BAK - Investing | Stock Discussion Forums

Strategies & Market Trends | BAK - Investing

Previous 10 | Next 10

To: Covenant who wrote (1820)

4/12/2012 12:06:03 PM

From: Covenant

of 3144

Re: One Buck Chuck inches down

The good news is bad storage news isn't getting worse.

5 Yr. Avg -144....Last year -138......This year -95.....January 6, 2012
5 Yr. Avg -162....Last year -243......This year -87.....January 13, 2012
5 Yr. Avg -156....Last year -174......This year -192.....January 20, 2012
5 Yr. Avg -192....Last year -189......This year -132.....January 27, 2012
5 Yr. Avg -197....Last year -209......This year -78.....February 3, 2012
5 Yr. Avg -165....Last year -233......This year -127.....February 10, 2012
5 Yr. Avg -150....Last year -81........This year -166.....February 17, 2012
5 Yr. Avg -117....Last year -85.........This year -82.....February 24, 2012
5 Yr. Avg -106....Last year -71.........This year -80.....March 8, 2012
5 Yr. Avg -60......Last year -56.........This year -64.....March 15, 2012
5 Yr. Avg -12......Last year -6...........This year +11.....March 22, 2012
5 Yr. Avg -7........Last year +12.........This year +57.....March 29, 2012
5 Yr. Avg +7........Last year -45.........This year +42.....March 29, 2012
5 Yr. Avg +29........Last year +28.........This year +8.....March 29, 2012

americanoilman.homestead.com

Natural Gas (Henry Hub) Physical Future

Contract Overview
May 12 (NGK2)
Last	2.039
Net Change	+0.055
Prior Settle	1.984
High	2.069
Low	1.976
Volume	58498

datasuite.cmegroup.com

Released: April 12, 2012 at 10:30 a.m. (eastern time) for the Week Ending April 6, 2012.
Next Release: April 19, 2012

Working Gas in Underground Storage, Lower 48

other formats: Summary TXT CSV

RegionStocks in billion cubic feet (Bcf)Historical Comparisons04/06/1203/30/12ChangeYear Ago (04/06/11)5-Year (2007-2011)AverageStocks (Bcf)% ChangeStocks (Bcf)% ChangeEastWestProducingTotal

1,092

1,085

621

75.8

664

64.5

353

349

221

59.7

244

44.7

1,042

1,045

-3

757

37.6

659

58.1

2,487

2,479

1,599

55.5

1,567

58.7

Notes and DefinitionsReclassifications from one or more respondents in the Producing Region resulted in lowering working gas stocks by approximately 10 Bcf for the week ending April 6, 2012.

Beginning with the report period for the week ending March 16, 2012, EIA is including salt dome and nonsalt-dome subtotals for the Producing Region in the “Summary” section. The sum of the components may not equal the total for the Producing Region, because of independent rounding.

Summary
Working gas in storage was 2,487 Bcf as of Friday, April 6, 2012, according to EIA estimates. This represents a net increase of 8 Bcf from the previous week. Stocks were 888 Bcf higher than last year at this time and 920 Bcf above the 5-year average of 1,567 Bcf. In the East Region, stocks were 428 Bcf above the 5-year average following net injections of 7 Bcf. Stocks in the Producing Region were 383 Bcf above the 5-year average of 659 Bcf after a net withdrawal of 3 Bcf. Stocks in the West Region were 109 Bcf above the 5-year average after a net addition of 4 Bcf. At 2,487 Bcf, total working gas is above the 5-year historical range.

Working gas stocks in the Producing Region, for the week ending April 6, 2012, totaled 1,042 Bcf, with 258 Bcf in salt cavern facilities and 784 Bcf in nonsalt cavern facilities. Working gas stocks decreased 2 Bcf in the salt cavern facilities and decreased 2 Bcf in the nonsalt cavern facilities, since March 30. Reported reclassifications from working to base gas from one or more respondents resulted in lowering working gas levels approximately 10 Bcf in the nonsalt facilities, from 794 Bcf to 784 Bcf, for the week ending April 6, 2012. An historical series of the salt and nonsalt subtotals of the Producing Region, dating back to January 7, 2011, is available for download at: wngsr_producing_region_salt.xls.

