October 6, 20232 yr Hell of a run for natty the past 2 weeks. Opened 2 Fridays ago at $2.63, currently $3.28. 24.5% gain. 16% just this week.
October 9, 20232 yr tempered response so far. crude and gas blipped up, but settled back lower. same response on equities future - big dip but mostly recovered.
October 9, 20232 yr Looks like XOM takeover of Pioneer is coming to fruition. From WSJ:Exxon Mobil [uS:XOM] is closing in on a deal to buy Pioneer Natural Resources, [uS:PXD] a blockbuster takeover that could be worth roughly $60 billion.A deal could be sealed in the coming days, assuming the talks don’t hit a last-minute snag, people familiar with the matter said.After posting record profits in 2022, Exxon has been flush with cash and exploring options that would push it deeper into West Texas shale.An acquisition of Pioneer, with a market cap of around $50 billion, would likely be Exxon’s largest deal since its megamerger with Mobil in 1999. It would give Exxon a dominant position in the oil-rich Permian Basin of West Texas and New Mexico, a region the oil giant has said is integral to its growth plans.The Wall Street Journal reported in April that the two companies were holding preliminary talks.Exxon has a market value of $436 billion, so the deal, which would be the biggest takeover of the year, should be easily doable.https://abc13.com/amp/david-scott-exxonmobil-sexual-assault-charge-man-charged/13879250/
October 9, 20232 yr 42 minutes ago, Patricio Swayze said: https://abc13.com/amp/david-scott-exxonmobil-sexual-assault-charge-man-charged/13879250/ Relevant and insightful.
October 9, 20232 yr Relevant and insightful. Well, he is the vice president of the business unit that is part of the Exxon/Pioneer deal. I think that is interesting and relevant. I doubt that has any effect on the deal, but interesting nonetheless. https://www.reuters.com/world/us/head-exxons-shale-oil-business-faces-sexual-assault-charge-texas-2023-10-08/
October 9, 20232 yr 39 minutes ago, T’Boo Ted Marshall said: What's relevant is that a person in his position is at a La Quinta in Magnolia. Dont scoff at the free breakfast
October 9, 20232 yr 4 hours ago, T’Boo Ted Marshall said: What's relevant is that a person in his position is at a La Quinta in Magnolia. Assume he was banging a whore or two? And they blackmailed him or attempted to?
October 9, 20232 yr 1 hour ago, babysdaddy said: Assume he was banging a whore or two? And they blackmailed him or attempted to?
October 9, 20232 yr https://www.bloomberg.com/news/articles/2023-10-09/chevron-told-by-israel-to-shut-output-at-tamar-gas-platform-lnis1er3
October 9, 20232 yr 7 hours ago, Patricio Swayze said: https://abc13.com/amp/david-scott-exxonmobil-sexual-assault-charge-man-charged/13879250/
October 9, 20232 yr 8 hours ago, T’Boo Ted Marshall said: What's relevant is that a person in his position is at a La Quinta in Magnolia. he’s Australian, that explains a lot. Bro culture is strong over there, easy to see how he’s a vp guy has to be knocking down 1mil+. I’ll also assume Exxon doesn’t drug test their execs Edited October 9, 20232 yr by tx 3 putt
October 10, 20232 yr 4 hours ago, tx 3 putt said: he’s Australian, that explains a lot. Bro culture is strong over there, easy to see how he’s a vp guy has to be knocking down 1mil+. I’ll also assume Exxon doesn’t drug test their execs I think it’s pretty rare at every major. I think they’d only test if there’s a workplace accident.
October 10, 20232 yr I think it’s pretty rare at every major. I think they’d only test if there’s a workplace accident.It’s company by company. Most EPC companies test for initial screening and only after a workplace accident. However, I think many operators/owners do random tests. I worked for a bit as a contractor for Motiva and the direct employees told me they did random hair tests. That is expensive, so it makes sense that operators would do that and not so much the engineering firms.
October 10, 20232 yr I’m curious what he asked for / did to get one girl to tap out and go call the police. I really hope those women were Exxon employees or contractors.
October 10, 20232 yr I’m curious what he asked for / did to get one girl to tap out and go call the police. I really hope those women were Exxon employees or contractors. I’m sure this won’t be popular, but O&G is rife with toxic bro culture. This is my second career, but still have more than 15 years in it. While it seems to be improving, it is still very male oriented and many project directors and VP’s are piece of shit bros.
