by: Charlie Anderson
January 02, 2011 | about: GMXR
Oil has performed about as well as the U.S. stock market has since the bottom in March of 2009. A rise in oil prices is often followed by renewed interest in renewable energy sources, like natural gas. Not this time around; natural gas prices are down around 50% over the period previously cited. With new demand from the Middle East and from the southern United States, it would seem that natural gas is the obvious source of energy that should be put to use in this situation. Supply is high and growing, and this has weighed heavily on natural gas prices, but demand should pick up, which will lead to a rise in prices. In the meantime, looking for natural gas stocks I look for value companies with high margins and good competitive positions.
This is where GMX Resources (GMXR) comes in. Trading at a Price-to-Book ratio of 0.7, the market has seriously discounted GMXR. There is a reason: earnings per share is negative. Later, I will dig deeper into the numbers, and show why. Meanwhile, if we look at other measures that don't take into account GMX's massive capital expenditures, there is a 65% discount to the deserved price. This has been picked up on by funds, and there has been a 20% increase in ownership by value funds. This is all combined with very cheap long-term technicals.
Stewardship at GMX is good. Around 65% of executive pay comes in the form of equity compensation in the form of stock. GMX has made huge efforts to cut costs in the last few years. Despite laying off 1/3 of its workforce, production is up 10% year over year. The executive team owns enough stock to definitively align their interests with shareholder's. A long-term incentive plan instituted in 2008 ensures that this will continue.
Assets in the Haynesville and Bossier shale of East Texas are where GMX is centered. This area is characterized by lower drilling costs, but also by lower overall returns than across state lines in Louisiana. According to a study by Morgan Stanley, the Haynesville shale has the lowest cost to produce a 10% return of any natural gas source in the study. This has translated into great (gross) profit margins for GMX Resources, which are some of the best in the industry, roughly equal to industry darling Range Resources (RRC).
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http://seekingalpha.com/article/244364-gmx-resources-set-to-profit-from-natural-gas-rebound?source=yahoo
deel 2:
BeantwoordenVerwijderen-------------
Earlier, I talked about the reason GMX Resources is trading at a discount to its asset value: earnings. Despite growing revenue and natural gas production, capital expenditures and other asset problems have resulted into a negative bottom line. This has destroyed the share price. The only reason 2008 and 2009 earnings per share numbers were negative were two huge asset impairment write-downs. In 2009, this charge resulted in a failure to maintain internal accounting controls, as judged by GMX's external auditor. Looking forward, management is very bullish. They expect production of natural gas, and with that, revenue, to be up about 75% over the next two years. This, along with capital expenditures flattening out at around $200 million per year, should lead to a return to profitability by the end of 2012. Since earnings per share is the primary metric used to measure profitability, this should result in an exploding share price. In the meantime, revenue and operating cash flow should continue to grow as production does.
A great side note for this industry is consolidation. GMX Resources, as it becomes clearer that it will return to profitability and that it is a great value, could become a takeover target, as discussed here.
Natural gas is ready for a rebound, and this company is set to profit from this macro trend along with its own turnaround.
Disclosure: I am long GMXR.
Voor de duidelijkheid: Ik ga niet beweren dat de aardgasprijzen weer duurzaam gaan stijgen,
BeantwoordenVerwijderenik heb geen idee of ze gaan stijgen of dalen, maar een goede belegger koopt dingen die goedkoop zijn en wacht dan rustig op z'n beurt.
GMXR = nu ca 5,50, een jaar geleden was dat nog ca 15,00.
En in juli 2008 stond de koers zelfs boven de 80,00 ......!!!!
Volstrekt helder. Dit zijn leuke dobbels met een betere risk/reward dan de eindjejaarsloterij.
BeantwoordenVerwijderenDe benadering spreekt me aan. Ik denk dat gasprijzen wel eens voor een verrassing kunnen gaan zorgen.
BeantwoordenVerwijderenIk heb Gazprom, ook niet duur, en een aanvulling in een ander werelddeel is welkom.
