Range Resources (RRC) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Range Resources (RRC)

RRC 37.50

+0.1%

1:56 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Bucky Katt who wrote (31)	2/23/1999 1:22:00 PM
From: doug doan	Read Replies (1) of 82

Any news from the Gas Conference? Must say things are looking better all the time. Sure the price is low but the fundamentals look great: 1. RRC has negotiated a fixed price on 63% of the gas we now own at 2.38 for the next 6 months. Bottom line is that we are mostly protected against further drops in gas prices. 2. Our little IPF Division is probably going to have a record year. They loan money to mostly small producers at an average annual return of 19%. My guess is that IPF will earn $19-$20 million this year, should find our when earning are announced how close this estimate is. Last year IPF earned $16 million and I am expecting real growth. 3. Bank credits have recently been put in place, hence the fear of defaulting on our large debt is reduced. 4. Management plans to sell some assets $50-100 million worth to deleverage the balance sheet some more. Value investors will have a hard time finding a similar company trading at such a deep (50%) discount to its estimated asset value And this is after they take a $100 million write off of assets. Makes RRC gas assets about half the cost of giant Burlington Resources. Time to buy em.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next