https://www.wsj.com/articles/oil-volatility-picks-up-putting-2019-rally-under-scrutiny-11556530201?mod=rsswnIrishTxAggie said:But removing the waivers for certain countries to deal with Iran will help prop oil for a bit.Rice and Fries said:
On CHK...https://finviz.com/quote.ashx?t=CHK
I have a buddy who works for NGP Capital. Its an O&G private equity company. Long Story Short....They sold out of most of their remaining shares in March. That to me, is not a good sign.
They had shares of CHK from their ownership in WRD. This was a Eagle Ford Shale operator that NGP helped finance and start. My guess is that they still had remaining shares post closing of the CHK - WRD merger and wanted to be done with it.
That said, I was really bullish on WRD before they were bought because of their total capacity in the Eagle Ford Shale. They were building their own sand facility to help them frack and lower costs.
Long run, I like CHK. Not sure I'd expect great things in the short term. Too much debt and Daddy Trump is pushing against creeping gas prices.
From the Article: "President Trump, who said he encouraged the Organization of the Petroleum Exporting Countries to increase supply and keep prices low.
Prices surged earlier in the week after the Trump administration surprised some market participants by ending waivers on Iran sanctions that allowed some buyers to continue purchases from the Islamic Republic. Last week marked the first time in nearly two months that oil logged multiple moves of at least 2.5% in either direction."