Rober
En +10% vandaag voor deze stockpick.
BeantwoordenVerwijderenGoed bezig Precies.
Laatste tijd in uitstekende vorm.....
Het gaat er komen :
Precies beleggingsfonds
Jaja.
Anoniem/Jaja,
BeantwoordenVerwijderendat 'Precies beleggingsfonds' is er al hoor!
En ik kan met vreugde mededelen dat het fondstotaal inmiddels weer ver boven de stand van 1 jan 2008 noteert.
Precies, hoe kunnen wij in dit interessante beleggingsfonds deelnemen!? ;-)
BeantwoordenVerwijderenGMX na stukje Charlie Anderson ff stevig omhoog boven de $6 nu toch weer behoorlijk teruggevallen naar $ 5,22 (gisteren -5%).
BeantwoordenVerwijderenNergens nieuws kunnen vinden.
Natural Gas ook niet echt gewijzigd.
Maar weer instappen voor nieuw ritje ?!
Hè jammer.....
BeantwoordenVerwijderenAandelenuitgifte (notes ?)
$ 200 miljoen nieuw kapitaal.
koers -8%
OKLAHOMA CITY, Okla., Feb. 4, 2011
(GLOBE NEWSWIRE) --
GMX RESOURCES INC. (NYSE:GMXR - News)
announced today that it has priced a private offering of $200 million in aggregate principal amount of senior notes due 2019, which bear interest at 11.375% per annum. The notes are being issued at a price of 96.833% of their face amount. The Company expects to close the notes offering on February 9, 2011, subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds of this offering (i) to fund an offer to purchase up to $50.0 million of our 5.00% convertible senior notes due 2013, (ii) to repay the current outstanding balance under its secured revolving credit facility, (iii) to fund the cash portion of the purchase price of pending acquisitions of undeveloped oil and gas leases for approximately $68.3 million, (iv) to fund our exploration and development program and (v) for other general corporate purposes.
GMX Resources Inc. (GMXR) recently bought into the Bakken. This move has been met with mixed reviews. Some say that this is a great value, while others believe that the company was very late to the Bakken party. GMX currently has 26,087 net acres in the Bakken. GMX has 40,643 net acres in the Niobrara. GMX's exhisting core acres are in the Haynesville/Bossier (44,032 net acres) and Cotton Valley (46,651 net acres). GMX has planned to focus cap ex at the Bakken and Niobrara acreages for the purpose of increasing margins through liquids. These oily assets look good; however, while I have not researched this company well enough, it seems that it has really stretched to get more liquids focused, which could signal a tough road ahead.
BeantwoordenVerwijderenCommentaar:
BeantwoordenVerwijderenGMX zit voorlopig in de verkeerde sector, nl de aardgas-sector met zeer lage prijzen.
GMX leent nu heel veel geld om meer gebieden te kopen met olie en LPG, in de hoop om hiermee de winst te vergoten.
Ik heb het gevoel dat de aardgasprijzen in NA nog heel lang laag zullen blijven.
Ik zit al een flinke tijd short in UNG en dat bevalt tot nu toe prima.
Omdat deze ETF zo snel daalt, komt er nu een omgekeerde split..!!
GMX Resources (GMXR) -- Market cap: $171 million
BeantwoordenVerwijderenGMX is a natural gas producer, which has seen its fortunes decline signifgantly in recent years. Before the 2008 crash, the stock, at one point, was worth over $80 a share. Recently it has been struggling to stay above $5 -- only 7% of 2008's high.
Originally the company vertically drilled in the Cotton Valley and Travis Peak formations in East Texas, most reserves and production are still there. Now, the company is horizontal drilling Haynesville/Bossier Shale.
GMX is, perhaps belatedly, shifting into oil with recent acquisitions in Bakken and Niobrara oil shales. The March 11, 2011, 4th Quarter and Year-end Earnings and Operational Update (pdf available here) gives a good summary of GMX Resources' current position and future intentions.
