [View article]
    Hi Liledoun - excellent question. As we all know, some of these Bakken properties have decline rates of 60-80% in one year, so drilling there is capital intensive. Most of the big companies have some exposure to oil sands and conventional plays to offset that. However, it is interesting that roughly 40% of XOM's reserve replacement was shale oil. My first thought would be a decrease in profit/barrel due to the cap-ex requirements. Perhaps technology will keep progressing and somewhat ease those worries going forward. I'd be interested in your and others' thoughts as well.
    Feb 21 01:29 PM | Likes Like |Link to Comment
  • 2012 Oil Reserve Replacement Ratios: And The Winner Is... [View article]
    Hi rjj - well, yes, I did say that CVX was the best oil company on the planet. However, this article is specifically on RRR, and on that metric COP wins 142% to 112% (plz refer to the table in the article).
    Feb 21 01:18 PM | Likes Like |Link to Comment
  • 2012 Oil Reserve Replacement Ratios: And The Winner Is... [View article]
    Yes and not only the acreage, but the technology to access its reserves.
    Feb 21 11:26 AM | Likes Like |Link to Comment
  • 2012 Oil Reserve Replacement Ratios: And The Winner Is... [View article]
    Thanks Craig. I plan a follow up on the bigger Bakken players. Note that 750 million of XOM's additions came from the Woodford and Bakken, and then we had CLR's recent announcement:

    http://bit.ly/VOCG9C

    Clearly, and not surprisingly, the shale plays are playing an important role in RRR's this year. That said, I was quite surprised they played as big a role in XOM's replacements as they did.
    Feb 21 10:23 AM | Likes Like |Link to Comment
  • 2012 Oil Reserve Replacement Ratios: And The Winner Is... [View article]
    I understand your frustration. It seems like governments hold all the cards, which of course is exactly how they like it.
    Feb 21 10:20 AM | 1 Like Like |Link to Comment
  • Crude Oil Volatility At Record Low Levels [View article]
    Well timed article - WTI has been quite volatile the last two days.
    Feb 21 10:19 AM | Likes Like |Link to Comment
  • Statoil: A Good Long-Term Holding Or A Trading Stock? [View article]
    Thanks for the plug PowerHedge. I also enjoyed your article on dual-gradient drilling. Bodes well for CVX.
    Feb 20 05:00 PM | Likes Like |Link to Comment
  • Foster Wheeler Will Prosper Off New EU Nat Gas Transportation Strategy [View article]
    Yes, as Bill Gross of Pimco said, "We have the best government money can buy", and when it comes to natural gas transportation, the most powerful lobbies out there want to do everything in their power to keep it from happening. End result: Americans paid the highest average price for gasoline ever in 2012, and that is despite the shale oil bonanza.
    Feb 20 01:12 PM | 1 Like Like |Link to Comment
  • Chevron: The Best Integrated Oil Company In The World [View article]
    Hi Jan, my understanding after reading a couple articles about dual gradient is that it is much more expensive if the drilling rig was not specially designed to support it, but not much more expensive at all if the drilling rig was designed to support it. It would appear that Chevron is using Transocean's Discoverer Clear Leader rig for Jack. I believe this class of rig support dual gradient drilling. There is a nice write up on this you can access from a link on the right side of this webpage:

    http://www.deepwater.com

    under "Technology"
    Feb 20 09:51 AM | Likes Like |Link to Comment
  • New Flyer Industries: Big CNG Bus Contracts And A 19.99% Interest By Marcopolo [View article]
    I have been watching both NFI and NFYEF. NFYEF has considerably less volume, but for American investors, you have to do a currency translation to get into NFI on the Toronto Stock Exchange. I have not jumped in yet. And yes, I would agree the market hasn't reacted considering it was a nearly 20% stake. Kind of hard to understand why that kind of investment was considered to be very bullish...especially when the price was $10.50 - considerably above the recent trading range.
    Feb 20 09:40 AM | Likes Like |Link to Comment
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