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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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Catpfish

Catpfish 618

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Quick question for those in the know...we got a call from our producer that they are going to be fracking 5 wells in our area and they want to buy water from us.  They are asking us to take a 20% cut in the contract price, which we aren't going to do.  I think we could live with a 10% haircut if it would keep them coming back for more water.  Does anyone know the going price per barrel in the Eagle Ford and does anyone think working with the producer will keep them coming back to buy more water over the long run?

 

 

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Catpfish

Catpfish 618

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What county? Who is the operator? Whats the contract price?
La Salle County. Contact price is $0.50/barrel. Lease was done probably 8 or so years ago, so I suppose that price could be low. Operator is EP so they are in bankruptcy.

They are also going to be buying from two other wells on adjoining property but said they'll pay everyone the same price.
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sidis

sidis 9825

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Posted
5 hours ago, 3adays said:

Houston is all I’m aware of

Connecticut. 

5 hours ago, Johnny Chimpo said:

What’s left Asset wise haha. GOM? Eagleford? Permian? 

Marcellus, Utica, Bakken. 

4 hours ago, billfromlaketravis said:

Are they moving the Austin employees to Houston? 

Austin was just marketing group like Connecticut. Easily folded into Houston. 

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bolverk

bolverk 29658

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11 hours ago, billfromlaketravis said:

Are they moving the Austin employees to Houston? 

Saw a story a couple of weeks ago about the Austin office market in general, and they talked about Equinor specifically closing down their offices here to relocate staff to Houston. Here's the part about them:

Quote

 

For some companies, the pandemic has forced tough decisions.

Equinor -- which has offices in more than 30 countries and has 21,000 employees -- has been hit hard during the outbreak.

Equinor and its predecessor companies, Statoil and Brigham Oil & Gas, have leased space in Bridgepoint Square II in Austin since the late 1990s, and at one point had 250 employees working out of its Austin office.

Now, the company has reduced its workforce and its Austin employees will be relocated to Houston, said Brett Barrus, Equinor’s head of communications.

“We’ve had this space in Austin for years and our employees have really enjoyed being a part of this community,” Barrus said. “Unfortunately, the market challenges in the oil and gas industry, exacerbated by the pandemic, made consolidating our operations in Houston the best move for us in order to better support our workforce and improve collaboration, along with reducing our costs.”

The current lease expires Dec. 31, 2023. The space has not yet been priced, Barrus said.

Diana Holford, senior vice president in Austin with global real estate firm Jones Lang LaSalle, is tasked with marketing the space for Equinor at a time when demand for office space has dropped off precipitously.

“Most companies have their employee base working from home right now,” Holford said. “The good news is, Austin still has a vibrant business culture, and there is still demand. Austin continues to see interest from both coasts.”

 

https://www.statesman.com/business/20201120/office-uncertainty-outbreak-leaving-mark-on-austin-market

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Johnny Chimpo

Johnny Chimpo 478

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13 minutes ago, Larry T. Spider said:

What does this mean? I have zero industry knowledge.

No power means the refineries can’t run. When they get shut down without warning they have a lot of hydrocarbons being processed that suddenly can’t be processed anymore. That means they need to safely take those hydrocarbons and flare them off to depressurize the plant and make it safe. That means massive simultaneous flaring. 

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Grimas

Grimas 669

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On 12/3/2020 at 8:11 AM, bolverk said:

Saw a story a couple of weeks ago about the Austin office market in general, and they talked about Equinor specifically closing down their offices here to relocate staff to Houston. Here's the part about them:

https://www.statesman.com/business/20201120/office-uncertainty-outbreak-leaving-mark-on-austin-market

A lot of the employees that were in the Austin office went to Repsol who bought out their share of the EF and they moved to another office across town. 

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Trey3216

Trey3216 15345

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39 minutes ago, Dr. Beeper said:

Timing. That’s all that is. We are going to have lots of instances where we have big builds. Temporary noise. I’m still bullish on crude but it will be an up and down story for the next year.   Gains will be bigger than the drops. 

I hear ya, just an ugly data point with a lot of noise.  Was just an eye-popper. 

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Storm the Field

Storm the Field 5294

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7 minutes ago, jeevsie said:

47

First time hitting that mark since March 3 (282 days ago).

Things that hadn't happened yet last time we were above $47:

Russia/Saudi OPEC war begins 3/6

NOLA announces first case of COVID 3/9 

NBA pauses season 3/11

MLB cancels rest of Spring Training 3/12

First time since 9/11 that less than 1M travelers pass through US airports 3/17

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Archer

Archer 474

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Posted (edited)
22 hours ago, Heisenberg said:

One doesn't really have an oil business career unless they get laid off a few times.

https://www.thelayoff.com/noble-energy

 

 

I’ve been in 15 years I think I have been through 7 rounds of layoffs, 1 company sale, 1 office closure and 1 merger. 

This is across 3 companies. 

Edited by Archer
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Tex48

Tex48 840

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Do yall think anyone in oil and gas (Upstream, midstream, or downstream idc) is going to do any hiring for engineers this spring?  I'm graduating this Spring from Cheme and worked for a pretty well known E&P as an intern before covid cancelled my second internship.  I loved the work and don't want to give up on the industry yet.  

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Patricio Swayze

Patricio Swayze 17058

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Do yall think anyone in oil and gas (Upstream, midstream, or downstream idc) is going to do any hiring for engineers this spring?  I'm graduating this Spring from Cheme and worked for a pretty well known E&P as an intern before covid cancelled my second internship.  I loved the work and don't want to give up on the industry yet.  

I am sure you will find something before I will. In April it will be a year. This sucks. It makes it worse that most project management doesn’t understand how to really utilize project controls.

Good luck.
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Johnny Chimpo

Johnny Chimpo 478

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57 minutes ago, Tex48 said:

Do yall think anyone in oil and gas (Upstream, midstream, or downstream idc) is going to do any hiring for engineers this spring?  I'm graduating this Spring from Cheme and worked for a pretty well known E&P as an intern before covid cancelled my second internship.  I loved the work and don't want to give up on the industry yet.  

I’m about ten years in and I guess one thing I will say about this industry. It pays well but it’s bumpy as hell. You better be prepared for some instability. Always keep a good amount of cash on hand as an emergency fund. I do think the death of oil and gas is extremely overblown, but at the same time the growth prospects may not be what they used to be. Also you better be prepared to deal with a lot of bureaucracy and politics at the majors. 
 

That being said I do like my job and I’m getting paid more than I ever thought I would be, so there is that! I’m just stashing away as much as possible, hopefully I can retire early. 

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billfromlaketravis

billfromlaketravis 11448

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15 hours ago, Tex48 said:

Do yall think anyone in oil and gas (Upstream, midstream, or downstream idc) is going to do any hiring for engineers this spring?  I'm graduating this Spring from Cheme and worked for a pretty well known E&P as an intern before covid cancelled my second internship.  I loved the work and don't want to give up on the industry yet.  

I've been in upstream my entire career, but from a distance, midstream and downstream look more stable. 

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FartingMonk

FartingMonk 3606

Posted
Posted
On 1/3/2021 at 5:33 PM, Tex48 said:

Do yall think anyone in oil and gas (Upstream, midstream, or downstream idc) is going to do any hiring for engineers this spring?  I'm graduating this Spring from Cheme and worked for a pretty well known E&P as an intern before covid cancelled my second internship.  I loved the work and don't want to give up on the industry yet.  

Look at the chemical producers.  I work for the largest chemical company in the world.  Stock price is solid.  No layoffs.  And they have open their hiring up again since August.  

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