Detroit has become the most populous city to default since Cleveland in 1978 after it missed a $39.7M debt payment on Friday. Overall, Detroit intends to suspend payments on $2B of unsecured debt as part of the plan of Emergency Manager Kevin Orr to turn around the city's horrific finances. Other measures include demanding that unsecured creditors accept a haircut of over 90%, and cutting pensions for active and retired workers. [View news story]
I guess all those union workers will have to work for a wage closer to the private sector, or go the way the Twinkie union workers went. Sorry Detroit you maxed out your CC, over spent for years, made promises you couldn't keep. Time to pay up. (kinda like all the people who promised to pay there mortgages on there 700K McMansions while holding a job that paid 40K a yr.) Let the City burn to the ground. Atleast then the city could sell some nice lakefront property.
Smith & Wesson Holding Corp: Value Trap, Demand Cliff, 50%+ Short Profit [View article]
Just like any investment, your timing is everything. I sold several Guns in the last year that I bought 3-7 years ago and made a nice profit. Took some of that and put it into Physical Silver. Made a little on that, but no where near what I made off the Guns.(percentage basis). Hopefully I'll be buying the guns back from all these people waiting in line for hours to buy when they realize they can't make a profit off it.
Smith & Wesson Holding Corp: Value Trap, Demand Cliff, 50%+ Short Profit [View article]
A gun is not a fad like a Ipod. If you take care of a gun, it will be worth more than you paid for down the road. That Ipod will be worthless scrap in about 18 months.A gun can protect you, provide food, and is worth $$$. I prefer guns as a investment over gold.
A Reuters discussion of the divorce of Continental Resources (CLR -1.2%) CEO Harold Hamm and his ~$11B fortune, and notes Hamm may have to unload a portion of his 68% stake in CLR to raise cash, which could cut his stake to less than 50%. A sale of a large block of CLR shares likely would send the price down, but if Hamm puts more shares onto the market, investors might eagerly snap them up. [View news story]
I thought I read that Hamm's children own a few shares. I doubt Hamm would losse control if his stake dropped below 50% He also owns a few other companies that would probably get sold before the CLR stake.I would buy on any pull back. Actually I buy whenever the price drops below $80.00.
Ill hang on to my Physical til they day I die, then my son can have it. If I never need it so what. Its a great rainy day "insurance policy". I don't have to fil out forms or be told sorry your policy doesn't cover that. Better than a bank account being "Taxed" as well. And lastly I'd rather stare at that shiny metal than a 200 year old portrait of a dead president.
Why These 3 Oil Stocks Are Too Cheap To Ignore [View article]
I Hold STO and bought more this week. I Day trade KOG. I wouldn't hold KOG more than a few days. Very high Completion costs (around 10 Million per well), not much cash and a ton of debt.
Bakken Update: Investment Trends In The Bakken's First Quarter Of 2013, Part III [View article]
I really like your articles, just would like to say one thing. The part were you said all drilling needs to be done before completion work on pads can begin. Some operators such as CLR actually frac some of the wells while the drilling rig is on the same pad drilling. FYI. Thanks again for the article.
Continental Resources (CLR) disclosed in February it was committing $95M to an unnamed oil pipeline, but it turns out the pipeline is a $300M project being developed by a partnership controlled by founder Harold Hamm and his family. Directors say the deal was fully vetted to avoid conflicts of interest, but investors are growing increasingly wary of close ties between energy companies and their executives. [View news story]
Better Harold then some hedge fund. Why would a man as rich as Harold Hamm and have a 70 percent stake in the company do anything to screw CLR. Would seem in his best interest to do what's right.
Bakken Update: Triangle's Accounting Issue Is A Non-Factor [View article]
Not saying TPLM is a good/bad investment. I think its a good trade. I bought in again this am. Easy money when it drops and pops every few days. The second frac spread does seem to add "skin" in the game for them.
KOG may be growing faster than WLL or CLR. I'm not as investor savy as most here. But isnt it easier to go from 10,000 to 20,000 bpd than it is from say 90,000 to 180,000 bpd? But what happens when they run out of land ( 150,000 acres)? WLL has around 900,000 acres and CLR 1,000,000 acres. (Though I would agree that this is not all equal in quality.) TruffelPig how many potential wells do you think KOG would have with 2 Bakken and 2 Three forks per pad? (section 640 Acres) 155,000 /640= 242 Sections * 4 wells per Section= 968 Wells. Now the average Rig is drilling a well in 25 days(pad drilling) so....1 rig can drill around 14.6 wells a year. and there running 7 rigs. 7x14.6 so 102 wells a year. Around 9.4 years of drilling. but if the average falls to 2 wells per section then your down to 5 years. And some sections only have 1 well ! (others may have up to 6) KOG has maybe 5 years of acreage left. Then what? I guess they could buy more acreage at a outrageous price. This is what I ment about having entered the play early and secured cheap mineral rights. Its very expensive now. CLR & WLL have a lot of cheap land yet to develope.
