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936horn

By 936horn
in Business and Markets

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Pescado_Rojo
Pescado_Rojo

I bet you could score a Lafayette 10 for a mani/pedi gift card and a pound of boudin right now.  I was sitting in a Starbucks by the med center in Laffy once, and a brand new white Escalade, lift

Rimbo
Rimbo

If you're Trump right now, you're watching Fox News, eating a cheeseburger, and getting mad about the lyin' media and preparing your next tweet about how some lupus treatment should be given to your s

fattyflattie
fattyflattie

My time finally came last Friday AM. I have survived around a dozen, give or take 1-2, since ‘08.  I was consulting for a project set to go in ‘22, but with all the uncertainty, it sounds like they’ve

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FartingMonk

FartingMonk 3606

Posted
Posted
On 7/4/2019 at 9:00 AM, tx 3 putt said:

On the downstream side, the entire chemical industry is headed towards a deep downturn 

I work downstream for the world's largest chemical company.  While I see some concern on certain chemiçals, the cheap NG feed stock is doing nothing but printing money for us.  The supply is still trying to catch up to the demand because most chemical plants 10 years ago were barely above water and so they were just trying to maintain.  As far as ethylene the forward thinking places saw it coming and started building units that eat ethylene like crazy to make a more expensive product.  So ethylene prices dropping as forecasted maybe a good thing for us. And it will probably let us aggressively go after assets of other companies or for us to just swallow them whole

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FartingMonk

FartingMonk 3606

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Posted

Yeah, I know we were in the process of buying out a Brazilian company but they balked at the last minute trying to get more money and our group walked off and said deal is off.  Now we are probably just waiting for the Brazilian company to go bankrupt in a few years and buy them for cheap

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Archer

Archer 474

Posted
Posted
1 hour ago, Trey3216 said:

Centex.   Willing to move/travel.  Either.  

Should have plenty of field opportunities in Midland/SE NM could try to go the service company route or get straight in with an operator. 

With all of the layoffs the past few years, office gigs may be tougher but would think Midland would be the best spot again. 

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skipmcgee

skipmcgee 199

Posted
Posted
1 hour ago, Neonmoon said:

https://www.post-gazette.com/business/powersource/2019/07/10/Toby-Rice-EQT-proxy-battle-shareholder-vote-oil-and-gas-shale/stories/201907090155

Rice Energy sells to EQT 2 years ago. The Rice leaders take over EQT 

 

 

Probably the most thorough operational plan that I've ever seen from any activist.  It'll be interesting to see if they can execute on it.

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skipmcgee

skipmcgee 199

Posted
Posted (edited)
13 minutes ago, Neonmoon said:

Talked to some EQT folks and they were blindsided 

Blindsided that the Rice Bros won the proxy fight?  They had two of the three proxy services (ISS and Egan-Jones) and the three largest active shareholders (T. Rowe Price, DE Shaw, and Kensico) all come out in support of their bid.  I didn't expect the 80%+ support, but it seemed pretty damned obvious who would win.  

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skipmcgee

skipmcgee 199

Posted
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31 minutes ago, Neonmoon said:

They weren't high up. They showed up and the big dogs were packing their shit. But you might have a point. 

Fair enough.  I guess its easy to forget that these things aren't quite so obvious to people who don't do this for a living.

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tx 3 putt

tx 3 putt 76958

Posted
Posted
On 7/10/2019 at 10:38 AM, Archer said:

Should have plenty of field opportunities in Midland/SE NM could try to go the service company route or get straight in with an operator. 

With all of the layoffs the past few years, office gigs may be tougher but would think Midland would be the best spot again. 

im sure living in your car is very under rated !

