What a surprise!Oil is flat at $72 and this is tanking. What do you think will happen at $70 oil and $65 oil? $1.85 at $65 oil and $1.50 at $60 oil and 99 cents at $50 oil. 99 cents before $3 because it's impossible at this rate to get to $3.
How can anyone be happy with how this is trading since oil climbed past $70? I guess the hedges are one of the problems. Also, no one trusts the oil price. They are going to have to keep proving free cash flow every quarter, maybe we get to $2.50 by Q3 if we are lucky. It still seems the shorts are in major control. MEG was up 50 cents yesterday, while BTE continues to sink and flounder. It's a dog. I can't be the only one who sees that. Again, how can anyone be thrilled or think that's a good thing how this goes up a penny on green days and down 5 basis points on flat days. It just doesn't add up.