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Hey Oil Barons.......

936horn

By 936horn
in Business and Markets

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Hozz

Hozz 1017

Posted
Posted
1 hour ago, torre said:

https://www.cnet.com/news/the-roughneck-us-cowboys-who-drilled-britains-secret-wwii-oil-wells/

 

Above is a lengthy, but interesting article when the oil barons have time to read.

 

Wars aren't fought only on battlefields. Here's the little-known story of the gang of Americans who searched for black gold in the heart of besieged Britain.

That was a cool story.  I bet someone could make a good movie out of that.

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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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billfromlaketravis

billfromlaketravis 11447

Posted
Posted

My observations based solely on a domestic onshore perspective:

I believe Noble is largely a non-op in Delaware Basin, so Chevron saw a distressed asset and a way to increase their working interest/net acres/kick Noble out of their wells. Chevron really didn't have to do this, they own plenty of company fee acreage, but the deal was too good to walk away from. 

Noble's assets in DJ Basin are pretty good. 

Noble has finished rounds of deep layoffs, so Chevron gets the assets without many of the personnel headaches. 

It was a really smart buy, but that's what Chevron does. 

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Guest Lobo

Guest Lobo

Posted
Posted (edited)

Anybody tailgating for Trump in Odessa on Wednesday?  

IOGCC & PFA are making an important stand, glad to see it.  

Edited by Lobo
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Guest Lobo

Guest Lobo

Posted
Posted

Looks like Sec. Brouilette wants to make some overtures to independent operators and address their concerns over the dumping on Gulf refineries by Saudi Arabia.  At least it beings a dialogue.  

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Guest Lobo

Guest Lobo

Posted
Posted
On 7/27/2020 at 9:29 PM, Dr. Beeper said:

Non-entities for the oil industry.  Double Eagle will be hosting them. Go troll somewhere else, weirdo. 

His roundtable/reception in Odessa is being hosted by Double Eagle?  It appears to be being hosted by his Odessa bundlers that are independent operators, not Double Eagle.  But hey "i'm a weirdo."  Not a troll, it's an important day for the industry.  Rex and I see it that way at least, you should too.  

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Guest Lobo

Guest Lobo

Posted
Posted

I know they're an independent operator, I didn't say they weren't.  I was merely pointing out they're not hosting all the President's events in Midland-Odessa today.  You don't have to be rude about it.  I don't know that these are no-name guys, they bundled $5mm together.  Wasn't trolling, wanted to see if you were gonna be there.  Rex and I are.  

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Guest Lobo

Guest Lobo

Posted
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Where did I denigrate him on here?  I mentioned he and the sec. of Energy are visiting the PB, I think that qualifies as "Energy News."  I didn't make you defend him on here, at all....that was your choice.   I just mentioned his visit. 

But you make a valid point, the mods have enough political stuff to wade through, they don't these Oil Baron thread search results clogging up their day.  Besides, there'll be plenty of news and links 'n shit later today/tomorrow about their comments in the PB.  Have a great day and some rep.  

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sunset87

sunset87 240

Posted
Posted
15 minutes ago, tx 3 putt said:

I thought the US was already exporting oil to Mexico ?

I think what he signed was for approval for specific infrastructure.  Like pipeline right-of-ways, construction of railroad bridges across the border, etc... I assume it requires his approval because of crossing international borders, but not sure.

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Blotto

Blotto 23488

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Posted
Quote

Exxon Mobil Corp is preparing deep spending and job cuts, according to people familiar with the matter, as it fights to preserve a 8% shareholder dividend with a multi-billion-dollar quarterly loss looming.

It was unclear how extensive the cuts will be. The largest U.S. oil company slashed this year's budget by 30% in April, but Chief Executive Darren Woods's turnaround through rebounding demand and increased asset sales have not panned out and losses are climbing.

On Friday, Exxon is expected to report a $2.63 billion second-quarter loss, according to Refinitiv Eikon data, on sharply lower prices and weaker production, the first back-to-back quarterly losses in at least 36 years. Shares are down 35% so far this year as the coronavirus pandemic has crushed fuel demand.

The latest cost cuts are needed to preserve the company's nearly $15 billion annual payout to shareholders in the face of rising losses, the people said. Exxon will not generate enough cash from production operations to cover this year's dividend, analysts have said. It borrowed $18 billion earlier this year to bolster cash.

Cutting that fat 8%  dividend would hurt the stock price and the executive bonuses, so we cant be doing that. I guess Exxon can always hire back employees later  on if needed so fuck em. 

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tx 3 putt

tx 3 putt 76870

Posted
Posted (edited)
38 minutes ago, Blotto said:

I guess Exxon can always hire back employees later  on if needed so fuck em. 


they could cut 20% and rehire those positions over the rest of 2020 at much lower salaries and benefits. Much hungrier employees too 

Edited by tx 3 putt
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high side 3 way

high side 3 way 54

Posted
Posted
13 minutes ago, Moby Ric said:

NatGas spiking hard today.  Anyone know why?

No idea, all I could find:

https://www.fxempire.com/forecasts/article/natural-gas-price-forecast-natural-gas-markets-shoot-through-200-ema-664772

Spoiler

Natural Gas Price Forecast – Natural Gas Markets Shoot Through 200 EMA

The natural gas markets shot straight up in the air during the trading session on Monday to kick off the week, breaking through the 200 day EMA.

Christopher Lewis

2 hours ago (Aug 03, 2020 03:18 PM GMT)

Natural gas markets have shot through the roof during the trading session on Monday to kick off the week, slicing through the 200 day EMA. That being said, we are dealing with the $2.00 level, an area that of course will cause a certain amount of psychological resistance. Over the last several months, we have been building on this range, and I think we are trying to put in some type of bottom for the market longer term, due to the fact that we are seen bankruptcies out there, and that should bring down supply in theory. Furthermore, there has been a pretty significant amount of heat in the United States driving up demand.

Add in a tropical storm in the fact that the US dollar is losing value, then you have an opportunity for natural gas to reclaim some real estate to the upside. I think we probably have a pullback ahead of us, but I would be willing to buy that dip, especially somewhere near the $1.80 level if we can get down there.

If you have the ability to trade in small increments, then we could be looking at a potential trend change, at least for the second half of the year, which could provide a nice little opportunity. I do not have any interest in shorting this market because we are so low from a historical standpoint. When you zoom out several years, you can see that clearly the $1.50 level was a major turning point more than once.

For a look at all of today’s economic events, check out our economic calendar.

 

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Moby Ric

Moby Ric 2058

Posted
Posted
6 minutes ago, Dr. Beeper said:

Gas or oil?  Oil’s been steadily going up since April 20th but has met with resistance at $41 over the last 45 days. As of last Friday it had averaged $40.67 over the preceding 30 days with no high or low 3% away from the mean. That is a market waiting to see what happens with Covid demand and global supply.

I haven’t been focused on gas and would be surprised if it’s even somewhat related to weather but I defer to Trey a lot. 

Gas is what I am looking at.

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Neonmoon

Neonmoon 38129

Posted
Posted
17 minutes ago, Moby Ric said:

I'm just curious if this is going o be a trend for the foreseeable future.  I have not seen or heard anything about prices going up.

Most analysts selling info have been predicting prices going up since April. The prices haven’t actually gone up yet. Supposed to be over 2 now. We’ll see if the magic happens in a couple months 

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