September 12, 20241 yr 3 minutes ago, swraith said: Uh, we do not need 3x nat gas production. You think $2.25 nat gas is fun, wait til you see $0.25!
September 12, 20241 yr 2 hours ago, Storm the Field said: You think $2.25 nat gas is fun, wait til you see $0.25! We won't be satisfied until its negative tree fiddy.
September 12, 20241 yr The experts continue to be mystified Biden admin buys another round of oil for Strategic Petroleum Reserve The Department of Energy said the average cost of the new purchases was about $76 per barrel. https://www.eenews.net/articles/biden-admin-buys-another-round-of-oil-for-strategic-petroleum-reserve/
September 12, 20241 yr I’m rooting for the meteor in November. Neither side understands our industry at all. The closest they’ve overcome is appointing Rex Tillerson to the wrong Cabinet post.
September 12, 20241 yr 6 hours ago, hornmpa96 said: JD is a moron who clearly doesn’t understand capitalism. he’s pandering to the idiots
September 13, 20241 yr On 9/6/2024 at 3:50 PM, Nice Guy Eddie said: Not to get cr but one of the presidential candidates promised <$2 gasoline presumably for their entire term. Would that spook some traders? No. Because outside of doing a direct subsidy a la Kuwait (which wouldnt pass), politicians dont have the direct ability to effect a change of that magnitude for that duration.
September 13, 20241 yr 1 hour ago, 52-80 said: No. Because outside of doing a direct subsidy a la Kuwait (which wouldnt pass), politicians dont have the direct ability to effect a change of that magnitude for that duration. Full CR... unlike the candidates we have to choose from this photo contains two solid choices vs. none
September 13, 20241 yr WTI back above $70 by a few dimes and pennies. Up about 4% on the week despite crashing to $65 on Tuesday.
September 20, 20241 yr WTI $72.35 (2 week high) and Natty at $2.42 (3 month high). Decent little win streak after the oversold panic at the beginning of the month.
September 22, 20241 yr I’m starting to think the IEA is controlled by oil and gas traders (duh).They need markets to move, so they press a button and IEA releases some peak oil bullshit press release. Meanwhile, the plebs suffer while oil traders are doing lines off of strippers’ asses on ChiTownDoc’s yacht in Miami. This latest bullshit put a dent in my bonus.
September 25, 20241 yr Generally bearish and pessimistic comments from executives in responding to Dallas Fed’s survey. Many expected depressed prices in cl and ng https://www.dallasfed.org/research/surveys/des/2024/2403#tab-comments (of course, 1 opinion, even from a big wig, is still just 1 opinion weighted against the entire market)
September 26, 20241 yr Allegedly the Saudis are abandoning their price target for production increases.
September 27, 20241 yr I hope they didn't pay consultants too much to help them come up with that. Edited September 27, 20241 yr by The Royal We
September 27, 20241 yr 3 hours ago, The Royal We said: I hope they didn't pay consultants too much to help them come up with that. Years ago I heard a story of a brand consultant getting a million dollars to recommend to Circle K they should rebrand a chain of stores they bought in Indiana(bigfoot) to....Circle K
September 29, 20241 yr On 9/26/2024 at 11:24 AM, Dr Fear said: The combined Chesapeake and SWN is going to be called Expand Energy??? Woof. Somehow still better than Permian Resources and Chord. SWN has a really nice building off of 45 in Houston. I wonder if they sell it and move everybody to Duke West in OKC? Edited September 29, 20241 yr by billfromlaketravis
September 30, 20241 yr Hess CEO gets the Sheffield treatment. Will not be allowed to join the CVX board in order for the merger to proceed. Quote The Federal Trade Commission has banned Hess Corp. CEO John Hess from Chevrons board as a condition for the oil companies’ $53 billion merger to move forward. The FTC on Monday alleged that Hess communicated with OPEC representatives about global oil output and inventory management over the years, encouraging them to take action that supports higher prices.
October 1, 20241 yr This Sarah Stogner seems like a real cunt actually. The LinkedIn saga is fun to follow though. My guess is she’s going to end up in jail or have her law license revoked within the next few months.