Insider transactions have been mostly buys since last May (source: finviz).
Summary
This article is intended to point out the rich reserves some small cap energy companies have. It is only intended as a starting point for investment ideas. Do your own research with due diligence before investing. Declining oil prices will likely result in declining prices for the above equities.
I would consider all the above companies as somewhat speculative -- they are primarily insurance against high oil prices with long term appreciation and buyout potential as pluses.
Disclosure: I am long GMXR and long Tag Oil
Bruce Vanderveen
GMX Resources (GMXR): GMXR is engaged in the exploration and production of oil and natural gas in the U.S. It has interests in two oil shale resources, including the Williston Basin in ND and MT, and the DJ Basin in WY. Insiders currently hold 7.3 million or 12.7% of outstanding shares and on Wednesday, four insiders reported that they bought a total of 148,000 shares for $0.23 million. This included CFO James Merrill (10,000 shares) and Directors David Lucke (33,000 shares), Jon McHugh (5,000 shares) and Ken Kenworthy (100,000 shares). This is significant in terms of the size, the number of insiders who bought, and that insider buying is relatively unusual at GMXR given that they bought only an additional 36,500 shares during the past year (selling none).
BeantwoordenVerwijderenGMXR shares currently trade at the lows after a rough three years during which they have dropped from an $88 high in 2008 to below $2 currently as concerns have mounted over poor operating results (the company has missed on its earnings for each of the last four quarters) and liquidity issues. Although very speculative, GMXR holds promise due to its natural gas reserves, hence the heavy insider buying this week can be interpreted as a sign that shares may have bottomed out at these levels.
LETTER FROM THE CEO
BeantwoordenVerwijderenGMXR’s 2011 Third Quarter Update
GMXR’s objectives for the second half of 2011 have been to increase our liquidity in order to fund our transformation of the company’s operations into oil, liquids drilling programs. Our recently announced high yield bond exchange will create a $100 million to $120 million in new liquidity and combined with an expected Volumetric Production Payment agreement completed by year-end for approximately $55 million ensures our ability to fund our drilling program in 2012 and into 2013.
Transformation from a one basin, natural gas Company to a multi basin oil producer continues! Our acquisition of 75,715 net acres in two oil resources in the Williston and Denver-Julesburg (DJ) Basins targeting Bakken, Three Forks and Niobrara Formations facilitates diversification. These prime acreage positions will lead to transformational oil development programs for GMXR. The oil development begins in the very active and attractive Williston Basin, where our acreage houses potential for 150 – 1,280 acre units; containing 600 horizontal drilling locations. Our other oil development is in the emerging oil resource play of the DJ Basin, where with the aid of high quality, 3D seismic our geosciences department has begun to evaluate the development potential of 146 – 640 acre units; containing 584 horizontal drilling locations.
We believe our horizontal gas shale experience developed in Haynesville/Bossier (600 horizontal drilling locations), our participation in basin specific consortiums, data exchange relationships with other operators and our technical team’s Rockies experience will lead to our success in the development of the Bakken, Three Forks and Niobrara horizontal resources. The B/3F is a statistical play where expected EURs range from 300,000 - 800,000 BOE. Current drilling plans in North Dakota over the next several months will include wells in our two largest acreage positions in Billings and McKenzie counties, which contain 128 potential operated locations. This inventory for these two counties alone is 16 years for 1 rig. Over next several months, we should have a better view of the statistical spread of all our well results, non-op wells and those of others around all of our acreage. This production information will allow us to target the highest producing areas in our future development plans, resulting in our target average EUR of 500,000-600,000 BOE. We expect to have 6 Bakken producers by mid-January 2012 and results from our 1st Niobrara well in December 2011.
