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936horn

By 936horn
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Storm the Field

Storm the Field 5329

Posted
Posted
25 minutes ago, Ted Dantzler said:

Thanks for the input, definitely looks like we should be looking for more. My dad's going out there next week to talk to some neighbors etc to see if he can get any details of what is standard out there. For reference its 620 acres of pasture/cropland. 

Own the minerals on all 620?

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Rex Kramer

Rex Kramer 1513

Posted
Posted
2 hours ago, Ted Dantzler said:

Thanks for the input, definitely looks like we should be looking for more. My dad's going out there next week to talk to some neighbors etc to see if he can get any details of what is standard out there. For reference its 620 acres of pasture/cropland. 

Comparing your offer to @Armybrat’s Bakken stuff is not productive because he’s been in a historically hot area and you are not. @billfromlaketravis20% seems odd. Maybe that’s just an average. 25% must be the standard in Weld Co.

My thoughts are:

1) 1/8th sounds like a 1920s lease. 1/4 is the standard for active areas. But you’re area is the antithesis of a hotbed of activity.

2) Same comment with $20/acre. 

3) For $12,400, I’d tactfully tell them to eat a bag of dicks. 

4) whatever you do, try and get a short term lease, and negotiate a tough surface agreement. This won’t be life changing money either way, don’t let them fuck up your land. 

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Ted Dantzler

Ted Dantzler 157

Posted
Posted
Own the minerals on all 620?
Yes. We also have a windmill lease on our land, they ended up building the windmills a mile north and a mile south of our land so no actual windmills but they did bury a power line through our land next to the road. Since they didn't build any on our land they gave us an extra "good neighbor" bonus for having to look at them....I don't mind though. As far as I know the only condition is we can't build any structures over a certain height.

From looking at neighbors land some of them have windmills and oil wells on the same section so I don't think that would be an issue.

Token windmill sunset pic

73fb817c061704bc146cfefbfd8ded6e.jpg
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Armybrat

Armybrat 41195

Posted
Posted
19 hours ago, Rex Kramer said:

Comparing your offer to @Armybrat’s Bakken stuff is not productive because he’s been in a historically hot area and you are not. @billfromlaketravis20% seems odd. Maybe that’s just an average. 25% must be the standard in Weld Co.

My thoughts are:

1) 1/8th sounds like a 1920s lease. 1/4 is the standard for active areas. But you’re area is the antithesis of a hotbed of activity.

2) Same comment with $20/acre. 

3) For $12,400, I’d tactfully tell them to eat a bag of dicks. 

4) whatever you do, try and get a short term lease, and negotiate a tough surface agreement. This won’t be life changing money either way, don’t let them fuck up your land. 

That’s why I qualified my reply with this…

Quote

But that’s on the higher end in the Bakken’s better play areas.
 

 

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Storm the Field

Storm the Field 5329

Posted
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On 10/31/2024 at 2:00 PM, Rex Kramer said:

Just voted Craddick. Sorry to the dipshit duo of Dunlap and Stogner

Just saw that Stogner won the DA race for the combined office that encompasses Loving, Reeves, and Ward. Didn't even realize she was running for something this time around. Also didn't realize that those counties have shared personnel. 

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Rex Kramer

Rex Kramer 1513

Posted
Posted
2 hours ago, Storm the Field said:

Just saw that Stogner won the DA race for the combined office that encompasses Loving, Reeves, and Ward. Didn't even realize she was running for something this time around. Also didn't realize that those counties have shared personnel. 

She’s such a cunt. I find her repulsive in all aspects. Largely because of her, I happily voted Craddick and noted Hawk Dunlap got 2.5% of the vote. 

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Wilcox Cummingtonite

Wilcox Cummingtonite 3493

Posted
Posted (edited)

Hilcorp buys Exxon’s conventional Permian assets. 

https://www.reuters.com/markets/deals/exxon-sell-older-permian-assets-hilcorp-1-billion-deal-sources-say-2024-11-12/
 

Quote

NEW YORK, Nov 12 (Reuters) - Top U.S. oil producer Exxon Mobil Corp (XOM.N), has agreed to sell conventional oil drilling assets in the Permian Basin of Texas and New Mexico to privately-owned Hilcorp Energy for around $1 billion, four sources familiar with the matter told Reuters.

The deal follows a trend of U.S. oil and gas companies culling older properties following a record-breaking wave of acquisitions. Private operators like Hilcorp have been among the most active buyers of such assets.

Exxon confirmed the sale of the assets but declined to name the buyer or valuation, using terms that signify the properties were conventional vertical wells, not the horizontal wells used to pump shale.

"The sale is consistent with our strategy to focus investments on advantaged assets in our industry-leading portfolio," the Exxon spokesperson said, adding the deal is expected to close in the first quarter of 2025.

Reuters reported in June that Exxon was auctioning the assets to focus on higher growth shale drilling properties, following the completion of its $60 billion takeover of Pioneer Natural Resources in May.

