February 8, 20241 yr 6 minutes ago, Rex Kramer said: You should because I’m in the process of stealing one of your clients How bad were you sweating and shaking this morning?
February 8, 20241 yr 1 hour ago, Rex Kramer said: Not bad. Went to bed at 10:30 whilst the youngins did nothing good. But currently changing out of my pit stained button down. V&A’s waiters don’t leave your glass less than 1/3 full, ever Im actually not kidding about one of your clients. I was unaware we shared the same line of work. Or are you stealing them from another one of YOUR competitors?
February 10, 20241 yr On 2/8/2024 at 8:57 AM, The Royal We said: Irma's is where we would go if we didn't have clients with us. I love their food, but yea, nothing close to Vic and Anthony's/Pappas/EV's in price or booze selection. Pitchers of margaritas are always a good idea (at the time). I don't even really think about going to NAPE any more. The whole thing sounds like a huge asswhip to me at this point. It gets worse. The dinner at Irma's was buffet style. I think I'll go ahead and lose the host's card/phone number. I like the guy, but that's unacceptable NAPE behavior. Back to the drawing board. If anybody knows some good Colorado title opinion attorneys based in Houston, shoot me a PM.
February 11, 20241 yr Everyone is getting gobbled up. Woe unto the mid and small-caps who get left out in the cold.
February 12, 20241 yr 7 hours ago, DCA_HORN said: Endeavor finally selling. Oh boy. COP not going to be happy about that.
February 12, 20241 yr 16 hours ago, DCA_HORN said: Endeavor finally selling. Diamondback Energy on Monday decided to buy the largest privately held oil and gas producer in the Permian basin, Endeavor Energy Partners, in a cash-and-stock deal for about $26 billion, including debt. The combined company would be the third largest oil and gas producer in the region behind Exxon and Chevron. Edited February 12, 20241 yr by Storm the Field
February 13, 20241 yr Saw that as a result of the Endeavor sale, Autry Stephens is expected to leapfrog Hildebrand and Harold Hamm to become the wealthiest oilman in America (going by the latest Forbes net worth figures), and he will now be in the Top 75 or so richest people on the planet. Unfortunately for him, he's 86 and recently diagnosed with prostate cancer, so his reign may not last long.
February 15, 20241 yr On 2/11/2024 at 3:22 PM, DCA_HORN said: Endeavor finally selling. https://www.businessinsider.com/endeavor-energy-autry-stephens-net-worth-career Autry Stephens is set to be one of the world's richest people after selling his oil business. But the 85-year-old didn't sound very excited about his newfound billions in a recent interview. The sale is set to create one of the biggest drillers poised to take advantage of Texas' oil boom
February 16, 20241 yr Reuters reporting that gas is at an inflation adjusted 30 year low. So, that’s fun.
February 16, 20241 yr You guys know more about this than I do, but I read that and don't understand their inflationary adjustment. It wasn't part of the CPI but the commodity index which is a different benchmark. But yeah, all in all---30 year low either way. That's weird to think about considering where we were just less than a year ago. I guess the old adage like real estate bubbles, only time you worry about a Gas one is when everybody finally quits talking about it.
February 16, 20241 yr On 2/15/2024 at 5:27 PM, MAUFRAIS said: Does that guy like football? Let me see. Flies SWA. Drives the same car to work for a couple decades. Won’t give his daughter who sits on the company’s board control of the company. Son isn’t in the business. I’d say Autry is a grumpy, old miser. If he attends Texas games, he’s probably sneaking in snacks from home.
February 19, 20241 yr Da fuh with the crude going to India refineries and then coming here, from an economic standpoint? It’s not a small amount.
February 28, 20241 yr On 10/23/2023 at 5:59 AM, Fudge Nuggets said: Chevron acquiring Hess for $53bln in all stock deal https://www.reuters.com/markets/deals/chevron-buy-hess-corp-53-bln-stock-2023-10-23/. This may have hit a snag. CVX warned in an investor note Monday that XOM may assert that they have a right of first refusal over Hess' 30% stake in the Guyana project, jeopardizing the acquisition. Edited February 28, 20241 yr by Storm the Field
February 28, 20241 yr Thought I'd ask here as someone asked me but I didn't know as that's a different side of the business than I'm in... Someone approached my buddy about some of the prospects that his old man (independent geologist but now gone) had put together years ago - he still has all the maps, logs, 3D seismic (and model) and the proposed exploration targets (deeper prospects of an existing field). Current operator is just stripping the existing reservoirs.) What sort of ORRI should he be asking for? I've Googled and seen the 1.5-3% range but I've has someone else say 5-7%... I figured someone here might know what he might expect/request when meeting with the potential investors... Plan was to just hand over all the info to the investors - with their own G&G team to review/revise existing prospects - for ORRI and some sort of "transfer" fee or signing bonus. (And maybe the possibility buying in WI in the future if the first few wells are successful...) I didn't know what to tell him a "reasonable" request for % or $ was these days before he walks into the discussions... Anyone?
