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Post by birdnest on Mar 25, 2020 12:22:19 GMT -5
I know we have some brilliant minds on this MB. I get a lot of insight from most of you on my next trade. I’ve tippy toed in the oil market after that 25% decline a week or 2 ago and bought a few oil stocks. I’m under water/flat on most of them. I’m wondering if anyone has any insight on what’s going happen to these oil stocks? I bought RIG, NOV and SDRL. I have had CHK for a while and that’s pretty much toast... any opinions out there on oil? Thanks guys.
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RIG
Mar 25, 2020 12:38:48 GMT -5
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Post by bjspokanimal on Mar 25, 2020 12:38:48 GMT -5
SDRL was battling bankruptcy before the oil war ever got going. It has already been re-organized once and looks (MHO) to be a sure bet to enter bankruptcy again.
RIG is heavily leveraged, but has been a much healthier company, with small EPS losses but solid EBITDA prior to the price war. In fact, RIG's EBITDA margin of 30% was the highest among it's peers in Q4. RIG likely won't go bankrupt but current events will likely drop all of it's credit ratings below B- this year, meaning that it will be a struggle for the company's balance sheet between now and the next oil up-cycle.
RIG's book value is just under $20, putting it's stock price at around 7% of book... incredible value. Furthermore, it's book value is based on a fleet that's been heavily re-vamped and modernized over the past 5 years, and thus more marketable to E&P companies who drill in deep water right through the current crisis. Deepwater rigs are also leased for years, rather than months for jackups and weeks for shale rigs, so it gives them more of an ability to withstand short-term swoons in the oil-cycle.
NOV is further down the supply chain from the wellhead, but has a very healthy balance sheet with ample cash and little debt.
The allure of a driller like RIG is not so much tied to a return to $75 oil anytime soon, but rather, the more near-term likelihood of an end to the price war and/or the emergence of a corporate raider. Years ago, Carl Icahn was involved with RIG and there's no doubt that with it's stock price selling at 7% of book, it's still on his radar.
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RIG
Mar 25, 2020 16:57:32 GMT -5
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Post by birdnest on Mar 25, 2020 16:57:32 GMT -5
Wow great info S. I guess you know a lot about the oil company’s, like the casino stocks? Thank you.
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RIG
Mar 26, 2020 6:18:45 GMT -5
Post by Blitz on Mar 26, 2020 6:18:45 GMT -5
I would hope the Prince pays attention. My guess is he will; after all the USA does defend the Kingdom's oil fields from folks like Iran and Russia... US tells Saudi crown prince to end oil price war The Covid-19 pandemic has seen global lockdowns and plummeting energy demands By ALISON TAHMIZIAN MEUSE - MARCH 26, 2020 asiatimes.com/2020/03/us-tells-saudi-crown-prince-to-end-oil-price-war/US Secretary of State Mike Pompeo (L) meets with Saudi Arabia's Crown Prince Mohammed bin Salman at Irqah Palace in the capital Riyadh on February 20, 2020. Photo: AFP/Andrew Caballero-Reynolds US Secretary of State Mike Pompeo on Thursday in barely veiled terms told Saudi Crown Prince Mohammed bin Salman to end his oil price war with Russia. “The Secretary stressed that as a leader of the G20 and an important energy leader, Saudi Arabia has a real opportunity to rise to the occasion and reassure global energy and financial markets when the world faces serious economic uncertainty,” a State Department readout from the call said. Oil in recent days has hovered between US$21 and $25 per barrel, effectively pushing US shale producers out of business at a time when the American economy faces a Covid-19 pandemic-sparked recession. “There is no sugar coating it, US oilfield activity will collapse with oil prices well below $30,” investment firm Raymond James warned earlier this week. ATF Saudi Arabia and Russia, former OPEC+ partners, on March 6 failed to reach an agreement on production caps. While the Saudis wanted to see production cuts deepened to compensate for a drop in Chinese demand, the Russians wanted to keep the caps as they were to compete with US shale. The Saudis then decided to embark on a game of chicken, flooding the market with oil and offering steep discounts to buyers, in an apparent bid to force the Russians to return to the table. But the Russians also dug in, sending prices into a nosedive. The Saudi move was “completely stupid,” in the words of an oil analyst who spoke frankly on condition of anonymity. “The guy there is gambling the country’s future,” he said of Mohammed bin Salman. Donald Trump, who has cultivated ties with the brash young leader from the start of his presidency, initially heralded the drop in prices as a boon for American consumers. “Industry officials who have talked with White House officials in recent days described Trump as slow to comprehend the twin body blows a global pandemic and a price war between Saudi Arabia and Russia would have on an industry he has long supported,” a report in Politico said. As evidenced by the Pompeo call, the potentially detrimental cost to US energy producers appears to have now sunk in.
