For something completely different - as in not about EFS or shale plays.
As a holder of EXXI (via its acquisition of EPL - which I took up their combo offer making the shares pretty much free carried) this article and the ensuring comments discussion really is does a good job of highlighting the issues of debt, leverage, cash flows, CapEx and liquidity within the domain of falling oil price (or rising).
Now to make it relevant you could substitute HK with their debt, liquidity and Capex and see what may. I wonder if HK will put its TMS plans on hold for a while and concentrate more on El-Halcon and Bakken (although Bakken does have a location disadvantage).
Good reading IMO.
(also picked up some cheap WTI (the stock not the index) and COP in a brave moment the night before last. Feel smart this morning but lets see in a months time. Missed out on EOG and CLR).
AKK Price at posting:
1.2¢ Sentiment: Hold Disclosure: Held