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Houston..we have a problem....

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BrokeAssAggie
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9:40a, 7/26/23
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AgLA06
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In reply to BrokeAssAggie • 11:08a, 7/26/23
AG
We're also a month away from average gasoline usage falling.
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ChemAg15
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7:55a, 7/27/23
AG
$80
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BrokeAssAggie
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In reply to ChemAg15 • 8:38a, 7/27/23
ChemAg15 said:
$80
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one MEEN Ag
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11:02a, 7/28/23
AG
This better stick around. My investment account needs two strong quarters of dividends to offset my stock price losses.

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CPDAggie10
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5:49p, 7/28/23
AG
Anyone hearing about equipment fabricator KWI closing their doors? We had a few pieces of equipment on order with them and received a call today from the sales guy we work with and he told me they filed Chapter 11 and furloughed/terminated a lot of the staff this week.

Wondering what will happen with the equipment I have on order.
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MAROON
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In reply to CPDAggie10 • 5:52p, 7/28/23
AG
CPDAggie10 said:
Anyone hearing about equipment fabricator KWI closing their doors? We had a few pieces of equipment on order with them and received a call today from the sales guy we work with and he told me they filed Chapter 11 and furloughed/terminated a lot of the staff this week.

Wondering what will happen with the equipment I have on order.
Chapter 11 is not "closing their doors". That would be Chapter 7. Eleven is restructuring - stiffing the unsecured creditors and enriching the lawyers.
What do you boys want for breakfast BBQ ?.....OK Chili.
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BCG Disciple
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In reply to CPDAggie10 • 6:26p, 7/28/23
AG
CPDAggie10 said:
Anyone hearing about equipment fabricator KWI closing their doors? We had a few pieces of equipment on order with them and received a call today from the sales guy we work with and he told me they filed Chapter 11 and furloughed/terminated a lot of the staff this week.

Wondering what will happen with the equipment I have on order.

They owe my co about $20k. I have heard they had a buyer/restructure tabbed and we're doing ch 11, but I heard today that they officially part ways with all employees and are likely going ch 7. This is all industry rumor mongering, so not sure on the technical truth. Not sure how you go bankrupt in this market, but they have been clawing their way out for at least 3 years.
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CPDAggie10
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In reply to MAROON • 6:38p, 7/28/23
AG
Yeah I was thinking the same thing, he told me Ch. 11 over the phone and i thought well that is a re-structure not a liquidation. But just now sent me a text with more information and it looks like it is Chapter 7
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MAROON
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In reply to CPDAggie10 • 6:43p, 7/28/23
AG
Wow. That means they tried to arrange DIP Financing and the bankers said no, and they couldn't find a buyer. Seems like a pretty established business.
What do you boys want for breakfast BBQ ?.....OK Chili.
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MAROON
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In reply to CPDAggie10 • 6:47p, 7/28/23
AG
Is this KW International that has an HQ in Houston, with a plant they built in Columbus at I-10/Hwy71
What do you boys want for breakfast BBQ ?.....OK Chili.
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CPDAggie10
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In reply to MAROON • 7:04p, 7/28/23
AG
MAROON said:
Is this KW International that has an HQ in Houston, with a plant they built in Columbus at I-10/Hwy71

Yes. They have that huge shop on 71 right outside of Columbus
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MAROON
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In reply to CPDAggie10 • 7:06p, 7/28/23
AG
Dang - it seems like they just built that shop in the last 10 years or so. Probably the issue - too much debt to build that place.
What do you boys want for breakfast BBQ ?.....OK Chili.
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MAROON
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7:09p, 7/28/23
AG
They actually filed chapter 11 on June 6th. Converted to Chapter 7 today.


What do you boys want for breakfast BBQ ?.....OK Chili.
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MavsAg
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9:02a, 7/31/23
AG
Over $81 to start the week. We back?
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Furlock Bones
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In reply to MavsAg • 9:04a, 7/31/23
AG
structurally we are set to run up pretty good over the next year. which probably means, something will come in and crush the market.
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BrokeAssAggie
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In reply to MavsAg • 9:16a, 7/31/23
MavsAg said:
Over $81 to start the week. We back?


