Hey Oil Barons.......

[Schulz2.0 29012]

2 hours ago, tx 3 putt said:

 

all rotating equipment. everyone is running their equipment ragged 

Doesn't everyone run them to failure or is that just my place?

[FartingMonk 3608]

Nah.  It's run to failure every where

[UT_OB1 2225]

So some of these refineries that shut down, are they going on to full catalyst change out turn around since they are already down?

Edited February 22, 2021 by UT_OB1

[BTW 370]

Anyone have intel they can share on Throne Petroleum?

I'm looking at some of their stuff and might make an unsolicited run at it, but background info would be good.

Eg: Who's their financial backer, does anyone have personal experience with them (good guys? shit heads?), anyone know about the quality of their operations?

TIA

[The Royal We 3072]

15 minutes ago, BTW said:

Anyone have intel they can share on Throne Petroleum?

I'm looking at some of their stuff and might make an unsolicited run at it, but background info would be good.

Eg: Who's their financial backer, does anyone have personal experience with them (good guys? shit heads?), anyone know about the quality of their operations?

TIA

I had a meeting with their CFO at the end of 2019, he's good friends with a client of mine who introduced us.  Very nice guy, laid back and seemed like a good dude.  I think they are backed (in part?) by Juniper Capital.  I never ended up doing any business with them. 

/CSB

[billfromlaketravis 11531]

I’ll receive a small bonus this year and there’s talk of a small raise. I worked through the crash in 2014, and the 2020 disaster. I feel very fortunate. 

Edited February 24, 2021 by billfromlaketravis

[Goofyboy 3297]

I’ll receive a small bonus this year and there’s talk of a small raise. I worked through the crash in 2014, and the 2020 disaster. I feel very fortunate. 

Same. I was shocked I got anything. No raise though and I’m ok with that. I’m just happy to have my job still.

[Okie State 3848]

No raise for us, but a pretty decent bonus all things considered. Can't complain.

[Storm the Field 5302]

Even on a day where financial markets are selling off bigly, WTI manages to notch a modest $0.25 gain.

(Ducks, waiting for incoming from Dr. Beeper).

 

[Cajun 11750]

Yeah, it's not 100%, but that's is definitely a positive sign in my experience.

[Storm the Field 5302]

Fridays seem to be risk-off days lately. Oh well. Let's keep pushing things in the right direction in March.

[jeevsie 3740]

Double hit - Friday and end of the month.

[FartingMonk 3608]

On 2/24/2021 at 5:10 PM, billfromlaketravis said:

I’ll receive a small bonus this year and there’s talk of a small raise. I worked through the crash in 2014, and the 2020 disaster. I feel very fortunate. 

Got my pay raise.  They even back paid it 2 months.  Our bonus was announced and it was surprisingly good.  3 percent cost of living raise is coming in April

 

[bluto 4943]

Any read or expectation on the opec mtg this week? Crystal balls and all that.

[tx 3 putt 77517]

NSIAP

https://www.texasmonthly.com/news/how-the-most-hyped-u-s-oil-merger-in-a-decade-went-bust

[Storm the Field 5302]

11 hours ago, bluto said:

Any read or expectation on the opec mtg this week? Crystal balls and all that.

"Expert" consensus is that they'll start tapering off production cuts, likely bringing back 500K barrels per month over the next few months. Big issue is that KSA wants to be meticulous while others, including Russia, likely want to bring back production faster than the Saudis are comfortable with. 

[Storm the Field 5302]

Apologies for CR, but I appreciate that we probably won't see POTUS tweeting "OPEC needs to open up the taps. Gas prices too high for our great American patriots!"

[billfromlaketravis 11531]

8 hours ago, tx 3 putt said:

NSIAP

https://www.texasmonthly.com/news/how-the-most-hyped-u-s-oil-merger-in-a-decade-went-bust

It's a long read, but worth your time. It's a good piece of journalism that I thought it was fair to each side. 

Edited March 1, 2021 by billfromlaketravis

[Fudge Nuggets 19227]

On 2/24/2021 at 5:10 PM, billfromlaketravis said:

I’ll receive a small bonus this year and there’s talk of a small raise. I worked through the crash in 2014, and the 2020 disaster. I feel very fortunate. 

