January 24, 20232 yr 1 hour ago, Porterhouse said: The icebreaker, huh? What was imma doing there? We started a software company that competed with DrillingInfo, IHS, etc. Eventually it got acquired by P2 and rolled into Tobin.
January 25, 20232 yr On 1/23/2023 at 5:42 PM, Storm the Field said: Bout to be that time of year again. Less than 10 days until NAPE is once again upon us. Last year was the most fun in years after half a decade in the doldrums. Bakken party on Wednesday night last year was a downright rager. Looks like this year should be just about the same. Almost everyone I've seen is basically hosting the exact same events they did last year. Good times. I should go ahead and take the following Friday off.
January 26, 20232 yr https://www.cnbc.com/2023/01/25/chevron-announces-75-billion-stock-buyback-dividend-boost.html Holy fucking shit! 75 BILLION in buybacks?
January 26, 20232 yr 15 minutes ago, Captainant said: https://www.cnbc.com/2023/01/25/chevron-announces-75-billion-stock-buyback-dividend-boost.html Holy fucking shit! 75 BILLION in buybacks? EPS out front shoulda told ya.
January 27, 20232 yr I don’t know about y’all but I think nat gas is giving gold a run for its money as most volatile commodity
January 27, 20232 yr Just now, jeevsie said: Do you have any graphs to back up that position? Lol. Are you serious? PM Lobo/The Cruiser whatever his new user name is.
January 27, 20232 yr 12 hours ago, Porterhouse said: Lol. Are you serious? PM Lobo/The Cruiser whatever his new user name is. Publicly traded commodities are volatile. News at 11. Only thing more reliable than that is you mentioning how you never mention me on a weekly basis. That said, I do appreciate your energy markets insight. Have a good day sir.
January 27, 20232 yr 23 hours ago, Captainant said: https://www.cnbc.com/2023/01/25/chevron-announces-75-billion-stock-buyback-dividend-boost.html Holy fucking shit! 75 BILLION in buybacks? Best year ever in the history of the company, with $36B in profits, but they had a "disappointing' Q4 so the stock is down 3.5% today.
January 27, 20232 yr Rig Count has basically been etched in stone for close to 6 months now. Goes up or down a handful each week but always reverts back to ~770. 7/29/22: 767 10/21/22: 771 1/27/23: 771
January 27, 20232 yr 4 hours ago, Storm the Field said: Best year ever in the history of the company, with $36B in profits, but they had a "disappointing' Q4 so the stock is down 3.5% today. Stock was very overbought going into earnings so it’s a classic buy the rumor sell the news thing. They could have announced they found a way to fuel cars via top soil and it would have sold off today. Same thing happened with SLB after their earnings. Both stocks are going back up sooner rather than later.
January 27, 20232 yr 6 hours ago, Storm the Field said: Best year ever in the history of the company, with $36B in profits, but they had a "disappointing' Q4 so the stock is down 3.5% today. daily volatility is pretty meaningless for anyone who dont day trade. tech has been going turbomode for this week so i wouldnt be surprised if a lot part of this was parties reaping the long-building performance from energy sector and rotating into tech.
January 28, 20232 yr Tangential story to oil due to hot topic of carbon-reduction: the dirty business of carbon market. Worlds ‘leading’ climate consultants and largest carbon trader misrepresented actual carbon reduction. It sold millions in offset credit without doing anything to reduce carbon. It renders the score that companies (including oil) track quite meaningless https://www.ftm.eu/artikelen/south-pole-kariba-carbon-emission/kort?share=2i2zDjQkZddOBfNR//Uyy6fYGsXf9Iol8kwu/umhV0DhzqHwRsPBOt/ztYJMQxQ%3D#shortlong_switch
January 30, 20232 yr I'm very interested to see Exxon's year end earnings this week. Will it be in the same stratosphere of Chevron and what does it portend for midstreams and downstreams as they plan next years capital expenditure, etc.