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RIG
Mar 26, 2020 7:01:01 GMT -5
Post by Blitz on Mar 26, 2020 7:01:01 GMT -5
Unprecedented oil glut The collapse in oil demand will lead to a massive oil glut that not even a supply production freeze or cut from OPEC can rectify, according to Goldman Sachs, which predicts a 14M b/d surplus in Q2. "Any potential agreement between the U.S., Saudi and Russia to freeze or reduce output is too little too late. It would take months to impact inventories globally and would be dwarfed by the current demand losses." The firm sees Brent crude remaining near $20 a barrel next quarter, while West Texas Intermediate oil will likely fall well below that level as storage swells. seekingalpha.com/news/3555304-on-verge-of-unprecedented-oil-glut-goldman
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RIG
Mar 26, 2020 12:36:09 GMT -5
Post by Blitz on Mar 26, 2020 12:36:09 GMT -5
I bot RIG because I think it will be $7 within 18 months but it's not going to pop like Boeing anytime soon due this... business.financialpost.com/commodities/energy/the-worlds-on-the-brink-of-running-out-of-places-to-put-oilThe world will run out of places to store oil in as little as three months, according to an industry consultant. IHS Markit said that current rates of supply and demand mean inventories will increase by 1.8 billion barrels over the first half of 2020. With only an estimated 1.6 billion barrels of storage capacity still available, producers will be forced to cut output because by June there’ll be no place left to put the unwanted crude, it said. The oil market has been hammered by falling demand as a result of the coronavirus outbreak, and as Saudi Arabia vows to flood the market with crude at deep discounts, following the collapse of the coalition of the Organization of Petroleum Exporting Countries and allies including Russia. On Thursday, Pakistan banned imports of crude and fuels because its storage sites are full. Vitol Group and Gunvor Group, two of the world’s top merchants, say there’s heavy interest in storing while several traders have booked supertankers to hoard barrels at sea. ///////////////////////// That said, the major oil ompanies are still going to drill holes to find more. Capital expenditures for the majors are only reduced and not completely cut.
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RIG
Mar 26, 2020 14:28:10 GMT -5
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Post by birdnest on Mar 26, 2020 14:28:10 GMT -5
Nice, I’ll take 1/2 that Blitz.
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RIG
Mar 26, 2020 18:39:17 GMT -5
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birdnest likes this
Post by Blitz on Mar 26, 2020 18:39:17 GMT -5
Nice, I’ll take 1/2 that Blitz. Me too!
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RIG
Mar 30, 2020 21:11:45 GMT -5
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Post by birdnest on Mar 30, 2020 21:11:45 GMT -5
Bought more today at $1.15... I will buy more at $1.00 if it hits that’s....
Damn can I please hit a home run once.
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Post by Blitz on Mar 31, 2020 6:19:05 GMT -5
Bought more today at $1.15... I will buy more at $1.00 if it hits that’s.... Damn can I please hit a home run once. I bot some at $1.15 too. If the Magic 8-Ball is correct, this is like LVS at $1.38.
