Maybe the Costco guy really was seeing the tide turn. Pay attention to the collective guys “on the street” as they’re seeing what’s going on first hand. Research analysts are smart people but they see things on a delayed basis. (Hopefully none of you are managing your own money.)
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The “tide turning” to $40 oil is still losing. Ask the 100k oil workers in TX who are out of work how that tide looks.
@cus I LOL'd - "bragging about $40 oil is like being a ladies man at a h0house" what an apt comparison. CVX is not the type to flip assets in short term- most buyouts are strategic. CVX M&A works so slow with luckily not as many id–ts as OXY (e.g. banking on future immediate APC asset sales to pay off the APC buyout)
Noble management assumed $40 oil going forward to make the decision to sell the company. If the price goes above $40, then the any upside will be gained by Chevron. Chevron will probably sit on the unconventional assets for a year or two and by then oil prices should be well above $50. The unconventional assets were essentially given away.
Tell me this is a joke and not the saddest attempt at a flex of all time. Bragging about $40 oil is about as sad a hitting a wh–e house and telling everyone what a ladies man you are. $40 oil means shale is still dead. And congrats, it’s up like $10/bbl from that original post. still has about $20 to go before most of us have jobs again.
With thinking like this, it’s clear why Noble got to where it is today. I’m glad I won’t have to work with most of you dummies anymore.