Yeah that doesn't make much sense, there shouldn't be increased gas activity right now. Maybe just playing wells to put into production for winter pricing.
Houston..we have a problem....
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Last: 2 days ago by Ag CPA
From Cyp's posts, his position looks to be bank finance as it relates to M&A. I know a couple guys in the space.
Cyp's got a point - investing in Aggies for the sake of Aggies leading the company isn't investing. Its charity. And I don't go about charity, nor investing, that way. There are some Aggies out there who have made fortunes in OG, as well as some people who continue to light money on fire in very incompetent ways just like a lot of companies over the last ten years in OG. There's a stereotype where the aggie ops guy is needing just a bit more liquidity from the banks or investors keep his oil company profitable. One very big donor to A&M saw his company go through bankruptcy within the last few years. Rough. You see a lot of it on hyenas on energy twitter laughing about 'dumb aggies.' Cyp does show a little even keeled here with his comment about OU landmen. And he is right, those guys are idiots. Straight out of Animal House deans office scene dumb - 'drunk, fat, and stupid is a terrible way to go through life son.'
While Cyp also sees a lot of stupidity and 'stupid aggies' I'm guessing he's seen a lot of smaller M&As. Gonna be a lot of blatant greed and incompetence he sees across his desk in general. Small cap is a management enrichment scheme. From the friends I know who do sit in F500 M&A deals - most of the idiots were weeded out long ago on the corporate ladder. And those in the room usually don't have any negative stereotypes of aggies they deal with compared to any other F500 executive. F500 likes a more refined, intelligent form of greed.
And finally, its been beaten to a pulp on here that PE loves to get AUM, pay themselves handsomely, drill, flow and flip. Just that PE's skin in the game is usually an order of magnitude less than those of the money they take. They get to call the investors suckers when oil's down and the fund's dried up. All snickers and aww shucks while they still get to pay their mortgage..right up until their own shop closes down.
There's a lot of greed in this business, and big business in general. Lets all try to play nice. And today would be a good day to start. OFS just popped 7%+ today folks. This market keeps up and we might get a Christmas party like those operators always talk about.
Cyp's got a point - investing in Aggies for the sake of Aggies leading the company isn't investing. Its charity. And I don't go about charity, nor investing, that way. There are some Aggies out there who have made fortunes in OG, as well as some people who continue to light money on fire in very incompetent ways just like a lot of companies over the last ten years in OG. There's a stereotype where the aggie ops guy is needing just a bit more liquidity from the banks or investors keep his oil company profitable. One very big donor to A&M saw his company go through bankruptcy within the last few years. Rough. You see a lot of it on hyenas on energy twitter laughing about 'dumb aggies.' Cyp does show a little even keeled here with his comment about OU landmen. And he is right, those guys are idiots. Straight out of Animal House deans office scene dumb - 'drunk, fat, and stupid is a terrible way to go through life son.'
While Cyp also sees a lot of stupidity and 'stupid aggies' I'm guessing he's seen a lot of smaller M&As. Gonna be a lot of blatant greed and incompetence he sees across his desk in general. Small cap is a management enrichment scheme. From the friends I know who do sit in F500 M&A deals - most of the idiots were weeded out long ago on the corporate ladder. And those in the room usually don't have any negative stereotypes of aggies they deal with compared to any other F500 executive. F500 likes a more refined, intelligent form of greed.
And finally, its been beaten to a pulp on here that PE loves to get AUM, pay themselves handsomely, drill, flow and flip. Just that PE's skin in the game is usually an order of magnitude less than those of the money they take. They get to call the investors suckers when oil's down and the fund's dried up. All snickers and aww shucks while they still get to pay their mortgage..right up until their own shop closes down.
There's a lot of greed in this business, and big business in general. Lets all try to play nice. And today would be a good day to start. OFS just popped 7%+ today folks. This market keeps up and we might get a Christmas party like those operators always talk about.
Greed, hubris, denial and incompetence are not limited to Aggies in management positions. One thing I will say that I've found Aggies to be a little better with are humility. And being willing to acknowledge where you personally and your business have weaknesses and limitations goes a long way towards helping success down the road.one MEEN Ag said:
From Cyp's posts, his position looks to be bank finance as it relates to M&A. I know a couple guys in the space.
Cyp's got a point - investing in Aggies for the sake of Aggies leading the company isn't investing. Its charity. And I don't go about charity, nor investing, that way. There are some Aggies out there who have made fortunes in OG, as well as some people who continue to light money on fire in very incompetent ways just like a lot of companies over the last ten years in OG. There's a stereotype where the aggie ops guy is needing just a bit more liquidity from the banks or investors keep his oil company profitable. One very big donor to A&M saw his company go through bankruptcy within the last few years. Rough. You see a lot of it on hyenas on energy twitter laughing about 'dumb aggies.' Cyp does show a little even keeled here with his comment about OU landmen. And he is right, those guys are idiots. Straight out of Animal House deans office scene dumb - 'drunk, fat, and stupid is a terrible way to go through life son.'