October 10, 20232 yr 17 hours ago, tx 3 putt said: I’m curious what he asked for / did to get one girl to tap out and go call the police. I really hope those women were Exxon employees or contractors. Maybe Pioneer employees/contractors to help close the deal?
October 10, 20232 yr Maybe Pioneer employees/contractors to help close the deal? [emoji4]That sounds more like conventional drilling rather than unconventional. He probably tried to install a plunger lift without her approval.
October 10, 20232 yr 6 minutes ago, Patricio Swayze said: That sounds more like conventional drilling rather than unconventional. He probably tried to install a plunger lift without her approval. Or went directly to the dry hole...
October 11, 20232 yr Quote Saudi Arabia and Russia, the world's top two oil exporters, on Wednesday discussed the situation on the oil market and prices amid the escalating conflict between Israel and Hamas, President Vladimir Putin's top oil official said. ... Russian Deputy Prime Minister Alexander Novak greeted Saudi Arabia's Minister for Energy Prince Abdulaziz bin Salman in Moscow on Wednesday ahead of the "Russian energy week" conference in Moscow, which Putin will address. Novak said he and Prince Abdulaziz discussed the oil market and cooperation within the OPEC+ group of oil producers. "Of course, (cooperation within OPEC+) was (considered) at our internal meeting, one of the most important topics that we discussed today," Novak said, according to Interfax news agency. "We are in constant contact and used this opportunity in our meeting to discuss the market situation," Novak said. It was not immediately clear what, if any, concrete conclusions were reached. Novak said earlier that the oil price would be discussed. ... Saudi Arabia and Russia have agreed to continue with voluntary oil supply cuts of a combined 1.3 million barrels of oil per day, or more than 1% of global demand, to the end of the year. Saudi Arabia said on Tuesday it was working with regional and international partners to prevent the escalation of the situation in Gaza and neighbouring areas, and reaffirmed that it supports efforts to stabilise oil markets. Israel produces very little crude oil, but markets are worried that the conflict could escalate and disrupt Middle East supplies, worsening an expected deficit for the rest of the year. https://www.msn.com/en-gb/news/world/russia-saudi-arabia-discuss-oil-market-prices-amid-israel-hamas-war/ar-AA1i1YOa
October 11, 20232 yr XOM acquisition of PXD made official this morning. $59.5B for 850K acres. XOM now has a combined acreage position of more than 1.4M acres between the Midland and Delaware, and daily production of roughly 1.3MBOED.
October 11, 20232 yr The DD on that acquisition will be never ending. They’ll be finding surprises on the land side for a decade or more.
October 11, 20232 yr We have ~6 months at PXD until closing. Up to 2 yrs in the LCO office for transitional procedures. Either we take the job offer at XOM (we have been told at least 90% will get an offer), or take the package. Btw, we find surprises in the Land dept almost every day. Our brokers know more abt our actual footprint and we do. Edited October 11, 20232 yr by LonghornJones
October 11, 20232 yr 7 minutes ago, LonghornJones said: We have 6 months at PXD until closing. Either take the job offer at XOM (we have been told at least 90% will get an offer), or take the package. Btw, we find surprises in the Land dept almost every day. Our brokers know more abt our actual footprint and we do. Take the package and run.
October 11, 20232 yr Take the package and run.That is what I would be inclined to do as well. But I have made some questionable career decisions as of late, so maybe throw my opinion out haha.
October 11, 20232 yr I imagine the culture shock is going to be horrific for legacy PXD employees when they get "assimilated" into XOM.
October 11, 20232 yr 1 hour ago, LonghornJones said: We have ~6 months at PXD until closing. Up to 2 yrs in the LCO office for transitional procedures. Either we take the job offer at XOM (we have been told at least 90% will get an offer), or take the package. Btw, we find surprises in the Land dept almost every day. Our brokers know more abt our actual footprint and we do. They keeping the PXD office complex in Las Colinas? In other words, are PXD employees that accept a position with XOM staying put or moving to Spring?
October 12, 20232 yr 9 hours ago, Fudge Nuggets said: I imagine the culture shock is going to be horrific for legacy PXD employees when they get "assimilated" into XOM. Why’s that? (Serious question)
October 12, 20232 yr 23 minutes ago, UT_OB1 said: Why’s that? (Serious question) Company policy mandates that you have to bang your whores at a La Quinta.