Our Bakken, Niobrara and Cotton Valley Long Horizontal (“CV Hz”) development will all compete for our 2012 CAPEX budget. CV Hz development of 7,500' laterals, we estimate will cost about $8 MM and recover about 7.5 BCFE, including 18% oil and NGLs. Processing uplift of $1, plus declining completed well costs of 10%-20% could make re-establishing a CV Hz drilling program very economical, with comparable rates of return in all three plays. Our expectations are that adding gas to our pipeline system, further cost softening in East Texas will increase our Endeavor Gas Gathering LLC value and rate of return on this program. This overall repositioning of our development plans funded by financial transactions should create ample liquidity to execute our plan, demonstrating the value and benefits of our multi-basin Four Resource play inventory.
These oil developments reposition GMXR from 96% natural gas to 40% oil in 2013! It diversifies our assets into three significant Basins, two oil and two natural gas resource developments. By managing our capital allocation, to the highest risk-adjusted rate of return, for either oil or natural gas developments, across 1,500 horizontal locations in these four resource plays; we like GMXR’s future.
Ken Kenworthy Jr.
Chief Executive Officer
GMX RESOURCES INC.
commentaar:
BeantwoordenVerwijderenGMX noteert nu vlak bij z'n historische dieptepunt; hoe is het mogelijk dat nog niet echt lang geleden dit aandeel boven de $50 noteerde...!!!??
Het bedrijf is natuurlijk het slachtoffer van de lage gasprijzen, maar gaat nu overschakelen naar olie.
Dit aandeel long afgedekt door UNG short, is geen gekke positie, temeer daar UNG wellicht uiteindelijk naar nul gaat door de voortdurende verliezen op het doorrollen van hun future-posities.
3 Oil & Gas Stocks To Consider, 2 To Avoid
BeantwoordenVerwijderen| January 19, 2012 |
GMX Resources, Inc (GMXR) - GMXR is an energy and gas company with oil shale operations in ND and MO and natural gas operations in TX with a market capitalization of $68.55M and a yield of 2.31. On December 9th, 2011, GMXR declared a cash dividend of $.578125 per share for holders of record on their 9.25% Series B Cumulative Preferred Stock for period ending Dec 30, 2011. This company, while a dividend payer, is highly leveraged with an operating income of only $1.9 million as of the end of 3Q of 2011 with their oil operation not seeing much of a profit at all. They continue to borrow a lot of money to fund operations which has bothered the market enough to spur Moody's to downgrade their unsecured notes to Ca. Couple that with a 19% price drop in gas prices in 2011 over 2010, and income prospects aren't as promising especially since natural gas supplies are exceeding normal levels because of warmer than usual weather at the beginning of the cold season. The share price for GMXR was trading around the time of writing this at $1.18, on the low end of their 52-week range. Their earnings per share is -6.29 and their last close saw a .084% drop. Their beta of 2.03 confirmed their instability in the overall market. Going forward, GMXR seeks to continue funding its operations in 2012 from its liquid asset and well results, relying on new oil hedges to keep cash flow going. Its 4Q 2012 goals are to increase production by 40%-50% and revenue by 60%-70%, but we're not sure how realistic that is.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
More articles by Vatalyst »
GMX Resources Inc. Provides an Operational Update and Guidance for 2012
BeantwoordenVerwijderenSymbol Price Change
GMXR 0.94 +0.06
OKLAHOMA CITY, Feb. 1, 2012 (GLOBE NEWSWIRE) -- GMX RESOURCES INC., (NYSE:GMXR - News) today announces an operational update on our Bakken development program, provides production guidance for the first quarter and year-end 2012 and provides an update on the Company 's capital expenditures for 2012.
Review of 2011 Important Accomplishments
Over the last 14 months many important accomplishments have been made regarding the Company's strategic direction to transform from a concentrated natural gas producer into a more diversified energy Company focused on an accelerated program to increase oil as a significant component of our near term exploration and production activities while improving liquidity in challenging market conditions.
