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Hey Oil Barons.......

936horn

By 936horn
in Business and Markets

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Chapo

Chapo 104

Posted
Posted

I want to buy a group of O&G companies that would be in best shape to surive this downturn. I can just buy CVX and XOM but I would feel more comfortable spreading the risks over 5-10 companies.

Best in class: XOM, CVX

Best shale specific: EOG?

International: ENI and Total (will continue pillaging Africa), Shell?

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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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The Royal We

The Royal We 3072

Posted
Posted

I was driving ~300 miles round trip to Houston in a Yukon XL almost every week prior to this and would have to fill up every 7-10 days.  I haven't been back to Houston since the last week in February and I think I've filled up once since then.

I talked to a client yesterday who is getting close on an acquisition in the EF - the first good news from a client I've heard in a long time.  They are PE backed and happen to be in the right place in the cycle to capitalize.  They tried to buy these same assets last year and are now likely to get them for 1/3 of what they were offering last year.

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Shaggybevo

Shaggybevo 353

Posted
Posted
17 hours ago, Loco said:

I hope we are topping off the strategic reserves...  since we don't have any other uses for money right now.

The US doesn't need to buy oil to fill up the strategic petroleum reserve.  

Instead, since all other storage is full, the US can simply charge oil companies to store oil in the reserve.

In fact, today Australia announced they are leasing space in the SPR to store oil there.

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GHOSTUSER

GHOSTUSER 361

Posted
Posted (edited)

We have a lot of cards to play with Saudi Arabia and I don't know why we don't use  them to support a profitable baseline for domestic production. The use of tariffs to protect domestic production makes sense here and should be threatened to get the Saudis to play ball. They're not going to switch over to buying Russian or Chinese planes and military equipment when all of their gear is American made for the past 80 years. The Saudis can't even pacify the ragtag Houthis in their backyard. As much as I hate the Islamic government in Iran, you have to respect their Revolutionary Guard capability and despite all of Saudi Arabia's fancy military equipment, the Saudis know that they'd get their asses kicked in a ground war with Iran and would be begging us to step in.

Edited by Iconoclast Texan
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G650

G650 14263

Posted
Posted
1 hour ago, Okie State said:
7 hours ago, justhookit said:
I’m doing my part I’m driving in circles because otherwise I’m pretty sure I could go at least 3 months on one tank.

I might have to add some fuel stabilizer to my tank so it doesn't go bad.

I'm still driving 200 miles a day to take up y'alls slack.

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Wally Fairway

Wally Fairway 5550

Posted
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1 hour ago, Rusty Shackelford said:

USO now trading at a 36% premium to NAV

She's a broken lady...

and they announced a 1 for 8 reverse stock split, effective April 28

https://www.streetinsider.com/Corporate+News/USCF+Announces+One-for-Eight+Reverse+Share+Split+for+the+United+States+Oil+Fund+(USO)/16770302.html

 

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GHOSTUSER

GHOSTUSER 361

Posted
Posted
11 minutes ago, Dr. Beeper said:

The Saudiman is not the issue here, dude. Lack of demand is the issue. Period. 

Of course that's true because of the pandemic right now. They have started price wars in 2014 directly aimed at our domestic production and earlier this year in a spat with Russia. There has got to be some push back on our end when they do shit like that.

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The Royal We

The Royal We 3072

Posted
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I don't think it's rational to expect everyone else to curtail their production while we continue to run wide open.  I think KSA is awful and wish we didn't have to trade with them at all, but it's not realistic.  If we want to put KSA in the corner then we need to retool our refining capacity.  The current supply chain seems incredibly inefficient.

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tx 3 putt

tx 3 putt 76978

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Quote

President Donald Trump said Wednesday that he has ordered the Navy to “shoot down and destroy” any Iranian gunboats that harass U.S. ships, a directive that comes a week after the Navy reported a group of Iranian boats made “dangerous and harassing approaches” to American vessels in the Persian Gulf.

 

nothing bumps the price of oil like boats sinking in the Persian Gulf. lets see if Iran has the balls to fire off some anti ship missiles at the US Navy !

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Hate

Hate 20108

Posted
Posted
President Donald Trump said Wednesday that he has ordered the Navy to “shoot down and destroy” any Iranian gunboats that harass U.S. ships, a directive that comes a week after the Navy reported a group of Iranian boats made “dangerous and harassing approaches” to American vessels in the Persian Gulf.
 
nothing bumps the price of oil like boats sinking in the Persian Gulf. lets see if Iran has the balls to fire off some anti ship missiles at the US Navy !

