Seeking Alpha

dogspot

dogspot
Send Message
View as an RSS Feed
View dogspot's Comments BY TICKER:
Latest  |  Highest rated
  • Seadrill Shareholders Should Be Patient [View article]
    i recall the first day the shares were listed domestically. seems it was all about praising the founder: a new venture into a growing niche market, starting with its own seed money and capital. never saw anything like it. common stock at par value, additional paid in capital in excess of par, cash. monster steel machines. didn't the Norse sail west to the new world? was it for riches and adventure, or required at a point of economic inflection?
    Jul 9, 2015. 03:38 PM | 4 Likes Like |Link to Comment
  • Seadrill's Biggest Threat Isn't Debt, It's Oil Prices [View article]
    read recently that freight cost was at a record high. don't know number of avail. units but trend seems to be to super big. even with throughput vol. up, based on price, many may sit full waiting for, either, a contract or price increase.
    Jul 7, 2015. 09:50 PM | 1 Like Like |Link to Comment
  • Noble And Transocean: A Tale Of Two Drillers [View article]
    read 95% of above. one seems a fixer upper, the other significantly ahead. holding older equipment idling seems like a hedge. the sudden drop in benchmark pricing last year could have occurred much earlier and was a loss leader pulling neighboring competitors along.
    Jun 29, 2015. 11:24 PM | Likes Like |Link to Comment
  • What Could Hold Back Valero Energy? [View article]
    responding to King: i don't know exactly what type of gue they are able to process, but it is my guess that domestic gue is readily avail at discount, despite recent and current cuts in gue production and distribution by domestic extractors. the capacity to utilize stored material pre-sold or spot is probably available as well, despite any seasonal impact in existing demand. this is my current view of the macro.
    Jun 25, 2015. 06:16 PM | Likes Like |Link to Comment
  • Why Noble Corp.'s Recent Rally Might Not Last Long [View article]
    huh? sales budget-chk, cash budget-chk, capex budget-chk, cashflow budget based on projected NI noncash charges DEP exp. net receivables less dividend out??? I guess. With a normal cashflow statement, most would just cut the dividend out, if in a cash jam. Burning through cash usually occurs when their is already zero NI.
    Jun 24, 2015. 05:38 PM | Likes Like |Link to Comment
  • Seadrill Ltd. Agrees To Sell The West Polaris To Seadrill Operating LP For A Total Value Of $750 Million [View article]
    you have to start somewhere. conservation of earnings by the LP if allowed, can be seen as holding a put on the pricing market. here's another one if allowed: accelerated depreciation, in a high margin environment. the countervailing considerations based on future pricing harkens to arms length activity. still
    appears a lot of product on the market.
    Jun 18, 2015. 12:35 AM | Likes Like |Link to Comment
  • Should Noble Corporation Follow Its Peers In Cutting The Dividend? [View article]
    it is my understanding that a DS is specialized equipment that commands a premium margin. currently, a JU can be purchased from the scrap yard, but yield a lower or non-existent margin. a fine new DS cost $650, slightly used in a way down market seems like a nice asset to own, provided funding (or cash) is readily available.
    Mar 11, 2015. 12:05 AM | 1 Like Like |Link to Comment
  • Seadrill says it's bracing for two more years of rig market pain [View news story]
    seems to me that when you acquire a company you assume the existing debt. this is how they poison themselves, to prevent take-over. now if you want to broker the assets, buy the company and sell off redundant parts, while calling the debt if possible. but this would be for an operator that is flush with cash and needs the equipment. most operators already have large orders with little prospects, currently.
    Mar 8, 2015. 09:59 PM | 1 Like Like |Link to Comment
  • Should Noble Corporation Follow Its Peers In Cutting The Dividend? [View article]
    all of these small companies are afraid they will be consumed by bigger fish if they are not always leveraged out to maximize earning power. small thinkers. should this company not be 100% positive about its growth (contract) prospects: it should reduce any unnecessary expenditures, including a bloated dividend while this market is negative on the future of the sector, and call any available debt. seems to me they can always, reissue, should activity remain punk long term, to buy additional existing assets.
    Mar 7, 2015. 11:24 PM | Likes Like |Link to Comment
  • Untangling Seadrill's Complicated Debt Structure [View article]
    last time i saw one of these the investment was recorded on the b/s in Other or minority interest based on assumed control or ownership percentage.certainly, 70% is not minority and normally consolidated. now as to Other asset impairment, back then you didn't just write assets down and then up annually. the carrying value of the investment would be based on current market value on date of spin less any impairments to actual CV the prior day. if the asset is spun along with debt for added operating capital (current assets), this represents the Goodwill that brings in the minority % shareholders, upping the operating results long term with borrowed money. in a high gross margin or contribution margin business this boosts returns. expected permanent asset impairment for (loss on investment) would be much smaller if the liabilities from the financial leverage were closer to zero and the business just froze. this would bring the assets to more closely equal equity.
    Mar 6, 2015. 10:43 PM | Likes Like |Link to Comment
  • Another Reason Investors Should Not Buy Seadrill's Stock [View article]
    lol, with all due respect to the author: perhaps the company can buy back shares with the proceeds of a debt offering.
    Mar 2, 2015. 07:04 PM | 1 Like Like |Link to Comment
  • Seadrill: Don't Worry, Seadrill Will Make It Through A Sector Downturn [View article]
    in a big poker game add in an escalator clause tied to market price of unit volume produced. this will compensate for any increase in duration at lower base rates.
    Feb 28, 2015. 10:55 PM | Likes Like |Link to Comment
  • Seadrill Limited: Commentary On Q4 And Full-Year 2014 Results [View article]
    interesting comments on global oil pricing. we all have pet projects--to keep the lights on: xl, lng in LA., fracking, oil sands, wind mills, solar, north pole drilling, drilling with penguins etc. develop a $1t pot and back hand small land drillers? maybe. i find it difficult to assess how pricing could stay at >$90 for so long, then instantly, free fall. was brent being precisely rationed prior to oct 2014? would require intensive research to place bottleneck at midstream, and retail refiners.
    Feb 28, 2015. 09:22 PM | Likes Like |Link to Comment
  • Dropping It Like It's (Not That) Hot: VLO'S MLP Strategy In Focus [View article]
    wow! I'm looking at the previously mentioned, but don't know how long intact LIFO inventory-- relative to gross input cost, and raw materials on hand. Don't know if thirty days of raw material is a lot, or minimum. Probably, standard materials. Of course, any change in inventory valuation method would really raise my interest.
    Feb 16, 2015. 10:36 PM | Likes Like |Link to Comment
  • Untangling Seadrill's Complicated Debt Structure [View article]
    growth company seeks as much financing as possible to meet large cap-ex expansion needs of growing rev. and earnings. retaining earnings to fund such growth.

    cash generators have stable, limited, rev. and earnings growth, but require little in cap-ex to maintain an existing rev. base.

    maturing companies have established brands and markets, along with existing financing, and revenue streams. as markets or opportunities arise, increasing funding for specific projects is secured beyond established commitments to grow return on capital, or pay out dividends, strengthening the balance sheet.

    pls Pick One
    Jan 15, 2015. 05:52 PM | 1 Like Like |Link to Comment
COMMENTS STATS
28 Comments
9 Likes