October 12, 20232 yr Company policy mandates that you have to bang your whores at a La Quinta.La Quinta: at least we aren’t Palace Inn
October 12, 20232 yr 11 hours ago, Blotto said: Company policy mandates that you have to bang your whores at a La Quinta. Frankly I think you want the firmer mattress of a La Quinta for said whore banging. Rolling around on the ultra-soft pillow top isn't optimal for banging leverage.
October 13, 20232 yr 20 hours ago, Patricio Swayze said: La Quinta: at least we aren’t Palace Inn palace inn you don’t have to bring your own
October 13, 20232 yr palace inn you don’t have to bring your own Hahaha. Get the same vibe from Scottish Inn.
October 13, 20232 yr They keeping the PXD office complex in Las Colinas? In other words, are PXD employees that accept a position with XOM staying put or moving to Spring?Moving
October 13, 20232 yr XOM plans to offer 90% of Pioneer a position at XOM including field employees. From what I’ve heard, maybe 30% make the move. Most decisions not to go have been culture based. Pioneer was the greatest place to work on earth, and for those who signed on right after college are abt to see what the real world is like.
October 13, 20232 yr 1 hour ago, LonghornJones said: XOM plans to offer 90% of Pioneer a position at XOM including field employees. From what I’ve heard, maybe 30% make the move. Most decisions not to go have been culture based. Pioneer was the greatest place to work on earth, and for those who signed on right after college are abt to see what the real world is like. I know a handful of folks that fled XOM for Pioneer a few years back. Welp. Help me understand the deal. Pioneer’s acreage is primarily in the Midland Basin. Why does XOM want to double down on Midland and not Delaware? Edited October 13, 20232 yr by billfromlaketravis
October 13, 20232 yr On 10/9/2023 at 10:14 PM, tx 3 putt said: I’m curious what he asked for / did to get one girl to tap out and go call the police. I really hope those women were Exxon employees or contractors. Well, La Quinta is pet friendly. Guess that became a different thing.
October 13, 20232 yr 1 hour ago, billfromlaketravis said: Help me understand the deal. Pioneer’s acreage is primarily in the Midland Basin. Why does XOM want to double down on Midland and not Delaware? Pioneers footprint is largely contiguous and in a great location. Infrastructure is already in place. Water issues were addressed ~5 years ago. The development plan was so solid as Pioneer wasn't drilling its best rock. Most peers/other operators' best wells were being popped in the near-term to appease the shareholder (even though that paradigm was shifting at PXD). XOM is getting a lot of inventory.
October 13, 20232 yr 9 hours ago, LonghornJones said: XOM plans to offer 90% of Pioneer a position at XOM including field employees. From what I’ve heard, maybe 30% make the move. Most decisions not to go have been culture based. Pioneer was the greatest place to work on earth, and for those who signed on right after college are abt to see what the real world is like. So, is my LinkedIn about to be flooded with XOM job openings, then?
October 14, 20232 yr So, is my LinkedIn about to be flooded with XOM job openings, then?Give it a year. For a Landman? Yes.
October 18, 20232 yr On 10/14/2023 at 9:15 AM, LonghornJones said: Give it a year. For a Landman? Yes.
October 18, 20232 yr Landmen, fill me in. At my last job, drilling two years in the Eagle Ford, landmen were very, very touchy and angry. I know y’all have to interface with landowners and promises from the E&P get broken often, but is that the usual mood? Just pissed off at everything?
October 18, 20232 yr 3 hours ago, Patricio Swayze said: Landmen, fill me in. At my last job, drilling two years in the Eagle Ford, landmen were very, very touchy and angry. I know y’all have to interface with landowners and promises from the E&P get broken often, but is that the usual mood? Just pissed off at everything? The older guys all hate their f***ing lives. I don’t get it, but they’ve seen some shit. I haven’t met one that isn’t cynical. The business has changed a great deal. It’s much more administrative now. F*** ton of meetings they don’t want to be in. The old guys tell funny war stories, but the underlying rage is there. Eagle Ford leases back in 2012-2018 were very complex with pretty tough continuous development clauses. And the documents were written by regarded South Texas personal injury attorneys. Random paragraphs that shouldn’t be in an O&G lease. References to irrelevant Texas Supreme Court cases. I’m pretty fortunate in that I deal with state and federal agencies, and other O&G companies 95% of the time. Everybody is a professional. There are some Biden Administration shenanigans, but that they’re manageable and can be planned around.
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