January 31, 20232 yr 21 hours ago, HamsterHookah said: I'm very interested to see Exxon's year end earnings this week. Will it be in the same stratosphere of Chevron and what does it portend for midstreams and downstreams as they plan next years capital expenditure, etc. i got a big start YTD and tempted to blow some of it gambling on natgas…
January 31, 20232 yr Anyone that was going to NAPE that is cancelling their trip because of the weather?
January 31, 20232 yr 1 hour ago, Porterhouse said: Anyone that was going to NAPE that is cancelling their trip because of the weather? Just talked to a buddy in Midland that told me he moved his flight up to this afternoon. Flights scheduled for tomorrow are getting canceled. Couple folks from our SA office are waiting until Thursday morning now to drive in.
February 1, 20232 yr On 1/31/2023 at 1:59 PM, 52-80 said: blow some of it gambling on natgas… Got a great scalp on it yesterday. Gave it all back today 😩
February 1, 20232 yr Smoke Porterhouse staying at Bushwood for NAPE. And I could’ve gotten there and woken up with hangovers the next two mornings. Nah, I’ve got wax buildup to buff out with a fine chamois.
February 1, 20232 yr On 1/30/2023 at 9:21 AM, HamsterHookah said: I'm very interested to see Exxon's year end earnings this week. Will it be in the same stratosphere of Chevron and what does it portend for midstreams and downstreams as they plan next years capital expenditure, etc. Drinks on Exxon: In 2022, ExxonMobil posted the most profitable year of any Western oil company ever. Thanks to booming energy prices, Exxon made $56 billion in profit last year—equivalent to $6.3 million each hour, per Reuters. The mind-boggling earnings of Western oil giants, which are projected to have been ~$200 billion collectively last year, have also made them a political target for the Biden adminstration, which has blamed them for high gas prices. https://www.reuters.com/business/energy/exxon-smashes-western-oil-majors-earnings-record-with-59-billion-profit-2023-01-31/ Edited February 1, 20232 yr by HamsterHookah
February 1, 20232 yr 4 hours ago, 52-80 said: Got a great scalp on it yesterday. Gave it all back today 😩 $2.50. Back to late 2020/early 2021 price levels. Averaged $3.27 for the month of January 2023, down from $5.53 in December 2022 and $7.88 in September 2022.
February 1, 20232 yr 16 minutes ago, Storm the Field said: $2.50. Back to late 2020/early 2021 price levels. Averaged $3.27 for the month of January 2023, down from $5.53 in December 2022 and $7.88 in September 2022. Why don’t you kick me in the balls instead of recapping this?
February 3, 20232 yr O&G cannot catch a break this week. WTI was up $2 by 9:30, hit a wall and then floored it in reverse, now down $2. The beatdown on nat gas continues unabated. 10 cents every single day lately. China is re-opening faster than expected, US issues blowout jobs report this morning. Energy traders: "This is terrible news for commodities."
February 3, 20232 yr 3 hours ago, Storm the Field said: O&G cannot catch a break this week. WTI was up $2 by 9:30, hit a wall and then floored it in reverse, now down $2. The beatdown on nat gas continues unabated. 10 cents every single day lately. China is re-opening faster than expected, US issues blowout jobs report this morning. Energy traders: "This is terrible news for commodities." I don’t get it. But I ain’t hedging.
February 6, 20232 yr NAPE recap: I'll start at end. I woke up Friday morning in MY hotel room, alone and wasn't wearing my suit jacket or shoes, so I count that as a win. Limited it to Thursday AM - Friday AM from now on, this is the way. Although I did hear that Ryan Bingham was pretty good at HOB Wednesday night, I do wish I had caught that. Schedule as follows: Coffee meeting in Marriott Marquis Lobby (MM) Coffee meeting at Uncommon Grounds Lunch meeting back at MM HH #1 at Four Seasons bar (Little Midland) HH #2 at Morton's HH #3 back at Little Midland HH #4 at Biggio's HH #5 back at Little Midland Dinner at Papa's Bros (original location) Wake up at MM I don't have any receipts or other evidence that I went anywhere after dinner, but I also haven't spoken to anyone I was with at dinner since then so who knows.