February 28, 20241 yr So many factors that play in there. What is their current net revenue interest (NRI) for the working interest owners in the existing production? If new leasing is going to take place, what royalty will the Lessors get in the new lease? If it’s 25%, will the operator be okay with a sub 75% NRI if they convey out an ORRI? And if it were me talking, not legal advice or anything, I’d push for ORRI over WI where possible. WI can be a headache from getting billed and having to elect into proposed operations, liability, etc. ORRI is free of those headaches, mostly.
February 28, 20241 yr 3 hours ago, Storm the Field said: This may have hit a snag. CVX warned in an investor note Monday that XOM may assert that they have a right of first refusal over Hess' 30% stake in the Guyana project, jeopardizing the acquisition. If XOM can block the Guyana stuff, no way CVX goes through with the deal.
February 28, 20241 yr I would be shocked if XOM’s ROFR applied to an acquisition of the shares of HES. This is the type of argument made by African countries. Generally, that ROFR is only applicable to the transfer of the license or the sub holding the license.
February 28, 20241 yr I'm in the dark here on the current T&C's of the lease. Not sure what are the current lease terms so would probably require either buying out the current operators or getting new leases on the deeper rights... The current operators bought the lease 2 years ago for existing production for just over a million but production was from wells that have been producing for year (~5K bbls last year). All previous production is shallow and these prospects are deeper. What he was asking me is what a "reasonable" %ORRI would be to ask for as the only question to him from the investor was "what are you want for the data and prospects" and no clue on what to say... (He was at a party and in the conversation mentioned he had cleaned out his dad's old office and found all the prospect info in a bunch of boxes and CD's when the "investor" asked...)
February 29, 20241 yr Okay, well keep quoting me from ignore mode. Which is weird. but genuinely interested in y’all’s thoughts on the ramp up in cybersecurity spending from the DoE and DoD in the energy space. Not a huge chunk of cash but not nothing either. Over my head but seems timely as an issue
March 1, 20241 yr WTI bumping up close to $80 again this morning. Would be highest closing price year to date.
March 3, 20241 yr On 2/28/2024 at 1:19 PM, Fudge Nuggets said: If XOM can block the Guyana stuff, no way CVX goes through with the deal. Interesting. I wonder where they’ll pivot. Chevron acquiring the new FANG would be every Diamondback employee’s worst nightmare. Edited March 3, 20241 yr by billfromlaketravis
March 3, 20241 yr Rumor is XOM is just looking for a nice payment and aren't going to follow through with blocking the deal. We'll see.
March 4, 20241 yr Yet another merger. Quote US energy firm Chord Energy announced it would acquire Canada's Enerplus, creating a Williston basin-focused entity with an enterprise value of $11 billion. The combined company is expected to be a premier operator in the Williston basin in North Dakota, with about 1.3 million net acres and 287,000 barrels of oil equivalent per day in production.
March 6, 20241 yr Pretty nice comp conversation today. I thought there was no way I’d hit my bonus number, but I did. Best bonus in 6 years by a fairly wide margin. I’ll probably have enough for a steak lunch after my wife takes her cut. Edited March 6, 20241 yr by billfromlaketravis
March 6, 20241 yr 13 hours ago, billfromlaketravis said: Pretty nice comp conversation today. I thought there was no way I’d hit my bonus number, but I did. Best bonus in 6 years by a fairly wide margin. I’ll probably have enough for a steak lunch after my wife takes her cut. You told her you got a bonus?
March 10, 20241 yr Is anybody else running into this? My company gives a very fair bonus, but they’re very slow on raises/promotions. Median time for promotions in my group is about 9 years. My raise this year was just a point over the COL adjustment.
March 12, 20241 yr On 3/5/2024 at 9:16 PM, billfromlaketravis said: Pretty nice comp conversation today. I thought there was no way I’d hit my bonus number, but I did. Best bonus in 6 years by a fairly wide margin. I’ll probably have enough for a steak lunch after my wife takes her cut. Texas Roadhouse HH !
March 13, 20241 yr According to JPMorgan, the U.S. has achieved energy independence for the first time in 40 years.
March 14, 20241 yr The two seminal events in our modern industry occurred in the 21st Century. 1) Mitchell Energy perfecting fracking and 2) lifting the export ban in 2015. I’n probably managing a Verizon store without both these events going my way. Edited March 14, 20241 yr by billfromlaketravis
March 14, 20241 yr On 3/13/2024 at 1:06 AM, tx 3 putt said: According to JPMorgan, the U.S. has achieved energy independence for the first time in 40 years. VIsualized. Edited March 14, 20241 yr by Storm the Field
March 14, 20241 yr Seems highly likely that today will mark the first close for WTI above $80 since early November. Currently up $1.50 to $81.25 this morning. Edited March 14, 20241 yr by Storm the Field
March 14, 20241 yr Yeah the whole equivalent nature of independence is misleading but whatever, still a good sign.
March 14, 20241 yr The Continental Resources wells recently completed in one part of my lease are contributing to that “surplus”. The IPs on a couple of them are coming in at 2,200-3,200 BOPD so far. The lower end wells are 700-1,500. Dunno about the gas.
