Enjoy those options boys.....
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Rig count up 6 for the week (Mostly W Texas-Permian) but still Under 400 rigs in US. Oil in $50-55 bbl range, Needs to be above $60 for increased rig activity. Chevron produces 500K bbls /day from Permian and says they could easily go to 1M in next 2 years or so but will Not because presently No Place to sell it. Going to go to AMC theatre or GameStock location for Real Entertainment Dow down 600 Points at Present but Anyone's guess as to where it closes. End of Month/Friday/triple witching day
BP announces cutting their Exploration staff from apprx 700 3 years ago to Less than 100 by Summertime.
Here is the numbers i see. 2015 Lost $90M. 2016 Lost Money. 2017 Lost Money. 2018 Made $38M 2019 (Lost Money - $13M). 2020 Lost $62M thru 3rQ and will ring up a $10-20M Loss in 4th Quarter. Bottom Line -Lost MONEY in 5 of Last 6 Years. AND THE SAME SR MGT TEAM IS STILL IN CHARGE AFTER THESE SIX YEARS. What a ride!!
SLB reports 4th Q profit of $374M
US Rig count only up 5 for the week and 2 of those were in Alaska. Still well under 400 rigs total. Oil currently apprx $52.50 NG @ apprx $2.50
All this While– Baker Posts a $635M profit for the 4th Quarter 2020. It's going to be an ugly 4th Q for the boys, with NO End in sight. Will be anxious to see the proxy statement in a couple of months or so, to see if they tried/did pay Top mgt any Bonus $$$ and/or gave them a load of free stock
Been in giveaway mode in fluids to maintain revenues. Est losses $16-22m.
4th Quarter Earnings Report Date 2-11-2021 My guess is LOSS of $12-13 Million
how about this. For his next gig, little dt could come into run nr. Talk about a full fledged zoo.