RE:RE:RE:RE:RE:Breaking OutWhat I've learned owning this for 2 years now is DW plays the long game. I'll be surprised but not shocked if a transaction transpires in the coming weeks. From what I can tell (amateur hour) there's lot of industry consolidation/asset swaps that can and should be done tbh.
Oak is the big question mark - they said 30-50% oil and DW said a couple times they were pleased but other than that, we're in the dark. Did they sell Inga because their back was against the wall OR because their back was against the wall AND Oak was an even better? I'm speculating the latter.
Their gas hedges aren't the greatest...at some point in May? they switched from hedging oil to hedging gas, timing the commodity market isn't their forte. Of course if all those wells come on line, the % hedged will be a lot lower. But if they sell some asset, then it may remain at the 40% ish range until October and 25% ish range from November to March.
Gas does seem to be in some trouble supply wise - there's no OPEC that can unleash a few M barrel, no SPR from USA or China. A lot of new oil is offshore and they reinject the gas. The drilling is simply not going up much (actually down in Canada the last 2 weeks), maybe they can't find crews? And of course demand is strong - as the middle class everywhere grows, they want the good things in life - heat and AC - Mexico is a prime example. Maybe coal can save the day?
I may sell some myself as the daily volume now is getting too low for comfort. Friday was 110K shares...
GLTA.