Wrap – Week Ended 6/19/15



Questions and comments under the wrap will be addressed in the Monday post. 

Tune in Monday and Tuesday for important announcements. 

Have a happy Father's Day. 

Click the link directly below this to ... .

wrap 061915

15 Responses to “Wrap – Week Ended 6/19/15”

  1. 1
    james T Says:

    Muggy warm weather continues in NYC air conditioners are on for fathers day.

    Volume Spikes in some or our stocks last few minutes of trading friday ?

  2. 2
    zman Says:

    re 1 – quad witching day, strange things happen. See SPX spike down last minute.

    We've got Iran nuclear talks deadline approaching and quarter end as well. Some of the really recently whacked likely to get worse into 6/30. I'm being patient in some ways but not in others. See tomorrow's Holdings Watch section for details. 

  3. 3
    zman Says:

    WMB – rejects $48 B offer


  4. 4
    Baylor Says:

    Z, what would you think about doing a BK stress test for some of the more risky names we discuss here?  Has that been done aleady?  I'm thinking something like a $60, $50 and $40 analysis over the next 1-5 years (mayb 1-3 years would be better, but something to get us past 2016 when many of our names are hedged significantly higher than $60 and aren't getting any credit for it becuase everyone and their dog thinks oil will be "lower for longer").

    Names I'd be interested in would be at least PVA, EOX, EXXI, HK, OAS, TPLM, WLL.

    Some of those in that list may notb risky enough over the next 3-5 years, based on the constraints I listed, to be included in the stress test.


  5. 5
    Baylor Says:

    Housekeeping Watch: Z, would you consider making the hyper links in your WordPress posts and comments section enabled to launch a new window instead of taking us away from the z content in our browser?  It may be a matter of personal opinion, but that would make my browsing a little more efficient as I could easily "x out" the newly launched window to get back to the z content after reading the article you or someone may have included.

  6. 6
    zman Says:

    re 4 – Generally not a concern 12 months out on those names. $40 and PVA, EOX, EXXI, HK are going to have to make more changes. The others would likely be OK, not BK but the stocks would be stressed further at that kind of prices. OAS is set to free cash flow now at $50 so if prices stay lower for longer there it gets easier in 2016 to fight declines so they'd just spend less and match it up. Would take a lot lower price to get me concerned about BK there or at TPLM or WLL. 

    re 5 – I'm not following what you mean. When I refresh it just adds a new comment and does not take me away from the main page. If I want to see the content of the day I just scroll up. 

  7. 7
    Baylor Says:

    Re 6, point 2 – z, I'm referring to a when one clicks a hyper link such as in comment #3. 

    If I click  that link, it takes me away from your site and loads the site that link points to as opposed to launching a separate window on top of the current window to load the site pointed to by the link

    It may be a matter of personal preference, but you can set up word press to launch a new window when a link is clicked.

  8. 8
    zman Says:

    re 7 – OK, when I click the link it takes me here, same page, blinks, that's it. But I can set it up to do open a new window I guess, can ask Scott about it and circle back. 

  9. 9
    elduque Says:

    CDD days forecasted at 74 vs norm of 23. If I read the report correctly should be positive for nat gas. 

  10. 10
    zman Says:

    re 9 – hey El-d, that's the actuals for last week. And the way to read the normal number is a postive or negative vs normal. So it's 74 CDDs, 23 over normal (which would be 51). 

  11. 11
    zman Says:

    And actually, that was the forecast for last week. So we'll have the actuals in the morning and the forecast for this week as well. 

  12. 12
    Dillon Says:

    Baylor – an easy quick fix for what you are talking about is to hold the shift button down when clicking the link. It opens it in a new window that way as well.

  13. 13
    nrgyman Says:

    RE 3:  Someone big is hunting for value in the natgas midstream space.  WMB has a national network with a strong Utica/Marcellus presence.  They are currently working on the Constitution pipeline that COG is eagerly waiting on, among other projects.  This WMB offer should help move other natgas midstream names as well, particularly those serving the Appalachian region, imo.

  14. 14
    nrgyman Says:

    RE 13:  Bloomberg saying it was ETE that made the unsolicited offer for WMB.  WMB says the 33% premium "significantly undervalues Williams".  

  15. 15
    PackMan Says:

    MHR — looks like very big holder/ seller (Relational) active all last week down to the lows; maybe all done as of Friday ?


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