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Post by Blitz on Mar 31, 2020 7:35:23 GMT -5
The cure for low oil prices is low oil prices. That said, I don't expect oil prices to go this low and if they do it should be short lived. The world's need for oil isn't going away and it's not going to be solved with electric cars, wind power, and carbon emission taxes. So, I think the lower it goes, the higher it goes... eventually... as it will take time to ramp up production... ///////////////////////////////////////// Why global oil prices will fall below $10 Covid-19 pandemic and Saudi-Russian supply war have decimated oil prices 65% this year with little hope of a near-term revival By TIM DAISS - MARCH 31, 2020 asiatimes.com/2020/03/why-global-oil-prices-will-fall-below-10/Excerpt: However, while the problem of oil demand destruction due to the Covid-19 pandemic will likely take months or even longer to play out, the impact of the oil price war between Riyadh and Moscow will be felt more than originally anticipated. As global oil storage capacity fills up, including on emergency floating facilities, the lack of storage will backfire on the Saudis and Russians, as both opportunistically seek to lock in and steal market share from one another by cranking up their oil production spigots. Analysts say there will soon be nowhere to store all of the extra production that both countries are producing. This will inevitably lead to production closure, a rare occurrence in global oil markets that are usually clamoring for more of the precious black commodity. As production closures ensue and economic activity ideally picks up as the Covid-19 pandemic eventually eases, markets could return to some form of price sanity and market equilibrium, with a new price floor that could help many producers shore up their balance sheets and plan ahead. Under one scenario prices will return to the $30s and possibly the low $40s by late this year. WTI future are expected to trade at an average of $34.95 per barrel in 2020, The Wall Street Journal said yesterday, citing a poll of 11 major banks. The banks also forecast that Brent crude will average $38.12 per barrel this year, its lowest price point since 2004. For the second quarter, however, Brent is expected to stay below $28 per barrel and WTI below $25, the same poll showed. Though these forecasts show a rise in prices from their current levels, they are still too low for Saudi Arabia and Russia to even come close to their so-called fiscal break even points, the price that oil needs to reach for the two to balance their books. Saudi Arabia, for its part, needs oil at a whopping $85 per barrel to balance the its national fiscal accounts, according to the International Monetary fund (IMF), while Russia needs prices in at least the mid $40s. Russia may be able to endure this prolonged low price environment longer than Saudi Arabia, which could be forced to raise cash through international bond sales to say afloat. But for the foreseeable future raising cash when at least one third of the world is under lockdown and the global economy headed into what could be a multi-year recession seems a fool’s errand at best. Moreover, the hit to Saudi coffers may be a blow that could take years to overcome, just as the country was supposedly trying to wean itself off of oil revenues for economic sustenance. With many speculating who will blink first in the Saudi-Russian oil price struggle, it seems increasingly that the Saudis will fold first. However, the question has changed from who will blink first to whom will be hit the hardest. The answer: US shale and other oil producers. The resurgence of US oil production over the past decade, enabled by the wonders of fracking and hydraulic drilling, has revolutionized global oil markets and transformed the US into the top global producer. That has allowed the US to grab market share from entrenched global oil as well as gas producers. However, America’s brief two-year reign at the top of the global oil production hierarchy could soon end. Edward Bell, commodities analyst at Dubai-based bank Emirates NBD, said that the current rate of rig closures in the US means caused by falling prices will lead to an estimated 750,000 bpd decline from the second quarter onward. That, he says, will drive US output of around 13 million bpd at the start of the year to “down below Saudi Arabia or Russia by the end of the year.” The implications for the US are multi-faceted, ranging from a painful economic downturn in the country’s until recently vibrant energy sector, with a ripple effect through the overall economy, to massive oil industry layoffs. Those, in turn, will lead to the probable reorganization and insolvency of several US oil and gas companies, especially smaller players that were already burning cash on their balance sheets to stay operational.
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RIG
Apr 9, 2020 6:43:38 GMT -5
Post by Blitz on Apr 9, 2020 6:43:38 GMT -5
