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936horn

By 936horn
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Fudge Nuggets

Fudge Nuggets 19206

Posted
Posted
1 hour ago, The Royal We said:

@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...

Dividend yield is locked in based on the price you paid for the stock - unless the dividend gets cut or raised.  Yield below 6% today is someone else's problem.

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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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Angry Gorilla

Angry Gorilla 1768

Posted
Posted (edited)

https://www.zerohedge.com/energy/wti-holds-big-losses-after-surprise-crude-build

 

Spoiler

WTI Holds Big Losses After Surprise Crude Build

Tyler Durden's Photo
BY TYLER DURDEN
TUESDAY, MAR 23, 2021 - 04:34 PM

Crude prices crashed today, extending recent losses with WTI back below $58 at six-week lows amid dimming prospects of a steady recovery in demand from Europe to India.

“The weakness in crude prices isn’t likely to go away in the coming weeks, even as U.S. refinery utilization recovers to pre-storm levels,” said Fernando Valle, a Bloomberg Intelligence analyst.

“There is still the resurgence of Covid-19 in Europe and Asia, and refinery maintenance in China and these are likely to keep international demand weak for U.S. crude.”

Tonight's API-reported inventory data will give us the next trend direction

 

API

  • Crude +2.927mm (-900k exp)

  • Cushing -2.282mm

  • Gasoline -3.728mm

  • Distillates +246k

After four straight weeks of builds, analysts expected crude stocks to draw this week, but once again (if API is right) we saw a crude build. Gasoline stocks drew down once again.

bfm8B04_0.jpg?itok=v1kJPW4e

Source: Bloomberg

WTI broke below a key technical level today and was hovering around $57.50 ahead of the API print and was unexcited by the data.

 

2021-03-23_13-31-56.jpg?itok=coNDwZfN

“The swing lower was triggered by the deteriorating near-term demand outlook in the face of still hampered refineries, surging interest and renewed European lockdowns,” Bart Melek, head of commodity strategy at TD Securities, said in a note.

“With prices breaking below the 50-day moving average during the session, technical traders may well take WTI lower still.”

Finally, we note that overseas buying isn’t expected to recover any time soon. China, the largest customer for U.S. oil, slowed its intake after purchasing heavily in recent months. Local producers are also competing with traders that have amassed large quantities in storage across the world and are looking to offload their supplies since it doesn’t pay now to store oil and sell in the future.

 

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WBT

WBT 20617

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On 3/17/2021 at 9:04 PM, Fudge Nuggets said:

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

Got in right at a year ago for $33 something.  There's stuff I wished I had got out of sooner due to the covidpanic but I timed that one pretty good.

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Storm the Field

Storm the Field 5295

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11 hours ago, Dr. Beeper said:

Maybe. The entire market is ever-rampant with speculation. Any downward pressure on prices is noise combined with profit taking. We are going higher. Fuck everybody 

Agree we're going higher over the course of the year, just saying nobody should have expected it'd be a completely smooth ride (not saying you did). 

Saw a chart pointing out that this may be a redux of a similar period in 2018, in that we may bounce up and down within a $10 range for a while before breaking out to the upside. 

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Archer

Archer 474

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Too many unknowns to answer. 
 

Most people I know who leave trade money for security.
 

Are you just taking a cut on your salary or are you walking away from thousands of shares of RSUs?  Taking a bit of a haircut maybe worth not having a layoff every 6 months. Leaving $150k in stock that could be worth $300k in a couple years maybe not. 
 

I don’t think we have the wild days of the mid 2000s coming back with salary wars and giant signing bonuses. There are still too many unemployed who want back in the game. 
 

If you are happy with the offer, tired of the ups and downs, and aren’t walking away from an unvested fortune it might not be a bad move. 

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nineliveslost

nineliveslost 2782

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6 hours ago, Archer said:

Too many unknowns to answer. 
 

Most people I know who leave trade money for security.
 

Are you just taking a cut on your salary or are you walking away from thousands of shares of RSUs?  Taking a bit of a haircut maybe worth not having a layoff every 6 months. Leaving $150k in stock that could be worth $300k in a couple years maybe not. 
 

I don’t think we have the wild days of the mid 2000s coming back with salary wars and giant signing bonuses. There are still too many unemployed who want back in the game. 
 

If you are happy with the offer, tired of the ups and downs, and aren’t walking away from an unvested fortune it might not be a bad move. 

I just wanted to give you a shout out for this post beyond the usual rep. I know the usual Surly response , but its cool when someone just give some clear perspective and guidance without all the assholeery 

 

 

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MoJames

MoJames 8244

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4 minutes ago, nineliveslost said:

I just wanted to give you a shout out for this post beyond the usual rep. I know the usual Surly response , but its cool when someone just give some clear perspective and guidance without all the assholeery 

assholery, you idiot.

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billfromlaketravis

billfromlaketravis 11517

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7 hours ago, Archer said:

Too many unknowns to answer. 
 

Most people I know who leave trade money for security.
 

Are you just taking a cut on your salary or are you walking away from thousands of shares of RSUs?  Taking a bit of a haircut maybe worth not having a layoff every 6 months. Leaving $150k in stock that could be worth $300k in a couple years maybe not. 
 

