Range Resources Share Discussion Threads

[lewisyfawr] 03/7/2018 06:27

Not happy we have had absolutely nothing from Range yet. Hope for something in next hour or so - but the PR just appears to me to be sluggish and lazy. And whilst not untruthful, very economical with truth. Give us the bad news as well - we can take it. We can accept that the goalscorer in Trinidad has played a mare, that the PR lady has been replaced due to cramp and a stress fracture. Give us full news and straight news and treat shareholders like grown-ups who are used to weedling out the nasties with their Range shareholdings anyway.

[lewisyfawr] 03/7/2018 06:23

Interesting for me this volatility in price of oil. Also will have a big effect in UK if Scotland breaks away soon (which it probably will). Because they hope oil will an expensive export to England and make Scotland as wealthy as the Republic of Ireland (average household income in Ireland currently 52,000 pounds a year!!). I liked it when it was $40 per barrel because I could fill car for 70 pounds - now it is 90 pounds and assume it would be 110 pounds if oil went beyond $100.

Don't think my Range share dividends in distant future or any increase in my shareholding value will offset that big hole in my budget. And price of food would leap astronomically as it is a very oil consuming business - whether we buy bananas or beans.

Just hope they continue to triple-lock the Old Age Pension - again thinking about the distant future, of course.

[thebreadmaker] 02/7/2018 22:49

The price of oil is one of the most heavily watched trends in economics, as it has an effect on the economies of every nation in the world. Some countries, such as the United States, fare better economically when oil prices are low. The U.S. imports far more oil than it exports, and its citizens consume oil and gas at a higher rate than the citizens of any other country in the world. Because the U.S. buys more oil than it sells, and because gas constitutes a significant budget item for most U.S. citizens, low oil and gas prices generally improve the U.S. financial picture.

For countries that rely on oil exports to fuel their economies and that are not among the world's largest consumers of oil, the relationship between oil prices and economic health is quite different. While it maintains mostly an inverse relationship with the U.S. economy, the price of oil and Venezuela's economy move pretty much in lockstep. When oil prices are high, Venezuela enjoys good economic times. When oil prices drop, economic disaster ensues for the South American country. Such was the case during the second half of 2014, when a precipitous fall in oil prices caused the bolivar currency system in Venezuela to crumble and pushed the country to the verge of defaulting on its considerable debt.

Oil comprises 95% of Venezuela's exports and 25% of its gross domestic product (GDP). High prices provide a boon to the country's economy. The period from 2006 until the first half of 2014, save for a brief dip in late 2008 on the heels of a global recession, saw oil prices mostly hover between $100 and $125 per barrel. During that time, Venezuela used its revenues from high oil prices to fund its budget and wield political power. By providing subsidized oil to as many as 13 neighboring Latin American countries, most notably Cuba, Venezuela extracted political favors and attempted to build a coalition against rival nations, namely the U.S.

Its oil giveaway program became more of a burden than a boon for the Venezuelan economy as oil prices collapsed toward the end of 2014. Venezuela gives away over 200,000 barrels of oil per day – half of which goes to Cuba - reducing the amount it has available to export for profit. When oil prices are over $100, Venezuela receives enough margin from exporting oil that the lower volume doesn't harm its economy. When oil drops significantly below that price level, the country's margins are squeezed to the point where it does not meet its spending, resulting in ballooning debt.

In early 2015, Venezuelan president Nicolas Maduro, facing record low approval ratings brought on by the country's crumbling economy, embarked on a world tour to implore other nations with heavy influence on the oil market to take measures to push the price back to $100 or more. Maduro's desperate actions serve as a testament to oil's grip on the Venezuelan economy.

[celticheart07] 02/7/2018 22:45

The differential between Brent and WTI is now just $3.34 (Brent 77.34 WTI 74.04)

[thebreadmaker] 02/7/2018 22:43

Venezuela have massive US sanctions and Trump will flood the market of oil to collapse the price. If he fails then he will suffer losses in his strong holds. Despite the left wing agenda in this country he is very popular in USA particularly after the tax cuts he actioned recently.

