June 8, 20205 yr 5 hours ago, DCA_HORN said: On 6/6/2020 at 11:49 AM, TexanTraveling said: anybody have thoughts or opinions on the future of Sanchez Energy? Besides run away? Their office space will soon be for rent
June 8, 20205 yr 17 minutes ago, tx 3 putt said: Their office space will soon be for rent 1 hour ago, Dr. Beeper said: Lulz. Yeah, my opinion is somewhere down the road they’ll have a 3rd BK. 5 hours ago, DCA_HORN said: On 6/6/2020 at 11:49 AM, TexanTraveling said: anybody have thoughts or opinions on the future of Sanchez Energy? Besides run away? No chance they would be bought out or that the restructure might work?
June 9, 20205 yr BOD, C-suite, and ExMngmt regret to inform you that no one knows more about the assets that than they do. Their experience with bankruptcy. Their relationship with the rank and file. They’d be willing to stay onboard for a small COLA and pittance in retention bonus. Surely the shareholders will see the value!
June 9, 20205 yr 6 hours ago, Llano Estacado said: BOD, C-suite, and ExMngmt regret to inform you that no one knows more about the assets that than they do. Their experience with bankruptcy.
June 9, 20205 yr Chesapeake shares halted pending news. Edit: Rumor is Chapter 11 Edited June 9, 20205 yr by Eastwood
June 10, 20205 yr Not that I have the wherewithal to do it, but looks like the last week or so some of the easiest money you could ever make would be wait for the WTI contract to get pushed down -1.5 - 2.0%, buy it and sell when it recovers the losses back to its previous close. Rinse, repeat, make bank / get ass.
June 11, 20205 yr Every deal I'm seeing is massively overvalued with ridiculously optimistic type curves. So, business as usual.
June 11, 20205 yr 16 minutes ago, Dr. Beeper said: So easy in hindsight. Hell, you can make even more with it down 8% today, this is a fucking gift. Time to put the kids' college funds all in on /CL with leverage. And yes, I'm joking. Things work until they don't. Today they don't.
June 11, 20205 yr 2 hours ago, stone oak said: Every deal I'm seeing is massively overvalued with ridiculously optimistic type curves. So, business as usual. Sounds like people haven't capitulated, yet.
June 11, 20205 yr Every deal I'm seeing is massively overvalued with ridiculously optimistic type curves. So, business as usual.Let me guess 1.8 b factors and Dmin of 4?
June 11, 20205 yr Sounds like people haven't capitulated, yet.Captualtion will come one way or another in the fall.
June 11, 20205 yr 3 minutes ago, DCA_HORN said: 3 hours ago, stone oak said: Every deal I'm seeing is massively overvalued with ridiculously optimistic type curves. So, business as usual. Let me guess 1.8 b factors and Dmin of 4? Pretty freaking close...marketed EURs nearly cut in half after we ran through them. Yikes.
June 11, 20205 yr Cut in half from pre-February estimates or cut in half from estimates made after the brunt of the crash was known?
June 11, 20205 yr I think he means regardless of price the EUR was cut in half with reasonable assumptions.
June 12, 20205 yr 19 minutes ago, Dr. Beeper said: EUR should be irrelevant to the price crash. I was just trying to get a feel on whether bullshit production numbers were coming down from previous peaks now that info is out that they were all, well what was the word I used... yeah, bullshit. If companies are still putting out bullshit EUR and people are still falling for it, then investors have no one to blame but themselves. Thankfully in stone oak's case he is actually providing sound due diligence. Just wonder if others woke up and are enlisting the help of those like him or if they still fly blind to the crap projections trotted out by those that drill for stock certificates?
June 12, 20205 yr EUR should be irrelevant to the price crash. Yes there's a difference between eur and economic barrels. In our world these things matter.
