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An independent oil and gas exploration, development and production company with principal operations in the Gulf of Mexico, both shelf and deepwater, and in the Permian Basin in West Texas.
These guys just had a RIG explode in Vermillion Bay in Louisianna. THe stock will plumet on fears that the President will make them post a couple billion for clean up efforts. The company is small as it is and will most likely be unable to absorb costs of a cleanup should a leak present itself. The market being largely emotion driven will undoubtedly induce a massive sell off and plumet the stock price. This is a no brainer.
No they didn't. You would be much more credible and believable if you get your facts right. You might also try to learn the difference between a rig and other vessels, platforms, and other equipment before making such sweeping statements. They had a production PLATFORM (not a RIG) FIRE (not an explosion) while some temporary workers were out there painting it. (Gee what might have gone wrong?) None were injured and all rescued. The platform safety systems shut everything in without further problem. A second NON-producing (meaning it had no hydrocarbons passing through it) platform caught fire (lightning strike or such) and was self extinguished without pollution a few days later in another location. Platforms get struck by lightning out there - its not unheard of. Geeze.The stock is going to become Apache stock - hence where is the plummet coming from?
It was an engine on a pressure washer.This company is voting on a $26/share buy out next month from APA. This is as close to a sure thing as there is.
They don't exist anymore.
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