http://finance.yahoo.com/news/shareh...215200134.html
They're going under.
No. These guys are a bunch of sharks and are trying to get some money back lost by claiming the leadership at Sandridge didn't do their part. Not saying they don't have a case, but stock market is always a risk and sometimes you make bad investments.
all it's gonna take is one company to find it's assets attractive and hello buyout
^
Fortunately (or unfortunately, however you think it) for SD, the Mississippian suuuuuuucks. This is the play Sandridge bet big on, and its radioactive in this price enviornment...nobody will be buying them or their acreage. Their wells were struggling even when oil was $100+/bbl.
A company like Sandridge better hope they can ride out this price slump based on their current production. Otherwise they could be in trouble if prices don't go back up in the next 6 months or so. Worse than a buyout, SD is the one OKC based company that is in danger of straight-up folding.
Don't know much about it. I have heard the play is not profitable also.
I believe the current oil prices are because the presidents policies have been put
on hold. Like all recessions and depressions, this is a result of a natural self
correcting phenomena. All recessions and depressions follow this as long as the
government isn't involved.
Even fdr's depression and the depression inside of a depression (@1938) came to
an end when WWII started fdr thankfully died.
Was $150 oil in 2008 a result of Bush's policies? I am sure you would deny that.
The President really has very little to do with oil prices with the exception of Bill Clinton and the Commodities Modernization Act of 2000. That turned oil into a speculative market. Much like 2008 when speculators were driving the price of oil to ridiculously high levels without demand justification, they are doing the same today in the other direction.
The end of quantitative easing combined with a lot more oil in the market plus less demand for global oil is all causing oil to be cheaper. Its takes a lot more to push oil prices lower than it is to raise them. There is a lot of price support at $0 dollars a barrel. lol
If there is that much speculation the market is going to figure it out real fast when there is no money to pay oil field workers.
Bill Clinton considered one of the best republican presidents we've ever had.
Possible capitulation this morning around WTI $53.50 (or maybe just a dead cat bounce). Either way, huge reversal off morning lows in energy.
OKC E&Ps % off morning lows: SD +20%, CLR +15%, CHK +8%, GPOR +8%, DVN +6%
Finally some positive news. Now to see if it holds.
Oil pushing $60 as we type.
I thought "fear" caused prices to climb?
Oil extends gains after EIA data, Brent near $62
Oil prices jumped on Wednesday as U.S. data showed falling crude inventories, stemming deep losses brought on by a supply glut and signals from OPEC producers and Russia that they will not cut production.
WTI crude closed 54 cents higher at $56.47 per barrel after surging to a session high of $58.98. It touched its lowest level since May 2009 at $53.60 on Tuesday
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