Saudis and Russians to tame Trump with oil truce The Saudis are looking to placate Trump while Russia is seeking returns By ALISON TAHMIZIAN MEUSE APRIL 9, 2020 asiatimes.com/2020/04/opec-preps-trump-taming-truce/US President Donald Trump participates in a meeting with energy sector CEOs at the White House in Washington on April 3, 2020. Photo: AFP/Jim Watson Saudi Arabia and Russia are expected to come up with an impressive, but inconsequential oil production cut proposal at an OPEC+ video conference on Thursday. The headline number is expected to match the 10 million barrel per day (bpd) reduction thrown out last week by Donald Trump. But the actual cuts are likely to be superficial, climbing down from the current hyper-production levels and in response to a global plummeting of demand amid the Covid-19 pandemic. “There will be an effort to achieve a face-saving agreement on production cuts. In effect, a temporary halt to a market share war that will erupt again once the coronavirus has been brought under control and there is a degree of economic recovery,” said James M. Dorsey, senior fellow at Singapore’s S. Rajaratnam School of International Studies and Middle East Institute. ATF “It will appear as a significant cut. The market will rally. Only for it to crash again in a few days once the market fully digests that the issue is not supply induced,” a Gulf-based economist told Asia Times. He added that “all oil producers were going to cut supply regardless of this deal, as oil storage is in scarce supply.” But what is announced will essentially be “the organic destruction of demand.” Fuzzy math ING Bank on Thursday cautioned observers to note the reference level for any cuts. While cuts from the 2020 first-quarter average would be significant, a reduction from the recent price war levels would not. “It would likely make sense for them to use current output, given that it would make the size of the cuts appear larger,” said ING. “Lots of traders and analysts warning the various parties can fudge their way to a big headline number,” tweeted David Sheppard, energy editor at the Financial Times. The true cuts – already in the works due to the price collapse and lack of storage – could be much less significant. Russia’s oil minister Alexander Novak was quoted Wednesday saying Moscow could be willing to cut 1.6 million barrels per day as part of a new three-month round of production cuts. But Moscow has also signaled it is looking for the United States, now the world’s top producer, to respond in kind when G20 energy ministers hold e-court on Friday. OPEC plus Texas From the Oval Office down to the enthusiastic Texas regulator Ryan Sitton, the American line has been that an “organic” US oil reduction is all that is needed or coming. The Kremlin, however, says it will not accept a “natural reduction” in US oil output as a substitute for parallel cuts. “The United States is not a part of OPEC+, but it seems that Russia, Saudi Arabia and partner countries are setting the US at the center of their meeting and preparing for it to take the blame if the meeting fails,” Ellen R Wald, author of Saudi Inc., said in a Thursday column for Forbes. The Saudis have openly stated that the Thursday OPEC+ teleconference is “in response to the request of the US President and our friends in the USA.” King Salman is likely seeking to contain the wrath of Senate Republicans, outraged over threats to US shale, and to maintain their support for his son’s claim to the throne. Trump is equally looking to avert a shale industry collapse in an election year. Whether any cuts, however deep, can accomplish that amid plummeting global demand is another question.
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Post by halmorris on Apr 15, 2020 17:19:55 GMT -5
Down 0.20 Today to $1.34
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RIG
Apr 15, 2020 18:36:31 GMT -5
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Post by birdnest on Apr 15, 2020 18:36:31 GMT -5
If it gets down below $1.10 again I’m buying.. “Go big or go home” or broke..... hahahaha
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RIG
Apr 22, 2020 11:37:14 GMT -5
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Post by birdnest on Apr 22, 2020 11:37:14 GMT -5
I’m just wondering, I’m I the only dip $hit buying this stock in .90’s range. If I ever buy another oil company please smack me....
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Post by Deleted on Apr 22, 2020 13:17:15 GMT -5
Bird.... your not alone i'm in at $0.97, bought a small truck load,
I started looking when rig was in the 0.95 range when it starting moving up from 0.95 I bought
In the last 3 months the avg vol/day was 24M shares, right now were at 56.5M shares so your not the only one buying
When I started buying it was trading in fractions like 0.97345.
Now its trading at whole pennies, not fractions.
Sometimes the bid and asked have been locked at the same price, bid 0.97 asled 0.97.
I don't know what that means, i'm quessing they trade locked when there are big trades going on.
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Post by bjspokanimal on Apr 22, 2020 17:55:20 GMT -5
I spent almost 3 hours researching and digging into today's swoon in Rig. Ended up buying another tranche... my 7th so far.
Transocean's swoon all occurred in a 26 minute period around noon time on heavy volume. RIG did over double it's usual volume for the day, but if you normalize the volume from that 26 minute stretch, the day's total volume would have been pretty normal.
The EIA inventory report came out today, but that came out at 10:30 am so it was unrelated to the timing of RIG's swoon.
Also noteworthy, was that related stocks didn't experience the 26 minute swoon that RIG did. Seadrill and Varco were both running in the green the entire time.
Scanning the internet, there was no news. RIG doesn't report Q1 for another 8 days. There was an analyst downgrade, but it was from yesterday and still sported a $1.50 price target.
Bottom line: The chances were very high that it was a one-off mega-sale by a big player or an institution. Given the state of the market, and the first-ever negative price on the front-month, May U.S. crude contract yesterday, it could very well have been a margin call triggered event. In the end, I saw it as a tactical buying opportunity.
RIG is trading up 8 cents from the $0.95 close at $1.03 after hours.