June 15, 20205 yr https://www.reuters.com/article/us-bp-writeoffs/bp-to-take-up-to-17-5-billion-writedown-lowers-oil-outlook-idUSKBN23M0QA#:~:text=LONDON (Reuters) - BP (BP.&text=As a result%2C BP will,after tax%2C the company said. Quote LONDON (Reuters) - BP (BP.L) will write off up to $17.5 billion from the value of its assets after cutting its long-term oil and gas price forecasts, betting the COVID-19 crisis will cast a lasting chill on energy demand and accelerate a shift away from fossil fuels. Like its rivals, the British oil major is set to take a big hit to revenue from an unprecedented collapse in oil demand due to the pandemic. The impairments are set to raise its debt burden sharply and increase pressure to reduce its dividend. The move comes as Chief Executive Bernard Looney prepares to outline his strategy in September to “reinvent” BP including a reduced focus on oil and gas and a larger renewables business. BP lowered its benchmark Brent oil price forecasts to an average of $55 a barrel until 2050, down by around 30% from previous assumptions of $70. The outlook is the lowest among Europe's top energy companies, according to Barclays research That's going to sting a little
June 15, 20205 yr Extraction up here in Denver filed for Bankruptcy https://finance.yahoo.com/news/extraction-oil-gas-files-bankruptcy-080637452.html
June 15, 20205 yr 1 hour ago, OilChuck said: Extraction up here in Denver filed for Bankruptcy https://finance.yahoo.com/news/extraction-oil-gas-files-bankruptcy-080637452.html Extraction Oil & Gas Inc. plans to pay 16 executives and senior managers a total of $6.7 million in return for staying with the Colorado-based driller ahead of a possible default on its bond payments. Rank-and-file employees may receive a cash payment equivalent to their target 2020 pay, the Denver-based company said in a statement Thursday. The payments will help “maintain the stability and cohesion of our workforce,” it said.
June 15, 20205 yr On 5/29/2020 at 1:34 PM, Storm the Field said: Another 17 rigs dropped this week, breaking even further into record low territory. Down to 301 total. 103 below the previous low set in late May 2016. 11th straight weekly decline for a cumulative 492 rigs laid down since the first Friday of March 2020. I'll throw out a wild guess that the first two reports in June will show another ~25 down before hitting a bottom at ~275. The next few weeks after that will show only minor fluctuations <7 up or down. Pretty accurate so far. First week of June reported another 17 down, and then just 5 dropped last week. Current count is 279.
June 15, 20205 yr Tucking the $17.5 Billion away in Switzerland & Panama before Big Oil collapses long term?
June 15, 20205 yr 2 hours ago, 52-80 said: what do you mean they write it off? The accounting entry was something like this: DR: Impairment Expense CR: Assets Hence Expenses are increased and Assets are decreased (they go poof)
June 15, 20205 yr Fuel demand still gradually recovering. Also, 544K travelers went through TSA checkpoints yesterday. While that's still ~75% below normal (2.6M+ flew on the 2nd Sunday of June 2019), it's the most people that have flown in a single day since March 21 (first full weekend of quarantine).
June 15, 20205 yr 9 minutes ago, Francisco 2.0 said: 'Hydrocarbons that can never be burnt' is my new band name.
June 15, 20205 yr 1) “will” and “can” are 2 different things. 2) while I won’t encourage my kids to find work in O&G, I don’t see how/why historically low prices would cause a global shift away from hydrocarbons.3)Over supply, low consumption, and the resulting sustained low commodity prices may be hell on shitco and a huge hit to the majors for the next year(s), but demand isn’t going to zero and someone will own and produce the assets at their break-even prices.
June 16, 20205 yr Motiva Port Arthur laying off 200. They'll easily hit that number just pushing out the 65+ crowd, hell 70+ crowd https://www.12newsnow.com/article/news/local/power-city/layoffs-economic-impact-heading-toward-port-arthur-as-covid-19-pandemic-continues/502-0a97c5b2-540a-4f74-910a-af7e8ca351db?fbclid=IwAR0K41HrhKFYZU9qa2rD3eTCs4372monjc8hvvxVQzM2LBcTvLCzbvHy6Bs
June 16, 20205 yr Rumor mill swirling about CHK filing for BK on Thursday. Franklin Resources will possibly be managing the assets after.
