RE:CAPP. So, ya they are now just paying off their HUGE debts to the banks, which included massive hedging ,
this has eroded and reduced their earnings, The real picture will be when the oil companies remove their debt obligation to the banks, its coming. This is what every oil company is working towards.
However, what is NOT happening is the stock price of ALL these companies, ATH, TVE, ETC.,has not resulted in some MAJOR moves, UPWARDS. ATH, paid its loan, had great earnings, buying back stock,hedging reduced, etc., 3.50 to 4.50 is very achievable, ERIC feels 4.00 $$$$ is were it should be. OIL IGNORANCE. LOAD UP THE TRUCK.