Agreements to purchase 35,524 acres in the Bakken (150/1,280 acre Units) and 40,191 acres in the Niobrara providing the Company the opportunity to switch from primarily a natural gas producer to predominately an oil producer
Issued equity for approximately $105 million of cash and $200 million in High Yield Bonds to make acquisitions and fund drilling
Suspended natural gas drilling in July 2011 to re-direct capital to significantly higher rate of return acreage
Reduced H&P Flex Rig contract obligations by $47 million
Successfully completed a natural gas VPP for $49.7 million
Captured $18.5 million of natural gas hedge value
Terminated credit agreement and related financial maintenance covenants; no longer dependent on commercial lending
Successfully generated $100 million in new liquidity in connection with Bond Exchange
Implemented plan to reduce cash G&A by an estimated 21% for 2012
Established operational footprint in one of the largest and most competitive oil plays in USA
Prefunded planned 2012 drilling program with recent liquidity events
Given the continued decline in natural gas pricing resulting from an oversupply created by the success of horizontal drilling in the United States, our decision to transition to an oil producer and to suspend drilling of our core East Texas natural gas assets continues to be a prudent business decision. The liquidity-enhancing steps undertaken by the Company during the fourth quarter of 2011 consisting of the issuance of secured senior notes due 2017, the execution of the VPP and the monetization of natural gas hedges were both creative and challenging to accomplish but resulted in approximately $168 million of additional capital available for drilling. We plan to proactively maintain liquidity and are working on new oil hedging strategies.
Operations Update
BeantwoordenVerwijderenThe Company has shifted its activity in 2012 to actively drill our McKenzie County and Billings County, North Dakota leaseholds. In McKenzie County, our first non-operated well, the Taboo #1- 25-36H Sections 25 & 36 Townships 147N Range 100W was drilled by Slawson Exploration and had a 24 hour IP of 1,436 BOE/D. Our first Billings County well, the Evoniuk #21-2-1H was completed in Sections 2&11 Township 142N Range 100W with a total depth of 20,600' and lateral length of 9,293'. The well was completed with a 30-stage sliding sleeve swell packer system and produced a Peak Rate test of 637 BOE/D without recovering any frac balls. The well has flow restrictions downhole that will require a workover rig. To that end, the Company has signed a long-term new build contract for a dedicated fit-for-purpose workover rig and crew, with an expected delivery of March 1, 2012.
The Company's fourth operated well and second McKenzie County well; the Lange #11-30-1H in Sections 30 & 31 Township 147N Range 99W is currently drilling in the lateral with a target of Middle Bakken production and has exhibited similar oil shows to the Taboo. The Lange #11-30-1H is a direct offset and located 3,000 feet east of the Taboo. The Company also reports today that we have elected to participate with Continental Resources Inc. in the drilling of the Pojorlie #21-2-1H well in Section 2 &11 Township 146N Range 98W of McKenzie County. The Company will have 34% working interest in the well that is expected to spud in February 2012. The Company will focus its drilling and development activities in Billings & McKenzie Counties in 2012.
In Stark County North Dakota, the Company has drilled and completed two Three Forks wells.
The Wock #21-2-1H and Frank #31-4-1H were both successfully fracture stimulated but are also awaiting the workover rig to clean out their laterals. These wells represent five successfully drilled and completed wells in our Bakken Petroleum System acreage and drilling program.
http://finance.yahoo.com/news/GMX-Resources-Inc-Provides-pz-1459613977.html?x=0
Production for Fourth Quarter and Year-End 2011; Guidance for 2012
BeantwoordenVerwijderenProduction for Q4 2011 was 4.8 BCFE, down 9% from Q4 2010, and production for 2011 was 24 BCFE, up 37% from 2010, before designated VPP volumes. Production allocated to the Company's VPP agreement in the fourth quarter was 0.45 BCFE. Oil production for the fourth quarter 2011 was 28,171 BBLs, representing an increase of 17% over the fourth quarter of 2010 and a 50% increase over the third quarter of 2011. Crude and NGLs as a percentage of revenues, excluding hedges, during the fourth quarter 2011 were 39% compared to 23% in the fourth quarter of 2010. Estimated production guidance for the first quarter 2012 is 591,000 BOE which includes an estimated 52,000 BBLs of oil. The Company projects oil production to increase 302% from 92,837 BBLs during 2011 to approximately 373,000 during 2012, and for total production to be approximately 2,274,000 BOE. Oil production in BBLs from the year-end 2011 to year-end 2013 is projected to have a compound annual growth rate of approximately 215% assuming a second rig is added in 2012 and a third rig is added in 2013.
