52wk low for PXD today.

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52wk low for PXD today.

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I'm about to double down.

O&G getting crushed this morning. 52 week lows everywhere, what gives? Finally feeling Iran deal or people selling off in anticipation of q2 earnings?

I'm averaging my position down.

My 3 O&G holdings are COP, CLB, and FENY. Brutal on all of them. All in retirement accounts...hoping they're back to even in the next 25 years.

I'm sorry but stuff like this ^^ cracks me up.

Hearing from multiple sources that COP will be divesting all of its non producing GOM leases.

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Hearing from multiple sources that COP will be divesting all of its non producing GOM leases.

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I'm hearing that COP will have "cuts the likes you have never seen before" coming by end of Q3. Heard pieces of the above also.

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I'm sorry but stuff like this ^^ cracks me up.

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I'm curious to know what you mean by this.

http://fuelfix.com/blog/2015/07/16/conocophillips-to-scale-back-deep-water-exploration-and-gulf-of-mexico-programs/#34117101=0

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The move will require ConocoPhillips to pay Ensco monthly termination fees equal to the about $550,000-per-day operating rate for two years, according to a statement from Ensco. Those fees could be reduced if Ensco is able to re-contract the rig within that time period.

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Looks like we are gonna test $50.00 today.

Oof.

US crude dips below $50 for first time since April 6

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Gotta be Lewis. They are fairly integrated and probably own their own frac spreads. Lewis is mostly on the dry gas side of the EF.

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I don't know how much they might have divested but as of last fall they owned 3 frac spreads and i believe 12 drilling rigs. as well as several WL trucks and workover rigs. they basically had an in house service company built up to where they didn't have to go outside in order to run their operation. They even own(ed) their own sand mine. I worked a partnership with them and we used to joke that "If we use something more than twice, Rod is going to start looking at buying one"

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Hearing from multiple sources that COP will be divesting all of its non producing GOM leases.

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I'm hearing that COP will have "cuts the likes you have never seen before" coming by end of Q3. Heard pieces of the above also.

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Heard the same from a friend at cop. Said it'll be at least as bad as the spring cuts. And to think I was pissed that I didn't get the job I interviewed there for last spring.

Just read an article/opinion piece on Reuters saying COP's dwindling ambitions may make it a target for other integrated O&Gs.

Not linking because it is a pay article.

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From what I understand, cost of transportation the west coast makes Long Beach a dying bet...GOM is apparently what is being bet on. Goldman Sachs was doubling down on the area.

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That is good for Texas if so

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Just read an article/opinion piece on Reuters saying COP's dwindling ambitions may make it a target for other integrated O&Gs.

Not linking because it is a pay article.

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I think someone should offer $100/share for them.

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I'm sorry but stuff like this ^^ cracks me up.

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I'm curious to know what you mean by this.

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Me too

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I'm sorry but stuff like this ^^ cracks me up.

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I'm curious to know what you mean by this.

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Me too

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I think he means the idea of parking your money in a dead stock to only break even after 25 years when you can use that money for better things. I don't know if it's worth cracking up about though.

He has a point then

I worked for COP for right at 20 years. No faith in their leadership at all after the Burlington purchase.

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I'm sorry but stuff like this ^^ cracks me up.

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I'm curious to know what you mean by this.

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Me too

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I think he means the idea of parking your money in a dead stock to only break even after 25 years when you can use that money for better things. I don't know if it's worth cracking up about though.

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Dead stock is a judgement call. Even then there's a time aspect to this.

Shell thinks were 5+ Years before oil prices recover Read Here

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Shell thinks were 5+ Years before oil prices recover Read Here

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I ought to call their marketing group up and see if I can get a few swaps.

What is the recover price?? Technically the recover price can be anything above the low. Does he mean WTI being at $100+/bbl? Just more rambling to me.

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Shell thinks were 5+ Years before oil prices recover Read Here

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Is there another article? The one linked doesn't say that, or has the article been changed?

Am I reading this right? Halliburton is getting into the E&P game?

Halliburton secures $500 million to fund drilling in old wells

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What is the recover price?? Technically the recover price can be anything above the low. Does he mean WTI being at $100+/bbl? Just more rambling to me.

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Exactly. I don't think he is unreasonable, but it all depends on what he counts as "recovered". This time next year I think we are still below $60-$65. By end of 2016 I think we could get to a sustained $75-$80. Beyond that I have no idea. I have this thought that oil is going to trade in the next 10 years in a narrow band, almost what natural gas does. Higher prices almost immediately result in an increase in supply, dropping it right back down. Since 2009 gas has never been about $6, and rarely above $5. That's a big change over the preceding era. Oil may now be in a similar era with the advancement in fracking technology allowing new supply to rapidly hit the market with any price increase. I could easily see the $60-$80 range becoming the new norm.

No, Halliburton is providing financial assistance to get people to use more Halliburton services. It's like GM offering 0% financing to get people to buy more SUV's.

its a very poorly written article.

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No, Halliburton is providing financial assistance to get people to use more Halliburton services. It's like GM offering 0% financing to get people to buy more SUV's.

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Took a trip to SE New Mexico last week with family and passed multiple Halliburton field offices that looked to be overflowing with idle equipment.

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Shell thinks were 5+ Years before oil prices recover Read Here

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Is there another article? The one linked doesn't say that, or has the article been changed?

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Correct, the article actually talks about the effect of the O&G business on the economy but not the O&G business as far as a time frame of recovery.

That article is terribly written, they are going to offer cash/funding strapped operators in good acreage the financing for developing a refrac program. This will help with cash flow, as well as upping the value of their acreage.