Guess i missed the headline last week, but just saw Steve Keenan resigned from APA? Alpine Low take its toll?

One thing matters for apache. Suriname. We may get a preview tomorrow. What I hear about what they were asking for in their CA is promising, but the resignation of the head geologist is terrible so we will see which way it goes.

Whats the latest on Waha differentials? Is there relief in sight?

Comeby! said:

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Whats the latest on Waha differentials? Is there relief in sight?

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Hub Name
Price
Change
Differential

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Waha
0.82
0.29
-1.85

Encana changing its name to Ovintiv, moving headquarters to US.

Wonder how much they paid Mckinsey to come up with all of that.

Cyp0111 said:

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Wonder how much they paid Mckinsey to come up with all of that.

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Sounds like a new blockbuster pharmaceutical. "Side effects of Ovintiv may include...."

Anybody ever had any experience with Inpex? Just got some Division Orders from them for Eagle Ford drilling in Karnes County. Looks like they are a Japanese company that bought acreage from Gulftex. I had never heard of them before.

Waha will potentially get crushed again throughout 2020. No infrastructure relief in sight with the KM PHP project getting delayed until early 2021

That's what I wanted to know. Thank you!
I know some of the pipelines were delayed but didn't know how bad was bad.

Drillbit4 said:

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Encana changing its name to Ovintiv, moving headquarters to US.

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Perfect name for that dog of a company.

Ovintiv

Talk to your doctor if you experience ill timed acquisitions, ,non economic Canadian acreage, too much debt or a tsip ceo.

I used to think equinor was the worst but then Ovintiv comes along.

There's a good reason for the move as for the name, there are plenty to go around.

Quote:

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Waha will potentially get crushed again throughout 2020. No infrastructure relief in sight with the KM PHP project getting delayed until early 2021

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PHP has started construction on 1 of 5 spreads. Two of the other spreads are mobilized.

Goose06 said:

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Callon + Carrizo makes for a pretty attractive core Delaware position. If it were a better market I'd guess they would sell the eagleford stuff, but I'm not sure there's a buyer.

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Just heard that ISS released their recommendations for the shareholder proposals released and set for vote on 11/14. Apparently they recommended to vote FOR for CRZO shareholders, and to vote AGAINST for CPE shareholders. Will be interesting to watch over the next week or so.

Gorgon 2.0

Chevron now forcasting 25% cost overrun on Kazak project.

And just like Gorgon (and almost every other MCP), it won't matter...

They will be lucky to finish with only 25% cost overrun. I suspect it will end up close to 100% over budget.

Has GSO been discussed yet?

Comeby! said:

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Has GSO been discussed yet?

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Geo southern or GSO more broadly? I heard Geosouthern lost well control on a couple flowbacks and then caught fire at surface and had a massive fire for 6 or 8 weeks and ultimately lost 4 haynesville wells.

Kool said:

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Anybody ever had any experience with Inpex? Just got some Division Orders from them for Eagle Ford drilling in Karnes County. Looks like they are a Japanese company that bought acreage from Gulftex. I had never heard of them before.

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I am only familiar with Inpex in Indonesia several years ago. They were operating over there. They are backed by Japanese money. Like most Japanese companies not many in the organization are all that familiar with oilfield/drilling operations. Generally good people to work with on a project.

Equinor
Enverus
Ovintiv
Andeavor
TC Energy

Lotta terrible name changes lately, but I think Ovintiv is the worst by a comfortable margin.

Geo southern. Heard they've RDMO'ed.

Comeby! said:

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Geo southern. Heard they've RDMO'ed.

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Of what? Haynesville, Chalk, everything?

Heard Apache was doing 10-15% workforce reduction

My understanding was everything. Sent several home and locked the doors. This is from a recruiter who got slammed by people looking for gigs.

Comeby! said:

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My understanding was everything. Sent several home and locked the doors. This is from a recruiter who got slammed by people looking for gigs.

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Interesting. They still running that rig in Fayette County?

How is Weatherford still working if they're bankrupt?

Comeby! said:

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Geo southern. Heard they've RDMO'ed.

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What is RDMO? I have a friend there, hadnt heard anything about them closing up shop.

My bad on the emoticon

Rig Down Move Out

At least it isn't as bad as Kashagan which estimates are as much as 100% over budget because of ENI's ineptness. When I was in Kaz I heard a story about Kashagan that they had developed everything and built out everything including the pipeline to shore for desulpherization, and when they started production, the pipeline to shore started to leak because they hadn't specc'd it for sour service. I don't know about Kashagan but Tengiz oil comes out of the ground at 17% H2S. They had two long pipelines for 1.1 million BPD they had to replace. And that was the easy stuff to fix. There have been estimates that total development cost was $111 billion.

SidetrackAg said:

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How is Weatherford still working if they're bankrupt?

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Chapter 11 is a restructuring bankruptcy. They continue operations, seek creditors and restructure debt. Keeping operations keeps cash flowing in, even if it's negative cash flow, its better than doing nothing while trying to turn the company around.

A Swiss bank lended Weatherford 250 million to keep the lights on in exchange for 99% of Weatherford stock. They haven't turned a profit in any quarter since 2014. I don't know what this bank saw in Weatherford.

Not true. They have five rigs running in the Haynesville.