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Anyone going to NAPE?

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Won't that just be one big pity party

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Anyone going to NAPE?

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ill be down there.

I will be at NAPE

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Anyone going to NAPE?

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Won't that just be one big pity party

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that'll be OTC

I plan to be there. Should be interesting to see the general mood. I'd bet it's still heavily attended. Lots of folks will be looking to network now more than ever.

I'm heading to NAPE as well.

Initial API report shows build of 11.4 mm bbls

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Initial API report shows build of 11.4 mm bbls

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Hypothetically, what price ranges would justify shutting in production on conventional (<10 years old) vs unconventional oil wells? (Taking into account electricity/disposal costs/lease operating exp. etc./diminished well performance)

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That would depend a lot on the leases. Many of them require an actual lack of market to sell the product rather than just a price you don't like. You also have to take into account that a lot of leases have a set amount of time you can pay shut-ins. Once you use it up, it's not available again if you need it.

Oil back down $1

I'll be at NAPE on the 10th and 11th.

Nape

that's insane that the saudis gave away $32B in bonuses to their employees. I can't even imagine our government having $700B in cash reserves. The crazy thing is that Apple alone has $200B in "cash reserves", which i believe is still more than the US government has.

Apple would probably have to pay 100 billion in taxes to bring their cash reserves back into the US to give us all bonuses though... Looks like it won't be happening :-(

I think this is a pretty fair assessment but it doesn't help anybody this year. Could be some better times ahead in 2-3 years if we can make it through though.

http://oilprice.com/Energy/Oil-Prices/Only-Recession-Can-Prevent-An-Oil-Price-Spike.html

"Many smart people thought U.S. oil production would fall off a cliff along with the crash in crude prices. In reality, it hasn't even come close to killing American production. The U.S. pumped 9.35 million barrels of oil a day in October 2015, according to the latest government statistics available. That's up from 9.13 million barrels in October 2014."

http://money.cnn.com/2016/01/26/investing/us-oil-boom-not-dead/

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I think this is a pretty fair assessment but it doesn't help anybody this year. Could be some better times ahead in 2-3 years if we can make it through though.

http://oilprice.com/Energy/Oil-Prices/Only-Recession-Can-Prevent-An-Oil-Price-Spike.html

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During a CNN interview this week T. Boone predicted that oil prices will double by the end of the year ($60 by end of 2016). Nobody can predict the market, but let's see if old T. Boone is right one more time.

Harold Hamm had a similar sentiment when he liquidated all of CLR's hedges in 2014.

T Boone is very good at this.

http://www.latimes.com/science/la-me-porter-ranch-greenhouse-20160124-story.html

"Experts say the release of so much methane, a fast-acting greenhouse gas many times more powerful than carbon dioxide, means that the biggest environmental consequence of the leak will be its effect in boosting global warming. Long after the leak stops and the foul odors vanish, the pulse of methane will remain in the atmosphere and its damage to the climate will go on....So far, estimates show the leak has put out the equivalent of 2.1 million metric tons of carbon dioxide more greenhouse gas than 440,000 cars emit in a year. Because the surge of pollution is in the form of methane, it will have a more immediate heat-trapping effect on the atmosphere."

"Earlier this month the gas company abandoned a plan to capture and burn the leaking methane after regulators raised concerns about safety and explosion risk."

How do you spell *******? Clearly like this: r-e-g-u-l-a-t-o-r-s.

Safety my ass, where are the Red Adair's of this generation? You're telling me that Boots & Coots can't get this mofo pinched off. Absurd!

They did the same thing with Macondo.

From figures in that article, the leak started at about 120 mcf per day and is currently down to about 60 mcfd.

For reference purposes, the ocean floor adjacent to Santa Barbara County, California releases about the same amount of methane per day, with an additional 80,000 bbls of oil per year.

You always listen to someone like T Boone that has a lot of experience and a successful track record but nobody can predict the future with 100% accuracy of any type of market. He was on CNBC several times early last year calling for oil to get back to $100. He had the same thought that was prevailing - fracing well production would drop quickly in the second half of the year. You still want to pay attention to what he says now, though.

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Pickens had been wrong more many more times in the last decade than he's been right.

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Pickens lost Mesa, the company he built from the ground up into the nation's largest independent producer, due to long bets on natural gas in the 70s and 80s. He did very well with Mesa early on and on his natural gas bets at BP Capital in the late '00s. Otherwise, he's spent a lot more time destroying capital.

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Pickens had been wrong more many more times in the last decade than he's been right.

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Last January I had a somewhat heated discussion with Pickens at a political event where he was telling all that the drop in crude was just temp and will return to near $100/bbl by the end of the year. I understand that he is a wildly successful oil man BUT I was amazed at how little he seemed to understand about the global drop in demand and the lack of any underlying mechanism for demand to recover. He seemed to lack ANY understanding of the offshore side of the biddness and really didn't want to discuss only to pontificate.

Based on his recent track record on the prognosticating gig I think I would take anything he says with a HUGE grain of salt.

Yeah, seems like he is bullish at all times. And who can forget the ill-fated "Pickens Plan"?

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(DENVER) In town for the Democratic convention to promote his "Pickens Plan" for alternative energy, billionaire oilman T. Boone Pickens predicted $200 a barrel oil within three years.

"In two or three years, we're going to be at $200 a barrel -- could be $300 a barrel for oil," Pickens said inside the "Big Tent," a complex outside the Pepsi Center set up for bloggers. "And consequently, our economy is going to struggle and our security is justit's a disaster."

Pickens was joined on stage by Sierra Club president Carl Pope and Center for American Progress president John Podesta, both of whom endorsed The Pickens Plan, although each called for additional proposals.

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http://www.cbsnews.com/news/t-boone-pickens-predicts-200-a-barrel-oil/

Any way to get a NAPE attendee pass without having to pay the $300+ fee? I think this will be my first year.

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Reuters Business @ReutersBiz 30m30 minutes ago

BREAKING: Russia's Transneft says Russia and OPEC will discuss possible output cuts -TASS

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Get on with it so people can stop worrying about getting laid off please.