| To: jbe who wrote (296) | 4/1/2000 6:03:00 PM | | From: PuddleGlum | | | |
Interesting article. I'm hesitant to change any standards right now just because we suffered so long under the weight of declining or uncertain product prices. Did you notice that e&p stock prices didn't really start rising until oil clearly moved off of its highs? In order to maintain adequate supply these companies have to drill, and those with good reserves today will be precious a year from now.
In the meantime, we may get some buying opportunities in this sector if money flows from here into to tech stocks, which is what I expect for this week. |
| | Strictly: Oil and Gas Exploration Companies | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| To: PuddleGlum who wrote () | 4/3/2000 1:21:00 AM | | From: Jamey | | | |
New 8K filing for Royale Energy(ROYL) Stockholder Letter
Good earnings expected for 4th qtr,99 and 1st qtr., 2000.
Small Cap Ask is $3 1/16
freeedgar.com
Santiago |
| | Strictly: Oil and Gas Exploration Companies | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| To: PuddleGlum who wrote (297) | 4/3/2000 2:17:00 PM | | From: jbe | | | |
Thanks for the response, PG.
Do you know anything about a little e&p outfit called Key Production Co.(KP)? On paper, and to an outsider like myself, it looks awfully good. Solid financials; great growth rate; at top of the heap, in terms of analysts'ratings (4 strong buys); and its price has been going up like a house afire. |
| | Strictly: Oil and Gas Exploration Companies | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| To: jbe who wrote (299) | 4/5/2000 11:44:00 PM | | From: PuddleGlum | | | |
JB-
I haven't followed KP in quite awhile. I track a number of e&p companies, but I own only APC and SFY. APA is one that I have owned and would like to own, but I'm not willing to add to my energy positions at this time. After this morning, that is, since I added some SFY today.
Not that I don't think that things are good for the sector in general, but I use Point & Figure TA, which indicates that many other sectors are due for a bounce, and energy represents a fairly high risk at this point. Note that this is entirely TA, not FA.
pg |
| | Strictly: Oil and Gas Exploration Companies | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| To: Ronald J. Clark who wrote (295) | 4/7/2000 10:55:00 PM | | From: PuddleGlum | | | |
BTW, my last post was a grub. #300.
From oilworld.com:
AGA reported a withdrawal of 5 BCF from the natural gas storage, representing a decrease of 0.1% at 31.3% full or 1,021 BCF ...
Now that was a small draw, to be sure, but it's against builds in each of the last 2 years, so I'm pleased.
pg |
| | Strictly: Oil and Gas Exploration Companies | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (2) |
|
| To: PuddleGlum who wrote (301) | 4/8/2000 7:35:00 AM | | From: Ronald J. Clark | | | |
PG, See note 2 at the bottom of the following table for an explanation of why we only had a 5 BCF draw last week.
AGA Table - April
Weekly change in Gas Storage / Total Working Gas in Storage
(Expressed in Billion Cubic Feet)= B
See also Note at bottom of this table.
2000 1999 1998
1/14 -110B / 2127B 1/15 -203B / 2209B 1/16 -159B / 1860B
1/21 -195B / 2017B 1/22 -92B / 2117B 1/23 -159B / 1701B
1/28 -242B / 1775B 1/29 -78B / 2039B 1/30 -102B / 1599B
2/4 -213B / 1562B 2/5 -93B / 1946B 2/6 -81B / 1518B
2/11 -158B / 1404B 2/12 -59B / 1885B 2/13 -93B / 1425B
2/18 -136B / 1268B 2/19 -97B / 1788B 2/20 -77B / 1348B
2/25 - 74B / 1194B 2/26 -128B / 1660B 2/27 -47B / 1301B
3/3 -37B / 1157B 3/5 -69B / 1591B 3/6 -54B / 1247B
3/10 -31B / 1126B 3/12 -132B / 1459B 3/13 -143B / 1104B
3/17 -62B / 1064B 3/19 -87B / 1372B 3/20 -78B / 1026B
3/24 -43B / 1021B 3/26 -37B / 1335B 3/27 -20B / 1006B
3/31 - 5B / 1031B 4/02 + 2B / 1337B 4/03 +53B / 1059B
4/07 ? 4/09 +30B / 1367B 4/10 +22B / 1081B
4/14 ? 4/16 + 2B / 1369B 4/17 +54B / 1135B
4/21 ? 4/23 + 5B / 1374B 4/24 +64B / 1199B
4/28 ? 4/30 +34B / 1408B 5/01 +78B / 1277B
Note: 1. EIA revised 3/3/2000 draw from original -29B to -37B.
2. In reporting on the week ending 3/31/2000, EIA upwardly revised total storage capacity by 46B (without this revision the draw for the week ending 3/31 would have been 51B). |
| | Strictly: Oil and Gas Exploration Companies | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| To: Ronald J. Clark who wrote (302) | 4/11/2000 9:10:00 PM | | From: Archie Meeties | | | |
Berkley Petroleum Corp. Announces Joint News Release, Update Activities at East Lost Hills
CALGARY, ALBERTA--
Berkley Petroleum provides the following activity update at East Lost Hills;
* Berkley East Lost Hills No. 1 has reached a depth of 19,724 feet and a production liner will be run to total depth. The current status for Berkley No. 1 is a potential gas well.
