Gulf Coast Oil Spill

[photon]

So when does BP become an attractive buy? 40% down since the start of this I heard on the radio.

[Ducay]

Originally Posted by JustAnotherGuy

I haven't been following this minute by minute but shouldn't the US government just take over and throw all their resources at it to fix this? They can send BP the bill later.

They have been. Plus, the US Military stated that the Oil & Gas industry itself is the best equipped entity to fight the spill.

[Azure]

Originally Posted by photon

So when does BP become an attractive buy? 40% down since the start of this I heard on the radio.

The new plug they were working on started on May 30, and it was supposed to take 4 days to fix. So if it works that will be either today or tomorrow at best.

I say it will still fall.

[Azure]

Originally Posted by Ducay

They have been. Plus, the US Military stated that the Oil & Gas industry itself is the best equipped entity to fight the spill.

Except the oil & gas industry isn't allowed to work together on this.

BP is refusing outside help.

[You Need a Thneed]

Originally Posted by JustAnotherGuy

I haven't been following this minute by minute but shouldn't the US government just take over and throw all their resources at it to fix this? They can send BP the bill later.

The United States doesn't have the resources to fix the problem.

The thing is, its so far underwater that NO ONE really has the resources to fix the problem. If anyone had the resources to make it easy, BP would have called them up immediately.

[Pinner]

Politicians the military, coast guard and Hollywood are now involved... Should be fixed anytime now. Every body's an expert now.

The company is also digging two relief wells, but they will not be completed until at least August, meaning millions more barrels of crude will continue to spew into the Gulf if a speedier solution isn't found.

Their gonna have to dig faster, LoL.

[Bring_Back_Shantz]

Originally Posted by JustAnotherGuy

I haven't been following this minute by minute but shouldn't the US government just take over and throw all their resources at it to fix this? They can send BP the bill later.

See this is the kind of comment about this situation that kind of bugs me.

If you're talking about the cleanup of the spill, sure the military/goverment have the people to handle it, and they've already moved a lot of people to work on that problem.

But if you're talking about stopping the leak this comment makes zero sense. Why would any department of the government be in a better position to fix this mess, than the company with decades of experience working on oil and gas production equipment in deep water? It's BP's well, it's BP's equipment, they are the ones who are best equiped to deal with it.

[macker]

Originally Posted by photon

So when does BP become an attractive buy? 40% down since the start of this I heard on the radio.

It could be a take over target at this point. As a stock I wouldn't go near it.....40% of their reserves are in the Gulf and they could lose their license to operate in the US if Obama keeps going....You don't really know what you are buying even though it is cheap here....

[Cowperson]

Originally Posted by macker

It could be a take over target at this point. As a stock I wouldn't go near it.....40% of their reserves are in the Gulf and they could lose their license to operate in the US if Obama keeps going....You don't really know what you are buying even though it is cheap here....

A number of top oil analysts see BP as a summer bargain, and predict cash flows could jump as much as 30 percent next year.

The crisis has wiped out $75 billion in shareholder value, but many analysts issued bullish reports yesterday on the company.

"You rarely ever see an event like this pull down a company like BP," said energy analyst Peter Beutel of Cameron Hanover. "Of course, it's not creating any good will or helping its reputation."


The only downside risk would be if BP -- like Exxon before it -- declared bankruptcy to get out from under the mounting cleanup costs and possible civil suit liabilities.

http://www.nypost.com/p/news/busines...6khvd1cWDIQN9H

Cowperson

[JustAnotherGuy]

Originally Posted by Bring_Back_Shantz

See this is the kind of comment about this situation that kind of bugs me.

If you're talking about the cleanup of the spill, sure the military/goverment have the people to handle it, and they've already moved a lot of people to work on that problem.

But if you're talking about stopping the leak this comment makes zero sense. Why would any department of the government be in a better position to fix this mess, than the company with decades of experience working on oil and gas production equipment in deep water? It's BP's well, it's BP's equipment, they are the ones who are best equiped to deal with it.

I am talking about cleanup, logistics, financial at this time, making things happen. I am not saying they kick BP off the site. I am saying the US government brings all their resources to help get this thing fixed. The army core of engineers and all those skills. etc

Like I said in my original post. I have not being following this minute by minute.

