I graduated from ITT Tech, so I know everything. Thankfully, the school is closed for good so none of you fools can try to waste your money, ahem, I mean enroll.
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It was University Devry not Platt College... don’t insult your intelligence like that.
The article linked to below was published 12/19/19 and it says we have turned the corner. I hope that's true, but I question if this management team can deliver. There is little credibility there. Hopefully, they can turn that around, too.
Seems like a ferocious price for the thing!
Devon may have won a victory and the remaining staff should celebrate after the layoff and reorg.
@12zMAcLy-1ygb- Misspelling "Artciles" indicates you should get off your high horse. Did your lack of a college education at a real school like OU (Platt College perhaps) make you miss out on basic English skills? Do the math for that one motherless funk.
To the OP....check your math. You are off 3 decimals. Putting that OU Price degree to good use I see.
Let me walk you through the math...you probably went to an Oklahoma Highschool so you already dont have the math skills to understand how a decimal moves around.
Artciles say the asset sold for $770MM and produces 597MMCFd....becuase you are slow MM stands for million (I think that is where you went wrong). So take $770MM/597MMCF = $1.29 per flowing CUBIC FOOT OF GAS. The MMs (aka zeros) cancel out. Since gas is traded at 1000 cf or MCF....multiply that by 1000 and you get the fact they paid $1,289 per flowing mcf.
Fyi more goes into it than what you can fathom.
If you are still in the O&G business and are an RE I suggest you switch careers. Or go work for CHK...they could use your math skills with their $10,000MM debt.
It's still amazes me the amount of stupid people still in this game.
dang, all that money Devon sunk into exploration/seismic costs. all for naught.
So we sell the Barnett for $770m and then take a roughly $700m charge against the sale this quarter. Does anyone known what that means? I really can't tell if it's shrewd or stupid. Thanks.
How many bottles of beer on the wall is that?
What is that like, 536,899,225 tacos?