How would you like to be a captain of one of those boats and get the order from someone in Tehran to “buzz” one of our destroyers? I’m going to assume that their shenanigans cease in the short term.
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ryskey

ryskey 447

Posted
Posted

Now brokers are preventing new positions in June and July crude futures to limit the exposure.  That's going to provide an artificial boost to crude oil.  That will work until we have a repeat of the May contract.  

USO still looks like a good short, but they may be forced to liquidate next month, so tread carefully.

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Cajun

Cajun 11705

Posted
Posted
21 minutes ago, Hate said:

 

How would you like to be a captain of one of those boats and get the order from someone in Tehran to “buzz” one of our destroyers? I’m going to assume that their shenanigans cease in the short term.

You kidding?

72 Virgins, HOLLA!

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Storm the Field

Storm the Field 5294

Posted
Posted

Heard some new oil jokes today if you're in the mood for some gallows humor.

You hear about how I got held up in Midland the other day? Fucker left with me 5 barrels of crude. 

Iran demanding pre-payment of funds before torpedoing tankers in the Strait of Hormuz. 

Somali pirates file for bankruptcy after mistakenly seizing VLCC.

 

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Cajun

Cajun 11705

Posted
Posted
6 hours ago, Iconoclast Texan said:

We have a lot of cards to play with Saudi Arabia and I don't know why we don't use  them to support a profitable baseline for domestic production. The use of tariffs to protect domestic production makes sense here and should be threatened to get the Saudis to play ball. They're not going to switch over to buying Russian or Chinese planes and military equipment when all of their gear is American made for the past 80 years. The Saudis can't even pacify the ragtag Houthis in their backyard. As much as I hate the Islamic government in Iran, you have to respect their Revolutionary Guard capability and despite all of Saudi Arabia's fancy military equipment, the Saudis know that they'd get their asses kicked in a ground war with Iran and would be begging us to step in.

Poloroids.

Trust me.

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ryskey

ryskey 447

Posted
Posted
4 hours ago, TonyTexas said:

Well, since USO is trading at a significant premium to its NAV, liquidation would be a good thing for the shorts. 

Agreed, that's what the spreadsheet math says.  But OIL liquidated a couple days ago at something higher than the last trading indicated.  Also, USO is getting sued:

https://www.businesswire.com/news/home/20200422005631/en/INVESTIGATION-ALERT-Schall-Law-Firm-Announces-Investigating

Settling with the ignorant long investors for anything would eat into liquidation proceeds.

I got out of half my shorts for that reason.  USO is not disclosing their holdings either, so that makes it impossible to mark the share price to NAV.

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Trey3216

Trey3216 15346

Posted
Posted
27 minutes ago, Storm the Field said:

I think this would interest Trey:

 

It’s an interesting tidbit, but gas demand has maintained relatively stable during the SiP ordeal.  China has actually scheduled receipt of several shiploads if US LNG the last few weeks (their first in a long while) and power burn demand Season is about to kickstart.  Shut-INS will lead production lower, which is exacerbated by already drastically reduced capex and typical well depletion.  
 

I think this article is a little too simplistic in its assertions, I read a lot better on a daily basis. 

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BLKNSTY

BLKNSTY 289

Posted
Posted

All the shitty small caps I play are up 30-50%, OAS, DNR, CPE. I wouldn’t throw MGY in there, but they’re up big too?
I’d say Trump is gonna block the 40MM BBL of Saudi crude on VLCCs due in Houston refining ports and people are rushing towards local crude?


Sent from my iPhone using Tapatalk

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Storm the Field

Storm the Field 5294

Posted
Posted (edited)
10 hours ago, Trey3216 said:

It’s an interesting tidbit, but gas demand has maintained relatively stable during the SiP ordeal.  China has actually scheduled receipt of several shiploads if US LNG the last few weeks (their first in a long while) and power burn demand Season is about to kickstart.  Shut-INS will lead production lower, which is exacerbated by already drastically reduced capex and typical well depletion.  
 

I think this article is a little too simplistic in its assertions, I read a lot better on a daily basis. 

Hah. I didn't even read the article linked in the tweet. Headline didn't interest me. Was really focusing on the prediction in the tweet of at least 5 bcf/day coming offline in the next few months. Keep anything like that up for half a year and you're looking at something potentially approaching a trillion cubic feet of supply reduction.

Edited by Storm the Field
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