Member Info for epiphany121

Net 8 oil rigs down in the US. 5 in the Permian and 4 down in Eagle Ford - the two major basins. Permian is only 11 now higher than last year. Total rig count is now 13 higher than this time last year. Positive, I got to say. But, with WTI now hitting the 60s today, we need to see if the rigs still keep coming down. Budgets are being cut at the small/medium producers, who account for circa 70% of the shale production and that should mean stable production, rather than the break neck pace witnessed last year.

Good weekend all..

OK, at least they did put a research note out with increased earnings forecast, but no target. At least I can't see a 15p target in there. If anyone can, please let us know..;-)

Brent just needs to nudge above the 70s first and it's coming soon, IMO!!!

And Brent is back to where it was this morning (actually better). That says it all..

Hitman - Jefferies NEVER had a 15p target on ENQ. Period. That's proper fake news, like I said yesterday. RBC and Barclays did, not Jefferies.

Right on cue and about par for the course. He's probably being told by his advisors that oil is getting ready to move into the 70s and the numbskull is trying to preempt this..

Indeed, Soder. In the 6 months prior to now, Brent has averaged just over $66, thus satisfying the cash interest payment condition.

That's 100% my position as well, L3. Having Brent above the ceiling they'd have received in the mid to high 80s, assuming a collar was taken out in September/early October, is a good problem to have and they could've then taken out more for 2020. The only consolation I can have is in the thought that they've hired the Hedging manager that they were looking to hire a few months ago, and their only job is to focus on putting on those hedges.

I'm with Hitman that the market's pet focus now is how much debt can be reduced in light of the accrued expenses that has to be paid down in 2019. I'd wager that the market thinks not much and that's part of equation in determining where we currently are with the SP. I'd say it is a short sighted assessment and once Brent gets into the 70s, the market should shift from that view.

Lol..take it to Kraken and hand out to the FPSO fixers? That's on the ball and maybe the panacea for all the evil staring down at the FPSO. ;-)

Unless we see 12 to 15 day load intervals for the next 4 or 5 loads, I'm headed there!!!

Lol..try that, KO. It's better than coffee and a lot more eye opening. You'll be surprised how easily you spot fake news spreaders claiming to be longs, desperately trying to get someone/anyone to nod at the gibberish they spout.

I'm on coke for most of the day, and it helps me feel light, floaty and forever living in a state Epiphany, KO. Can't lighten up anymore I'm afraid. ;-)

Brokers mean jack shiite when Brent moves up into the 70s and ENQ follows.

I can't see how ENQ pays back $1 bill debt and gets slated by an analyst - Sorry, I don't think you'll cut your teeth as an analyst, KO..Lol. :-) And best to leave fake news and analysis to others more proficient in that area, as we get by the handful on a regular basis on this board.

SP will adjust when debt goes down, even assuming simplistically that EV stays at the same level as it is now. If net debt does down by a billion, and you'll be looking at net debt to EBITDA of well under 1 and how on earth is that not noticed by brokerages?

Pressed post by mistake..here goes.

However, historically stock market returns (Dow/S&P) have been historically positive in the months after the 3M/10Y treasury yields inverted and this is also a reason for my optimism (along with the others I've already stated) in the coming months for asset prices, Brent included. High 70s Brent is not a pipe-dream in the coming months. And this is where ENQ will need to take 40-50% collars for 2020, IMO. Maybe, I'll drop a note to IR and let them know my views.

Interesting that AB was not too optimistic about the Brent forward curve and hence, it beats me that they didn't take on large hedges when Brent was in the 80s for many weeks and all of 2019 Brent forwards were in the 80s. That was a big missed opportunity. However, historically stock market returns (Dow/S&P) have been ver

Hitman - I certainly think that Brent is going to break the 70 handle to the upside over the coming weeks. What's holding the price back is the uncertainty over US economic outlook (treasury ST/LT yield curve inversion, although the ST is 3 month yield and is not a great indicator). Once there's a bit more clarity on US data (plus Brexit), and China-US trade deal next month, brent will get into the 70s.

Hi Redetin - I know Multiple Myeloma . My uncle passed away from it about 10 years; he was broken man at the end. It also started as aching bone/s for him. I'm hearing that the prognosis for Multiple Myeloma is already much better now, with a lot more better treatments available now, than say 10 or 15 years ago. All the very best to you and may it fully remiss..

L3 - read my earlier comment about Fake news/Fictional broker rating with a 15p target that was never released by Jefferies. Best to leave it there.

Broker ratings do have a short term impact on share prices, but yes, they're often done after fundamentals have changed and the price has moved up.

Fictional broker ratings on the other hand 'can' shake weak hands and minds. It's not too difficult to put out fake news in this day and age at all. ;-)

It should exist in somebody's mind for that to be quoted on this board, I'd imagine!!!!

APi shows a 2 mill bbls build, and a draw in products. I'd wager that EIA shows more than a 5 mill bbls build tomorrow, knowing how skewed last week's figures were with a 10 mill bbls draw.

However, still on track for 70 in Q2.