June 16, 20205 yr IEA thinks supply and demand have already reached equilibrium and that consistent inventory draw-downs will begin in very near future.
June 16, 20205 yr Sounds like $OXY employees are going to get their 30% salary reductions back starting July 1.
June 16, 20205 yr So are we at peak oil demand? Before the recent unpleasantness, driven miles were trending down, fuel economy was trending up, and apparently Tesla was fixin' to conquer the World. I know demand is bouncing off of the crash 2 months ago, but will it ever climb back to where it was?
June 16, 20205 yr 38 minutes ago, Dr. Beeper said: I think I’m closing on my little piddly deal Friday or early next week. $2MM. PV10 of $3.2MM. A lot of low hanging fruit. Very little P&A. I’m so excited. I’m so excited. I’m so.... scared. Good luck getting it over the finish line, I know you've wanted to do something like this for quite some time. Are you going to hedge or nah?
June 16, 20205 yr 1 hour ago, Dr. Beeper said: I don’t know the situation, but, that seems silly given we are in a very precarious price environment. Has anything that OXY's done in the last year made any sense?
June 16, 20205 yr 1 hour ago, Dr. Beeper said: I think you have me confused with someone else, maybe,
June 16, 20205 yr I think I’m closing on my little piddly deal Friday or early next week. $2MM. PV10 of $3.2MM. A lot of low hanging fruit. Very little P&A. I’m so excited. I’m so excited. I’m so.... scared. Overall PV10 value or is that just for the PDP piece of it? Of course it depends on the assets, but for the larger deals I come across very little value is given for PUDs and Possibles.
June 16, 20205 yr 2 hours ago, Parliament said: So are we at peak oil demand? Before the recent unpleasantness, driven miles were trending down, fuel economy was trending up, and apparently Tesla was fixin' to conquer the World. I know demand is bouncing off of the crash 2 months ago, but will it ever climb back to where it was? No one knows shit. Pick as side. Pour a drink. And place your bets
June 16, 20205 yr 3 hours ago, Parliament said: So are we at peak oil demand? Before the recent unpleasantness, driven miles were trending down, fuel economy was trending up, and apparently Tesla was fixin' to conquer the World. I know demand is bouncing off of the crash 2 months ago, but will it ever climb back to where it was? Yes
June 17, 20205 yr So are we at peak oil demand? Before the recent unpleasantness, driven miles were trending down, fuel economy was trending up, and apparently Tesla was fixin' to conquer the World. I know demand is bouncing off of the crash 2 months ago, but will it ever climb back to where it was?Will populations continue to grow and will third world countries continue to develop?
June 17, 20205 yr I think I’m closing on my little piddly deal Friday or early next week. $2MM. PV10 of $3.2MM. A lot of low hanging fruit. Very little P&A. I’m so excited. I’m so excited. I’m so.... scared. If you're not scared, there's not enough meat on the bone.
June 17, 20205 yr I don’t follow. Maybe you meant if I’m scared there’s not enough meat on the bone?Meat=opportunity, but it also means risk.
June 17, 20205 yr I know what it means. I don’t think you meant to say “not” scared. No, i said what i meant. Read it again.
June 17, 20205 yr I'm gonna say. If you are in oil and gas or chemicals right now. No matter how safe you think your job is. If you don't have a backup plan. You might be a fool
June 17, 20205 yr 14 minutes ago, FartingMonk said: I'm gonna say. If you are in oil and gas or chemicals right now. No matter how safe you think your job is. If you don't have a backup plan. You might be a fool always ive lost count of the dips and crashes since I graduated in 97. you better have at least 6 months pay put away if you want to last in this business, and be prepared to stretch that if needed.
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