Drilling Stocks

Discussion in 'Stocks' started by Landis82, Aug 12, 2008.

  1. First "bounce" out of the huge sell-off looks to be starting today.

    Anybody trade RIG, DO, SLB, BHI, DVN, APA, CHK, HP, NBR, NOV, or PTEN?
  2. Guess not.
    Crude selling off again . . .
  3. Crude has several technical targets in the 109-111 general range, couple this with the tropical Atlantic showing signs of life and you are not all that far from some potential stability in crude. Only thing slightly bothersome is the Dollar shorts are continuing to get routed.

    Prob not a bad place to lightly scale in though.
  4. Hernan is a Pacific storm. The Atlatic systems are not named yet. 92L is the front system in the Atlantic, hurricane hunter is flying in today to check it out. Here are the model runs, notice it hits the subtropical ridge and bends to the west. Longer range runs have it moving into the gulf through the Florida straits.

  5. Papa, I would tend to agree.
    There is also an Oil & Gas Conference in Denver this week that is causing some "nibbling" at these lower levels, as well. Here is a schedule of presenters and their times:

  6. Thanks Papa!

    Tell me, how would you play such a potential Hurricane?
    What stocks do you like?

    The usual . . .
    APA, DVN, CHK, PTEN, HP, NOV. etc?
  7. i am more of a futures trader, but i was looking at CHK filings yesterday.

    Doing the math, they are basically trading purely on the commodity value of reserves. I guess they are so heavily leveraged that they are not trading a premium to proved reserve value minus debt. Since all their gas is onshore, there is no force majuer problems and they will participate in any price run-up of gas.
    #10     Aug 12, 2008