Capital Expenditures for 2012
Capital expenditures are expected to be approximately $97 million in 2012 including capitalized interest and G&A. Bakken targeted drilling capital expenditures are expected to be approximately $68 million for 7.1 net wells. The Company plans to alternate our one-rig program between McKenzie and Billings Counties North Dakota.
2011 Year-End Reserves/ Oil Hedges
The Company expects to complete our 2011 year-end reserve report with independent reserve auditors and expects to provide it on or before our fourth quarter year-end financial and operational update call. The Company is in the process of finalizing hedge facilities with several counterparties and we expect to begin actively hedging our projected oil production in February.
Management Comment
Michael J. Rohleder, President said "The increased liquidity created last year allowed us to enter the Bakken play earlier than forecasted, eliminated the bank revolver and its restrictive maintenance covenants and fully funds our Capex plan in 2012. We jump started our transition from a natural gas only producer to an oil producer beginning in July of 2011. Our first two wells in the Bakken demonstrated that we could successfully make this transition and the results of our latest wells are in the direction of what we expect to have in our Billings and McKenzie units where we will focus our drilling during 2012. By drilling in the most productive areas of our acreage, in and around other successful operators, we intend to maximize our economics, improve our average EURs and more rapidly generate greater enterprise value. The reduction of G&A expenses is another step in addressing our financial challenges in a proactive manner. We are committed to the goal of successfully transitioning the Company into an oil producer, and this year will be the most challenging. We expect our rapidly increasing oil production will serve to offset some of the decline in revenue from natural gas and we have committed 100% of our 2012 drilling capital expenditures to oil exploration.
Re: GMXR preferreds are great value here.. 31-Jan-12 10:54 am
BeantwoordenVerwijderenGMX Resources, 9.25% Series B Cumulative Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 9/30/2011 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Distributions of 9.25% ($2.3125) per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the 10th day prior to the payment date or on the date fixed by the board, not more than 30 days or less than 10 days prior to the payment date. Dividends paid by the preferred are eligible for the 15% tax rate on dividends under normal restrictions and are also eligible for the dividends received deduction for corporate holders (see page S-29 of the prospectus for further information). In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company.
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GMX Resources Declares Cash Dividend On 9.25% Series B Cumulative Preferred Stock
Thursday, 8 Dec 2011 07:03pm EST
Natural gas pricing deteriorated throughout 2011 and continues to deteriorate making the decisions to cease drilling our Haynesville last summer and to enter into a VPP agreement for a portion of our gas production in December even more meaningful for the Company. Our core East Texas natural gas assets are virtually all held by production and with existing infrastructure and readily available services we are positioned to re-start a gas drilling program when natural gas prices rise to economic levels. In the meantime, we believe that we have tremendous upside with our proved and potential natural gas reserves."
BeantwoordenVerwijderenGMXR is a resource play rich E&P company. Oil shale resources are located in the Williston Basin, North Dakota & Montana targeting the Bakken Petroleum System and in the DJ Basin, Wyoming targeting the Niobrara Petroleum System; both plays are 90% oil. Our natural gas resources are located in the East Texas Basin, in the Haynesville/Bossier gas shale and the Cotton Valley Sand Formation, where the majority of our acreage is contiguous, with infrastructure in place and mostly held by production. We believe these oil and natural gas resource plays provide a substantial inventory of operated, high probability, repeatable, organic growth opportunities. The Company's multiple basin strategy provides flexibility to allocate capital to achieve the highest risk adjusted rate of return, with both oil and natural gas resources throughout our portfolio. Please visit www.gmxresources.com for more information on the Company.
De laatste tijd daalde de koers van GMX zo hard, dat je zou denken dat het bedrijf op weg was naar een faillissement, gisteren werd een dieptepunt bereikt van 86 cent.
