Good time to buy in the Oil industry, RIG, BP, APC?

masraum · 06-21-2010, 04:10 AM

So it seems to me that this might be a good time to purchase some oil industry stock. Most of the oil industry seems to be down some. Some companies are down more than others. Transocean seems to have a pretty good recent history and has been fairly hard hit by all of this. BP, obviously, is also down. Personally, I don't see them going bankrupt, but who knows.

Is it too early to buy, is it a bad choice altogether, is the rebound going to take 1 year or 5 or 20?

What's the braintrust's thoughts on purchasing in the oil industry these days.

red-beard · red-beard's Garage

They will probably get a bump when the well is capped.

Rick Lee · Rick Lee's Garage

My finance guy called last week and said he wanted to buy BP. I think he got me 100 shares on Friday.

Pazuzu · 06-21-2010, 06:29 AM

The rest of the industry has already started to recover (my oil stocks are back to April 15th levels, pre-leak). RIG had a spectacular 2 years, until this, and they have the potentially go go back up to those highs. BP...dunno if I would touch it.

red-beard · red-beard's Garage

Drilling moratorium is being ruled upon today, so if you think it will go the way of the driller, get in now.

masraum · 06-21-2010, 07:47 AM

My current boss, who until very recently worked for BP thinks that RIG is a bad bet. He thinks that when this is all done, BP will sue RIG which won't be good for them. They seem to have a pretty good history, and all of this is a gamble, so I just don't know. Maybe I'll do a little of both. I don't have a ton of money to put into either.

RWebb · RWebb's Garage

hallib.

BRPORSCHE · 06-21-2010, 11:36 AM

Wft

masraum · 06-23-2010, 07:00 PM

Quote:

Originally Posted by BRPORSCHE

Wft

I'm surprised there wasn't more traffic on this thread.

I've got a buddy that works for them (I think he still works for them), Ali Iqbal. But I know it's a big co, with several locations and he works in the IT/Network dept (pretty sure), so you may never run across him.

I'm checking them out.

dd74 · 06-23-2010, 07:04 PM

Hell, I'd work on a rig in the Gulf. They haven't all blown up and sunk, have they? Nope, they haven't.

Oh yeah, and I don't think anyone can go wrong with energy stocks, particularly oil. Look at everything it goes into beyond gasoline.

island911 · 06-23-2010, 07:33 PM

You should follow the big money. Namely George Soros' and Petrobra. (Petro-Brazil)

The whole reason for the moratorium was to ensure big profits for one company not in the gulf.

Sorry if this is too political, but that's where you have to look these days. ...to know who will win, and who will lose.

enzo1 · 06-23-2010, 08:12 PM

News Headlines

island911 · 06-23-2010, 08:18 PM

does anyone listen to that guy (seriously)?

RWebb · RWebb's Garage

some people must watch it - they'd boot his show otherwise

dd74 · 06-23-2010, 10:52 PM

Sheesh! The Ralph Kramden of daytime finance. The guy's a doos.

enzo1 · 06-24-2010, 01:22 AM

Then buy Bp, just threw it out there to show what could happen.... personally I would buy a stock that has been beat up for no reason like COP.... He could be wrong, I agree, but I choose to invest in companies with as little gamble as possible, if they can't cap this thing and the stock goes lower will you shake out and lose money because your confidence gets rattled or will you buy more because you believe in the companies management? questions to ask yourself before u buy, not after

island911 · 09:36 AM

I think that we are just reeling at the source you chose - not the content of the message.

Like I said earlier, George Soros has tasked Obama to take-down BP. (so I don't doubt the potential for bk) OTOH, a judge thru-out the moratorium (massive energy stoppage) on gulf drilling. And, that little secret is out (about what's really going on) which may allow BP to not only survive, but earn them some serious respect.

SO, this situation is no doubt wobbly. ...could go either way, depending on timing of information.

enzo1 · 06-24-2010, 01:52 PM

yea, agree... this is good news Government loses bid to keep oil drilling ban | Reuters

BRPORSCHE · 06-24-2010, 02:31 PM

Quote:

Originally Posted by masraum

I'm surprised there wasn't more traffic on this thread.

I've got a buddy that works for them (I think he still works for them), Ali Iqbal. But I know it's a big co, with several locations and he works in the IT/Network dept (pretty sure), so you may never run across him.

I'm checking them out.

You looking for a job in IT?

E-mail me your resume and I'll make sure someone atleast looks at it.

island911 · 06-24-2010, 02:33 PM

That IS good news.

Bambam has NO business playing those games. ...of course he is retooling to try again. He really want's the gulf oil production stopped.

just as some here are looking for a stock deal, just think if some of these other gulf oil companies were severely weakened by a 6+ month stoppage. Just when they decide to sell for cheap (and guys like Soros get control) KingO --in his good-hearted/caring/generosity sez the wells may again produce . . . for the betterment of our great country. . .yadda yadda...