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Featured Replies

Other than geology, what’s the biggest obstacle to get the Powder over the top? 

Service and horse power availability.
  • Replies 6.9k
  • Views 617.8k
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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

20 minutes ago, Rex Kramer said:

Nah. But it’s gonna shoot up in the short term. How long depends upon what exactly Israel does. 


saudis already jumped in

The Bloomberg ticker has WTI up 64 cents and Brent up 71 cents right now. As it’s been pointed out here and many other places, global conflicts don’t really affect prices like they did in years past. 

STR is run by good guys.  I don't know how much they're going to be able to grow the business, but the div should be pretty safe.

There's a couple of the Brigham guys still hanging around over there.

  • 2 weeks later...

Interesting. Reports just came out that FTC will approve the XOM/PXD merger on the condition that Sheffield be barred from serving on the BOD. 

 

Quote

 

Exxon to Close Megadeal, Pioneer CEO to Be Barred from Exxon Board in Deal With FTC

Antitrust enforcers are set to allege Pioneer CEO Scott Sheffield discussed coordinating oil-production levels with other producers and OPEC.

An oil executive embroiled in a price-fixing lawsuit is expected to be barred from serving on ExxonMobil’s board when the energy giant buys the Texas-based petroleum producer Pioneer Resources, according to three people with direct knowledge of the matter.

The Federal Trade Commission is set to greenlight the $64 billion deal, despite antitrust concerns — but on the condition that Scott Sheffield, Pioneer’s founder, two-time former CEO and current board member, not serve as planned on Exxon’s board, the people said.

The FTC alleges that Sheffield exchanged hundreds of messages with OPEC officials discussing oil output and prices, one of the people said.

 

 

Some nice producers among these new wells in North Dakota’s Bakken 

(Lake Sakakawea in the background)

 

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Been helping out on some Permian work again lately for the first time in a little while. Keep seeing leases that have these specific provisions where they can't be assigned to CHK, Endeavor, or any entity affiliated with Autry Stephens.

I've run across similar provisions several times in various leases over the years. Anyone know the exact story on that? Feels like it only ever applies to those specific companies

3 hours ago, Storm the Field said:

Been helping out on some Permian work again lately for the first time in a little while. Keep seeing leases that have these specific provisions where they can't be assigned to CHK, Endeavor, or any entity affiliated with Autry Stephens.

I've run across similar provisions several times in various leases over the years. Anyone know the exact story on that? Feels like it only ever applies to those specific companies

Here come the Autry apologists. No CHK is 1000% understandable.

To name them specifically is something else. A hard consent in assignment clause usually does the trick. I’m thinking a local attorney got burnt and CHK and Autry made his lease form. 

Edited by billfromlaketravis

On 5/2/2024 at 9:06 PM, Armybrat said:

Some nice producers among these new wells in North Dakota’s Bakken 

(Lake Sakakawea in the background)

 

IMG_2929.jpeg

IMG_2931.jpeg

That doesn't look like a commercial jet wing.  Whatcha flying there?

52 minutes ago, CycleTex87 said:

That doesn't look like a commercial jet wing.  Whatcha flying there?

Not me. 
My land man  - he is half owner of a Cirrus. I dunno which model.

Another 10 figure deal in Houston. KKR-backed Crescent Energy is buying SilverBow for $2.1B. This comes just weeks SilverBow turned down Kimmeridge's latest unsolicited offer to buy the company.

Crescent will now be the #2 operator in the Eagle Ford.

Nat Gas has finally crawled out of the crapper a bit. Up to $2.50 today, which is its highest price since the last week of January. It has been sub-$2 since February 7th. Bottomed out at $1.57 on 3/26.

Edited by Storm the Field

4 hours ago, Storm the Field said:

Another 10 figure deal in Houston. KKR-backed Crescent Energy is buying SilverBow for $2.1B. This comes just weeks SilverBow turned down Kimmeridge's latest unsolicited offer to buy the company.

Crescent will now be the #2 operator in the Eagle Ford.

Thank you for the update, but what metric are using for #2 operator? I thought EOG and COP were the big dogs in Eagle Ford. 

15 minutes ago, billfromlaketravis said:

Thank you for the update, but what metric are using for #2 operator? I thought EOG and COP were the big dogs in Eagle Ford. 

Just quoting from the press release and all the stories reporting on it.

Press Release:

 Complementary combination creates the 2nd largest operator in the Eagle Ford
 

Rueters:

Oil and gas producer Crescent Energy (CRGY.N), opens new tab has agreed to buy rival SilverBow Resources (SBOW.N), opens new tab for $2.1 billion, a deal which would create the second-largest operator in the Eagle Ford basin in south Texas.