BeantwoordenVerwijderenToevallig heb ik gisteren wat preferente aandelen (GMRX PR) gekocht voor $ 6 (dividend 2,31 per jaar).
Nabeurs verscheen een bericht waaruit blijkt dat ze goede vorderingen maken op weg naar meer olieproductie.
De gewone aandelen staan vandaag weer op ca 1,17 en de pref's staan op ca 7,50.
Als ze dit jaar doen wat ze beloven, dan is de huidige koers een spotkoopje en als de gasprijzen ook nog eens gaan stijgen dan staat de koers algauw weer op 10 of 20 of veel hoger.
Die koers van 10 of 20 zal nog wel een paar jaartjes uitblijven, pas als de USA flink gas (LNG) gaan exporteren en als er GasToLiquids-fabrieken komen, kunnen we een stijging van de gasprijzen verwachten tot het nivo van de rest van de wereld.
VerwijderenEn dat zijn per definitie projecten die zeer veel tijd vergen.
Een zeer fraaie presentatie over GMX en het 'Bakken-gebeuren':
BeantwoordenVerwijderenhttp://gmx.investorroom.com/file.php/226/IPAA_Feb_2012.pdf
http://gmx.investorroom.com/presentations
Beide soorten aandelen GMX stijgen vandaag met ca 50 tot 65%.
De gewone aandelen GMX stijgen vandaag tot een hoogte van ca 1,77 en sluiten op ca 1,48; er was hier duidelijk sprake van shortdekking.
VerwijderenDe prefs daarentegen stijgen nogmaals met ca 68% en eindigen op ca 14,67.
dus een winst voor mij van ca 145% in 3 dagen tijd...!!!
OKLAHOMA CITY, April 3, 2012 (GLOBE NEWSWIRE) -- GMX RESOURCES INC., (NYSE:GMXR - News), today announces that the Company has successfully drilled and completed its fourth operated horizontal Bakken well, the Lange 11-30-1H, 89% working interest, located in Sections 30&31 Township 147N Range 99W in McKenzie County, North Dakota. The Lange 11-30-1H was drilled to a measured depth of 20,519' with a lateral length of 9,348'. It was completed as a 32 stage frac Middle Bakken producer achieving a peak rate of 2,549 boepd @1,500 psi flowing casing pressure.
BeantwoordenVerwijderenHet lijkt wel of de beleggers er nog steeds niet helemaal op vertrouwen dat GMX het gaat redden, anders kan ik het niet verklaren dat GMX op dit bericht zo abnormaal veel stijgt.
VerwijderenDit bericht, net zo als het vorige positieve bericht, worden kennelijk gezien als een soort opluchting waardoor de koers explodeert.
Maar het zou natuurlijk ook met shortdekking te maken kunnen hebben.
GMX Resources Inc. (GMXR) -NYSE
1.55 0.30(24.00%)
1 jaar verder en het ritme bij GMXR is nog steeds hetzelfde, hoewel het aandeel vele malen hoger noteert..
VerwijderenPrecies, ik kon geen specifiek aardgas draadje vinden, dus maar even hier. Ik heb er in het verleden ook al eens op Inveztor over geschreven, dat de aardgasopslag in de VS dreigde vol te raken, maar dat tot twee keer aan toe met zeer strenge winters allemaal nog net goed ging. Nu lijkt de situatie toch echt anders te zijn. De winter is relatief zacht geweest en storage is enorm hoog voor de tijd van het jaar. Op de site www.americanoilman.com staat een spreadsheet en grafiek (op "Americanoilman Gas Storage" klikken). Uiteraard is op de site van de DOE ook data te vinden. Het is dus maar goed dat GMXR meer op olie focussed :)
BeantwoordenVerwijderenSHR,
Verwijderenberichten over aardgas kun je kwijt op het olie- en gasdraadje.
Ik zit al heel lang (sinds berichten op Inveztor) short in UNG.