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losbronces

losbronces
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  • Is CVR Refining's 22% Yield Too Good To Be True? [View article]
    Here is CVRR's response to the new EPA requirements: http://bit.ly/15qb3DM. They indicate minimal capital will be required to comply.

    The distributions will vary from quarter to quarter depending on the refining margin. That has been clearly stated in the prospectus, so no you cannot count on the same distribution every quarter. But at least they won't be borrowing money to try and maintain a fixed distribution. So imo they won't wreck the business to maintain a distribution.

    If feed-stock oil prices drop, margins tend to increase. Oil prices are high now, but do you expect that trend to continue? If you do, you should stay away. However, if you use diesel or gasoline, I think having a refiner that pays flow-through distributions is not a bad thing.

    And yes you will receive a K-1 instead of a 1099, so taxes will be more difficult to calculate. I know that will keep many from considering this an investment no matter what the returns might be.

    I'm in, and I've sold OTM calls too. Part of any investment is how you manage it.

    YMMV...
    Jul 18, 2013. 04:08 PM | 11 Likes Like |Link to Comment
  • Chevron (CVX) strikes a deal with Argentine oil/gas producer YPF to develop shale oil/gas assets in Argentina's Vaca Muerta formation. The companies will invest $1.24B in the project's first phase, which will include drilling 100 wells. Chevron says the deal gives it a chance to grow production beyond its 2017 target of 3.3M barrels/day. [View news story]
    Janfa, that is exactly correct. Cristina Fernandez is following the Chavista model. Get people to come and build and then take it away.

    Look at recent history in Venezuela, Bolivia and Argentina and you will see what is happening.
    Jul 17, 2013. 08:20 AM | Likes Like |Link to Comment
  • Chevron (CVX) strikes a deal with Argentine oil/gas producer YPF to develop shale oil/gas assets in Argentina's Vaca Muerta formation. The companies will invest $1.24B in the project's first phase, which will include drilling 100 wells. Chevron says the deal gives it a chance to grow production beyond its 2017 target of 3.3M barrels/day. [View news story]
    So this Argentinian court decision: http://bit.ly/10Z0YxQ# clears the way for Chevron to invest in Argentina.

    Maybe they forgot what happened to Repsol (recent status: http://reut.rs/10Z0YxR)?
    Jul 16, 2013. 07:05 PM | Likes Like |Link to Comment
  • BP ekes out a gain in a red energy sector after inking a production-sharing deal with CNOOC (CEO) to develop a deepwater block in the South China Sea. Foreign companies may only participate in exploration and production in China using these so-called PSC deals and aren't allowed to own more than 49% of the project. BP may have greased this deal by selling its stake in the Yacheng gas field last last year. For CNOOC's part, it should improve its deepwater expertise by hooking up with BP. [View news story]
    BTE, STO both up 1% today.
    Jul 16, 2013. 01:29 PM | Likes Like |Link to Comment
  • Barron's takes another shot at high-flying MercadoLibre (MELI), noting the company's results are juiced by the use of vastly-inflated official exchange rates to measure revenues from Venezuela and Argentina. The Latin American Amazon could fall more than 50% as these currency issues are recognized, says Mark Robers of Off Wall Street Consulting. Bulls counter that currency devaluation won't hit underlying growth and would also benefit operating expenses. [View news story]
    Has Barron's considered that if they use unofficial rates based on illegal currency exchanges for reporting; then they might be subject to legal problems in Argentina?

    Anyway, I doubt that those "unofficial" rates are published by anyone for the purpose of verification. In Argentina, that would be a criminal offense.