KOG misses on EPS again....... TruffelPig just about anyone can go to the Bakken and spend money(alot) and get oil out of the ground. Only handful have the secret recipe. Location, Cheap leases, Low Costs, and sound infastructure. KOG has Good Locations...thats about it. Was KOG buying up acreage in 2004?? at 50 or 100 a acre ? Nope. WLL was. Does KOG have low completion costs under 8.5 million while still using Ceramic? Nope. CLR does. CLR,WLL both have excellent infastructure to sell Gas, and haul Crude to market for the best price by rail.
The Bakken Is Screaming With Takeover Targets [View article]
rlp2451- When I use the word Yard I mean Facility. (Yard is slang). Yes these Facilities have Chemical storage/ loading off loading. Bulk Cement. Frac Chemicals,Mechanics and bays to fix equipment. Railroad facilities for sand. I guess what I'm saying is these aren't "Storage" areas. These are enormous. Some are probably 100+ acres. Some are probably supporting 300-1200 employees. I read a press release awhile back that Halliburton was supporting 1500 employees out of the Williston Yard. I've worked in the Bakken for 7 years and it is crazy how much development has gone on. When I first started in the Bakken, that Halliburton yard looked like a storage area. Baker Hughes looked like a Cheap storage building. Now they are huge. Have you seen Halliburton Yards in Grand Junction, Rock Springs or Casper? The Williston Yard is equal or bigger than those. Again just my observation. I don't support any investment.
The Bakken Is Screaming With Takeover Targets [View article]
Rip2451 most of those projects are completed. Williston area -Halliburton yard is done, Baker Hughes/BJ services yard is done. both also completed yards in Dickinson. I don't know about Baker in Minot but Halliburton has another enormous yard still being built there. Schlumberger built a very large yard in Williston recently as we'll. XTO has a facility in Sidney Montana. Weather ford has a huge yard just south of the Halliburton yard in Williston. there are some smaller yards as well ie PumpCo, Sanjel, Superior and Rockpile. Not taking sides just confirming that yes these projects do exist. I've been inside everyone except XTO at some point.
Detroit has become the most populous city to default since Cleveland in 1978 after it missed a $39.7M debt payment on Friday. Overall, Detroit intends to suspend payments on $2B of unsecured debt as part of the plan of Emergency Manager Kevin Orr to turn around the city's horrific finances. Other measures include demanding that unsecured creditors accept a haircut of over 90%, and cutting pensions for active and retired workers. [View news story]
Smith & Wesson Holding Corp: Value Trap, Demand Cliff, 50%+ Short Profit [View article]
Smith & Wesson Holding Corp: Value Trap, Demand Cliff, 50%+ Short Profit [View article]
A Reuters discussion of the divorce of Continental Resources (CLR -1.2%) CEO Harold Hamm and his ~$11B fortune, and notes Hamm may have to unload a portion of his 68% stake in CLR to raise cash, which could cut his stake to less than 50%. A sale of a large block of CLR shares likely would send the price down, but if Hamm puts more shares onto the market, investors might eagerly snap them up. [View news story]
Are The Gold Bugs Wrong? [View article]
Bakken Update: Top Eagle Ford Wells Of All Time Are Moving To The Bakken Part II [View article]
Why These 3 Oil Stocks Are Too Cheap To Ignore [View article]
Bakken Update: Investment Trends In The Bakken's First Quarter Of 2013, Part III [View article]
Continental Resources (CLR) disclosed in February it was committing $95M to an unnamed oil pipeline, but it turns out the pipeline is a $300M project being developed by a partnership controlled by founder Harold Hamm and his family. Directors say the deal was fully vetted to avoid conflicts of interest, but investors are growing increasingly wary of close ties between energy companies and their executives. [View news story]
Bakken Update: Triangle's Accounting Issue Is A Non-Factor [View article]
I bought in again this am. Easy money when it drops and pops every few days. The second frac spread does seem to add "skin" in the game for them.
5 Undervalued Bakken Plays [View article]
5 Undervalued Bakken Plays [View article]
The Bakken Is Screaming With Takeover Targets [View article]
The Bakken Is Screaming With Takeover Targets [View article]
both also completed yards in Dickinson. I don't know about Baker in Minot but Halliburton has another enormous yard still being built there. Schlumberger built a very large yard in Williston recently as we'll. XTO has a facility in Sidney Montana. Weather ford has a huge yard just south of the Halliburton yard in Williston. there are some smaller yards as well ie PumpCo, Sanjel, Superior and Rockpile. Not taking sides just confirming that yes these projects do exist. I've been inside everyone except XTO at some point.
The Keystone XL Pipeline Being Delayed Until Late 2015 Is Good For Canada [View article]