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dnpvd51

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  • Cabot Oil & Gas: Beyond The Marcellus [View article]
    The price for Marcellus NG has fallen through the cellar. When the price of coal crashes, coal companies cut production. Natural gas companies apparently raise EURs and confuse the losses with increasing production.

    Cabot is going to have to use some really fancy accounting to show a profit this quarter.

    Last quarter:
    _____________
    Production of 127.6 billion cubic feet equivalent (Bcfe), an increase of 34 percent over last year's comparable quarter
    Net income excluding selected items of $115.3 million, an increase of 21 percent over last year's comparable quarter
    _______________________

    And for the latest quarter the price is down at least one buck and in many places in the Marcellus closer to two bucks. This means Cabot is going to lose money this quarter. It is going to be interesting to see how they tweak the financials to show a profit.

    And I don't think that these guys were even profitable last quarter. The gas comes fast from these wells. If these guys hit the motherlode, they should be rolling in cash. Instead they are rolling in debt. And claim stunning EURs for rapidly depleting wells.

    Natural gas is priced too low for anybody to be making profits at these prices.
    Sep 25, 2014. 11:28 PM | Likes Like |Link to Comment
  • Cabot Has Strong Reserves And Production Growth [View article]
    I wonder how this company gets so many to believe that they can make money at $2 NG?

    The main thing this company is growing is debt.
    Sep 20, 2014. 09:56 AM | Likes Like |Link to Comment
  • Marcellus Differentials: Do Not Count On A Quick Recovery [View article]
    W. Virginia plus Ohio does not equal 5 BCF per day according to state data.

    What is real time data?
    Sep 18, 2014. 10:17 PM | Likes Like |Link to Comment
  • Marcellus Differentials: Do Not Count On A Quick Recovery [View article]
    If Pennsylvania is producing 10.5 BCF per day shale Ng according to state data, how are we getting these high estimates for the Marcellus?
    Sep 18, 2014. 09:47 PM | Likes Like |Link to Comment
  • The Case For Fannie Mae: Unpacking The Motions For Summary Judgment [View article]
    One law is that there is no contract without consideration.

    This means when there is an agreement, both sides have to make promises to perform. Fannie was bankrupt, so the shareholders had nothing to promise, therefore they have nothing.

    It occurs to me that politicians are likely not to be so stupid as to give the shareholders anything anyhow. The bailouts are not quite anything that politicians are proud of. The one argument that the apologists keep trotting out is that the government has been repaid for the bailouts. This is complete rubbish as the FED has ballooned its balance sheet to effect this outcome.

    It sure looks a lot better for Fannie to be paying their temporary dividends to the government than to a special interest group.
    Sep 18, 2014. 01:38 PM | Likes Like |Link to Comment
  • The Case For Fannie Mae: Unpacking The Motions For Summary Judgment [View article]
    Again, What is the consideration that the shareholders gave the government?

    Considering the company was bankrupt, the shareholders had nothing to give. This means the shareholders as a class were not hurt by whatever stupid decisions the government made and should get nothing.
    Sep 17, 2014. 11:28 PM | Likes Like |Link to Comment
  • The Case For Fannie Mae: Unpacking The Motions For Summary Judgment [View article]
    It does matter that bankruptcy was once an option but not taken. Should one be allowed to game government if government takes moronic actions?

    What consideration did government receive for not putting the shareholders into bankruptcy. And in this case, we need more than token consideration, unless one believes that moronic government actions leave it fair game to be gamed.
    Sep 17, 2014. 06:14 PM | Likes Like |Link to Comment
  • The Case For Fannie Mae: Unpacking The Motions For Summary Judgment [View article]
    I think Obama is the greatest friend of the Fannie Mae shareholders.
    Sep 17, 2014. 04:48 PM | 1 Like Like |Link to Comment
  • The Case For Fannie Mae: Unpacking The Motions For Summary Judgment [View article]
    Fannie went into conservatorship. This was de facto bankruptcy.

    Now in every case of bankruptcy, there is a subjective factor. The owners practically always can argue that with just a little more liquidity the business could return to solvency. And yet companies go bankrupt all the time.

    Fannie was bankrupt. If not for government intervention, Fannie was headed to a more formal bankruptcy. Now what should have happened was that the bondholders should have taken a loss to the point that the company was solvent, but the government did not allow this for political reasons. Instead the government printed up trillions of dollars to inflate the housing market. This was a taking from the taxpayers and we are going to have to pay the piper sooner or later.

    Now the only reason the shareholders even have a hope of getting anything here is that shareholders are also voters and the government tried to please everyone in their infinite stupidity.

    But shareholders are gaming government here no matter how you slice it.
    Sep 17, 2014. 04:45 PM | Likes Like |Link to Comment
  • Government Health Care Inc: The Chart Which Explains The Whole Medical Mess [View article]
    Mr. Aeroguy,

    You are most definitely part of the problem.
    Sep 14, 2014. 05:16 PM | Likes Like |Link to Comment
  • Is September A NG Bear's Month?: Analysis Of Current Working Gas Storage Data [View article]
    The 6.8% production increase over last year makes no sense. Last year we increased at 1% YOY. Pennsylvania is increasing at the same rate as last year, approximately 1000 billion cubic feet per year.

    So like where is the other 5.8% coming from?
    Sep 13, 2014. 04:50 PM | Likes Like |Link to Comment
  • Government Health Care Inc: The Chart Which Explains The Whole Medical Mess [View article]
    Healthcare is good. I have no problem with the government spending big time on health care.

    And if we quit spending on our military, we could afford our healthcare. We don't need any military. Nobody is going to invade the USA even if we rid ourselves of all our weapons. We have two oceans defending our borders and Mexico and Canada are not going to invade.
    Sep 13, 2014. 02:08 PM | Likes Like |Link to Comment
  • Government Health Care Inc: The Chart Which Explains The Whole Medical Mess [View article]
    You don't see any difference between easing someone's suffering or saving a life as opposed to giving someone a new car?
    Sep 13, 2014. 12:33 AM | Likes Like |Link to Comment
  • The Case For Fannie Mae: Unpacking The Motions For Summary Judgment [View article]
    Short the stock and bet that our government will not be so stupid and inept to actually allow the shareholders something here?

    I would never bet against the stupidity of government.
    Sep 13, 2014. 12:29 AM | Likes Like |Link to Comment
  • The Case For Fannie Mae: Unpacking The Motions For Summary Judgment [View article]
    In bankruptcy cases, the shares in the company become worthless.

    "If the company's stock is publicly traded, a Chapter 11 filing generally causes it to be delisted from its primary stock exchange if listed on the New York Stock Exchange, the American Stock Exchange, or the NASDAQ. On the NASDAQ the identifying fifth letter "Q" at the end of a stock symbol indicates the company is in bankruptcy (formerly the "Q" was placed in front of the pre-existing stock symbol; a celebrated example was Penn Central, whose symbol was originally "PC" and became "QPC" after the company filed Chapter 11 in 1970). Many stocks that are delisted quickly resume listing as over-the-counter (OTC) stocks. In the overwhelming majority of cases, the Chapter 11 plan, when confirmed, terminates the shares of the company, rendering shares valueless."

    Wikipedia calls it the overwhelming majority of cases. I know of no exceptions.
    Sep 13, 2014. 12:27 AM | Likes Like |Link to Comment
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