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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (57700)12/31/1999 11:48:00 PM
From: Razorbak  Respond to of 95453
 
Excess Cash Flow

Jim:

Oil company's always have and always will spend 100% of their excess cash flow.

... after repaying debt, and paying shareholder dividends. <g>

Razor



To: jim_p who wrote (57700)1/1/2000 10:07:00 AM
From: Crimson Ghost  Respond to of 95453
 
JIM

Excellent post! However today some of the newly merged oil giants have annnounced they will be using some of their cash flow to repurchase stock rather than drill for oil.

One of the things worth tracking closely is the relative market performance of those oil companies aggressively expanding capex versus those building cash or repurchasing stock. When the former start to consistently outperform the latter -- the implications for OS will be extremely bullish


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