Cramer's Lightning Round - There Is Tupperware And There Is Everyone Else (6/17/13) [View article]
Not applicable if held in a tax deferred IRA, SEP, Roth, etc. Also, not an issue at all to complete a Form 1116 and he doesn't usually mention any tax implications when he discusses other foreign stocks. Seems an odd comment from an expert.
OGX Petroleum’s (OGXPY.PK) bonds are plunging, a sign that investors are bracing for what would be the biggest company default in Latin America as controlling shareholder Eike Batista struggles to raise cash. OGX is set to run out of money in about a year at its burn rate as slumping production puts output goals out of reach, even after Batista pumped in nearly $1B. [View news story]
Time to run screaming away from investments in Brazil. If OGX can't make it then its hard to see others making it there until the government gets out of the oil business.
Penn West (PWE +3.9%) is poised to break up to boost a valuation that's weaker than 99% of its peers, after recently overhauling management, Bloomberg writes. PWE has many high-quality assets, and analysts support separating PWE into two businesses, one focused on assets with growth potential and the other on properties whose predictable production would allow for an attractive dividend. [View news story]
So an income company and a growth company? I like the idea at least. Great assets but they need to get them to market so how about merging with a rail company? Just a thought.
The breakeven price for Statoil's (STO -0.7%) Barents Sea oil field Johan Castberg has risen to $85/bbl vs. a previous estimate of $71, Wood Mackenzie says after STO's surprise decision to delay the project due to higher costs. "When a field that contains 500M barrels isn't profitable, it's worrisome," another analyst says. "It's a warning call about the sector's cost development." [View news story]
Not so much about the sector's cost but more about the cost of doing business in Norway.
Petrobras (PBR -2.5%) and Electrobras (EBR -4.3%) shares are weak after Standard & Poor's lowers its ratings outlook on both Brazilian companies to negative from stable while affirming its respective BBB and A- credit ratings. The outlook revision reflects its similar action on the outlook of Brazil's sovereign rating and the companies' close ties as government-related entities. [View news story]
Sure I want to invest in a Brazillian government owned company!!! NOT!!!
All aspects of the offshore business look good for the next few years. Sdrl, rig, PACD, ESV, all look strong. Hard to believe that the market hasn't driven the stocks far higher.
More on Transocean's (RIG) Q1 results: Net income soared to $321M from $10M a year ago, when it took a big charge on the value of its fleet, but missed estimates as some of its rigs could not work due to a third-party equipment problem. Operating and maintenance expenses rose 11%. Average daily revenue rose 0.9% Y/Y but fell 5.4% Q/Q. Fleet utilization rate was 80% vs. 74% in the prior year. Shares -1% AH. [View news story]
evan Heaps is the man this year. I think RIG can afford a little more but I prefer to see something below $3 for the dividend. I like the utilization as well. Take the bolts out of the qtr and its not too darn bad.
uncmoish is way out of hand. no cause for this comment above. the accident at Macondo is just that. A horrible accident. Time to put it to rest.
More on Transocean's (RIG) Q1 results: Net income soared to $321M from $10M a year ago, when it took a big charge on the value of its fleet, but missed estimates as some of its rigs could not work due to a third-party equipment problem. Operating and maintenance expenses rose 11%. Average daily revenue rose 0.9% Y/Y but fell 5.4% Q/Q. Fleet utilization rate was 80% vs. 74% in the prior year. Shares -1% AH. [View news story]
This can be laid right at GE's doorstep. Bad bolt. The other drillers have all been affected as well. I view this as a short term hiccup. Overall performance is good. Add back in the lost time due to the third party bolt problem and this looks like a damn good Q.
Enerplus: Can The Company Sustain Current Dividends? [View article]
In my opinion Enerplus as many of the other Canadian oils are all about the asset in the ground. As the Alberta spread narrows and transportation infrastructure improves to Cushing and to Kitimat I fully expect to see ERF, BTE, PGH, SU, PWE and many others start to move significantly higher. Canada has already said it will act in its own best interests to find World outlets for its oil if the US does not build the pipelines necessary to get that oil to the Gulf Coast refiners.
