May 26, 20196 yr 9 hours ago, tx 3 putt said: Might rhyme with h-Exxon H-Exxon CEO said they wanted undeveloped average not PDP in the Delaware, I’m not sure Devon fits that description.
May 26, 20196 yr Exxon wouldn’t merge with Devon, they’d acquire Devon. Exxon is a major. It doesn’t merge. Devon would merge with someone like Marathon or Conoco
May 26, 20196 yr Speaking of Oil Barons, Dallas seasons 2-14 are available on some app called IMDB Freedive. I'm watching it now. Highly recommended. I've heard about Jock's bad assery for years, it's nice to finally see it.
May 26, 20196 yr Any non op investors on here? We are looking at a deal and trying to raise the funds to acquire, quick close, operated assets, ~200 bbls per day, easy low capital upside. Buying on pdp only, PM me for more details and a CA if you are interested. Timing is tight as we are trying to get capital commitment by May 31.
May 26, 20196 yr 7 hours ago, MAUFRAIS said: I’d enjoy reading any shit talk about Parsley anybody wanted to post. Why pray tell?
May 26, 20196 yr Any non op investors on here? We are looking at a deal and trying to raise the funds to acquire, quick close, operated assets, ~200 bbls per day, easy low capital upside. Buying on pdp only, PM me for more details and a CA if you are interested. Timing is tight as we are trying to get capital commitment by May 31. Valuing PDP on PV12? Just curious.
May 27, 20196 yr 23 hours ago, Archer said: H-Exxon CEO said they wanted undeveloped average not PDP in the Delaware, I’m not sure Devon fits that description. Cross Cimarex, Diamondback, and Concho off the list.
May 27, 20196 yr 3 minutes ago, Dr. Beeper said: All of those companies have significant amounts of undeveloped acreage. Yeah, but it is enough for the XOM? Shell buying Endeavor seems inevitable at this point. Edited May 27, 20196 yr by billfromlaketravis
May 29, 20196 yr 1 hour ago, Dr. Beeper said: This downtick better be a blip. It's almost as if the price keeps getting trumped by something larger.
May 29, 20196 yr We were lucky that our Bakken crude sold for $59/bbl this month before the dip. Guess the royalty check will be a bit smaller next month..... if they actually cut one.
May 29, 20196 yr Baseless prediction time: Pioneer and Parsley merge. Daddy Sheffield just took the reigns back at Pioneer, but with the Jr. Sheffield out of the way at Parsley and dad having stepped aside, it looked like it was clearing the way for a merger that wouldn't be based wholly and completely on nepotism (even though that's exactly what it would be).
May 31, 20196 yr Remember when Oil prices were at $65 and everyone was happy and stable. Then Trump happened...again. I member
June 2, 20196 yr Finally my business idea of corn-fracking will take off. You see, instead of planting corn vertically, we'll plant it horizontally. Edited June 2, 20196 yr by Lobo
June 2, 20196 yr 4 minutes ago, tx 3 putt said: Win for farmers I guess given the circumstances MAGA had to give them something, but numerous studies have shown that 100% petroleum gasoline is better for your engine.
June 2, 20196 yr Win for farmers more of a trade off for tanking ethanol credits during his presidency than anything else I’d say. the 2016 dip correlates to him winning the presidency and campaigning on the premise that he’d dismantle the whole ethanol credit program. the subsequent rally was the hope that Grassley/Ernst would reign him in - you can see how effective that was.don’t see how it’ll create any appreciable more demand for ethanol though.
June 2, 20196 yr I'm more frustrated with the proposed coal and nuclear subsidies. You can't push "Freedom Gas" out of one side of your mouth and coal/nuclear subsidies out the other side. Either it's profitable or it's not. Don't prop up dying industries. If you need a back up for the grid, just throw a bunch of already produced coal in cave. I'm an oil and gas guy, but I guess I'm cool with solar. It's not an eyesore and doesn't kill birds like wind. If we can figure out a way to not buy so many solar panels from China, it could be a good thing some day. I hate paying electric bills too. Edited June 2, 20196 yr by billfromlaketravis
June 5, 20196 yr 4 minutes ago, Storm the Field said: Freefall from $63 down to $51 in the span of only 2 weeks. Yeesh. Yep. Got some stocks trading at 2 P/E right now. Unreal how WTI and the stocks have been battered this last month.
June 5, 20196 yr A 4th or 5th straight bad EIA report will tend to do that. It's been over a month of "unexpected" builds.
June 5, 20196 yr I haven't seen the refinery throughput for the last few weeks. This looks like one of those crazy months long setups where the weekly reports are horribly skewed and we're on the precipice of a run of massive drawdowns because of refinery throughput variance.