Note: The shaded area indicates the range between the historical minimum and maximum values for the weekly series from 2007 through 2011.
Source: Form EIA-912, "Weekly Underground Natural Gas Storage Report." The dashed vertical lines indicate current and year-ago weekly periods.

ir.eia.gov

Recommend | Keep | Reply | Mark as Last Read | Read Replies (2)

To: Covenant who wrote (1850)	4/12/2012 12:14:26 PM
From: Covenant	of 3144

Re: Bankers begin delivering coup de grace to NG drillers This is just the warning shot. Next borrowing base adjustment will effect more companies and be more severe. Those who aren't far enough along in the switch from gas to oil will be faced with unattractive options: austerity or dilution, presumably at low prices. Gas producers at risk of lending squeeze: analysts Compton the first to face borrowing base drawdown this spring BY REBECCA PENTY, CALGARY HERALD APRIL 10, 2012 CALGARY — The gassiest producers in the oilpatch could face banks turning down the taps on lending as institutions apply their own dismal natural gas pricing forecasts to borrowing bases, analysts said following the spring revision’s claim of its first victim, Compton Petroleum Corp. Calgary-based Compton, an intermediate whose production is 83 per cent natural gas, must repay $30 million in outstanding debt resulting from a credit drawdown by May 7, the company announced Monday. Compton’s syndicate of lenders revised lower the firm’s maxed-out credit facility of $140 million to $110 million, which the company blamed largely on a lower gas price outlook from the banks. As lenders assess annual third-party reserve reports from producers, they’re applying their own price outlook on natural gas in the ground. The risk is they assume reduced ability to generate cash flow from production, in turn scaling down the available debt backed by those assets. Banks typically do reviews twice a year, in the spring and fall, and 2012 has ushered in the lowest gas prices in a decade. Alberta’s AECO hub spot price dipped below $2 per gigajoule in late February — less than half a high last June of $4.15 per gigajoule — and has stayed there since the beginning of March on a glut in North American gas supply. “This discussion is probably going on all over town,” said research analyst Gordon Currie of Salman Partners Inc. “In my view, anybody that’s at 50 per cent gas-weighted or more is in some jeopardy here,” he said, speculating that producers at risk could include Progress Energy Resources Corp., ARC Resources Ltd., Bonavista Energy Corp. and NuVista Energy Ltd. Even worse, Currie warned, reserves could be revised down from current levels as low gas prices mean some of the discovered resource is uneconomic to produce. A retraction of available credit is a symptom of a “big issue” facing executives in Calgary office towers and investors, the precipitous decline in natural gas prices smacking energy-related equities, said Garey Aitken, chief investment officer at Bisset Investment Management. “In all likelihood we’re going to see, with a lower price deck being used by bank engineers in many cases, a reduction of borrowing bases,” Aitken said. Aitken noted Compton might be an “extreme case,” as another producer might be far from tapping out its borrowing base, even with a slash to the limit it can draw down. The news from Compton follows a previous reduction in the firm’s credit facility announced in January — by $20 million, to $140 million. Skope Energy Inc., a junior gas-weighted producer, had its borrowing base cut for a second time in January. Compton lowered its production outlook by eight per cent this week and cut the upper end of its capital spending for 2012 by $2 million, to a range of $14 million to $16 million. It also said it hired RBC Capital Markets as an external adviser last month to attempt to raise money through asset sales and/or equity financing. The options could include a transaction for which Compton’s roughly $500 million in tax pools might offset taxes, said Susan Soprovich, director of investor relations, who stressed the company’s assets have not changed. “This is not a Compton issue, this is a natural gas issue,” Soprovich said. Compton underwent more than two years of recapitalization before its entire management team quit last December. In February, the company appointed as president and CEO Ted Bogle, the director who had stepped in following the resignation of predecessor Tim Granger. Shares of Compton closed at a 52-week low of $2.41 Tuesday, down 23 cents, after losing 33 per cent of their value on Monday. rpenty@calgaryherald.com

Share	Recommend \| Keep \| Reply \| Mark as Last Read \| Read Replies (1)

To: XoFruitCake who wrote (1838)	4/12/2012 1:01:54 PM
From: thatsnotluck	of 3144

Re: AAPL Question for XO <<And life after earning is anyone guess given the low guidance the company gave in Jan earning call ($8.5 vs $9.8 concensus of 45 analyst vs $12 fruitcake estimate) >> so if they hit the XO $12 number, how much of a bump do you expect to stock price? and can they really be that far off in their estimate? sounds like the street is already assuming they sandbag by 15% give or take, and you think the numbers will be 20% higher than the analysts? do they regularly blow out guidance numbers? toying with doing something here. not sure yet just what, other than it being a small test, whataver it is.