[celticheart07] 02/7/2018 22:33

Bread I am seeing the picture that the drop in Venezuelan production, the lowest for decades outweighs the increased production in the US. Guess who runs Venezuela'a oil conversion facility, Russia. They currently have around 75 to 80 tankers offshore that have been waiting for a month to take oil for export. Factor in Iran and Libya and a growing demand for oil in China and India and we are looking at a major deficit. If trump really wants to increase production he should sort out his pipelines that are running at capacity and simply cannot handle any more. Shipping by road or rail is too expensive. This is not ramping it is cold hard facts and that are not going to change anytime soon.

[1manos] 02/7/2018 22:27

If it all comes good
Manos is the next CEO of RRL

[1manos] 02/7/2018 22:24

Lewis... Gareth Bale is the best British player I've seen in years
Is he not English like giggs hahaha
Having said that I'm lumping a grand on the frogs if England beat columbia
That French number 10 is very special

[thebreadmaker] 02/7/2018 22:20

hxxps://oilprice.com/Energy/Crude-Oil/How-Far-Can-Venezuelas-Oil-Production-Fall.html

[thebreadmaker] 02/7/2018 22:13

Venezuela is on the brink of civil war and it has tonnes of oil but one of the highest costs to get it out of the ground. They have a debt mountain and with oil pricing dropping they will feel squeeze even further. America will not care who it hurts as its all about mid term elections and Trump needs those votes

Are you seeing the real picture?

[lewisyfawr] 02/7/2018 22:11

Sorry, thebreadmaker. Didn't mean to cut across but thought you were inviting comments about Range failings. I am at complete loss to know what nas.caq is on about. Is there a translation service for us into the English language? Or can manos explain to me what nas.caq is saying. Two best goals of WC tonight imo, manos. Both from Japan. Sad that Bale United aren't out there, as they have recently beaten teams like Belgium and Croatia.

[1manos] 02/7/2018 21:56

Cheers bread👍
Stuck £35 on at 0-2,13/2
Lucky escape.
Lucky escape for wor lass as well, giving loads of grief about gambling, if Belgium hadn't won was thinking of putting her under the patio😵

[celticheart07] 02/7/2018 21:54

I think you miss the point, Venezuela is the largest oil reserve on the planet bigger even than Saudi Arabia and Trinidad is offshore Venezuela. Now do you see the bigger picture.

[thebreadmaker] 02/7/2018 21:50

Spot on Nas_daq re: Iran, Venezuela and you can add Libya as well

[nas_daq] 02/7/2018 21:42

Oil will never hit 100 ever again, it's pretty obvious the Saudis aren't going to let it go too high and the Russians have an interest in pumping more as their economy is pretty stuffed with 10% interest rates.Oil is now at the top end of the range and the Russia and Saudi want more market share and will take it at the expense of Iran and Venezuela

[nas_daq] 02/7/2018 21:38

You are the one that doesn't have a clue about corporate governance how can range pay a dividend then....answers on a postcardThey will be lucky to get the full year accounts signed off this year although first debt repayment is due nov 2019 and they probably use a dodgy accounting firm who may sign this years offFunniest post in a while about dividends......heeheeheehee

[celticheart07] 02/7/2018 21:32

Have posted them not haven

[thebreadmaker] 02/7/2018 21:26

Thanks Lewis but I would prefer Celtic to post his thoughts on Range’s failings as I have never seen these before

[lewisyfawr] 02/7/2018 21:24

Big failing is PR. Not sure who gave contract to WPP (Sir Martin Sorrell), but there seemed loads of quite competent and very expensive people doing our PR back in 2014.

Now we are at other end of extreme - with Eva and a typewriter in London.

What I would like to see is a young and keen PR company take on our contract and organise roadshows, investor conferences, focus groups and insist the AGM takes place in UK - preferably the only great Conference Centre (Celtic Manor near Newport - prop CH). Seriously, they need to have an AGM somewhere where they have shareholders and then make that meeting available on website.

Other failings, I'm sure - but PR is so rank and easy to fix.

[thebreadmaker] 02/7/2018 20:59

Well done Manos - you can buy some Range shares. If England win you can buy Range 😂😂

[thebreadmaker] 02/7/2018 20:58

Please name Range’s failings in your opinion. I haven’t seen you post these before so would be interested