RE:RE:RE:RE:A barrel of WCS is priced below a gallon of premiumFantome, Methanex still has NOT drawn down on the $300 million revolver or its $800 million delay draw loan. And methanol prices are firming up better than most expected from what I’m seeing when viewithe chemical industry
As of YE 2019, Methanex had $417 million in readily available cash and $1.1 billion in availability between its revolver and its delayed draw term loan Fantome wrote: WheresMeGold wrote: montrus, I think in energy names your best options are the large multinationals. I like BP, Exxon, Shell, and Chevron in that order. I also like Methanex as a indirect energy play. It is a stock unfairly beaten down but has a strong balance sheet, benefits from low nat gas prices, is a leader in its market, and has strong management.
Some or all of the companies listed may cut their dividends but will come out stronger at the end. I seriously question whether VET will come out of this as a going concern. I doubt it. JMHO. GLTA.
montrus wrote: You offer compelling data here WMG. So are you saying that VET and many many others will not survive in this scenario?! That must pave the way for lots of possible M&A. In your opinion, what would be the safest names to hold then, in this sector? Best regards and keep well.
You might find this of interest..
https://www.fitchratings.com/research/corporate-finance/fitch-downgrades-methanex-corporation-long-term-idr-to-bb-outlook-negative-30-03-2020
In terms of debt....since year end 2019..MX has drawn all their previously unused 300 million revolving debt facility and suspended development a large facility in the US....I like the company but there are some serious red flags right now!!