Get ready for more layoffs an asset sales! Our stock price and market cap are headed south so fast we are really floundering. The only way to stop this downward spiral is to reduce overhead meaning more layoffs, reduce or stop capital spending, and sell assets. Looking at our stock price we can't wait very long to do this either.
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Saudi and OPEC are flooding the market to squash the shale oil boom in the U.S. and put many of it's E&P companies out of business. Yes, you are right demand is not going anywhere but survival of smaller E&P companies in a downturn is difficult and impossible for some. This is similar to what Japan and China did to our steel industry. They dumped cheap steel at a loss subsidized by their governments to put many of our steel mills out of business to gain market share.
See ya there buddy!
Hopefully I will be around to watch when they escort you out the door!
You keep on with your paranoid talk and attempts to get us worked up over nothing. Do you honestly think oil will remain >60? The industry has always ebbed and flowed, this time is not different. Someone needs to pick you up by the collar to show you the big picture, because guess what my friend; this is not the first nor will it be the last time that commodity price will swing.
Jezz, we are not running a lemonade stand here. It is all about demand and that demand is not going anywhere. So go sing to loud in someone else's choir, with your short sided opinion.
Devon stock down to $34/shr market cap down to $17 billion. If management doesn't do something soon we are finished! Bankruptcy then sold off piece by piece.
This is literally the dumbest thing I have read all day. Which says a lot because I read the Daily Disappointment, I mean Oklahoman this morning.