Low Natural Gas Prices Weigh Heavily On Encana [View article]
I think Suttles is going to shake things up a bit. I think corporate boards are growing tired of the same old same old b.s. excuses about commodity price deflation and "challenging economic conditions" from the C-Suite.
The Paradigm Shift Has Begun - This Isn't Going To Be Pretty [View article]
I don't know if its "back off" as much as it is "Crap, all we've done is created yet another asset class bubble and not moved the broader American economy forward at all". It's not unlike whenever David Tepper goes on CNBC to talk "up" the market. Translation there being: "God these naked options strategies are complex...I hope I haven't screwed something up". "I know!!!! I'll just go on CNBC and talk up the markets". "If I get a spot on a Tuesday show that will ensure I can liquidate these b.s. trades". "Markets aren't aloud to go down on Tuesdays".
Penn West Cuts Dividend And Hires A New CEO [View article]
TimeOnTarget. You are largely correct the [WTI - WCS] spread has come in a bit albeit from a fairly wide level. The oil by rail movement and increased refining capacity of WCS is the reason.
Penn West Cuts Dividend And Hires A New CEO [View article]
I agree with Uncle Pie about Baytex but I just want to make a few comments. I wrote some of these on another thread. George and Markin are veteran Oilmen with really good track records. They obviously see something we don't and have moved quite quickly to change things around. I did not see Nunns' "retirement" as a surprise at all and was calling for him to be sacked by the new board months ago. I figure that with their track record...George and Markin turn the company around quickly and set it up for a sale. It's easy to get lost in a company of this size on per barrel flow metrics. Me thinks the key is not losing site of the fact that George and Markin basically came out of "retirement" to turn this company around because they think [know] they CAN turn the company around. Both men have a lot of money and very good reputations so while I agree with Baytex...I would say that on a go forward basis I'd probably want Penn West versus Penn Growth. Give this a year and George and Markin will move on to clean house at Penn Growth next.
Penn West's New All-Star Board Member Aggressively Buying Shares [View article]
Veteran Oil Execs...probably see something rest of the market doesn't. This will be a quicker turn around than some people might suspect. The more I think about Penn West the more I think it's time to load up. George and Markin are obviously setting up a sale. And I think Rick George is really calling the shots. I don't know much about the new CEO but figure he's probably a "care taker" CEO that presides over the Company's sale.
Penn West's New All-Star Board Member Aggressively Buying Shares [View article]
Well so far I've been right about this company. Only thing for me to figure out is if it takes another ride to the 52-week Low. THAT would be a great entry point given the NAV and my thesis that Markin and George are likely to clean up the company and then list it for sale. I personally believe that Brent takes a breathier over the summer global economy is just not strong enough. WTI...harder for me to say...don't really feel I have a good handle on what goes on there.
Penn West's New All-Star Board Member Aggressively Buying Shares [View article]
For me the big issue is how to play this turnaround. Again to re state my theory...
George and Markin are very rich men. They are going to load on on stock. Clean house. Set the company up for a sale. Pocket a small fortune. "Retire" Come back in a few months to do this again.
Penn West's New All-Star Board Member Aggressively Buying Shares [View article]
I don't think you're missing anything Harptree. George and Markin joined in [early] May. The [then] share price of Penn West was below $10 a slice...Markin being a rich man...loaded up. A DIV cut at this stage is a POSITIVE thing given how badly the stock has performed.
I talked about this earlier and my thinking is they really do the following:
1. Clean the company up. 2. Set it up for a sale. 3. "Retire" again [note quotes] as even wealthier men. 4. Resurface 3-6 Months later at another beaten and battered former CANROY.
Pricing MannKind Corporation On A Stand-Alone Basis [View article]
Penn West Cuts Its Dividend, But The Market Is Focused On Big Insider Buying [View article]
Penn West Cuts Its Dividend, But The Market Is Focused On Big Insider Buying [View article]
Low Natural Gas Prices Weigh Heavily On Encana [View article]
The Paradigm Shift Has Begun - This Isn't Going To Be Pretty [View article]
Penn West Cuts Dividend And Hires A New CEO [View article]
Penn West Cuts Dividend And Hires A New CEO [View article]
Penn West Cuts Dividend And Hires A New CEO [View article]
George and Markin are veteran Oilmen with really good track records. They obviously see something we don't and have moved quite quickly to change things around. I did not see Nunns' "retirement" as a surprise at all and was calling for him to be sacked by the new board months ago. I figure that with their track record...George and Markin turn the company around quickly and set it up for a sale. It's easy to get lost in a company of this size on per barrel flow metrics. Me thinks the key is not losing site of the fact that George and Markin basically came out of "retirement" to turn this company around because they think [know] they CAN turn the company around. Both men have a lot of money and very good reputations so while I agree with Baytex...I would say that on a go forward basis I'd probably want Penn West versus Penn Growth. Give this a year and George and Markin will move on to clean house at Penn Growth next.
Penn West's New All-Star Board Member Aggressively Buying Shares [View article]
Penn West's New All-Star Board Member Aggressively Buying Shares [View article]
Penn West's New All-Star Board Member Aggressively Buying Shares [View article]
George and Markin are very rich men.
They are going to load on on stock.
Clean house.
Set the company up for a sale.
Pocket a small fortune.
"Retire"
Come back in a few months to do this again.
Penn West's New All-Star Board Member Aggressively Buying Shares [View article]
I talked about this earlier and my thinking is they really do the following:
1. Clean the company up.
2. Set it up for a sale.
3. "Retire" again [note quotes] as even wealthier men.
4. Resurface 3-6 Months later at another beaten and battered former CANROY.
My two barrels of oil equivalent per day...
Pengrowth Energy And Penn West Petroleum: Not In-Sync With Oil & Gas Prices [View article]
Murray Nunns gone.
Dividend cut.
HOWEVER...stock's up. Great Assets. Company now saying it's up for sale.
Shares are roughly 55% of NAV so could be a nice trade.
Pengrowth Energy And Penn West Petroleum: Not In-Sync With Oil & Gas Prices [View article]
The Optimum Asset Allocation To Gold Is Always Zero [View article]