Houston..we have a problem....

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ChemAg15
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In reply to Ogre09 • 8:14p, 6/12/23
AG
Ogre09 said:
Yordaddy said:
Industry thoughts on Targa Resources (TRGP)?


Enterprise and Oneok pay better dividends if you're looking at investing


ET divy is 9.75%
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Boat Shoes
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7:07a, 6/13/23
AG
https://www.hartenergy.com/exclusives/exclusive-mesquite-sells-eagle-fords-catarina-ranch-private-ep-205404
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sts7049
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7:30a, 6/13/23
AG
one of shell's big unconventionals duds changes hands again
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Ogre09
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In reply to ChemAg15 • 9:50a, 6/13/23
AG
ChemAg15 said:
Ogre09 said:
Yordaddy said:
Industry thoughts on Targa Resources (TRGP)?


Enterprise and Oneok pay better dividends if you're looking at investing


ET divy is 9.75%

May have to add those guys
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htxag09
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11:05a, 6/13/23
AG
WSJ: Oil-Field-Services Companies Hold Merger Talks: NexTier Oilfield Solutions and Patterson-UTI Energy discuss deal that would create bigger player in consolidating industry
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Cyp0111
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11:20a, 6/13/23
OFS still the worst business on earth
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one MEEN Ag
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In reply to Cyp0111 • 12:31p, 6/13/23
AG
Cyp0111 said:
OFS still the worst business on earth
Yes. Now please sign off on these drilling rate increases.
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Cyp0111
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In reply to one MEEN Ag • 3:09p, 6/13/23
I'm on the capital side so guess this is true too
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joemeister
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8:14a, 6/14/23
AG
Who green lit "UTI" as part of a company name?
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TheVarian
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In reply to joemeister • 8:47a, 6/14/23
AG
Ha, our initials are T.I.T.
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Dreigh
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11:45a, 6/16/23
I'll be pleasantly surprised if TI closes Friday above $70. In June.

This is what it's come to.
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Furlock Bones
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In reply to TheVarian • 12:53p, 6/19/23
AG
does your company name end in Terminals? and based on the coast?
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TheVarian
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In reply to Furlock Bones • 1:15p, 6/19/23
AG
Maybeeee
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Furlock Bones
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In reply to TheVarian • 7:58a, 6/20/23
AG
i used to do business at that terminal. been a few years. drove by a couple of weeks ago, and it has really grown up.
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Furlock Bones
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7:58a, 6/20/23
AG
Civitas buys Tap Rock Delaware assets and Hibernia Midland assets. $4.7B

https://www.reuters.com/markets/deals/civitas-resources-buy-permian-assets-ngp-energy-47-bln-2023-06-20/
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Sea Speed
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In reply to Furlock Bones • 8:03a, 6/20/23
AG
Furlock Bones said:
i used to do business at that terminal. been a few years. drove by a couple of weeks ago, and it has really grown up.


Ain't that the truth. Good for that part of the world. Id love to see more port facilities in that area but not sure there is much more room to grow without some insane projects. I'm based just across the channel.
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TheVarian
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In reply to Sea Speed • 8:13a, 6/20/23
AG
It is a good time, in the least year we've double in size, not only people but properties too. Have a pipeline now going from Texas City to the terminal as well. Pretty wild.

I too wish there were more folks down here in this business but it's tough with the 10 feet we got to work with
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Sea Speed
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In reply to TheVarian • 8:20a, 6/20/23
AG
TheVarian said:
It is a good time, in the least year we've double in size, not only people but properties too. Have a pipeline now going from Texas City to the terminal as well. Pretty wild.

I too wish there were more folks down here in this business but it's tough with the 10 feet we got to work with


Yea and sabine is BOOMING and expanding like crazy as well. One of my best friends is a pilot in your area so I try to stay abreast of the comings and goings of the port through him. I was supposed to ride a ship in to your facility a while back but timing didn't work out.