I don’t think we have the wild days of the mid 2000s coming back with salary wars and giant signing bonuses. There are still too many unemployed who want back in the game. 
 

If you are happy with the offer, tired of the ups and downs, and aren’t walking away from an unvested fortune it might not be a bad move. 

Great post.

I missed the salary wars by about 7-9 years, but I think some of the same lessons still apply. At a large oil and gas company, the best raise you’ll ever  get is when you’re hired. Increasing your base salary any way possible is so critical. Go work for a company you don’t like, get paid, go find a company you like in a couple years. The trouble is , no companies are hiring right now. 
 

Be selfish @HoustonFrog. Make the best deal for yourself. Companies always look out for their shareholders rather than their employees. It’s all on the table. 

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HoustonFrog

HoustonFrog 368

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I’m on finance side, so not leaving behind a ton of stock or anything like that. I’d be getting a pay increase.

Since I switched into O&G I’ve only known bad/OK times and the disaster of 2020. The days of early 2010s at $100 were before my time, but would prefer to not miss them if that’s where we are headed in six months

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DCA_HORN

DCA_HORN 725

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I’m on finance side, so not leaving behind a ton of stock or anything like that. I’d be getting a pay increase.

Since I switched into O&G I’ve only known bad/OK times and the disaster of 2020. The days of early 2010s at $100 were before my time, but would prefer to not miss them if that’s where we are headed in six months
Do you enjoy the industry? If you're on the finance side the actual work will be similar but with a different widget. If the money is even close, go with what makes you happy.
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Archer

Archer 474

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On 3/30/2021 at 1:15 PM, HoustonFrog said:

I’m on finance side, so not leaving behind a ton of stock or anything like that. I’d be getting a pay increase.

Since I switched into O&G I’ve only known bad/OK times and the disaster of 2020. The days of early 2010s at $100 were before my time, but would prefer to not miss them if that’s where we are headed in six months

If I could get a comparable salary in a more stable industry with a similar quality of life I’d look really hard at making a move, and I love oil and gas. 
 

It’s been a beat down since 2016 I keep telling myself that the survivors at the end of this should be sitting pretty for a while but who really knows. 
 

I make a good salary but I have to live like I make half of it because I never know when I’ll be unemployed and outside of the oil industry don’t have much hope of replacing it. If I had some faith in the stability I could make some of the purchases I’d like but put off due to income concerns. 

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Eastwood

Eastwood 4394

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Market doesn't know what it likes. EIA report could show a 35 million barrel draw, Hurricane Katrina 2 could steamroll up the Texas coast and hook to the NE to slam every offshore asset East of the Mississippi, and the price would drop 5% because the secretary of the Exxon CEO made a joke that Exxon is going to start investing in fusion power plants.

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Tex48

Tex48 840

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Hey guys wanted to say thanks for the encouragement and career advice a couple months back.  I ended up finding a job on a commodity trading desk after I graduate in May!  I am excited as hell.  

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Horns99

Horns99 155

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What the hell is going on in Natty lately?   Range of $2-$3 for several days with what seems to be massive simultaneous trades at $2 and $3.  That shit ain't healthy  

Where in the hell are you seeing $2 trades? Everything in the forward curve is basically 2.50-3.00. Remaining summer avg is 2.66 & winter is 2.92


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Trey3216

Trey3216 15347

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16 minutes ago, Horns99 said:

Yeah, I assure you there hasn’t been any $2 trades, stare at the damn screen all day long....


Sent from my iPhone using Tapatalk

Chill, Winston   Just saw something that looked crazy and out of whack.  Knew it didn’t smell right 

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Armybrat

Armybrat 40851

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6 minutes ago, Lobo said:

Weren't you at the original division order meeting when North Dakota and South Dakota split?  ;) 

Fucking variants this week so far though...

No, but my great uncle nearly was. This is the dugout house he built just prior to WW1 in North Dakota. His 240 acre farm - our family mineral lease now - is presently located underneath Lake Sakakawea. 

 

 

51F91C40-CBA7-48B2-B625-FC1253A2B69C.jpeg

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Guest Lobo

Guest Lobo

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I love your land stories, man.  But for some inexplicable reason, and again I'm not well versed on 1910's Dakota history, is your great uncle wearing blackface?  

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Armybrat

Armybrat 40851

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Continental Resources started drilling from the other side of the lake several years ago to tap part of our lease. There are now 22 wells pumping at this site in Montrail Bounty. Unfortunately only 2 wells are permitted from the McKenzie County side, as the new administration probably won’t grant any more because they own a whopping 30 acres in the underwater 1,260 acre spacing. fml

 

 

C4DCA51E-582E-4AFB-84EC-2D4F071AD114.jpeg

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Armybrat

Armybrat 40851

Posted
Posted
4 minutes ago, Lobo said:

I love your land stories, man.  But for some inexplicable reason, and again I'm not well versed on 1910's Dakota history, is your great uncle wearing blackface?  

No, just sunburned after working that land with mules for about 40 years until the feds eminent domained him out to make way for the huge lake in the early 1950s.

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