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Neonmoon

Neonmoon 38129

Posted
Posted

Callon Petroleum to acquire Carrizo Oil & Gas in all-stock deal valued at $3.2 billion

 

Quote

Independent energy company Callon Petroleum Co. CPE, -15.16% said Monday it has agreed to acquire Carrizo Oil & Gas Inc. CRZO, +2.57% a Houston-based company engaged in E&P and oil and gas production, in an all-stock deal valued at $3.2 billion. Under the terms of the deal, Carrizo shareholders will receive 2.05 Callon shares for each share owned, equal to $13.12 per Carrizo share based on its closing stock price on July 12 and equal to a premium of 18% over Carrizo's trailing 60-day volume weighted average price. Callon shareholders will own 54% of the combined company. "Together with Carrizo, we will accelerate our free cash flow, capital efficiency and deleveraging goals through an optimized model of large-scale development across the portfolio," Callon Chief Executive Joe Gatto said in a statement. The deal is expected to close in the fourth quarter. Callon shares fell 12% premarket and are down 1% in 2019 through Friday, while the S&P 500 SPX, -0.12% has gained 20%. Carrizo shares were up 6% after resuming trade following a halt for the news.

 

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Trey3216

Trey3216 15346

Posted
Posted
2 hours ago, Neonmoon said:

Callon Petroleum to acquire Carrizo Oil & Gas in all-stock deal valued at $3.2 billion

 

 

Interesting deal.  I think CRZO is way undervalued by this deal, but it shows how ugly debt in the industry is at the current time.  

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Neonmoon

Neonmoon 38129

Posted
Posted
3 hours ago, billfromlaketravis said:

Where’s is Carrizo’s best acreage? It’s been a few years, but I remember they had some decent Eagle Ford.

They used to be Barnett, Marcellus, Niobara, but divested all that. Then they became Eagleford and later Permian players 

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TxEx99

TxEx99 31

Posted
Posted
54 minutes ago, kevwun said:

So Iran has started seizing tankers in the Straight of Hormuz.

What's their play here?  Do they believe that countries don't want to go to war so they'll negotiate?  Do they think their nuclear ambitions are a deterrent?  They've been fucking with the Japanese, the British, USA, Saudis etc.  How many nations can they fuck over before somebody starts dropping bombs?  

And am I a bad person that I'm extremely grateful that this happened to the Brits and not us.  Though we're bound to get involved.  This is a shitty game of chicken.

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Dr Fear

Dr Fear 1268

Posted
Posted

Basic Energy Services just completed a 3.4 mile horizontal in the Delaware.

CARLSBAD, N.M. (AP) — Drilling of the longest horizontal oil and gas well in the history of the Permian Basin has been completed as booming oil production in the region continues to center around shale in southeast New Mexico and West Texas.

Fort Worth-based Basic Energy Services recently announced the well was completed in the Wolfcamp, The Carlsbad Current-Argus reports. Wolfcamp is shale of the Delaware Basin, which sits below most of New Mexico's Eddy County and the southern half of the state's Lea County

http://www.fortworthbusiness.com/news/historic-horizontal-well-in-permian-basin-completed/article_2c0622ba-ae34-11e9-91e8-d7eded5d7a30.html

 

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Trey3216

Trey3216 15346

Posted
Posted

Apparently, the weeks(months) of rig count drops and the caped management at most everywhere is finally starting to show in production declines.  API estimate in the low/mid 11mmb/d region, well over a million bpd and almost 2mm bpd lower than the actual recent high and max estimates.  Market has to equilibrate sometime

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Trey3216

Trey3216 15346

Posted
Posted (edited)
  • EIA Petroleum Inventories: Crude -8.5M barrels vs. -2.6M consensus, -10.8M last week.
  • Gasoline -1.8M barrels vs. -1.5M consensus, -0.2M last week.
  • Distillates -0.9M barrels vs. +1.0M consensus, +0.6M last week.
  • Futures +0.59% to $58.39.

API also reported a -1.3 (I think that was the number) draw from SPR last week as well.  Production is falling, demand is still pretty damn strong.  Gonna be interesting times folks.  

 

Now pointing to a pretty healthy storage deficit 

 

Might be the one, true thing that could save a bunch of the small E&P's.  

Edited by Trey3216
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