February 7, 20232 yr 10 hours ago, BTW said: NAPE recap: I'll start at end. I woke up Friday morning in MY hotel room, alone and wasn't wearing my suit jacket or shoes, so I count that as a win. Limited it to Thursday AM - Friday AM from now on, this is the way. Although I did hear that Ryan Bingham was pretty good at HOB Wednesday night, I do wish I had caught that. Schedule as follows: Coffee meeting in Marriott Marquis Lobby (MM) Coffee meeting at Uncommon Grounds Lunch meeting back at MM HH #1 at Four Seasons bar (Little Midland) HH #2 at Morton's HH #3 back at Little Midland HH #4 at Biggio's HH #5 back at Little Midland Dinner at Papa's Bros (original location) Wake up at MM I don't have any receipts or other evidence that I went anywhere after dinner, but I also haven't spoken to anyone I was with at dinner since then so who knows. So glad I didn’t go. Yet, so sad. First time in 21 years.
February 8, 20232 yr On 2/3/2023 at 11:20 AM, Storm the Field said: O&G cannot catch a break this week. WTI was up $2 by 9:30, hit a wall and then floored it in reverse, now down $2. The beatdown on nat gas continues unabated. 10 cents every single day lately. China is re-opening faster than expected, US issues blowout jobs report this morning. Energy traders: "This is terrible news for commodities." Well of course oil is always all over the place for all sorts of reasons. Gas fundamentals are shit right now. March storage gonna end the season WAY above 5-year average... October storage projections looking crazy high as well, even with Freeport coming back online and if we end up with another record power burn this summer. Will be interesting to see if/when production falls off... seems like Haynesville could flatten out, but Permian I imagine will keep blowing and going as long as crude stays roughly where it is. Could be rough until 2025 when more LNG capacity comes online.
February 8, 20232 yr 1 hour ago, oSuJeff97 said: Well of course oil is always all over the place for all sorts of reasons. Gas fundamentals are shit right now. March storage gonna end the season WAY above 5-year average... October storage projections looking crazy high as well, even with Freeport coming back online and if we end up with another record power burn this summer. Will be interesting to see if/when production falls off... seems like Haynesville could flatten out, but Permian I imagine will keep blowing and going as long as crude stays roughly where it is. Could be rough until 2025 when more LNG capacity comes online. We are about to see massive declines in Haynesville and Marcellus. Massive, more impactful declines than the Barnett, with no Haynesville/Marcellus fields to backfill/offset those declines. That may take until 2025 to become apparent. When that happens in combination with LNG capacity increases, I’ll be so horny.
February 8, 20232 yr 45 minutes ago, Porterhouse said: When that happens in combination with LNG capacity increases, I’ll be so horny.
February 9, 20232 yr We are about to see massive declines in Haynesville and Marcellus. Massive, more impactful declines than the Barnett, with no Haynesville/Marcellus fields to backfill/offset those declines. That may take until 2025 to become apparent. When that happens in combination with LNG capacity increases, I’ll be so horny. Agree on Marcellus, at least not growing, not sure about Massive declines though. Why do you think we will see massive declines in Haynesville ? They are still making $$$ at the summer curve prices. Plenty of drilling & fracking has been going on there. The big private equity guys, seem to still be going full bore up there.
February 9, 20232 yr 40 minutes ago, Horns99 said: Agree on Marcellus, at least not growing, not sure about Massive declines though. Why do you think we will see massive declines in Haynesville ? They are still making $$$ at the summer curve prices. Plenty of drilling & fracking has been going on there. The big private equity guys, seem to still be going full bore up there. It’ll take awhile, maybe a few years, but it’ll become evident soon that we’ve drilled our best locations and the fields are in permanent decline.