June 5, 20196 yr Yep. Got some stocks trading at 2 P/E right now. Unreal how WTI and the stocks have been battered this last month. carrizo at 1.75 and DNR at 2.2. You gotta buy, right? Right? RIGHT?
June 5, 20196 yr The SPR dumping 3.8 million bbls in the last month hasn't helped things. https://www.spr.doe.gov/dir/dir.html
June 6, 20196 yr Apparently I should have sold my ESV prior to it dropping to $8 from my (post-split) $35 cost basis. Kee-rist. I gotta pay more attention. That one was in the long term bucket.
June 6, 20196 yr 20 minutes ago, jimmyjazz said: Apparently I should have sold my ESV prior to it dropping to $8 from my (post-split) $35 cost basis. Kee-rist. I gotta pay more attention. That one was in the long term bucket. I had a bunch as well. I sold it at about 15.75 post split after a lot of extreme volatility the days following the split. Glad I did. Not so happy about watching CHK trading in the $1.90’s again. I’m at about 2.88 average on it. Was there a mere 3 weeks ago
June 6, 20196 yr 10 minutes ago, jimmyjazz said: At some point these HAVE to be good buys on plays like ESV, though . . . right? Im at a loss, literally and figuratively. I’d like to think so But fuck. It’s a never ending shit show.
June 6, 20196 yr Just now, Dr. Beeper said: What is the allure of a relatively small British offshore producer? Just the offshore play going forward.
June 6, 20196 yr What is the allure of a relatively small British offshore producer?Well it's a driller not producer but yeah that's not a great market going forward.
June 6, 20196 yr Anyone have any Mid-Cush basis forecast insight now that that has calmed down?It's pretty much back to par.
June 6, 20196 yr Anyone know anything about CGS Operating, LLC. Appears to be a brokerage bunch out of Decatur or possibly Tyler. They are leasing a large block of acreage in far northern Midland Basin in an area that I foolishly thought was out of the unconventional plays. I'm curious who they are leasing for. Looks like they just busted up a small conventional drilling deal we were in the process of putting together. Lovely...
June 7, 20196 yr I'm seeing pain everywhere from my clients, especially in OK and GOM shelf/state waters. If we go into a recession and commodity prices continue to fall it's going to be a f'n bloodbath.
June 7, 20196 yr 30 minutes ago, The Royal We said: I'm seeing pain everywhere from my clients, especially in OK and GOM shelf/state waters. If we go into a recession and commodity prices continue to fall it's going to be a f'n bloodbath. Correct there’s a shit ton of petro chem / refinery / lng expansion in the pipeline and China is the main market
June 7, 20196 yr I've been through a few cycles but this one feels different because of all the changes to the PE model in the E&P space. In past slowdowns there seemed to always be a pile of PE money that was ready to jump in and scoop up deals at depressed prices. But those off-ramps are few and far between - especially in the water. There's going to be a lot of junk that ends up in the state's lap for both LA and TX. It's depressing to think about how many abandoned well bores and facilities are going to be left out there with no operator and no state funds available to P&A/decommission.
June 7, 20196 yr 30 minutes ago, The Royal We said: I've been through a few cycles but this one feels different because of all the changes to the PE model in the E&P space. In past slowdowns there seemed to always be a pile of PE money that was ready to jump in and scoop up deals at depressed prices. But those off-ramps are few and far between - especially in the water. There's going to be a lot of junk that ends up in the state's lap for both LA and TX. It's depressing to think about how many abandoned well bores and facilities are going to be left out there with no operator and no state funds available to P&A/decommission. Well, we are relatively fresh off the last downturn. Everyone who kept their powder dry in '14 and '15 unloaded it all in '16 and '17. I'd be surprised if there was much capital left for M&A in the event of another downturn so quickly after the last one.
June 7, 20196 yr Great point. I do think there is still a decent amount of dry powder in the PE funds, but the lack of available exit strategies has them gun shy. They are going to have to actually build sustainable operating companies instead of drilling a couple dozen wells and flipping it out to someone else.
June 7, 20196 yr 2 hours ago, Dr. Beeper said: I’m bullish on buying conventional PDP because of the valuations (PV15-18). To The Royal We’s point, I wouldn’t be doing it to flip. I’d be building a small operating company. There are assets that cash flow available for 2.5x, 3.0x cash flow. That intrigues me. I’m concerned about price, but, would hedge the hell out of my volume. Y’all poke holes in the strategy. My biggest concern as a small operator would be regulatory changes after 2020 on fugitive methane emissions causing expensive retrofits on existing facilities.
June 7, 20196 yr 30 minutes ago, Dr. Beeper said: I’m looking at a deal now - about to make offer - that literally produces no gas. How volatile is the oil? I see more problems with flash off the Oil tanks than from produced gas.
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