Same here.  Bonus was better than I expected because I expected a big fat zero and would not have complained.  Raise worked out to 2%; I'm going to try not to blow it all in one trip to HEB.

[Fudge Nuggets 19227]

10 hours ago, tx 3 putt said:

NSIAP

https://www.texasmonthly.com/news/how-the-most-hyped-u-s-oil-merger-in-a-decade-went-bust

That's a repeat isn't it?  I remember reading the same article a few months ago.

[Fudge Nuggets 19227]

I saw the date and was perplexed because after reading the first five or six paragraphs I was sure I read the article before.  Maybe it was a sneak preview or something I read earlier. 

Buying Anadarko was a good move.  The price she paid and the deal with Uncle Warren paying pay day loan lender rates was a dereliction of duty.  She should have been shit canned just for that.  The reason they haven’t solidified their position with smaller acquisitions is because they have no money.  They were selling off the coffee makers in the break rooms to make payroll this time a year ago.

[Archer 474]

1 hour ago, Fudge Nuggets said:

I saw the date and was perplexed because after reading the first five or six paragraphs I was sure I read the article before.  Maybe it was a sneak preview or something I read earlier. 

Buying Anadarko was a good move.  The price she paid and the deal with Uncle Warren paying pay day loan lender rates was a dereliction of duty.  She should have been shit canned just for that.  The reason they haven’t solidified their position with smaller acquisitions is because they have no money.  They were selling off the coffee makers in the break rooms to make payroll this time a year ago.

I sent it to a buddy on 1/21/21 so it’s been out a few weeks at least. 

[Fudge Nuggets 19227]

28 minutes ago, Dr. Beeper said:

They had money, with Buffet help, for a $38B deal but couldn’t manage a few $1B-$5B deals?  

Not after the $38B deal.

[jeevsie 3740]

But would they have gotten the influx of cash for deals if they were little ones?  You know, no splash in those?

I don't know - I talk outta my ass sometimes.

[GringoSalado 1652]

18 hours ago, Fudge Nuggets said:

I saw the date and was perplexed because after reading the first five or six paragraphs I was sure I read the article before.  Maybe it was a sneak preview or something I read earlier. 

 

Same here I was thinking it was posted upthread or elsewhere a few weeks ago or so (when I orig read it).

[Storm the Field 5302]

Oil traders obviously not liking the expectation that OPEC+ will be bringing some production back online starting next month. Ugly little losing streak the past 3 trading days. 

[Trey3216 15372]

Lol, y'all see the EIA report this morning?  

+21.5mm barrels v expected -928k

Gasoline -13.6mm vs -2.3mm expected.  

 

 

[Eastwood 4394]

Lol, y'all see the EIA report this morning?  
+21.5mm barrels v expected -928k
Gasoline -13.6mm vs -2.3mm expected.  
 
 

And oil is up almost 2.5%. Interesting times.

[tequila 319]

On 2/23/2021 at 3:04 PM, BTW said:

Anyone have intel they can share on Throne Petroleum?

I'm looking at some of their stuff and might make an unsolicited run at it, but background info would be good.

Eg: Who's their financial backer, does anyone have personal experience with them (good guys? shit heads?), anyone know about the quality of their operations?

TIA

Know them pretty well.  Seem to be good guys, haven't had any luck with their horizontal efforts.  Currently backed by Quantas (AUS airline) believe it or not.  DM me if you want more info.    

[Storm the Field 5302]

22 minutes ago, Eastwood said:

24 minutes ago, Trey3216 said:

Lol, y'all see the EIA report this morning?  
+21.5mm barrels v expected -928k
Gasoline -13.6mm vs -2.3mm expected.  
 
 

And oil is up almost 2.5%. Interesting times.

It's basically a meaningless report following freeze week, aside from the headline grabbing crude number, which is by far the largest I can ever recall seeing. 

Taken altogether it actually reflects a total commercial petroleum inventory drawdown of 2.8M (+21.6M crude vs. -25.4M gasoline/distillates/propylene).

