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Hey Oil Barons.......

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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tx 3 putt

tx 3 putt 77428

Posted
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On 5/13/2020 at 9:39 AM, TonyTexas said:

That OXY severance auction is some real Hunger Games shit. 

the oxy threads on thelayoff.com are brutal. oxy has to go low because they probably don't have enough on hand for 'normal' layoff packages. also, anadarko employees are getting much better packages. 

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fattyflattie

fattyflattie 4638

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15 minutes ago, Pescado_Rojo said:

bruh, if you're going fast enough you can just float over the skinny stuff! 

I’m not worried about skinny as much as I am utility. I’m ok with being “slow” at 70 but have the ability to cross a bay when the weatherman got it wrong.  I still contend people experience the speed and overlook the price and shortcomings in ability of those. If I wanted skinny I’d get a hells bay to complement my current ride and use the leftover money at Alice Fayes. Rides on a cloud of air lol gtfo. 

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DCA_HORN

DCA_HORN 725

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Damn, that would be pretty big news if they shut the whole Dallas office.  I've worked with some of their portcos that have not gone according to plan over the last few years for sure, but that still would be a surprise.
Which ones would say have gone according to plan?
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The Royal We

The Royal We 3072

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Fair point on their portcos over the last 12 months for sure, definitely more gutters than strikes.  Some of them that I think they did pretty good on within the last 2-3 years: Ameredev, Silverback, Forge and Felix. 

I work with another one that had their assets under LOI that totally fell apart a few months ago.  I think the buyer lost quite a bit of cash that had already gone hard.  

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pepper brooks

pepper brooks 580

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It’s been a crazy 6 years in the industry. The 2014 crash.  Climb back to marginal prices decent little run to 60 and then another crash.  I’ve ridden the roller coaster of building a small independent into a 200 boed org. Sold out on that but retained management. Ran for 3 years and the parent decided to sell it off in 2017.  Management team got together to take on running some assets that had gone into receivership of bond holders. Ran that, made some acquisitions along the way. Latest crash is going to bury that. Im heading to a new group that is going to put together a yield fund to try and take advantage of the opportunities this market black swan event has caused.  I don’t know the point in any of that other than this industry is the craziest thing. I swear I must have Stockholm syndrome for it or something, but i love it. I’m thankful for the opportunities I’ve had and the rewards over the years have far outweighed the rough times. Hoping the new venture takes off and this will be the end game. One more run is all I need.  

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BTW

BTW 370

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On 5/21/2020 at 1:03 PM, The Royal We said:

Fair point on their portcos over the last 12 months for sure, definitely more gutters than strikes.  Some of them that I think they did pretty good on within the last 2-3 years: Ameredev, Silverback, Forge and Felix. 

I work with another one that had their assets under LOI that totally fell apart a few months ago.  I think the buyer lost quite a bit of cash that had already gone hard.  

The username, the avatar and the gutters & strikes reference didn't go unnoticed. bravo

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pepper brooks

pepper brooks 580

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On 5/19/2020 at 9:17 AM, Dr. Beeper said:

Why are we at $33 right now?  Will it continue to rebound?  Should I execute a swap now?

My view is it depends on where the reset button on price is that gets some of the shut in shale back in the game, and to what extent that production can come back on line quickly.  I’d be a bit hesitant on swaps as I’m not sure where the above scenario gets triggered and crashes things back down. Might later in a few floors for some cash flow protection. Im just not sure on where supply goes and how soon demand ramps back. 

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pepper brooks

pepper brooks 580

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20 hours ago, Dr. Beeper said:

You just said a bunch of words to say “I don’t have a fucking clue.”  Which is basically where I am. But I believe I have the ability to do this without hedging and would rather go unhedged now, or buy really cheap puts. 

I was “hedging” my answer 🧐

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Storm the Field

Storm the Field 5302

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Another 17 rigs dropped this week, breaking even further into record low territory. Down to 301 total. 103 below the previous low set in late May 2016. 

11th straight weekly decline for a cumulative 492 rigs laid down since the first Friday of March 2020.

I'll throw out a wild guess that the first two reports in June will show another ~25 down before hitting a bottom at ~275. The next few weeks after that will show only minor fluctuations <7 up or down. 

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sidis

sidis 9832

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15 minutes ago, Armybrat said:

Was shocked to actually receive a royalty check (About 10% of the usual amount) from Continental Resources. 
Maybe enough to cover our anniversary dinner on the 10th.

I thought they had shut in those wells (North Dakota Bakken)

May checks = March production/sales.

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