Archive for August 5th, 2008


05
Aug

PXP Announces Big 2Q08 Beat; Reaffirms Guidance. Pre Call Note

  2Q Numbers: Production: 87,500 BOEpd, current production is between 92 and 96,000 boepd which is the guidance for year end as well. Revenue of $733 mm vs $667 mm expected EPS of $1.84 vs $1.61 expected CFPS of $4.08 vs $3.93 expected Costs: Up Straight LOE was $10.70/BOE ($1.78 / Mcfe) , up about […]


05
Aug

XCO Blows Out Numbers; Frankly Discusses Rising Operating and Cash Costs; Increasingly Targeting the Shales: Pre Call Note

  2Q Numbers: Revenue of $458 mm (ex item) vs $324 mm expected. This may or may not be comparable to analyst estimates as you can’t tell if they backed out the hedge loss) EPS of $0.34 vs $0.24 expected (this should be comparable) CFPS of $2.21 vs $1.47expected (range was $1.01 to $1.70), (this […]


05
Aug

Tuesday Morning – Oil Continues To Plunge

  I took some high strike August calls off the table yesterday for what little they were worth (see holdings watch below). Throughout this decline in the group and the commodities (about the last four weeks) I have slowly added to E&P and Oil Service call positions and this has turned out to be the […]

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