While Cyp also sees a lot of stupidity and 'stupid aggies' I'm guessing he's seen a lot of smaller M&As. Gonna be a lot of blatant greed and incompetence he sees across his desk in general. Small cap is a management enrichment scheme. From the friends I know who do sit in F500 M&A deals - most of the idiots were weeded out long ago on the corporate ladder. And those in the room usually don't have any negative stereotypes of aggies they deal with compared to any other F500 executive. F500 likes a more refined, intelligent form of greed.
And finally, its been beaten to a pulp on here that PE loves to get AUM, pay themselves handsomely, drill, flow and flip. Just that PE's skin in the game is usually an order of magnitude less than those of the money they take. They get to call the investors suckers when oil's down and the fund's dried up. All snickers and aww shucks while they still get to pay their mortgage..right up until their own shop closes down.
There's a lot of greed in this business, and big business in general. Lets all try to play nice. And today would be a good day to start. OFS just popped 7%+ today folks. This market keeps up and we might get a Christmas party like those operators always talk about.
Let's not forget the stupidity of our friends from Lubbock in this space.
Comeby! said:
Let's not forget the stupidity of our friends from Lubbock in this space.
Like the Double Eagle guys?
My guess is that Cyp is on the PE sponsor side. I have no idea what shop.
Nothing against Cyp, but I think PE has done far more harm to the oil and gas business than good. Most of the problems PE complains about are completely PE induced. PE took oil and gas from a world of bootstrapped independents and publics taking on projects strictly based on risk assessment and a hold case to a world of getting in and out quick and hope you never have to hold an asset. When your goal is a quick flip with OPM, you will take on much larger risk. The portcos and PE shops entire business model is quick flip with OPM.
Nothing against Cyp, but I think PE has done far more harm to the oil and gas business than good. Most of the problems PE complains about are completely PE induced. PE took oil and gas from a world of bootstrapped independents and publics taking on projects strictly based on risk assessment and a hold case to a world of getting in and out quick and hope you never have to hold an asset. When your goal is a quick flip with OPM, you will take on much larger risk. The portcos and PE shops entire business model is quick flip with OPM.
I didn't include Tech landman bc the double eagle boys and the fact they know they're not that smart. The okies think they're smarter than they are bc most live in Oklahoma.
I mainly focus on private E&P and across all debt classes. I've seen it all
I mainly focus on private E&P and across all debt classes. I've seen it all
My only disagreement with Cyp is the constant broad brush approach he takes to shale.
Yes, over development and overpayment for acreage burned a ton of money. In the latter case, it was more of a transfer of money, as some groups literally made their entire firm's relevancy out of their ability to get in and out of the shale market at the right time(s).
Regardless, there are good operators who simply didn't overpay for inventory. There are also operators who used an analytical and technical approach to their development to determine amount of wells/benches.
And there are operators who overpaid and overdeveloped.
Painting with such a broad brush (for example, saying all shale is bad/uneconomic) does nothing to convince anyone; in fact, as you can see in this thread, it actively causes people to completely discount your opinion because of how biased you appear.
Yes, over development and overpayment for acreage burned a ton of money. In the latter case, it was more of a transfer of money, as some groups literally made their entire firm's relevancy out of their ability to get in and out of the shale market at the right time(s).
Regardless, there are good operators who simply didn't overpay for inventory. There are also operators who used an analytical and technical approach to their development to determine amount of wells/benches.
And there are operators who overpaid and overdeveloped.
Painting with such a broad brush (for example, saying all shale is bad/uneconomic) does nothing to convince anyone; in fact, as you can see in this thread, it actively causes people to completely discount your opinion because of how biased you appear.
Marsh said:
My only disagreement with Cyp is the constant broad brush approach he takes to shale.
Yes, over development and overpayment for acreage burned a ton of money. In the latter case, it was more of a transfer of money, as some groups literally made their entire firm's relevancy out of their ability to get in and out of the shale market at the right time(s).
Regardless, there are good operators who simply didn't overpay for inventory. There are also operators who used an analytical and technical approach to their development to determine amount of wells/benches.
And there are operators who overpaid and overdeveloped.
Painting with such a broad brush (for example, saying all shale is bad/uneconomic) does nothing to convince anyone; in fact, as you can see in this thread, it actively causes people to completely discount your opinion because of how biased you appear.
And I didn't even bring up the fault "3rd party" reserve auditors played in the whole debacle by approving overly aggressive pdp values and upside locations/reserves as "proved". I've seen some sell-side investment banks being more conservative than those jokers.
depends on where those rigs are I would guess…MAROON said:
just saw that, with five fewer oil rigs. It's like upside down world
You probably have heard the one about the Aggie Res Engr that got transferred from Texas to Oklahoma and improved the IQ of both states.