Hilcorp, which specializes in buying mature oilfields, emerged as the winner of this auction, the sources said, requesting anonymity as the auction was confidential.

Hilcorp did not respond to requests for comment.

Like other companies which took advantage of sharply elevated commodity prices to pursue recent megamergers, Exxon has been reviewing its portfolio to focus on its most profitable assets while raising cash from selling so-called non-core assets to shore up its balance sheet.

The Exxon assets which Hilcorp is buying are estimated to have net production of about 26,000 barrels of oil equivalent per day, one of the sources said. The sale does not include assets acquired from Pioneer, they added.

Hilcorp, founded by billionaire Jeffery Hildebrand, has been among the most active buyers of assets being divested by public rivals. The company this month finalized a $1 billion takeover of Italian group Eni's offshore Alaska assets.

It was also the undisclosed buyer in APA Corp's $950 million sale of conventional Permian properties agreed in September, sources told Reuters.

APA Corp did not immediately respond to requests for comment.

 

Edited by Wilcox Cummingtonite
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billfromlaketravis

billfromlaketravis 11739

Posted
Posted
4 minutes ago, tx 3 putt said:

 

i had a PIP twice 

quit after I earned a rather large bonus check, while on PIP #2

Haha good for you buddy. I haven’t heard of anybody coming back from it in land.

My company is a little different. I know a couple fellas that received a 1 and a 0 on their performance review are pushing 10 years of service. 

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billfromlaketravis

billfromlaketravis 11739

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The guy that got a 0 year was told he was moving into a new group, but they forgot to give him any work to do for the better part of a year. Some real Seinfeld Penske File type shit. His old manager conducted his performance review and buried him. He didn’t take a bonus for 3 years. 
 

The guy that got a 1 is pretty good is pretty well known for watching Netflix all day. 
 

When landmen bitch about making less than engineers I look at them like they’re insane because they are. Some of us have no idea how good we have it. We only have to go the field if we want to wear a hard hat and take pictures. When I describe what I do to people in other industries, they are mouth agape shocked. Most of the stereotypes are true. 

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Hook1997

Hook1997 5464

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Posted

Was just notified by my broker our client is not selling…  I didn’t even know that was possibly happening since I was just finishing up work on them buying a bunch of producing Units.  Depending on the broker to a point I guess, the days of a landman drinking beer and playing golf half the day are long gone.  Most of those guys are not in the business anymore unless they have deep connections.  A lot more work getting done with way less landmen compared to ten years ago. 

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billfromlaketravis

billfromlaketravis 11739

Posted
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4 hours ago, Hook1997 said:

Was just notified by my broker our client is not selling…  I didn’t even know that was possibly happening since I was just finishing up work on them buying a bunch of producing Units.  Depending on the broker to a point I guess, the days of a landman drinking beer and playing golf half the day are long gone.  Most of those guys are not in the business anymore unless they have deep connections.  A lot more work getting done with way less landmen compared to ten years ago. 

Also this. Everything going digital and Quorum have helped immensely. Disappearing after lunch everyday isn’t a thing anymore, but some of the best golfers I know are landmen. 
 

I miss the old guys. It’s very buttoned down now. A lot of people don’t even leave for lunch. They knock out 7 to 4 and go home. Unless you’re running several rigs, it’s a very laid back workday. 

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Rex Kramer

Rex Kramer 1513

Posted
Posted
15 hours ago, Horn Under a Bad Sign said:


As one who knows her personally, she's actually awesome. Super smart. 

Tell her Rex from the internet doesn’t want to know her personally. Tell her fat ass to keep clothes on, and to stop with the attention whoring posts on LinkedIn, Insta and wherever else that annoying wildebeest goes. 

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txduck87

txduck87 1004

Posted
Posted
I saw a couple screenshots of the emails. Basically, everybody finds out next week if they’re getting a package or staying on. Is there anything new to report? 

MRO folks find out next Wednesday or Thursday what their fate is. Severance or job with COP. Also who will be on transition team. All MRO employees told to wfh those two days.
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billfromlaketravis

billfromlaketravis 11739

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24 minutes ago, txduck87 said:


MRO folks find out next Wednesday or Thursday what their fate is. Severance or job with COP. Also who will be on transition team. All MRO employees told to wfh those two days.

It sounds like 9 months severance, and the equivalent of 2 annual bonuses in a lump sum seems to be the going rate. Not bad, not great, but if those folks can find another job quickly it’s a nice chunk of change.’

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txduck87

txduck87 1004

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It sounds like 9 months severance, and the equivalent of 2 annual bonuses in a lump sum seems to be the going rate. Not bad, not great, but if those folks can find another job quickly it’s a nice chunk of change.’

9 months minimum. Some getting 2 years plus depending on service time. 2 years bonus. All RSUs vest, medical for a year. It’s a nice package .
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