October 1, 20241 yr 13 hours ago, Rex Kramer said: She’s an attention whore and I’m suspicious of anything she writes. It’s funny Chevron pulled an Emergency TRO and she and her weirdo partner continue to post that and all these petitions. They’re antagonizing them. Chevron cited in their latest filing this was the direct result of social media threats. They’re making enemies all over the industry. They’ll never get elected. Yeah I saw that too. I have no idea what her and “Hawk” are thinking. It’s hilarious that Chevron came with receipts on the TRO filing- then Sarah the attention whore goes and blasts it all over social media looking for support in their ongoing fight against big bad oil while crying “lawfare.” They are both fucking morons and the landowner is just as stupid retaining them as their legal representation team vs. CVX and local Permian independents like Pitts and Williams. “Hawk” has zero shot at being elected to RRC commissioner, especially after this shitshow playing out in the public realm. A total dumpster fire.
October 1, 20241 yr It's the same as starting a fake Surly handle. It's possible you can figure it out.
October 1, 20241 yr 3 hours ago, Rex Kramer said: How do I start a fake LinkedIn Profile to fuck with them? Just use a burner email. Would be absolute gold!
October 2, 20241 yr 9 hours ago, Rex Kramer said: How do I start a fake LinkedIn Profile to fuck with them? Nobody listens to you now, try that one
October 2, 20241 yr On 9/5/2024 at 7:12 AM, Rex Kramer said: That’s not accurate. We have moved well over $90 several times in the last year. The SPR release in mid 2022 is the reason we moved down from $100 in 3Q’22 after spending about 5 months above it. We hit $93 exactly one year ago. Since then, the highest we have seen on any bounce is $88. Where exactly is this "well over $90"?
October 2, 20241 yr One month with a high of $93 does not equal ‘well over $90 several times’. Are you counting every tick above $90.00 on a 1s basis in your bucket of‘several’?
October 2, 20241 yr He doesn’t have me on ignore and he won’t put you on it either for posting his horrible inaccuracies.
October 7, 20241 yr WTI $77 and Brent back to $81, both of which are 6-week highs. Nat Gas briefly flirted with $3 on Friday, but has pulled back since to $2.75. Just can't seem to break out, been pretty much stuck between $1.75 and $3.25 for going on 18 months now. Edited October 7, 20241 yr by Storm the Field
October 9, 20241 yr My dad used to say back in the early '80s "if we could only have $2 gas, we'd all get rich". And there it is! but we're not rich.
October 11, 20241 yr Houston traffic makes strange friends. I spent 45 minutes explaining to an Uber hybrid driver why natural gas was good. Here’s a byproduct of WTI production that we should be using to fuel our Scarlett Johansson nude searches, but Google won’t use it because it came from some fossils.
October 15, 20241 yr On 10/7/2024 at 8:55 PM, Storm the Field said: WTI $77 and Brent back to $81, both of which are 6-week highs. Nat Gas briefly flirted with $3 on Friday, but has pulled back since to $2.75. Just can't seem to break out, been pretty much stuck between $1.75 and $3.25 for going on 18 months now. Lee Corso'ed
October 28, 20241 yr Hello Texas oil barons, it's an old big12 friend here with some questions. Is there something new going on in NW Kansas? My parents have owned the grandparents old place by Colby KS for 5+ years and just had a landman knock on their door in KC inquiring about leasing the land. Basic conditions seem to be $20 an acre upfront for the right to drill for 3 years and then 1/8 of the oil if they find any. Here is the company that would eventually end up with the rights https://www.jfredhambrightinc.com/ Is this a pretty standard lease agreement? We would have an attorney look over it before signing anything but just figured I'd see what the shaggy collective has to say. This map shows a record of every well in KS and while there are none immediately next to our land there are a couple about 2-3 miles away that average around 2k bbls per year. https://maps.kgs.ku.edu/oilgas/index.html
October 29, 20241 yr Fill ‘er up US seeks up to 3 million barrels of oil for emergency reserve https://www.reuters.com/business/energy/us-announces-solicitation-up-3-million-barrels-oil-delivery-spr-2024-10-28/
October 29, 20241 yr 1 hour ago, StassneyHorn said: Tell him to pound sand What would more reasonable numbers be on something like that?
