January 5, 20214 yr O&G stocks are up, along with a 4% increase in WTI. Found this interesting read as well: https://oilprice.com/Latest-Energy-News/World-News/Trump-Administration-Finalizes-Alaska-Oil-Drilling-Plan.html I work in offshore (GOM). We're a vessel company on charter with the supermajors. It's been a hell of a year (even the last 3 years have been rough). Hopefully we're turning a corner.
January 5, 20214 yr Saudi personally cutting 1 million on top of the OPEC+ cuts. Guess trying to drown out US producers for the last 6 years didn't work out so well.
January 5, 20214 yr 1 hour ago, Eastwood said: Saudi personally cutting 1 million on top of the OPEC+ cuts. Guess trying to drown out US producers for the last 6 years didn't work out so well. They underestimated the resiliency of US producers while decimating their sovereign wealth fund. It couldn't happen to a nicer group of guys.
January 7, 20214 yr On 1/5/2021 at 2:26 PM, billfromlaketravis said: They underestimated the resiliency of US producers while decimating their sovereign wealth fund. It couldn't happen to a nicer group of guys. Fuck those gilded goatherds.
January 7, 20214 yr Let's keep doing 50 cents a day for the rest of January then put in on cruise control.
January 8, 20214 yr On 1/3/2021 at 5:33 PM, Tex48 said: Do yall think anyone in oil and gas (Upstream, midstream, or downstream idc) is going to do any hiring for engineers this spring? I'm graduating this Spring from Cheme and worked for a pretty well known E&P as an intern before covid cancelled my second internship. I loved the work and don't want to give up on the industry yet. Yeah, there is still going to be plenty of hiring for a long time. Things may change, but they always have been. Oil and gas isn’t disappearing over night or even over the next couple decades.
January 14, 20214 yr Something wrong with the RRC website? I'm only seeing one drilling permit application filed so far this week, which can't be right. There are usually 10-20 filed each weekday, even in the deepest depths of the downturn.
January 14, 20214 yr Something wrong with the RRC website? I'm only seeing one drilling permit application filed so far this week, which can't be right. There are usually 10-20 filed each weekday, even in the deepest depths of the downturn. Technical issues has their Drilling Permit Query out of whack. They are working to fix it.
January 18, 20214 yr On 1/16/2021 at 1:59 PM, Dr. Beeper said: Should last all year but will bumpy along the way. I predict we hit $70 this year. Wish casting or time to start buying buying bass boats in Midland?
January 18, 20214 yr 3 minutes ago, Dr. Beeper said: A little of both. Though I am pretty bullish on crude. Not as much as I was when we were hovering at $40 forever, but I think there’s a good chance we average $55-$60 this year. Works for me. Our VP was openly praying for $40 for much of last year. Edited January 18, 20214 yr by billfromlaketravis
January 18, 20214 yr 50 minutes ago, billfromlaketravis said: Wish casting or time to start buying buying bass boats in Midland? Probably a good idea now that Biden is planning to block Keystone XL.
January 18, 20214 yr I’ve always worked under the impression that oil prices go up when there is a Dem in the White House. No CR.
January 19, 20214 yr Any good O&G podcasts? I'm looking for one that focuses on domestic, onshore E&P.
January 20, 20214 yr Natty been hammered last few days. Discuss. Pretty simple, the fucking weather models keep failing. They show cold & then as we get closer, poof it vanishes. Market giving up on Winter right now. Plenty of freaking gas in storage right now. Sent from my iPhone using Tapatalk
January 21, 20214 yr 52 minutes ago, markstanco said: Keystone pipeline permit cancelled. Chances they pause and finish the pipeline under the next R?
January 21, 20214 yr 22 minutes ago, Dr. Beeper said: It’s shit like this - on Day 1 - that will drive prices higher. Good. My thought too. This is only phase IV and I thought that was mainly to transport Canadian syncrude and oil sands crude down to Nebraska. So it might effect Bakken producers, but I don't think there are takeaway issues there currently anyway, correct?
January 21, 20214 yr 2 hours ago, markstanco said: Keystone pipeline permit cancelled. good, drill west texas and the gulf Edited January 21, 20214 yr by tx 3 putt
January 21, 20214 yr 8 hours ago, The Royal We said: My thought too. This is only phase IV and I thought that was mainly to transport Canadian syncrude and oil sands crude down to Nebraska. So it might effect Bakken producers, but I don't think there are takeaway issues there currently anyway, correct? Canadian oil sands are only profitable at what, $100+ oil right? I'd say economics killed the Keystone XL long ago. Approving or cancelling the permit was a largely symbolic political gesture.