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Post by Blitz on Apr 22, 2020 18:19:21 GMT -5
I had a limit order of $1.03 in around the time frame you mentioned. It hit $1.03 several times and my order did not get filled. I thought that was strange. I latter read sometimes that happens when there are big block trades working through. It later filled. I also bot more at 96 cents.
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Post by Deleted on Apr 22, 2020 19:10:42 GMT -5
Rig clsed AH at $1, up 5 cents
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RIG
Apr 22, 2020 21:11:47 GMT -5
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Post by birdnest on Apr 22, 2020 21:11:47 GMT -5
That makes me feel a little better. I’ve bought this stock from 1.75 on down and can’t catch a break....
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Post by bjspokanimal on Apr 22, 2020 23:14:45 GMT -5
One thing to note during this crash in oil.
E&P companies are cutting their exploration budgets and then cutting them again. But the cuts being made are the easiest... in the quick-turn, easy-access, quick- depleting shale fields. 7 small drillers have gone bust so far this year... 6 of them since March 1st. A couple of them are smaller shale drillers and a bunch more are flirting with insolvency.
Offshore, where Transocean operates, companies are cutting much less. the reason is because offshore fields are bigger and more conventional so once the drilling begins, there's more of an investment already made that makes less sense to stop work on because there's a bigger, longer-lasting payoff once production begins.
Finally, where Transocean REALLY operates is in deep water and ultra-deep water projects. In those, projects don't involve weeks, like shale, or months, like shallow-water projects, but they involve Years. If an E&P company (usually it's bigger, better capitalized companies or sovereign countries involved with more expensive, deep-water projects) already has between 6 and 18 months invested in a deep-water field that's 7 more months away from producing out of a 1.5 billion barrel reservoir, they are NOT going to stop working on it before they're going to stop working on anything else. They're going to look at such projects as what they want to be bringing online well after the current oil bust has ended.
This is not to say Transocean isn't going to be impacted by the current oil crash. In fact, oil was low enough in 2019 to leave Transocean stomaching lower dayrates even before the current crash even began. However... when a crash like this happens and an E&P company is paying $200,000 a day for an ultra-deep water rig instead of $550,000 a day like they would be if all this was happening at the end of a $150-per-barrel oil boom, then they're going to be less inclined to pay for an early contract termination during an intensified oil bust on such a rig, right?
So, don't look for a bad Q1 for Transocean next Thursday, and that may lift the spirits of some folks who've been hesitant to buy RIG for a buck a share. Even the guidance that RIG gives for Q2 could well be better than feared.
But if Covid keeps oil at $20 into mid-to-late autumn... I'd say all bets are off for this B- rated company.
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RIG
Apr 24, 2020 9:03:42 GMT -5
Post by Deleted on Apr 24, 2020 9:03:42 GMT -5
Last night on Bloomberg TV they indicated the Republicans are gathering support to get aid for the drillers.
That may explain the spike up on Rig's opening today.
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RIG
Apr 24, 2020 10:11:23 GMT -5
Post by Deleted on Apr 24, 2020 10:11:23 GMT -5
Trump Developing Plans to Aid Oil Despite Democrats’ Opposition : Jennifer A. Dlouhy, Ari Natter and Saleha Mohsin : April 24, 2020 (Bloomberg) -- A plan being weighed by Treasury Secretary Steven Mnuchin to steer financial aid to beleaguered oil drillers could set up a clash with Democrats who have warned against any bailout for the industry. Mnuchin said he is considering a lending program for the companies that are seeking aid as they cope with a devastating plunge in prices. “One of the components we’re looking at is providing a lending facility for the industry,” Mnuchin told Bloomberg News on Thursday. “We’re looking at a lot of different options and we have not made any conclusions.” Industry allies have promoted several ideas, such as loans to distressed producers in exchange for government stakes or lifting restrictions on existing aid programs, which could complicate negotiations on future stimulus packages. President Donald Trump pledged to make funds available to oil companies on Tuesday, and top cabinet officials have been huddling over a plan to deliver on the president’s tweeted promise to ensure “these very important companies and jobs will be secured long into the future.” The effort comes as analysts predict a wave of bankruptcies among oil producers struggling to survive an unprecedented collapse in crude prices and demand tied to coronavirus-spurred lockdowns that have grounded planes and kept cars off the road. Mnuchin wouldn’t say whether