Penn West: A Play On Keystone Pipeline And Improving Commodity Prices [View article]
Here is a link to the EIA site with several analyses of oil transport mechanisms. The studies show that rail transport is way up over the last few years. I hold PWE and several other Canadian oils. They will eventually start moving up to better reflect their asset values.
Cramer's Lightning Round - There Is Tupperware And There Is Everyone Else (6/17/13) [View article]
Cramer's Lightning Round - There Is Tupperware And There Is Everyone Else (6/17/13) [View article]
Bailing Out Of Brazil [View article]
OGX Petroleum’s (OGXPY.PK) bonds are plunging, a sign that investors are bracing for what would be the biggest company default in Latin America as controlling shareholder Eike Batista struggles to raise cash. OGX is set to run out of money in about a year at its burn rate as slumping production puts output goals out of reach, even after Batista pumped in nearly $1B. [View news story]
Penn West (PWE +3.9%) is poised to break up to boost a valuation that's weaker than 99% of its peers, after recently overhauling management, Bloomberg writes. PWE has many high-quality assets, and analysts support separating PWE into two businesses, one focused on assets with growth potential and the other on properties whose predictable production would allow for an attractive dividend. [View news story]
The breakeven price for Statoil's (STO -0.7%) Barents Sea oil field Johan Castberg has risen to $85/bbl vs. a previous estimate of $71, Wood Mackenzie says after STO's surprise decision to delay the project due to higher costs. "When a field that contains 500M barrels isn't profitable, it's worrisome," another analyst says. "It's a warning call about the sector's cost development." [View news story]
Petrobras (PBR -2.5%) and Electrobras (EBR -4.3%) shares are weak after Standard & Poor's lowers its ratings outlook on both Brazilian companies to negative from stable while affirming its respective BBB and A- credit ratings. The outlook revision reflects its similar action on the outlook of Brazil's sovereign rating and the companies' close ties as government-related entities. [View news story]
Annaly Capital Is On Sale Now [View article]
Seadrill's CEO Discusses Q1 2013 Results - Earnings Call Transcript [View article]
Transocean (RIG): Q1 EPS of $0.93 misses by $0.08. Revenue of $2.19B (-5.5% Y/Y) misses by $130M. (PR) [View news story]
More on Transocean's (RIG) Q1 results: Net income soared to $321M from $10M a year ago, when it took a big charge on the value of its fleet, but missed estimates as some of its rigs could not work due to a third-party equipment problem. Operating and maintenance expenses rose 11%. Average daily revenue rose 0.9% Y/Y but fell 5.4% Q/Q. Fleet utilization rate was 80% vs. 74% in the prior year. Shares -1% AH. [View news story]
uncmoish is way out of hand. no cause for this comment above. the accident at Macondo is just that. A horrible accident. Time to put it to rest.
More on Transocean's (RIG) Q1 results: Net income soared to $321M from $10M a year ago, when it took a big charge on the value of its fleet, but missed estimates as some of its rigs could not work due to a third-party equipment problem. Operating and maintenance expenses rose 11%. Average daily revenue rose 0.9% Y/Y but fell 5.4% Q/Q. Fleet utilization rate was 80% vs. 74% in the prior year. Shares -1% AH. [View news story]
Transocean (RIG): Q1 EPS of $0.93 misses by $0.08. Revenue of $2.19B (-5.5% Y/Y) misses by $130M. (PR) [View news story]
Enerplus: Can The Company Sustain Current Dividends? [View article]
I am long ERF, PGH, PWE, and PBA in Canada.
Penn West: A Play On Keystone Pipeline And Improving Commodity Prices [View article]
http://1.usa.gov/11z9rac