Dan,
I live in Calif. and consider the state government to be very liberal and environmentally left wing. The basic mind set is anti energy business except alt. energy. In light of BRY's problems it might make sense to consider investing in companies that do business in states with a better attitude toward oil and gas drilling? PXP and NNN.TO both have operations in Calif. What do you think, anyone else?
Calif. oil policy
Re: Calif. oil policy
This is one reason I stay heavily weighted to companies in the Bakken and Eagle Ford. North Dakota and Texas are very friendly to the oil & gas business. The also have strong economies. You'd think some other states would learn from this.
California has incredible oil reserves. They just don't get it out on the left coast.
PXP still looks very good to me. Take a look at my forecast model under the Sweet 16 tab. PXP recently negotiated a new oil sales contract that get them about $15/bbl more for their oil.
Ohio has a shot at getting back on its feet with the Utica Shale. It has the potential to bring a lot of capital and jobs into that state.
California has incredible oil reserves. They just don't get it out on the left coast.
PXP still looks very good to me. Take a look at my forecast model under the Sweet 16 tab. PXP recently negotiated a new oil sales contract that get them about $15/bbl more for their oil.
Ohio has a shot at getting back on its feet with the Utica Shale. It has the potential to bring a lot of capital and jobs into that state.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
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mdwitte
Re: Calif. oil policy
...it makes me wonder if I should sell my BRY shares...have held them for several years, cost about $9/s...in an IRA, so can sell without tax impact...but just how much impact will the idiots running CA have on BRY?