[Bring_Back_Shantz]

Originally Posted by JustAnotherGuy

I am talking about cleanup, logistics, financial at this time, making things happen. I am not saying they kick BP off the site. I am saying the US government brings all their resources to help get this thing fixed. The army core of engineers and all those skills. etc

Like I said in my original post. I have not being following this minute by minute.

Well they've already got a lot of millatary and coast guard personnel on the ground there, doing what they can, so I'm not really sure what more they can do.

[macker]

Originally Posted by Cowperson

A number of top oil analysts see BP as a summer bargain, and predict cash flows could jump as much as 30 percent next year.

The crisis has wiped out $75 billion in shareholder value, but many analysts issued bullish reports yesterday on the company.

"You rarely ever see an event like this pull down a company like BP," said energy analyst Peter Beutel of Cameron Hanover. "Of course, it's not creating any good will or helping its reputation."

The only downside risk would be if BP -- like Exxon before it -- declared bankruptcy to get out from under the mounting cleanup costs and possible civil suit liabilities.

http://www.nypost.com/p/news/busines...6khvd1cWDIQN9H

Cowperson

And when do the analysts think they get things plugged up. Last week BP thought they were on track.....then August.....then November.....then next year.....there goes your 30%.....there are lots of better companies out there right now and this one will be on sale for a long time....with the clean up bill/lawsuits/looming bankruptcy I can't think of a company in a worse predicament off the top of my head...Better to look at areas that will benefit long term from this situation such as Nuclear etc...

[Tron_fdc]

Originally Posted by mykalberta

Is anyone surprised by this, other than of course Tron.

I'm surprised that the media spun it into something political?

Since when?

[Uncarved]

Here is some good information comming straight from BP as to what is going on. Apparently they are currently already drilling the relief wells already. Although this video seems to be a bit old, it gives a better explaination at to what is going on and how BP is trying to solve the problem.

Sorry if this video has already been posted.

http://bp.concerts.com/gom/kentwells_update24052010.htm

[Ducay]

So looks like they were successful in getting a clean cut on the pipe....now its all up to whether they can get the LMRP on it, get a decent seal, and keep the oil moving in the pipe. Anyone know of a good site that has an up-to-the minute live-blog style updates of the progress? Media reports and BP's website are behind by a while.

[CaptainCrunch]

Originally Posted by Ducay

So looks like they were successful in getting a clean cut on the pipe....now its all up to whether they can get the LMRP on it, get a decent seal, and keep the oil moving in the pipe. Anyone know of a good site that has an up-to-the minute live-blog style updates of the progress? Media reports and BP's website are behind by a while.

I have to give kudos to CBC last night, they illustrated the problems that are happening using a ordinary drinking straw.

They talked about the cut and cap operation as being equivalent to trying to screw your garden hose onto the outside faucett while its running at maximum pressure.

[macker]

Ratings cut today by Moody's, for what its worth based on the clean up bills effect on their balance sheet. Although they only have 11.62% institutional ownership this still is a big blow. Wonder if the 8.8% dividend is safe as it is 80% above the peer group average. Current estimates for the clean up bill that I heard based on today will be around 20 Billion on an all in basis. To put this in perspective the Exxon spill was about 4 Billion. BP has total value of 240 Billion so as long as they get this sorted out in the next few months things will be fine but that is a big if and they have now even opened up a hot line for tips on how to solve this little problem that they have A case of technology being pushed out in front of proper safety and risk analysis. Unconventional natural gas players like ECA look good here.....

[Bring_Back_Shantz]

OH MY GOD!
There is some sort of aquaman walking around on the ocean floor right now!

Either that, or they've brought up the ROV doing some work on it on the ship on the surface.

[Tron_fdc]

Originally Posted by Bring_Back_Shantz

OH MY GOD!
There is some sort of aquaman walking around on the ocean floor right now!

Either that, or they've brought up the ROV doing some work on it on the ship on the surface.

Did he look like this?

[Bring_Back_Shantz]

Originally Posted by Tron_fdc

Did he look like this?

Well he appeared to be having sex with another aquaman, so I guess he looked slightly less gay.