March 14, 20241 yr The Continental Resources wells recently completed in one part of my lease are contributing to that “surplus”. The IPs on a couple of them are coming in at 2,200-3,200 BOPD so far. The lower end wells are 700-1,500. Dunno about the gas.Where at?
March 14, 20241 yr 59 minutes ago, Dr Fear said: 1 hour ago, Armybrat said: The Continental Resources wells recently completed in one part of my lease are contributing to that “surplus”. The IPs on a couple of them are coming in at 2,200-3,200 BOPD so far. The lower end wells are 700-1,500. Dunno about the gas. Where at? North Dakota Bakken.
March 14, 20241 yr More context behind the “LNG” pause and why it isn’t about the environment. https://www.forbes.com/sites/daneberhart/2024/03/04/the-hidden-qatar-backed-influencer-pushing-the-american-lng-pause/amp/
March 15, 20241 yr 21 hours ago, tx 3 putt said: Now show the graph where we actually refine the crude that we produce, rather than having to import different crude grades for our own consumption...
March 15, 20241 yr 20 hours ago, DCA_HORN said: Yeah the whole equivalent nature of independence is misleading but whatever, still a good sign. Yes, it’s a good sign.
March 15, 20241 yr 17 hours ago, Hate said: More context behind the “LNG” pause and why it isn’t about the environment. https://www.forbes.com/sites/daneberhart/2024/03/04/the-hidden-qatar-backed-influencer-pushing-the-american-lng-pause/amp/ So, aggy NIL is awash only in oil money, and not in gas?
March 15, 20241 yr 3 hours ago, Armybrat said: So, aggy NIL is awash only in oil money, and not in gas? Yeah, those clips from Nebraska fans about all that A&M oil money were weird as fuck. I swear there's some kinda corn ethanol play in there but I can't figure it out. About once a year, UTIMCO and THECB and UTS BoR get inundated with the usual "Divest from O&G now!!!" from student groups at myriad campuses. I even get it in my classroom. And somebody has to explain, "It's not that we're investing in O&G stocks, it's that the University Lands that are the basis of our endowment are already in O&G. It's not like we cash your tuition check and send the cash to Conoco Phillips young lady." But I guess, there should be a better communication stream between how our higher ed systems get funded to our students/parents/donors. But yeah this week, watching those Nebraska fans complaining about "A&M Oil Money" was kinda funny to me. Considering their past in athletics, they may want to tap the brakes. Anywho, back to energy. SMR's. Getting some traction.
March 15, 20241 yr 3 hours ago, Rex Kramer said: That the purported independence occurred in Trump’s 3rd year? I’m not sure that’s the message you want to convey to your CR buddies on the Dark Brandon thread. Regardless, it’s a totally meaningless sign. One that signals we have a glut of gas that isn’t compatible with most of our country’s transportation energy needs. The graph doesn’t tell anything other than that. I would argue it’s a BAD sign that your champion’s energy department has that much gas in its borders, and puts policies in place that show it has zero idea had to administer that tremendous resource. On the other hand, GOP folks keep crowing that we WERE energy independent under Trump (based on the same "net exporter" metric) but that Biden has crippled it. Trump lately has been dusting off the "we're gonna drill, baby, drill" line as one of the top priorities in his 2nd term. All of which is pretty fucking dumb given current production levels and import/export numbers. By and large, people outside the industry, both on the left and right, have absolutely no idea what they are talking about when mixing politics and O&G. Edited March 15, 20241 yr by Storm the Field
March 16, 20241 yr No, I get it. But just those rants from UNL fans about the AD going to Aggie just percolated it again this week. It happens almost on an annual basis and it's like Gaza or some other energy-based rant. But ours is particularly puzzling because yeah it'd be one thing if there were billions of dollars directly invested in global equities on the O&G side. But the UTIMCO endowment is a different animal altogether. But yeah, to your point---it's almost not even worth explaining. Either they get that it helps keep their tuition down or they don't. We get they don't want a lecture in royalties v. minerals or upstream v. midstream, but at some point, there's gotta be a way to just point out "Look, we're not taking your pell grant money and buying Exxon stock!" But it's a nice problem to have given our land holdings. Anyway, look for some other news on the E&P side on UT Foundation Lands at the end of the quarter. And then probably an ensuing protest.
March 16, 20241 yr https://am.jpmorgan.com/content/dam/jpm-am-aem/global/en/insights/eye-on-the-market/electravision-amv.pdf
March 16, 20241 yr On 3/15/2024 at 9:17 AM, Rex Kramer said: That the purported independence occurred in Trump’s 3rd year? I’m not sure that’s the message you want to convey to your CR buddies on the Dark Brandon thread. Regardless, it’s a totally meaningless sign. One that signals we have a glut of gas that isn’t compatible with most of our country’s transportation energy needs. The graph doesn’t tell anything other than that. I would argue it’s a BAD sign that your champion’s energy department has that much gas in its borders, and puts policies in place that show it has zero idea had to administer that tremendous resource. Why are you asking someone else on the internet to find you a report that is easily found?
March 16, 20241 yr Ah yes the “bullshit” report from noted librul rag JP Morgan. The socialists at that institution have run this country into the ground. Not once did I see a 100/bbl guess in the 57 page write up.
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