 

WSJ:

The energy companies said the combination will create the second largest operator in the Eagle Ford Shale.

21 minutes ago, Storm the Field said:

Just quoting from the press release and all the stories reporting on it.

Press Release:

 Complementary combination creates the 2nd largest operator in the Eagle Ford
 

Rueters:

Oil and gas producer Crescent Energy (CRGY.N), opens new tab has agreed to buy rival SilverBow Resources (SBOW.N), opens new tab for $2.1 billion, a deal which would create the second-largest operator in the Eagle Ford basin in south Texas.

 

WSJ:

The energy companies said the combination will create the second largest operator in the Eagle Ford Shale.

Thanks. It’s been a minute since I followed the Eagle Ford. 

6 hours ago, billfromlaketravis said:

Thank you for the update, but what metric are using for #2 operator? I thought EOG and COP were the big dogs in Eagle Ford. 

Enterprise value. I work at one of the companies involved. This definitely came out of nowhere. Deal was dead as of a week ago. 

  • 2 weeks later...

ConocoPhillips acquiring Marathon Oil, per my LinkedIn feed. 

1 hour ago, Eastwood said:

ConocoPhillips acquiring Marathon Oil, per my LinkedIn feed. 

$17B deal.

The list of mid-major E&P's in existence grows even shorter. 

2 hours ago, Eastwood said:

ConocoPhillips acquiring Marathon Oil, per my LinkedIn feed. 


Id be very worried if I was a marathon employee in an office 

16 minutes ago, Rex Kramer said:

Is this like your Louisville PD will take Scottie to trial prediction?


pesky white people had video evidence. Louisville Pd had their guy covered 

9 hours ago, tx 3 putt said:


Id be very worried if I was a marathon employee in an office 

I have a friend over there in the land department. She wants a package so she can go to law school. 
 

But yes, the wife and kids guys have to deeply concerned. COP will eliminate any and all redundancies. 
 

I was at a crawfish boil last Thursday with a Marathon attorney and he of course didn’t say a word. If he were a landman, he would have told me about it within 5 minutes. 

9 hours ago, tx 3 putt said:


Id be very worried if I was a marathon employee in an office 

I guy just left a nice position at my company for a similar position at Marathon about two weeks ago. Oops.

1 minute ago, Hate said:

I guy just left a nice position at my company for a similar position at Marathon about two weeks ago. Oops.

I was fishing for a competing offer to get a raise so I interviewed with Marathon last year. They could smell the bullshit on me, and I didn’t get a second interview. 

6 minutes ago, Hate said:

I guy just left a nice position at my company for a similar position at Marathon about two weeks ago. Oops.

Excited Oh No GIF
 

 

He’s in Safety too. Probably one of the first departments to get cut. Rumor is he left because Marathon is WFH 3 days a week and we are 100% in the office. He may be at home 100% of the time now.

COP has a pretty shitty reputation in land at the moment. They have a long history of brutal layoff rounds. Their latest move is worse. They made their entire Permian land department, ops and admin, move to Midland. Just a fucking bizarre move. We can drill wells in the Gulf remotely from Houston, but COP needs division order boots on the ground in West Texas, because? 

2 minutes ago, Hate said:

He’s in Safety too. Probably one of the first departments to get cut. Rumor is he left because Marathon is WFH 3 days a week and we are 100% in the office. He may be at home 100% of the time now.

If you’re important enough, Marathon was OK’ing WFH 4 days a week, but 3 days was their policy for the plebs. 
 

I really like their new building in City Centre. Houston commercial real estate about to take another L. 

I worked from home for 3 years before I moved to my current role.  I loved working from home for a variety of reason, but my current employer only allows it for very approved purposes and for a very short time.  I actually prefer being in the office now.  I fell much more productive and it's much easier to collaborate with my team. 

21 minutes ago, Rex Kramer said:

I’d have a huge chunk of them there. You know how many deals get cut at MCC or MPC? Edit: and I’d probably have the other half office in Horseshoe Bay  

Also, this work from home bullshit is bullshit. I wouldn’t hire anyone that demands it. 

At companies as big as COP, I think it’s a waste of time. Big deals are done at a much higher level than land and BD. Shaking hands at the Midland Petroleum Club ain’t going to do shit other than run up expense reports. 

And it’s worse for the land admin folks. They have nothing to do with BD, and they were dragged out there. They could set up a pay deck or a lease from anywhere if their records are digitized.

