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$50 site donor 2026
Back up over $70. It ain’t over till it’s over.
Continental Resources Halts drilling in North Dakota
- Thread starter Snagglefoot
- Start date
Closed at $70.45.
Here’s an update on Chord. In one month they lost over 20% of their value and the share price is almost back where they were five years ago. They are not making a net profit.
Over $70 per bbl again.
Somebody's making a profit. Who is it?
Ham knows the biz no doubt.
I wonder what their completion and drilling costs are coming to currently?
I know when companies get sold that are in the Williston (mainly Bakken drilling). The purchasing company generally takes on quite a bit of debt in the acquisition and that makes it even harder to break even.
I wonder what their completion and drilling costs are coming to currently?
I know when companies get sold that are in the Williston (mainly Bakken drilling). The purchasing company generally takes on quite a bit of debt in the acquisition and that makes it even harder to break even.
Not sure. When the 2nd quarter comes out we’ll see if Chord’s ducks were lined up in a lucky fashion to gain from the quick ramp in the spot cost. If they weren’t, they’ll show a hedging loss and the traders who bet on the oil ramp, made out like bandits.
Yes, last quarter, Chord had $1.5B of debt on the books. These guys are not Exxon Mobil.
Also, sometimes the asset is not all it's cracked up to be either. If thorough due diligence isn't done could've been a bad purchase from the start (along with the acquired debt). Companies wrap assets up nice and pretty with a bow hoping someone will bite.
Last I heard Hamm was investing in Turkey - trying to do fracking over there or something.
Possibly where all the current money is being spent?
Possibly where all the current money is being spent?
Did I say $70? It closed at $80 today. It ain't over 'till its over I guess.
Chasing oil prices is tough. Continental released Noble 4 and are not currently drilling in North Dakota.
Meanwhile Chord continues to drill under their previous company names. They have to in order to keep up their production rate up. The $80 oil price will help if they can arrange their hedges to accommodate it.
Meanwhile Chord continues to drill under their previous company names. They have to in order to keep up their production rate up. The $80 oil price will help if they can arrange their hedges to accommodate it.
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