February 9, 20232 yr On 2/3/2023 at 6:20 PM, Storm the Field said: The beatdown on nat gas continues unabated. 10 cents every single day lately. 10 cents on a single NG contract is $1,000 of cash value. Woof. Finally clawed back into the green shorting NG/QH…fun times
February 9, 20232 yr 15 hours ago, Porterhouse said: It’ll take awhile, maybe a few years, but it’ll become evident soon that we’ve drilled our best locations and the fields are in permanent decline. I see spikes in crude and gas this summer. I’m backing off my $90 by February 2023 take. Because that was a stupid fucking call.
February 10, 20232 yr 12 hours ago, 52-80 said: 10 cents on a single NG contract is $1,000 of cash value. Woof. Finally clawed back into the green shorting NG/QH…fun times No one believes your bullshit.
February 10, 20232 yr 6 hours ago, Fudge Nuggets said: No one believes your bullshit. Dont speak for everyone. They dont obsess over me as much as you do.
February 10, 20232 yr Russia announces it will cut 500K barrels of production a day as retaliation for price caps. Me:
February 10, 20232 yr 1 hour ago, Storm the Field said: Russia announces it will cut 500K barrels of production a day as retaliation for price caps. Me: I don’t understand; why?
February 10, 20232 yr I guess they think higher prices will hurt EU and US economies. Also entirely possible, if not likely, that it's a smokescreen and they don't have enough buyers or can't produce their stated quotas and would be cutting regardless, and trying to frame this as a punitive measure.
February 10, 20232 yr 3 hours ago, Storm the Field said: Russia announces it will cut 500K barrels of production a day as retaliation for price caps. Me: My comrade. Anyone tries and caps my cash flow, I’ll fully and unabashedly support this murdering thug.
February 10, 20232 yr 52 minutes ago, Storm the Field said: I guess they think higher prices will hurt EU and US economies. Also entirely possible, if not likely, that it's a smokescreen and they don't have enough buyers or can't produce their stated quotas and would be cutting regardless, and trying to frame this as a punitive measure. They have a retaliatory attitude and don’t give a fuck. I appreciate that about them. I doubt they’re concerned about EU or us. They’re primarily concerned with getting the highest price possible for their benefit, and so am I.
February 12, 20232 yr On 2/10/2023 at 11:44 AM, Porterhouse said: My comrade. Anyone tries and caps my cash flow, I’ll fully and unabashedly support this murdering thug. Of course you would. Nothing would be more on brand.
February 14, 20232 yr On 2/10/2023 at 11:44 AM, Porterhouse said: My comrade. Anyone tries and caps my cash flow, I’ll fully and unabashedly support this murdering thug. Well, it's always nice when a poster finally is honest about their preference for money over human rights and self-determination. Good on ya!
February 14, 20232 yr 16 minutes ago, Captainant said: Well, it's always nice when a poster finally is honest about their preference for money over human rights and self-determination. Good on ya! It was a joke, replete with his cartoonish Kremlin-media-taken shirtless photo. Go back to CR.
February 15, 20232 yr 7 minutes ago, Porterhouse said: API and EIA with robust builds. Yeesh. That's one way to put it. EIA reported a crude build of nearly 16.3M barrels for the week. 4th largest of all time. Apparently there was a very large adjustment factor built into the numbers this week so not a huge reaction thus far. WTI only down less than 2%. Interestingly, the 3rd largest build came only a month ago (+18.2M) and WTI actually gained 3.3% that day.
February 15, 20232 yr 5 minutes ago, Storm the Field said: That's one way to put it. EIA reported a crude build of nearly 16.3M barrels for the week. 4th largest of all time. Apparently there was a very large adjustment factor built into the numbers this week so not a huge reaction thus far. WTI only down less than 2%. Interestingly, the 3rd largest build came only a month ago (+18.2M) and WTI actually gained 3.3% that day. The build has been partially offset by strong demand forecasts. I do believe we are about to have significant draws in the near term.
February 15, 20232 yr I'm told this has a lot to do with some refinery maintenance which should be wrapping up in the next month or so. Also, Exxon bringing another 250k/day of sweet capacity online will be nice for Texas producers.
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