Also some version of WFH is the new standard at very major except for XOM. I’ll admit to being more productive at the office, and it’s nice getting out of the house. But I also like sleeping until 7am on Mondays and Fridays. With 9/80s and how much PTO I’ve accrued, I was taking every Friday off. But they’re training me for a promotion, and I’ve been instructed to cool on never working Fridays. It was fun while it lasted, but it’s a lot of money to turn down. 

Edited by billfromlaketravis

I worked there for a few years. Good people. RIP MRO.

1 hour ago, Rex Kramer said:

I’d have a huge chunk of them there. You know how many deals get cut at MCC or MPC? Edit: and I’d probably have the other half office in Horseshoe Bay  

Also, this work from home bullshit is bullshit. I wouldn’t hire anyone that demands it. 


Odessa cc for life !!!

1 hour ago, billfromlaketravis said:

 

I really like their new building in City Centre. Houston commercial real estate about to take another L. 


very nice building 

11 hours ago, Hate said:

I guy just left a nice position at my company for a similar position at Marathon about two weeks ago. Oops.

Gonna be more like a sprint, then?

Well tip of the cap to COP. My friend at Marathon will receive 39 weeks of severance. Thats pretty generous. 

Edited by billfromlaketravis

3 hours ago, billfromlaketravis said:

Well tip of the cap to COP. My friend at Marathon will receive 39 weeks of severance. Thats pretty generous. 

Is marathon still hiring?..

3 putt, some of the Anadarko people received 2 years severance, 2 years full bonus, LTI, and they bought out their PTO back in 2018 and 2019. 
 

A lot of guys in their 50’s just hung it up. 

Well tip of the cap to COP. My friend at Marathon will receive 39 weeks of severance. Thats pretty generous. 

Damn, they are already letting people go / notifying them ?
1 minute ago, Horns99 said:


Damn, they are already letting people go / notifying them ?

Sooner you start, the sooner you get them off the payroll 

7 minutes ago, Horns99 said:


Damn, they are already letting people go / notifying them ?

When Dow bought out Union carbide, they had a huge group of people report straight to the cafeteria day 1. They got the speech, then to hr people, then out the gate. All their stuff was boxed up and waiting for them as they left the plant 

8 hours ago, Horns99 said:


Damn, they are already letting people go / notifying them ?

They’ve laid out severance packages for everyone in the event they’re not retained. I don’t have a percentage or number, but COP will keep a small number of Marathon employees. 

18 hours ago, billfromlaketravis said:

They’ve laid out severance packages for everyone in the event they’re not retained. I don’t have a percentage or number, but COP will keep a small number of Marathon employees. 


volunteers probably get a gift card or something on the way out 😂

Is opec increasing production to help Russia raise money ?

Edited by tx 3 putt

"Now do '23"???  Is that how commodity futures  work?  Asking for a friend in 2022.  

They’ve laid out severance packages for everyone in the event they’re not retained. I don’t have a percentage or number, but COP will keep a small number of Marathon employees. 

Pretty generous package for MRO employees, particularly if you’ve been there awhile. What’s to stop COP from bringing them all over and then just laying them off in a couple of months? Is this negotiated as part of the buyout? Good faith? Just seems like they could get out of paying a ton of severance by bringing em all over and the whacking them in short order.
34 minutes ago, txduck87 said:


Pretty generous package for MRO employees, particularly if you’ve been there awhile. What’s to stop COP from bringing them all over and then just laying them off in a couple of months? Is this negotiated as part of the buyout? Good faith? Just seems like they could get out of paying a ton of severance by bringing em all over and the whacking them in short order.

Most of the time the severance package has been set by the Target company prior to any transaction negotiations. The Buyer almost always accepts the existing terms. Additionally, the Severance plan will normally apply for a 1 or 2 year period after the change in control. So, the Buyer can’t avoid the severance payout.

4 hours ago, txduck87 said:


Pretty generous package for MRO employees, particularly if you’ve been there awhile. What’s to stop COP from bringing them all over and then just laying them off in a couple of months? Is this negotiated as part of the buyout? Good faith? Just seems like they could get out of paying a ton of severance by bringing em all over and the whacking them in short order.

There’s usually something called a change of control in acquisitions. Basically if you’re retained, they can’t touch you for a certain amount of time. 
 

The Anadarko people benefitted greatly from the change of control protections after they were acquired. I believe they remained in place for 18 months after closing. Oxy couldn’t lay them off, transfer them, reduce their pay or benefits, or change their job titles. Vinson & Elkins has really good attorneys. 
 

Many older APC people took packages. The deal looked really bad for Oxy initially and they took the guaranteed money and got out. If you’re over 60, 2 year salary + full bonuses sounds pretty damned good. 

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