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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. 

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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

  • 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

Posted Images

Things could open up very, very interestingly tomorrow evening.   

tempered response so far.  crude and gas blipped up, but settled back lower.  same response on equities future - big dip but mostly recovered.

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/
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

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?  

1 hour ago, babysdaddy said:

Assume he was banging a whore or two?  And they blackmailed him or attempted to?  

image.jpeg.475988e70b6d26666f7f3745c4cb6bca.jpeg

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 by tx 3 putt

La Quinta's are connected to Denny's, right?
It's what "La Quinta" means.
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.

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.

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 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.
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? :)

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.
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...

she didnt like his bottomhole assembly

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

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.

The DD on that acquisition will be never ending. They’ll be finding surprises on the land side for a decade or more. 

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 by LonghornJones

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.

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.

I imagine the culture shock is going to be horrific for legacy PXD employees when they get "assimilated" into XOM.

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?

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)

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.

Company policy mandates that you have to bang your whores at a La Quinta.

La Quinta: at least we aren’t Palace Inn
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. 

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 

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

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.

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 by billfromlaketravis

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.  

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.

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?

So, is my LinkedIn about to be flooded with XOM job openings, then?

Give it a year. For a Landman? Yes.
On 10/14/2023 at 9:15 AM, LonghornJones said:


Give it a year. For a Landman? Yes.

giphy.gif

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?

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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