    Maybe its better for them to not be barred from doing business in Venezuela and/or Argentina.
    Jul 13, 2013. 12:41 PM | Likes Like |Link to Comment
  • Copa Holdings: Uniquely Positioned Panamanian Airliner Priced For 50% Gains [View article]
    Presidential elections in Panama next year. Don't think the rest of South American politics will have any impact on Copa.
    Jul 12, 2013. 08:05 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    They need to go after the scrap dealers. I heard a radio add in Las Vegas that was basically inviting people to bring their stolen copper to a particular dealer--absolutely disgusting.
    Jul 11, 2013. 10:54 AM | Likes Like |Link to Comment
  • U.S. district judge Denise Cole declares Apple (AAPL) guilty of conspiring to fix e-book prices, in violation of antitrust law, and says a damages trial will take place. Apple's publisher partners have already settled with the DOJ. The ruling arguably represents a win for e-book rival Amazon (AMZN), which wants to maintain the right to set its own e-book prices (regained last year following publisher settlements with the DOJ and EU). [View news story]
    All e-books for $9.99? When is the last time you bought an e-book at Amazon? Your statement is not correct.

    Prices for my last ten e-book purchases (before sales tax, which was charged): 12.74, 3.99, 10.99, 1.99, 4.27, 1.99, 9.99 (there is one), 12.99, 8.99 and 1.99.
    Jul 10, 2013. 02:35 PM | 1 Like Like |Link to Comment
  • Copa Holdings: Uniquely Positioned Panamanian Airliner Priced For 50% Gains [View article]
    The Panamanian Balboa is the $US. Panama only makes coins, but you can also use the U.S. coins here. All of the currency is made in the USA. All of the tickets that I've purchased on Copa have been priced in $US.

    If you go to their website the prices are in $US. Puts the currency conversion burden on the buyer.
    Jul 9, 2013. 07:27 PM | 1 Like Like |Link to Comment
  • Copa Holdings: Uniquely Positioned Panamanian Airliner Priced For 50% Gains [View article]
    No more Continental, they were absorbed by United. Copa is part of the Star Alliance with United. My miles from Copa flights go to my United account.
    Jul 9, 2013. 06:41 PM | Likes Like |Link to Comment
  • A Gulf of Mexico energy platform is evacuated, apparently leaking natural gas after Energy Resource Technology reported a "loss of well control" this morning during a temporary plugging operation. ERT was acquired earlier this year by Talos Energy, which is backed by PE firms Apollo Global (APO) and Riverstone. A sheen four miles wide by nearly a mile long is visible on the surface. [View news story]
    This is from the Coast Guard site: http://bit.ly/16ooOlc
    Jul 9, 2013. 05:56 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Getting off after landing isn't anything close to getting off after an emergency landing. All the exits are open, no one is taking their bags out of the overhead bins and people have a sense of urgency. Huge difference.
    Jul 8, 2013. 10:47 AM | 6 Likes Like |Link to Comment
  • Here's Why Linn Energy Isn't Done Dropping [View article]
    In my opinion, it is the structure of the BRY deal that is the largest problem here. LNCO as a C-corp that exists only to receive payments from LINE is also strange and I don't see how LNCO can pay a dividend equal to the LINE distribution as they have been doing (and planned for July).

    There may be some other bargains in oil & gas E&Ps right now as a result of these problems as they are all being taken down. None of the others have initiated a parallel C-corp structure that I am aware of.
    Jul 5, 2013. 11:49 AM | 3 Likes Like |Link to Comment
  • Banco Santander (SAN) has filed to list its car-loan unit Santander Consumer USA as the Spanish banks looks to continue to boost its balance sheet. Santander owns 65% of the subsidiary, while KKR (KKR), Centerbridge Partners and Warburg Pincus own the rest. No details were provided about the timing of the IPO, the valuation or the size. [View news story]
    Well, it used to be a $16/share stock before problems in Spain began in earnest. Dividends vary by quarter, here is a history from their website: http://bit.ly/12hlMwU.

    I take the scrip dividend, additional shares with no Spanish taxes due.
    Jul 5, 2013. 11:43 AM | 1 Like Like |Link to Comment
  • Here's Why Linn Energy Isn't Done Dropping [View article]
    Yes, its getting destroyed again today. Down another 8% right now and it was lower.
    Jul 5, 2013. 10:12 AM | Likes Like |Link to Comment
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