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Saturday, October 26, 2013

Longleaf Partners Q3 Report To Investors

Finally some joy for their Chesapeake position.

Still trailing the market over the trailing 10 years though.......

http://www.gurufocus.com/news/232800/mason-hawkins-longleaf-partners-fund-management-discussion--third-quarter-2013/affid/81000


Cline Shale And Northern Mississippi Lime Require $96 Oil To Break Even

All unconventional oil plays are not created equal.  And this is why $70 oil wouldn't last for long.

Focus on the companies with big land positions in the good ones and hold for the long term.

Energy producers on average need oil prices around $96 a barrel to break even on wells drilled in Permian layers known as the Cline Shale and the Northern Mississippian Lime, according to Mike Kelly, an analyst at Global Hunter Securities LLC. That compares to average break-even prices of around $78 a barrel in the Eagle Ford Shale a few hundred miles east of the Permian, and $84 in the Bakken of North Dakota. Some areas of the Permian need a price of just $70-$74, Kelly said.

http://www.bloomberg.com/news/2013-10-24/oil-s-5-trillion-permian-boom-threatened-by-70-crude.html

Harold Hamm Isn't Optimistic About California's Monterey Shale

These oil resource plays aren't unlimited folks.

Focus on the companies with big land positions in the ones that work and hold for the long term....

http://www.nationaljournal.com/new-energy-paradigm/harold-hamm-down-on-california-s-monterey-shale-20131016


Friday, October 25, 2013

Ex-Sandridge CEO Tom Ward Starts New Company

Ward and McClendon should have put the band back together and joined forces.

They could have called the company "Shareholders Be Damned!"

“I am long-term bullish on natural gas in the U.S. so I would lean toward natural gas,” Ward said today at a Bloomberg Link Oil & Gas Conference in Houston. Since leaving SandRidge earlier this year, Ward has been trading energy and agricultural commodities, he said

http://www.bloomberg.com/news/2013-10-17/chesapeake-co-founder-ward-funding-new-energy-production-company.html

Thursday, October 24, 2013

Sunday, October 13, 2013

Barron's Bearish On Sears

Sears Holdings shares soared more than 60%, to $64, from late August to early October, an extraordinary performance, particularly in a flat market. But investors shouldn't mistake the runup for signs of improvement in the beleaguered retailer's fortunes.

Sears, controlled by hedge-fund manager Edward Lampert and ESL Investments, has been operating in the red for several years, and more losses are expected this year and next. Moreover, the company's real-estate portfolio—Sears owns almost 2,500 Kmart and Sears stores in the U.S. and Canada—could be worth considerably less than the market assumes, especially if Sears continues to sell stores to raise cash, as it has done in the past 18 months. Some skeptics think Sears (ticker: SHLD) is worth only $20 to $25 a share, based on the retailer's dim prospects and the appraised value of similar properties. The shares closed last week at $54.89.

Monday, October 7, 2013

How Brazil's Richest Man Lost $34.5 Billion

Eike Batista stands at the center of a specially built air-conditioned stage on his 22,000-acre-plus Açu port project, a massive oil and iron-ore shipping complex about 200 miles north of Rio de Janeiro. He’s beaming, flashing victory signs. He has on an orange-and-gray racing jacket of the type he wore as a champion speedboat racer two decades before. It clashes badly with his bright pink tie and gray pinstripe suit, but he doesn’t appear to care—in fact, the loud ensemble only serves to highlight a faux oil-stained handprint across the jacket’s left pocket—a corny hint about why he’s asked everyone here.
It’s a cloudy April afternoon in 2012, but Batista is full of blue skies and endless vistas. To date he’s founded five publicly traded companies and is soon to launch a sixth. His personal wealth is estimated at $34.5 billion; most of his enterprises are managed under the umbrella of a holding company bearing his initials, the EBX Group. At 55, he’s Brazil’s richest man—and the eighth-wealthiest man on earth.

Buffett and Munger - The Debt Ceiling Should Not Be Used As A Political Weapon

Wednesday, October 2, 2013

Aubrey McClendon Launches New Gas Company Focused On Utica Shale

David Einhorn Stops By Bloomberg To Discuss Some Of His Holdings

Canadian Value Investor Newsletter - Discussion With Lightstream's CEO John Wright

A notice for newsletter subscribers and interested readers.

This week's letter will include a conversation with Lightstream/Petrominerales/Petrobank Chairman John Wright.

I had a chance to ask him subscriber submitted questions and discuss the Petrominerales sale / formation of new Brazilian resource play focused company.

The letter will be out later this week.

If you are interested in becoming a subscriber, use the "Subscribe" button above on this blog.  The cost is $10 per month (you can cancel at any time) and you get a new issue of the newsletter every week.