the program would be housed at the Treasury Department or at the Federal Reserve, which has created loan facilities to help businesses hard hit by the economic collapse triggered by the outbreak. But congressional Republicans have warned that the lending created by the $2 trillion stimulus package isn’t enough to head off the “growing emergency.” ‘Present Danger’ “We face a real and present danger of seeing hundreds -- if not thousands -- of oil producers shuttering,” 11 Republican senators warned in a letter this week to Mnuchin and Federal Reserve Chairman Jerome Powell. “Assisting these companies could be the difference between maintaining our domestic energy production and workforce or shedding more U.S. jobs and returning to dependence on foreign sources of oil.” Industry advocates are pushing for changes to ensure oil companies can tap loans restricted to firms that had credit ratings of at least BBB-/Baa3 as of March 22, 2020. Some oil companies saw their debt downgraded even before that deadline as they were pummeled by both the pandemic-spurred collapse in fuel demand and a surge in crude unleashed by a Russia-Saudi Arabia battle for market share. That March 22 ratings deadline could be a big obstacle for shale producer Occidental Petroleum Corp., which had its debt cut to junk by Moody’s on March 18, with Fitch and S&P following on March 20 and March 25, respectively. Republicans led by Senators Kevin Cramer of North Dakota and Ted Cruz of Texas argue the Treasury Department and Fed should shift the date earlier so company ratings predate the Russia-Saudi maneuvering. They are also asking for additional flexibility on credit score requirements. Debt Payments Separately, the Independent Petroleum Association of America wants the Fed to permit oil companies to use loans under the Main Street program to pay off existing debt coming due amid the crisis. In a letter to Powell, IPAA president Barry Russell said that change would provide a “bridge to recovery for businesses that would have otherwise been able to meet their debt obligations, were it not for the virus.” Administration officials have indicated they are receptive to changes. “We are working very closely together to ensure all the folks in the producing community have access to those types of loans, that type of liquidity,” Energy Secretary Dan Brouillette said during a Tuesday interview on Bloomberg Television. Mnuchin signaled he’s unwilling to tap a separate $17 billion pool set aside for national security interests, telling reporters Tuesday that program was really designed for companies that are either major suppliers to the Department of Defense or have top-secret clearance. Another option is for the Fed to purchase non-investment grade debt from distressed energy firms, ClearViewEnergy Partners said in a research note to clients. “Treasury could guarantee loans to distressed firms in return for equity stakes or senior debt, and Washington could use its voting shares to compel shut-ins” in oil production from their wells. ‘Alternative Structures’ For oil companies that aren’t credit-worthy enough to tap the Fed, Mnuchin said he is discussing “alternative structures with banks” because firms “would have to fit into the normal constraints” to take advantage of a Fed facility. Any effort to use emergency virus funding to help the oil industry is sure to enrage Democrats who have warned about steering federal dollars to fossil fuels while other businesses struggle. Senator Ed Markey of Massachusetts and Representative Nanette Barragán of California warned Powell on Thursday to steer clear of bailing out “an industry that has been struggling under its own short-sighted financial decisions for years.” “It would be short-sighted misuse of taxpayer resources” to accede to requests to use loan proceeds to pay off or settle pre-coronavirus debts, the lawmakers said in the letter to Powell. New Jersey Representative Frank Pallone explicitly warned against such a move last month. “I refuse to put the American people on the hook for rescuing oil companies from a crisis that they themselves had a hand in creating,” said Pallone, the chair of the House Energy and Commerce Committee. Oil and gas producers have recently stepped up lobbing for aid, with Occidental even enlisting its employees to ask Congress to “provide liquidity to the energy industry.”Range Resources Corp. hired FTI Government Affairs earlier this month to lobby on “economic stimulus package assistance relating to the COVID-19 crisis,” according to a disclosure filed with Congress. finance.yahoo.com/news/trump-developing-plans-aid-oil-080000489.html
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RIG
Apr 24, 2020 17:19:09 GMT -5
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Post by halmorris on Apr 24, 2020 17:19:09 GMT -5
Im in for 1000 Shares at $1
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RIG
Apr 24, 2020 20:21:59 GMT -5
Blitz likes this
Post by redbullnvodka on Apr 24, 2020 20:21:59 GMT -5
Im in for 1000 Shares at $1 Purchased some as well at $0.96 & $0.97 after selling my AMZN.
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