HK et al
Posted: Tue Nov 19, 2013 10:02 am
this maybe a clue as to what is happening in the oil patch last few days----------
As oil prices slump, Halcon Resources struggles with debt • 9:55 AM
"We're not the flavor of the day right now," Halcon Resources (HK -2.7%) CEO Floyd Wilson says of concerns about the company's ability to find enough oil and gas to pay for aggressive drilling and production plans, but he thinks the worries are off target: "Our job is to build a large inventory of good oil wells and that's what we're doing," he tells WSJ.
Goldman Sachs is the latest to warn about HK's outlook, issuing a Sell rating as it argues that mediocre drilling results in two areas will force HK to either to sell assets or more shares to cover drilling costs.
Another factor hurting HK: Some forecasters say crude oil prices have further to fall, driven by worries about China's economy and rising crude inventory levels; in that environment, investors are selling off stocks of higher-risk companies with large debt loads such as HK.
As oil prices slump, Halcon Resources struggles with debt • 9:55 AM
"We're not the flavor of the day right now," Halcon Resources (HK -2.7%) CEO Floyd Wilson says of concerns about the company's ability to find enough oil and gas to pay for aggressive drilling and production plans, but he thinks the worries are off target: "Our job is to build a large inventory of good oil wells and that's what we're doing," he tells WSJ.
Goldman Sachs is the latest to warn about HK's outlook, issuing a Sell rating as it argues that mediocre drilling results in two areas will force HK to either to sell assets or more shares to cover drilling costs.
Another factor hurting HK: Some forecasters say crude oil prices have further to fall, driven by worries about China's economy and rising crude inventory levels; in that environment, investors are selling off stocks of higher-risk companies with large debt loads such as HK.