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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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GringoSalado

GringoSalado 1,652

Posted
Posted (edited)
1 hour ago, Dbeasy said:

Drove thru Permian basin yesterday. Noticed a lot of oil sites were burning off gas. Can one of you oil gurus explain why there’s no way to utilize that wasted energy somehow. Is it a lot of energy wasted?

As not actually ^ points out the flaring happens when there is no infrastructure (pipeline, paging Steel Shank) to transport the gas to market. Sometimes there is no trunk line in the area yet, and sometimes it is full (if the pressure in the existing line is too high wells cannot force any more gas in to it. If the operator shuts the gas in and doesn't allow it to vent/flare the well's oil production will suffer or cease).

The RR commission regulates flaring (operators need a permit to flare gas off and have to meter and report the amount) and for the most part has now banned permanent or long term gas flaring. They do grant exceptions if for whatever reason the gas cannot be brought to market.

According to the RR Comm less than 1% of produced gas is flared off.

 

 

http://www.rrc.state.tx.us/media/29135/statewide-rule-32-venting-and-flaring.pdf

 

Edited by GringoSalado
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Posted
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3 hours ago, Storm the Field said:

Fart noise.

 

I am sure that OPEC considers the tweets of that buffoon and gasoline prices of Americans over the budgets of its countries and welfare of its citizens. 

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Posted
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41 minutes ago, Neonmoon said:

Oil at 70 was good for everyone. Not too high. Not too low. 

According to Snacks way too high. 

Trump’s just a man of the people. What a fucktard. 

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Trey3216

Trey3216 15,356

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  • Crude +5.8M barrels vs. -3.6M consensus, -12.6M last week.
  • Gasoline -3.2M barrels vs. -0.1M consensus, -0.7M last week.
  • Distillates -0.4M barrels vs. +0.9M consensus, +4.1M last week

 

Looks like we're in the bi-weekly build/massive draw seesaw here. 

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On 7/16/2018 at 5:59 PM, theCruiser said:

At this point then, $70 crude is really like Steven (Koren), the first Susan Ross Foundation Scholarship winner.  Right in that meaty part of the commodity curve.  Not showing off...not falling behind.  

wedding-crashers-wtf.gif

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GringoSalado

GringoSalado 1,652

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On 7/16/2018 at 1:58 PM, Nice Guy Eddie said:

I get that most people outside of the oil industry doesn't like high gasoline prices.  But is there some bad economic signal or public uprising about gasoline prices that I've missed?   I didn't think it was an issue that anyone was really speaking about until Trump decided to act.  

Maybe the punditocracy are worried about the Federal Reserve and interest rates (as long as we're still a net importer)?

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Fudge Nuggets

Fudge Nuggets 19,224

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On 7/16/2018 at 3:36 PM, Storm the Field said:

WTI dropping 3% to open the day on speculation that Trump and Putin will reach an agreement for Russia to produce more oil.

Additionally, there was a story out Friday that the US is planning to tap the SPR. Maddeningly stupid political hackery.

I thought the “free markets” were supposed to solve all problems.

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Trey3216

Trey3216 15,356

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6 minutes ago, Storm the Field said:

Prediction holding up well so far.

I typically pay more attention to the monthly figures than the weekly, but traders still trade the data.  It's not necessarily manipulation, but it makes you wonder.  

 

This week:

Imports down 1.2mm bpd

Exports up 1.3mm bpd.

 

Not really any smoothing in the data on the weeklies.  The monthly figures show a more intriguing set of data, but they lag by almost 2 months.  

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Okie State

Okie State 3,848

Posted
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They do have a really nice campus. So they got that going for them, which is nice. 

Around ten years ago we lost a huge number of yonger people from the O&G company I worked for to CHK for that exact reason. It was a great recruiting tool for them. Too bad the company was shit.

 

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