Let’s blow 5K on BP Shares

malik999

CashStrappedTeen89 wrote: »

So whats the outlook on BP in the next few months?.
I know theres a new CEO being (been) appointed, dividends may start again next year (to what extent?), any other news?.
Im thinking about putting a few k in once my other company comes through just for dividens if it works out.

Very sensible

Old_Slaphead

CashStrappedTeen89 wrote: »

So whats the outlook on BP in the next few months?.

Whatever the outlook is it will have been factored into the price.

Unexpected company good/bad news and general market sentiment will move price up or down.

CashStrappedTeen89

Thanks for that, i understand.
I think i worded it wrong though, in the basis of oil, what are there current projects looking like?.
I know they've just agreed to buy oil from a company im already invested in when they have flow tests done.

Thrugelmir

Clean up cost provision rose last week to $11.7 billion.

Yet to peak. As has been increased every month since the spill in April.

Seems as if this news is being dripped into the market so as not to cause major share price movement.

sabretoothtigger

UPDATE: BP Canada Seeking To Sell Natural Gas Liquids Business


(Updates throughout with analyst comment; adds details.)


By Edward Welsch
Of DOW JONES NEWSWIRES

CALGARY (Dow Jones)--BP PLC (BP, BP.LN) is putting its natural gas liquids businesses up for sale, a spokeswoman for the global oil and gas company's Canada division confirmed.

"BP has decided to prepare its natural gas liquids business for a possible sale," BP Canada spokeswoman Melanie Ostopowich said. "The sale would be solely to manage the various finanical impacts of the Macondo incident."

BP owns large natural gas fractionation plants in Sarnia, Ontario, and in Fort Saskatchewan, Alberta, and Empress, Alberta. BP's gas processing plant at Empress has a capacity of 4.6 billion cubic feet per day, and is one of the largest such plants in North America.

In June, BP said it plans to raise between $25 billion and $30 billion through 2011 through asset sales as the result of the oil spill in the Gulf of Mexico caused by an explosion at the BP-leased Deepwater Horizon rig that was drilling in the Macondo oil prospect.

So far, BP said has sold $22 billion in assets as part of the program. It also reported taking $40 billion in pre-tax charges during the second and third quarters as a result of costs related to the spill.

This would be BP's second asset sale in Canada as a result of the Macondo accident. In July, BP sold a chunk of its natural gas production assets in western Canada to Apache Corp. (APA) as part of a $7 billion deal that also included other assets in the U.S. and Egypt.

News of the sale was first reported earlier Wednesday, by Bloomberg News, which cited unnamed sources that BP was considering a sale of the natural-gas-liquids assets and estimated they might be worth $2 billion.

Oppenheimer & Co. analyst Fadel Gheit said it is a sellers market right now for energy properties, and BP has so far been able to fetch good prices for its assets. But he said it is hard to esimate how much the Canadian natural gas liquids infrastructure would be worth.

"It has to fit a certain buyer... or whom it would be a strategic asset," Gheit said. He said a Chinese company might be interested, since "they have deep pockets and are desperately wanting to increase their energy independence."

Raymond James analyst Pavel Molchanov said BP has so far sold mainly oil and gas reserves in the ground, which are easier to value than the mid-stream gas businesses it is putting up for sale now. "I think they would be worth at least $1 billion, but these are fairly esoteric properties, and they don't disclose much information as to what's included," Molchanov said.


-By Edward Welsch, Dow Jones Newswires; 403-229-9095; edward.welsch@dowjones.com


Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=m2J1qCIanIgz2uf374n1Wg%3D%3D. You can use this link on the day this article is published and the following day.


(END) Dow Jones Newswires

December 15, 2010 14:04 ET (19:04 GMT)

476p matches the half way point for BP share price between its highs prior to the accident and the oil spill lows

Thrugelmir

Any substance in the rumours of a bid by Shell for BP ?

mike88

The Yanks have just launched a multi billion pound lawsuit against BP for the oil spill so nobody will touch them with a bargepole. BP is a suicidal buy at present; I can't see Shell or anybody else bidding for BP or indeed buying their shares as today's news will ensure that the share price will be depressed for a very long time.

Masomnia

mike88 wrote: »

The Yanks have just launched a multi billion pound lawsuit against BP for the oil spill so nobody will touch them with a bargepole. BP is a suicidal buy at present; I can't see Shell or anybody else bidding for BP or indeed buying their shares as today's news will ensure that the share price will be depressed for a very long time.

Shares only down 1.87% so I don't think it's too bad.

BP's already paid out billions in compensation so I'm not sure how much more they'll get out of them.

Thrugelmir

mike88 wrote: »

The Yanks have just launched a multi billion pound lawsuit against BP for the oil spill so nobody will touch them with a bargepole. BP is a suicidal buy at present; I can't see Shell or anybody else bidding for BP or indeed buying their shares as today's news will ensure that the share price will be depressed for a very long time.

BP has been realising assets for cash for a while already. In additional BP has reduced cash outflow by cancelling the quarterly dividend. The lawsuit is fully expected. BP will have been accruing a provision in the accounts.

The current share price reflects the reducing size of BP. Along with the fact that the dividend yield is likely to be resumed at a level of 50% lower than prior to the diaster.

Now is the time to build a sizable share stake if a bid in the future is planned.

lvader

mike88 wrote: »

The Yanks have just launched a multi billion pound lawsuit against BP for the oil spill so nobody will touch them with a bargepole. BP is a suicidal buy at present; I can't see Shell or anybody else bidding for BP or indeed buying their shares as today's news will ensure that the share price will be depressed for a very long time.

It was always going to happen, nothing has really changed.