* The current open hole section, extending from 18,280 feet to total depth, has been wireline logged. A total of 2,474 feet of the Temblor Formation was penetrated by Berkley No. 1, with a net sand interval of 1,410 feet. Net hydrocarbon pay within this interval will be determined via production testing.
* Natural gas and condensate has been flared from the current open hole section on four separate occasions while drilling with mud weights in excess of 17 pounds per gallon.
* Mechanical preparation of the wellbore for the production test will commence immediately. Production testing is expected to commence in May and operations will extend for approximately four weeks.
* Two step out wells, Berkley East Lost Hills No. 2 sec 36-25S-20E, and Berkley East Lost Hills No. 3 sec 20-26S-21E will spud in the next two months.
Public Company partners with Berkley Petroleum in the East Lost Hills development are Elk Point Resources Inc. (TSE:ELK - news), Hilton Petroleum Ltd. (CDNX:HTP), Kookaburra Resources Ltd. (TSE:KOB - news), Paramount Resources Ltd. (TSE:POU - news), PYR Energy Corporation (AMEX:PYR - news), Richland Petroleum Corp. (TSE:RLP - news), Trimark Oil & Gas Ltd. (CDNX:TMK), and Westminster Resources Ltd. (TSE:WML - news). Armstrong Resources LLC is a Private Company partner |
| | Strictly: Oil and Gas Exploration Companies | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| To: PuddleGlum who wrote (301) | 7/26/2000 9:03:23 AM | | From: Aggie | | | | Hi Puddleglum,
Long time has passed with no posts here - I wonder why. Following is from Schlumberger website, bold face emphasis is mine....
slb.com
This update from our Paris editors 10:43 GMT
Oil & Gas News: Top Story
Upstream Investment Falls
HOUSTON, July 26 (Reuters via energy24.com) - The oil industry's upstream capital spending fell 5 percent in 1999 despite increased revenues and profits caused by strong oil and gas prices, according to an annual Arthur Andersen survey.
Combined revenues from oil and gas production of the 163 publicly traded companies covered rose 25 percent to $149 billion in 1999 after a 24 percent drop to $119.2 billion in 1998, according to the Global Exploration & Production Trends survey.
Combined upstream profits jumped to $33.2 billion from $4.5 billion in 1998 when global oil prices slumped.
Despite the rise in revenues and profits, the 163 companies' worldwide upstream capital spending fell to $91.9 billion from $97 billion, the survey said.
Within the overall amount for capital spending, exploration and development spending fell 22 percent to $61.6 billion from $79.4 billion.
"Exploration and production companies have been cautious about increasing capital spending due to a combination of the hard lessons learned during the oil price of 1998," Victor Burk, Arthur Andersen's energy industry managing partner said.
Burk told reporters that while oil and gas companies remained cautious, he expected a "significant increase" in their capital spending this year, fueled by strong cashflows and a tightening of supply and demand conditions for oil and gas.
Companies also felt increasingly comfortable that prices were sustainable at relatively high levels, though perhaps not quite as high as those seen in recent months, he added
=============================================
I find it amazing that, given the volatile nature of this business, that the financial instruments which determine spending patterns are so lethargic to respond to market conditions.
If spending mechanisms were able to react instantaneously to market changes (i.e. changes in the price of O&G), it would still take at least 6-9 months to meaningfully ramp up production - and that's just for infill-type development, where much of the infrastructure is already there.
Seems to me that a quick-response oil company would do well with this kind of competition.
Regards and Good Luck to all,
Aggie |
| | Strictly: Oil and Gas Exploration Companies | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (2) |
|
| To: Aggie who wrote (304) | 7/26/2000 12:59:09 PM | | From: isopatch | | | | Greetings Aggie
This my 1st post on SI.
Your post brings up an issue that many investors, without a window on field operations, are not fully aware of. Many oilmen have definitely been very slow to increase their spending, so far, in the recovery portion of this oil cycle. It's even more pronounced in basins where there is little or no NG.
This is the case, in southern Illinois, where I've been in negotiations to obtain some non-producing lease tracts since Feb of this yr. We finally got our 1st, a nice little 34 acre tract that we hope to augment a parcel to the east and one to the west. Being the keystone of the planned 3 lease prospect it took awhile to dicker over easements and right of way to access one of the adjacent properties which has no road access of its own.
In any case, my landman whose been in the biz 30 yrs tells me he's simply astonished how dead things are. Almost nobody is leasing yet. But that's OK by me. Just hope it stays quiet till I get a full plate.
All the best
Isopatch |
| | Strictly: Oil and Gas Exploration Companies | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (2) |
|
| |