Share	Recommend \| Keep \| Reply \| Mark as Last Read \| Read Replies (1)

To: thatsnotluck who wrote (1842)	4/12/2012 1:14:03 PM
From: Covenant	1 Recommendation of 3144

Re: Shell oil slick in GOM ... Shares down "A thorough inspection to date of Shell assets reveals operations in the area are normal with no signs of leaks," Natural seep like Macondo. Shell Says No Signs Of Leak in Its US Gulf Operations by Dow Jones Newswires Ben Lefebvre & Isabel Ordonez Thursday, April 12, 2012 HOUSTON - Royal Dutch Shell PLC said that an oil sheen floating in the central U.S. Gulf of Mexico didn't stem from two nearby oil and gas platforms owned by the oil giant, and that the amount of oil in the sheen was small. "A thorough inspection to date of Shell assets reveals operations in the area are normal with no signs of leaks," Shell spokeswoman Kelly op de Weegh said in an e-mailed statement Thursday. The comments seemed to ease investors' concerns that the Anglo-Dutch company was mired in a major environmental catastrophe; shares in London, which were down nearly 4% early Thursday at 2,100 pence, were back up to 2,175 pence after the Shell update. Shell shares in the U.S., which opened 1.5% below their Wednesday close, were up 0.5% at $68.07 in mid-morning trading. On Wednesday, Shell spotted a five-square-mile oil sheen in the Gulf's Mississippi Canyon area, according to a filing with the National Response Center. The company said in a statement later that day that a 10-square mile layer of an unknown substance was floating between its Mars and Ursa platforms, which are some of the largest producing facilities in the U.S. Gulf. They are located about 130 miles southeast of New Orleans. In September 2005, Mars was heavily damaged by hurricane Katrina, but restarted service in mid-2006. Shell said it confirmed that there are "no well control issues" associated with its drilling operations in the area. The company said it is still investigating the sheen, which is estimated to measure the equivalent of six barrels of oil, and will leave the oil-response vessel it dispatched Wednesday in the area. Shell has also deployed remote-operating vehicles to inspect local infrastructure, and also look for naturally occurring seeps. The U.S. Coast Guard said that it is conducting a flight over the area and that it expects to release results of the observation before noon. Nearly two years ago, a Transocean Ltd. rig working for BP PLC in the U.S. Gulf blew up after it lost control of the deepwater well it was drilling, killing 11 and unleashing the worst offshore oil spill in U.S. history. The unprecedented incident resulted in an overhaul of offshore-drilling regulations and increased vigilance about oil spills in the region.

Share	Recommend \| Keep \| Reply \| Mark as Last Read \| Read Replies (1)

From: Covenant	4/12/2012 1:53:10 PM
	of 3144

Re: Reddy Ice to buy bankrupt Arctic Glacier, file bankruptcy itself Creditors are doing an industry rollup. April 12, 2012, 8:50 am Reddy Ice to File for Bankruptcy By BEN PROTESS Reddy Ice, the largest manufacturer and distributor of packaged ice in the United States, said on Thursday that it expected to file for bankruptcy as it confronted a huge debt load, stiffer competition and broader economic uncertainty. The company, based in Dallas, also plans to acquire another embattled ice maker, Arctic Glacier, which filed for bankruptcy in February. Centerbridge Partners, a hedge fund that is a major creditor of Reddy Ice, has “indicated its interest” in financing the acquisition, Reddy Ice said in a regulatory filing on Thursday. Macquarie Bank, meanwhile, is expected to provide a $70 million debtor-in-possession revolving credit facility. The credit will address the company’s capital needs while in bankruptcy, and provide $50 million once Reddy Ice emerges from Chapter 11 proceedings. In a statement, Reddy Ice said it would file for bankruptcy “promptly” in the United States Bankruptcy Court for the Northern District of Texas. It plans to seek approval from the court to emerge from bankruptcy in 45 days or less. The company said it did not expect the bankruptcy process to disrupt its business operations. ”We expect to emerge from this restructuring as a much stronger company that is well positioned for investment in growth and enhanced profitability,” Gilbert M. Cassagne, the company’s chief executive officer and president, said in a statement. Still, the company faces a challenging road to recovery. It lost nearly $70 million last year, on top of more than $40 million in losses in 2010. The company suffered as its prices declined amid deeper industry competition, and racked up a mounting debt load. It currently has $516 million in liabilities. The company was delisted from the New York Stock Exchange in December after its stock price failed to meet the exchange’s listing requirements. Reddy Ice said in recent months that it had formed an informal committee of creditors to renegotiate and restructure the company’s debt burden. A majority of lenders and major creditors support the restructuring plan, Reddy Ice said on Thursday. The company’s legal advisor is DLA Piper, while its financial advisers are Jefferies & Company and FTI Consulting.

Share	Recommend \| Keep \| Reply \| Mark as Last Read

Previous 10 | Next 10