Massive fire breaks out at gas production platform off the coast of Mexico, state energy company Pemex said, six workers injured. pic.twitter.com/B9b7PGBTLK
— JaneBond (backup) (@JaneB59275552) July 8, 2023
They are saying 2 dead. I wonder what caused this.
It's Pemex. Generally inept and have to rely on 3rd party operators to wipe their….
I still can't get over the fact that a CEO with ivy league degrees put his uber rider rating on his bio. Is this some sort of industry joke or something I dont understand? Wtf.
Not an industry joke. Just seems to be a joke of a ceo.
Daytona22 said:
Not an industry joke. Just seems to be a joke of a ceo.
GTFO, has zero to do with being a joke of a CEO. Even if legitimately over his head.
Premium said:Daytona22 said:
Not an industry joke. Just seems to be a joke of a ceo.
GTFO, has zero to do with being a joke of a CEO. Even if legitimately over his head.
Seems to have hit a nerve.
My interactions weren't that great. Very arrogant, very pushy, my deal team has been there and done that and the way treated when we were a no a year or so ago left a bad taste.
txaggie_08 said:Premium said:Daytona22 said:
Not an industry joke. Just seems to be a joke of a ceo.
GTFO, has zero to do with being a joke of a CEO. Even if legitimately over his head.
Seems to have hit a nerve.
I must be the CEO, or I am the guy who thinks Leadership culture jokes are okay and welcomed.
LOL at the mouth breathing beliefs that correlation = causation.
Premium said:txaggie_08 said:Premium said:Daytona22 said:
Not an industry joke. Just seems to be a joke of a ceo.
GTFO, has zero to do with being a joke of a CEO. Even if legitimately over his head.
Seems to have hit a nerve.
I must be the CEO, or I am the guy who thinks Leadership culture jokes are okay and welcomed.
LOL at the mouth breathing beliefs that correlation = causation.
CEOs are allowed to make whatever jokes they want. But when they fail they are due criticism. Including on any jokes they made.
This dude cost investors millions.
You're the defensive one, taking up for a random CEO. I'm pretty sure he'll be fine, and doesn't need your white-knighting.
What a very strange storyline developing in this thread
Shale can be value add, I've highlighted companies like Mewbourne etc. that have done it on scale. I've also largely been impressed with the Carnelian portfolio companies etc.
I think my issue with shale is largely the capital allocation requirements which leave balance sheets largely exposed given rapid declines and need to continuously reinvest to maintain production/asset valuations. I think shale pairs well with conventional assets as part of a larger portfolio.
I guess I have fatigue by completion design v20 that will finally deliver that long desired return.
I think my issue with shale is largely the capital allocation requirements which leave balance sheets largely exposed given rapid declines and need to continuously reinvest to maintain production/asset valuations. I think shale pairs well with conventional assets as part of a larger portfolio.
I guess I have fatigue by completion design v20 that will finally deliver that long desired return.
In other news, oil back up a bit to $74
txaggie_08 said:
You're the defensive one, taking up for a random CEO. I'm pretty sure he'll be fine, and doesn't need your white-knighting.
Plenty to fault and blame the guy for and Uber ratings on a profile is a weak attack - yet here we are.
It is weird as hell to list your uber rating on your business profile. Idc if you're this dude or t Boone Pickens, it is weird.
Lol agree.
It's probably a cute inside joke but when you are in charge of millions and millions of investment maybe not the best idea to be so cute publicly…unless you can't lose….and apparently they did.
It's probably a cute inside joke but when you are in charge of millions and millions of investment maybe not the best idea to be so cute publicly…unless you can't lose….and apparently they did.
Sea Speed said:
It is weird as hell to list your uber rating on your business profile. Idc if you're this dude or t Boone Pickens, it is weird.
In a world where big corporations are evil and oil is the devil, its not exactly dumb to try and come off as personable. Especially with execs generalized as arrogant, out of touch dictators by youngsters these days.
I don't know the guy and have no plans making fun of the guy for taking his shot and failing. Lord knows my much lesser shots so far have gone down in flames. But it's more of a reflection on the individual for bagging on the guy for some insignificant good natured humor on a website instead of the capital he lit on fire and the jobs he destroyed at a time the industry could really use it.
Pretty arrogant guy
Well the arrogance and jokes sure fall flat when you lose people's money. Maybe stick to being a professional. Keep the jokes for friends on the weekend. Honestly I would never invest with someone who made clever jokes on their profile. I invest with the smartest. Tell me why you are that. I go to comedy clubs or Netflix if I need a laugh.
It's a website that tells you nothing other than the management team. Has nothing to do with a pitch to PE.
I used to work at a private credit shop, and most of the time we would take bios directly from company websites and paste in our pitches. So I would assume it would be related to pitches with PE.
It's gotten spicy in here lately, and I'm all for it.
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