January 21, 20214 yr 35 minutes ago, billfromlaketravis said: Canadian oil sands are only profitable at what, $100+ oil right? I'd say economics killed the Keystone XL long ago. Approving or cancelling the permit was a largely symbolic political gesture. Well you need to take into the account the discount between WTI to western Canada select. More export capacity means a lower discount. The below interactive chart shows how bad it can get sometimes ($40+ difference). https://economicdashboard.alberta.ca/OilPrice
January 21, 20214 yr 41 minutes ago, billfromlaketravis said: Canadian oil sands are only profitable at what, $100+ oil right? I'd say economics killed the Keystone XL long ago. Approving or cancelling the permit was a largely symbolic political gesture. Exactly - it’s a talking point for people that want to scare everyone. And yes, it would lower differentials for oil sands crude, but why do we want to do that again? That process is environmentally destructive af and we are swimming in domestic production.
January 21, 20214 yr 3 minutes ago, The Royal We said: Exactly - it’s a talking point for people that want to scare everyone. And yes, it would lower differentials for oil sands crude, but why do we want to do that again? That process is environmentally destructive af and we are swimming in domestic production. This. It is nasty, nasty business. I know it was developed at a time when the US/Canada were desperate for North American oil, but I'm still shocked the Canadian government approved it.
January 21, 20214 yr 1 minute ago, billfromlaketravis said: This. It is nasty, nasty business. I know it was developed at a time when the US/Canada were desperate for North American oil, but I'm still shocked the Canadian government approved it. Maybe you guys have never been to the heavy oil fields in San Joaquin valley. We are doing the exact same shit in California boys.
January 21, 20214 yr I don't doubt that, but how much new capital is being deployed into the San Joaquin valley fields currently? And that is domestic production, not Canadian.
January 21, 20214 yr Maybe you guys have never been to the heavy oil fields in San Joaquin valley. We are doing the exact same shit in California boys. There is a world of difference between the SJV and Canadian oil sands.
January 21, 20214 yr We own a bunch of minerals in the Bakken, so canceling Keystone phase 4 is good for us. We don't want to compete for pipeline space with any more Canadian oil.
January 21, 20214 yr There is a world of difference between the SJV and Canadian oil sands. I’m curious to know/hear more
January 21, 20214 yr 2 minutes ago, HoustonFrog said: I’m curious to know/hear more For starters, they are in two different countries.
January 21, 20214 yr And so it begins https://www.google.com/amp/s/thehill.com/policy/energy-environment/535224-bidens-interior-dept-temporary-blocks-drilling-on-public-lands%3famp
January 21, 20214 yr I’m curious to know/hear more Well the oil sands are mostly a mining and upgrade refining operation while the heavy oil in California are mainly steam floods.
January 21, 20214 yr 6 hours ago, Lagunamadre said: We own a bunch of minerals in the Bakken, so canceling Keystone phase 4 is good for us. We don't want to compete for pipeline space with any more Canadian oil. Isnt DAPL next on the target list?
January 22, 20214 yr https://www.texasmonthly.com/news/how-the-most-hyped-u-s-oil-merger-in-a-decade-went-bust/
January 22, 20214 yr 4 hours ago, Archer said: And so it begins https://www.google.com/amp/s/thehill.com/policy/energy-environment/535224-bidens-interior-dept-temporary-blocks-drilling-on-public-lands%3famp good, drill west texas, eagle ford and the gulf !
January 22, 20214 yr Within the last few weeks, I've noticed an uptick in Alaska activity. Think this block will affect that?
January 22, 20214 yr 21 hours ago, The Royal We said: My thought too. This is only phase IV and I thought that was mainly to transport Canadian syncrude and oil sands crude down to Nebraska. So it might effect Bakken producers, but I don't think there are takeaway issues there currently anyway, correct? The spread between Bakken crude and WTI has been running about $10/bbl for the past few years. Mostly because of higher transportation costs. Last month’s royalty check from Continental Resources reflected a sales price average of about $37/barrel.
January 22, 20214 yr Are you sure? Today, WTI has hovered around $53 while ND Sweet is $43 & change. Edited January 22, 20214 yr by Armybrat
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