Another fine decision by our leaders. “There’s no drilling, we have to sell for pennies on the dollars”
https://seekingalpha.com/news/3750737-diversified-energy-plans-to-buy-upstream-assets-from-tapstone-energy-holdings
5 replies (most recent on top)
Just sold by Tapstone ( former little tommie ward company ) for $419,000,000.00 USD.
Good play Buc ee Jr.
The d-mb part was ordering $50 million in 3D seismic that never got finished processing prior to selling.
Buy high, sell low
Crystal ba--s are handy. If I had one I wouldn't have sold my DVN stock a week ago and only made 15% when I could have sold it today and made 30%. It also would have helped on my CHK stock. Oh well....
Okay, I am not a fan of management in general, but this seems a little unfair. You are criticizing them for making decisions based on the market at the time instead of what they hope the market will be in the future. That over optimistic myopia is what got them in trouble in the first place. I’d rather them be realistic than try to oversell the situation. Yes those assets would be more promising now, but who has a crystal ball handy?