Post by
geezer21 on Oct 25, 2021 11:28am
2014
In 2014 oil reached a high of $121.28 in June when the price crashed and by December was down 50% to $62.22.
The prices for all the oil producers were in a bubble including SGY.
Comment by
geezer21 on Oct 25, 2021 11:42am
When all the oil producers were in the bubble in 2014 tons of money came pouring in, drillers were 100% utililized and buying new rigs to expand. Everyone wanted in to make money while the sun was out. Oil production skyrocketed. So guess what happened then? An oil glut and a crash in prices.
Comment by
ppp on Oct 25, 2021 12:06pm
As one can see they had CF about 40 mil for Q3 19. Thats 160 mil a year at Q3 annualized However they are guiding 260 mil for 22 another 100 mil. I would say the share price is totally out of context with the forward strip.
Comment by
ariesleaf on Oct 25, 2021 12:08pm
Just remember that $6.27 is break even point. Still a dog.
Comment by
ppp on Oct 25, 2021 12:20pm
Agreed its a dog, And the market is going, show me!!! But if 22 plays out, this could be a very good investment over the next year.