SWN Looking really unhealthy right now...
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I've never seen a double estimated moving average above 900 ever do this before. Have you?
I've never seen a double estimated moving average above 900 ever do this before. Have you?
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Guess they are insolvent...
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What happens if they close their door. Who relies on their company for power?
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$SWN CEO Bill Way comments from Q3 Q&A related to situational question about extended period of low NG prices and it’s effect on Cash Flow neutrality has and 2020 operations...”And the follow-on question that I think you might be asking me is, is there a price where you'll stop drilling? And the answer to that question is, which will affect this answer, and the answer is very clear. When the price of the commodities reaches a point where we cannot meet the company's rigorous economic threshold, we will reduce or stop activity. We did it in and -- for the same reason and we'll do it again. It's not our preference but that's the duty we have to create and protect value for the shareholder and it's not about activity or production growth, it's about real value creation.”
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Translation - this company is cannibalizing itself to continue existing. As I predicted NG went down and OIL isn't looking great yet. Especially, if $35 happens as I saw it...