October 29, 20241 yr 12 hours ago, UT_OB1 said: What would more reasonable numbers be on something like that? How many acres? No experience with KS, but it looks like Colby is on the outskirts of one the more active oil plays in the state. 2 decades in this business I have never once heard of a modern day lease bonus figure that low. Like $20/acre is something I'd expect to see in a lease taken 40+ years ago. 3 year term is pretty standard. 1/8 is basically the bare minimum default royalty in the absence of negotiation. Edited October 29, 20241 yr by Storm the Field
October 30, 20241 yr On 10/28/2024 at 6:34 PM, Ted Dantzler said: Hello Texas oil barons, it's an old big12 friend here with some questions. Is there something new going on in NW Kansas? My parents have owned the grandparents old place by Colby KS for 5+ years and just had a landman knock on their door in KC inquiring about leasing the land. Basic conditions seem to be $20 an acre upfront for the right to drill for 3 years and then 1/8 of the oil if they find any. Here is the company that would eventually end up with the rights https://www.jfredhambrightinc.com/ Is this a pretty standard lease agreement? We would have an attorney look over it before signing anything but just figured I'd see what the shaggy collective has to say. This map shows a record of every well in KS and while there are none immediately next to our land there are a couple about 2-3 miles away that average around 2k bbls per year. https://maps.kgs.ku.edu/oilgas/index.html $500-$1000 per net acre seems to be the going rate in Colorado. 3 year term, 2 year extension. Around 20% royalty. The extension payment should be the same as the original bonus. The more contiguous acreage, the better the rock, the higher the bonus and royalty. The link you provided is for a land broker. Things are pretty tight for land brokers at all times, so I doubt they’re leasing on spec and trying to sell it later. They’re almost certainly leasing for a much larger O&G company. It’s an old trick. If the landowners find out they’re taking the lease for a company like Chevron, they’re going to ask for more money. I don’t think you have much leverage, but I’d compare notes with your neighbors. Royalty, bonus, and production costs are all things neighbors should share and discuss. I’d hire a Kansas landman for a flat rate to review your lease. I doubt attorneys in your area would have much knowledge of a lease form. Be very careful with hourly rates. I’ve been burned before. Guy didn’t know shit, and spent 2 weeks researching a bullshit opinion. Just make sure there are lease provisions that requires them to drill. I’d ask for a separate lease tract provision (SLT). It’s cleaner than pughs. I doubt you want to track production at different depths. If they drill, you can monitor production on the state oil and gas site. They should have administrative people that can walk you through it. Basically with SLT, the spacing unit for each well functions as its own lease. If a well doesn’t produce for 60 days to a year, it releases that acreage and you can lease it again. And if they want put anything on your property that isn’t a wellhead, you need to compensated for it. If you can’t use part of your property because of their operations, you need to get paid. Be patient. If they’re wildcatting it might take them the full 5 years to drill. Good luck.
October 30, 20241 yr At $20/acre, there's no downside to holding out. Even if nothing ever comes from the project, its not like you missed out on big $.
October 30, 20241 yr 5 minutes ago, Don Johnson said: At $20/acre, there's no downside to holding out. Even if nothing ever comes from the project, its not like you missed out on big $. Was the landman just gonna pull out his wallet and pay for the lease in cash?
October 30, 20241 yr In McKenzie County, North Dakota we got $4,500/acre for a 160 acre plot, plus 1/5 royalty. 5 year lease. But that’s on the higher end in the Bakken’s better play areas.
October 30, 20241 yr Thanks for the input, definitely looks like we should be looking for more. My dad's going out there next week to talk to some neighbors etc to see if he can get any details of what is standard out there. For reference its 620 acres of pasture/cropland.
October 30, 20241 yr 25 minutes ago, Ted Dantzler said: Thanks for the input, definitely looks like we should be looking for more. My dad's going out there next week to talk to some neighbors etc to see if he can get any details of what is standard out there. For reference its 620 acres of pasture/cropland. Own the minerals on all 620?
October 30, 20241 yr Well, the land our lease(s) is under is situated 50’ - 60’ below the surface of Lake Sakakawea and has been since the 1950s.
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