[Trey3216 15372]

Just now, Storm the Field said:

It's basically a meaningless report following freeze week, aside from the headline grabbing crude number, which is by far the largest I can ever recall seeing. 

Taken altogether it actually reflects a total commercial petroleum inventory drawdown of 2.8M (+21.6M crude vs. -25.4M gasoline/distillates/propylene).

I know, it's just a comical number to look at.  

[T’Boo Ted Marshall 2740]

ETX Operator that I marketed for a few years back is looking to sell.  I have that Charlie Brown football scene playing in my head right now.  

[Johnny Chimpo 479]

No change in production by opec! Very interesting outcome. 

[Storm the Field 5302]

Yep, maintaining all current cuts through end of April, with the exception of Russia and Kazakhstan, which will only add 150K barrels/day.

Markets were prepping for 500K/day and for KSA to start easing off the additional cut of 1M/day that they tacked on the past few months.

[T’Boo Ted Marshall 2740]

16 hours ago, Dr. Beeper said:

What counties, % oil / gas, production, cash flow?

Various counties.  Rusk, Cherokee, Panola, Nacogdoches.  

~45/55 split

Bout tree fiddy

[jeevsie 3740]

[Storm the Field 5302]

[Storm the Field 5302]

October 2018 oil price but May 2016 rig count. 

[Cajun 11750]

Happy Tuesday from Frio Co you buncha AHoles ---

 

[Storm the Field 5302]

Another zany EIA report.

 

[Storm the Field 5302]

FWIW, this is the first week in probably a year that things are starting to feel somewhat back to normal.

Have had a couple of in-person client lunches and people are actually easing back into their offices and starting to talk with some optimism about upcoming projects rather than just cancelled rigs and the latest layoff reports. 

Edited March 11, 2021 by Storm the Field

[tx 3 putt 77517]

13 hours ago, Storm the Field said:

FWIW, this is the first week in probably a year that things are starting to feel somewhat back to normal.

Have had a couple of in-person client lunches and people are actually easing back into their offices and starting to talk with some optimism about upcoming projects rather than just cancelled rigs and the latest layoff reports. 

 

people are ready to get back to normal on the chem plant / refinery side. i start my new job 3/29 and can't wait 

[victory88 5669]

Now a good time to load up on XOM?  With their cost cutting, they should increase their profits as the country is slowly opening up? 

[The Royal We 3072]

I bought some back at the end of January under $46 and wish I would have bought more.

They stayed committed to the dividend through the whole downturn and I don't think they will cut it now that things have turned positive.  The possibility of the dividend being cut was the main thing that kept me from making a bigger investment. 

Bottom line, yes, I think we are in the early innings of a bull run for commodities and XOM is still a good buy today at ~$62.

@victory88

[tx 3 putt 77517]

It was a great buy at $46. They’re still cost cutting 

[T’Boo Ted Marshall 2740]

I bought some back at the end of January under $46 and wish I would have bought more.
They stayed committed to the dividend through the whole downturn and I don't think they will cut it now that things have turned positive.  The possibility of the dividend being cut was the main thing that kept me from making a bigger investment. 
Bottom line, yes, I think we are in the early innings of a bull run for commodities and XOM is still a good buy today at ~$62.
[mention=789]victory88[/mention]

Yes sir. I got in at $45.

[Fudge Nuggets 19227]

I’m still holding mine from the mid 30’s last year.  The nearly 12% dividend is a nice bonus.

[Johnny Chimpo 479]

10 hours ago, Fudge Nuggets said:

I’m still holding mine from the mid 30’s last year.  The nearly 12% dividend is a nice bonus.

I snagged some then myself... 

[Fudge Nuggets 19227]

10 minutes ago, Johnny Chimpo said:

I snagged some then myself... 

I keep thinking I'll sell it when / if it gets back to the 70's, then I consider what other investment do I believe will provide an almost guaranteed 12% return per year.  So I hold.

[The Royal We 3072]

@Fudge Nuggets It's down below 6% at the current share price, isn't it?

I've been waiting for it to pull back some so I can add to my position.  I'm kicking myself for not buying more energy stocks earlier this year.  XOM and VDE are the only two that I bought - I was too busy chasing pennies like TSNP and XMET...