Seeking Alpha

Michael Fitzsimmons

 
View as an RSS Feed
View Michael Fitzsimmons' Comments BY TICKER:
Latest  |  Highest rated
  • Santos Limited: Riding High On Exxon Mobil's Extremely Successful Papua New Guinea LNG Project [View article]
    I just heard on the Exxon Mobil Q2 conference call that PNG LNG came in months ahead of schedule and under budget.
    Jul 31 11:19 AM | Likes Like |Link to Comment
  • Santos Limited: Riding High On Exxon Mobil's Extremely Successful Papua New Guinea LNG Project [View article]
    Well, the PNG government is certainly involved in such a massive project that has such a big affect on the country. If the PNG government keeps all the wealth generated by the country's energy bounty in the hands of a very few well-connected people, and doesn't enable benefits to flow down to the general population, well, that's gonna be a problem. And it's nothing new to developing countries - it's call the "oil curse", but it obviously applies to natural gas as well.
    Jul 31 10:20 AM | Likes Like |Link to Comment
  • Santos Limited: Riding High On Exxon Mobil's Extremely Successful Papua New Guinea LNG Project [View article]
    Kermit - good point about the native population. If the benefits of PNG are not distributed to the native peoples as promised, there is certainly the possibility of social unrest. Hopefully, XOM in conjunction with the PNG government will insure the people see some of the benefits of the LNG exports.
    Jul 31 09:20 AM | Likes Like |Link to Comment
  • Santos Limited: Riding High On Exxon Mobil's Extremely Successful Papua New Guinea LNG Project [View article]
    I do not have detailed margin data on PNG LNG. However, I think the bigger issue is construction cost of the plants as opposed to lifting costs. That said, my understanding is that PNG LNG not only came in ahead of schedule but also on budget. In Australia, I would agree that construction costs soared due to competition of labor and technical personal because of the sheer number of LNG construction projects. However, these AU LNG plants have such long-term futures, the extra costs are spread out over many years. And of course Asian LNG suppliers have a built in geographic advantage over Qatar/US suppliers when it comes to transportation and insurance costs.
    Jul 31 09:00 AM | Likes Like |Link to Comment
  • Santos Limited: Riding High On Exxon Mobil's Extremely Successful Papua New Guinea LNG Project [View article]
    Thanks Nate and yes, I have published quite a few articles on MLP's lately, and submitted another one this morning so keep an eye out for it. As long as interest rates remain ultra-low, and the US 10-year Treasury stays below 3%, I suspect MLPs will continue to thrive.
    Jul 31 08:55 AM | Likes Like |Link to Comment
  • Phillips 66 Delivers Strong Q2 Despite Weakness In Midstream Segment [View article]
    Well, I touched on the weak Midstream results...the problem is, I see nothing fundamentally wrong with the Midstream business. In fact, despite the propane driven weakness (which is seasonal and should not have been a big surprise to analysts), Midstream earnings were up 20% YOY. In addition, chemicals and refining put in strong performances in my opinion. And, despite increasing dividends and buybacks, PSX has been reducing debt and the debt-to-capital ratio. What's not to like? Love this company and still think it is one of the best ways to play the long-term fundamental bullish outlook for "Shale USA":

    http://seekingalpha.co...
    Jul 30 09:56 PM | Likes Like |Link to Comment
  • Inter Pipeline: This Dividend Growth Company Is On A Tear And It's Not Over Yet [View article]
    I know that US investors holding IPL in a qualified retirement account are exempt from the 15% Canadian foreign tax on those dividends. You being a Canadian citizen (if I understand you correctly), might complicate the matter. I suggest you contact your broker who can then contact the appropriate IPL shareholder's service person to get a definitive answer. Good question, thx.
    Jul 30 06:01 PM | Likes Like |Link to Comment
  • Phillips 66 Delivers Strong Q2 Despite Weakness In Midstream Segment [View article]
    Hello Coleman7 - thank you and yes, I remembered your comment about Cenovus when I heard them mentioned on the PSX conf. call this morning. I will try to take a look at CVE soon.
    Jul 30 03:57 PM | Likes Like |Link to Comment
  • Phillips 66 moves lower as Q2 profit slips on weak refining [View news story]
    Au contraire, I think PSX had a very solid quarter:

    http://seekingalpha.co...
    Jul 30 03:00 PM | 1 Like Like |Link to Comment
  • Phillips 66 Partners Reports Second-Quarter Earnings [View article]
    PSX: an outstanding dividend growth stock:

    http://seekingalpha.co...
    Jul 30 11:36 AM | Likes Like |Link to Comment
  • Santos Limited: Riding High On Exxon Mobil's Extremely Successful Papua New Guinea LNG Project [View article]
    Good question - I have sent an in inquiry to the company and will report back when I get a response. Thanks for the question.
    Jul 30 10:52 AM | 1 Like Like |Link to Comment
  • Pembina Pipeline Is Very Appealing Based On Long-Term Bullish Fundamentals [View article]
    Hello Holt - thanks. My statement that the US is the largest exporter of propane came from the Pembina presentation cited in the article. I don't follow Enterprise close enough to know if they are the biggest US based exporter of propane, but my assumption is that they are indeed a very big player in that arena.
    Jul 30 09:28 AM | Likes Like |Link to Comment
  • ConocoPhillips, Oando close $1.5B Nigeria deal [View news story]
    Cha-chinggg!
    Jul 30 08:45 AM | 1 Like Like |Link to Comment
  • Pembina Pipeline Is Very Appealing Based On Long-Term Bullish Fundamentals [View article]
    Thanks guys - I appreciate your readership.
    Jul 30 08:38 AM | Likes Like |Link to Comment
  • Pembina Pipeline Is Very Appealing Based On Long-Term Bullish Fundamentals [View article]
    DrT: I "think" the Seeking Alpha policy on PRO articles is to:

    1) Give PRO subscribers an "early look" for 24-hrs.
    2) Then I think they give everyone access for 24-hrs.
    3) Then I think they only give access to PRO subscribers from then on.

    But you probably should contact SA to make sure.
    Jul 30 08:37 AM | Likes Like |Link to Comment
COMMENTS STATS
8,085 Comments
10,236 Likes