Oasis To Issue More Shares -- January 28, 2016

The standard disclaimer. This is not an investment site.

Oasis press release: Oasis has priced an underwritten public offering of 34,000,000 shares of common stock for total gross proceeds of approximately $160 million. Oasis intends to use the net proceeds of this offering for general corporate purposes and to fund a portion of its 2016 capital expenditures.  Oasis granted the underwriter a 30-day option to purchase up to 5,100,000 additional shares of common stock. The offering is expected to close on February 2, 2016.

Currently Oasis has about 140 million shares outstanding.

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The Roller Coaster Ride Continues

Jobless claims fall more than expected: fell 16,000 to 278,000; forecast: 281,000. Actually pretty close this time. Last week's number -- a huge "swing and a miss" up revised upward by another 1,000 which means last week's claims increased by a whopping 21,000. The four-week average last week was also revised upward but very, very slightly, from 285,000 to 285,250.

The four-week average: decreased to 283,000 from 285,250 the previous week.

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RBN Energy

RBN Energy: Can American’s Shale Success Be Duplicated?

Over the past six years surging U.S. hydrocarbon production from shale has exceeded domestic demand in many cases – leading to the development of export infrastructure. Large volumes of natural gas liquids (NGLs) such as propane are already being exported. Natural gas exports in the form of liquefied natural gas (LNG) are about to start and the recent end to federal restrictions offers the possibility to increase crude exports if they become competitive. A critical assumption behind all these export opportunities is that the U.S. continues to be the only country (except Canada to a lesser degree) to successfully “crack the code” in shale exploitation to produce commercially significant volumes competitively. This assumption would be turned on its head if competing countries like Mexico, China, Poland, Argentina and the U.K. are able to unlock their own shale potential.

Today we review RBN Energy’s first Drill Down report of 2016, which considers the many “below-ground” and “above-ground” factors that will determine whether and how quickly, shale development becomes a worldwide phenomenon.

Please be warned: The genesis for this blog and the associated Drill Down report is Chapter 18 of “The Domino Effect”, the newly published book by Rusty Braziel, and as such is intended to be a subliminal promotion for the book.   The report expands upon the question posed in the title of Chapter 18: “Does the U.S. Have a Monopoly on Shale?”

The book, The Domino Effect is also linked at the sidebar at the right.

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Earnings To Be Reported Today

• Baker Hughes, a whopping $2.35/share loss vs forecast 10-cent loss; obviously special factors weigh; shares rise;
• Carbo Ceramics, a loss of 25 cents/share vs a loss of 83 cents forecast; had recently suspended dividend;
• EPD, earnings of 35 cents vs forecast of 35 cents; in-line or beats by a penny;
• Ford Motor Co, huge beat; at 58 cents beat forecast of 51 cents; Ford profit triggers record $9,300 bonuses for UAW workers;
• Helmerich and Payne, crushes estimate; loss 5 cents vs Zacks consensus of 8 cents;
• Valero, huge beat; beats by 31 cents; comes in at $1.79 vs $1.45 forecast;
• Visa, forecast 68 cents, before market open;
• Amazon, shares plunge almost 15% after hours; earnings at $1.00 vs $1.58 forecast;
• Microsoft, shares up on earnings report of 78 cents earnings vs forecast 72 cents;