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#3751
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?

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#3753

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 by UT_OB1

#3754

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

#3755
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

#3756

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 by billfromlaketravis

#3757
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.
#3763
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

 

#3766
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. 

#3767

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!"

#3769
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.

#3771

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.

#3772
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. 

#3773
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.

#3774

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.

#3775
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).

#3776

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. 

#3777

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

+21.5mm barrels v expected -928k

Gasoline -13.6mm vs -2.3mm expected.  

 

 

#3778
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.
#3779
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.    

#3780
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).

#3781
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.  

#3784

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.

#3791

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 by Storm the Field

#3792
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 

#3793

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? 

#3794

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

#3796
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.
#3798
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... 

#3799
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.

#3800

@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...

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