What are yall doing with that pipeline? Using it for export or import? How much has that increased the annual tonnage at your facility? Can you fit aframax vessels?
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Furlock Bones
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In reply to TheVarian • 8:35a, 6/20/23
AG
i heard about the pipeline from one of my old coworkers that's with you guys now. that's big boy stuff.
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Owen Kellogg
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In reply to Furlock Bones • 8:38a, 6/20/23
AG
Furlock Bones said:
Civitas buys Tap Rock Delaware assets and Hibernia Midland assets. $4.7B

https://www.reuters.com/markets/deals/civitas-resources-buy-permian-assets-ngp-energy-47-bln-2023-06-20/

Another Denver based O&G company bites the dust!
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BrokeAssAggie
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In reply to Owen Kellogg • 8:40a, 6/20/23
They weren't going to be around long anyway. So not sure I would call it "biting the dust"
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Cyp0111
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8:43a, 6/20/23
I'm not sure what the total rig count was for the Tap Rock guys but they had to be high single digits. Imagine this will take additional rigs off the market as they were one of the more active PE backed portcos.
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Birdbear
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In reply to Cyp0111 • 8:51a, 6/20/23
AG
Cyp0111 said:
I'm not sure what the total rig count was for the Tap Rock guys but they had to be high single digits. Imagine this will take additional rigs off the market as they were one of the more active PE backed portcos.


Looks like they're running 4 currently. I also thought it would be more
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Cyp0111
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In reply to Birdbear • 8:53a, 6/20/23
Imagine they've been dropping while going through the sales process. If memory serves me, they were high single digits last year but not positive.
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MAROON
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In reply to Owen Kellogg • 8:54a, 6/20/23
AG
Denver company is the one doing the acquisition
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Owen Kellogg
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In reply to MAROON • 9:06a, 6/20/23
AG
Civitas and Tap Rock are both Denver based.
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TheVarian
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In reply to Furlock Bones • 10:06a, 6/20/23
AG
It's going to be fun, I was brought in as the buyer for it and it's been interesting to see the small side of the business compared to where I was prior. (200+mile 42" lines)
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redaszag99
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In reply to TheVarian • 10:37a, 6/20/23
Do you need an I&E contractor?

I just bid the tie in with your pipeline to Magellan in Texas City
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TheVarian
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In reply to redaszag99 • 10:43a, 6/20/23
AG
What is your email?
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redaszag99
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12:36p, 6/20/23
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TheVarian
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In reply to redaszag99 • 12:45p, 6/20/23
AG
Got it
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txaggie_08
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5:34a, 6/22/23
AG
https://www-forbes-com.cdn.ampproject.org/c/s/www.forbes.com/sites/davidblackmon/2023/06/10/us-shale-is-slowing-down-due-to-factors-beyond-its-control/amp/

Quote:
The U.S. shale industry is slowing down, and a recovery during the rest of 2023 seems increasingly unlikely due to a variety of factors beyond anyone's control.

From its' January 14 peak, the Enverus Daily Count of active North American drilling rigs has now fallen by 20%. Baker Hughes said Friday its own weekly rig count has dropped six straight weeks. One week could be a blip; two straight might be a coincidence; but six straight weeks is definitely a trend.
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Dreigh
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1:21p, 6/22/23
Anyone here understand the rhyme or reason behind the mammoth EIA adjustments in recent weekly reports? Seems like total BS.
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Cyp0111
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1:30p, 6/22/23
blending is my guess. People need to continue to stack rigs. The US/Western Europe is letting Iran export a lot more crude right now. Demand is holding up but this looks to be supply related.
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one MEEN Ag
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In reply to Dreigh • 8:25a, 6/23/23
AG
Dreigh said:
Anyone here understand the rhyme or reason behind the mammoth EIA adjustments in recent weekly reports? Seems like total BS.
The EIA has claimed they are most limited in counting condensate barrels that are blended back into usable heavier crude.

Your shale plays already have a very light API gravity, and they are becoming lighter and lighter. The EIA are supposedly trying to fix this in a future update to their calculations. Their director got on twitter a couple months ago announcing this when it looked like the EIA was playing right into the governments desires to suppress oil prices.

Personally no insight into the EIA but I assume they have the same dynamic as any other government agency. The technical staff are doing the best they can with what they have access to and always want better data. The leadership and those who cut their paychecks know that EIA data is a driver in keeping oil prices down right now and would describe these adjustments as a feature not a bug.

I expect the EIA to have a roll out and fully functioning new counting methods ready to go 3 months after the next election.
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