Let's see if it can stay above $80 for more than a week this time.
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Sims
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In reply to CPDAggie10 • 10:07a, 7/31/23
AG
CPDAggie10 said:
Anyone hearing about equipment fabricator KWI closing their doors? We had a few pieces of equipment on order with them and received a call today from the sales guy we work with and he told me they filed Chapter 11 and furloughed/terminated a lot of the staff this week.

Wondering what will happen with the equipment I have on order.
We got several calls last week looking at backstop equipment in limbo so you're not the only one scrambling.

We don't make any stock skids/vessels and we're about 28 - 32 weeks out on new orders so we didn't have a lot of good news for the callers.
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Cyp0111
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In reply to Furlock Bones • 10:46a, 7/31/23
I've been pretty wrong over the past 18 months so agree with this. China has a lot of SPR they can release to keep a lid on prices and keeping the Saudi cuts through end of year will help drive down.

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DripAG08
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10:48a, 7/31/23
AG
$80 is the new $100

Happy with the eight handle right now!
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Dreigh
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11:50a, 7/31/23
Could be a sizable crude draw reported this week, I hope EIA doesn't totally adjust it out of their numbers.
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CPDAggie10
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8:37p, 7/31/23
AG
Been a good run up. Our finance bros put on some more hedges today.

I'm still bullish that we go $90 by EOY
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Farmer1906
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8:58p, 7/31/23
AG
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tremble
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In reply to Cyp0111 • 9:06p, 7/31/23
AG
China's been pretty smart about filling their SPR this year when pricing was low.
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Furlock Bones
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6:38a, 8/1/23
AG
Polaris Operating LLC files for ch 11 bankruptcy
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Cyp0111
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In reply to Furlock Bones • 9:36a, 8/1/23
They operate in the Panhandle?
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Furlock Bones
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In reply to Cyp0111 • 10:37a, 8/1/23
AG
Yep
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BrokeAssAggie
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11:10a, 8/1/23
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Cyp0111
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In reply to Furlock Bones • 4:23p, 8/1/23
is Amarillo National Bank the lender on that one ? If so, those boys have had a really tough last 60 days
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Gig-Em2003
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In reply to Cyp0111 • 4:30p, 8/1/23
AG
What else was ANB a part of that went south?
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MAROON
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4:31p, 8/1/23
AG
another one I just heard about today - White Oak Resources IV has gone Chapter 7 (Filed in mid July)

A couple of Aggies run White Oak
What do you boys want for breakfast BBQ ?.....OK Chili.
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BrokeAssAggie
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4:40p, 8/1/23
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BCG Disciple
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4:46p, 8/1/23
AG
Why is this such a massive drawing? Filling SPR?
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jetch17
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In reply to MAROON • 5:06p, 8/1/23
AG
MAROON said:
another one I just heard about today - White Oak Resources IV has gone Chapter 7 (Filed in mid July)

A couple of Aggies run White Oak


Figured that was coming - some geos and others I know have been bailing … they've been shopping conventional gulf coast for years to little avail
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txaggie_08
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In reply to BCG Disciple • 5:17p, 8/1/23
AG
BCG Disciple said:
Why is this such a massive drawing? Filling SPR?

Nope. This administration refuses to refill SPR:

https://finance.yahoo.com/news/us-spurns-another-round-offers-211600394.html

Quote:
The Biden administration is again delaying a replenishment of the nation's emergency oil reserve after deciding the offers it received were too expensive, according to people familiar with the matter. The decision comes as oil prices have rallied above $80 a barrel.



https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Balloon-On-Largest-Single-Week-Crude-Inventory-Crash-In-Years.html

Quote:
On Monday, the Department of Energy (DoE) reported no change for the third week in a row to the inventory held in the Strategic Petroleum Reserve (SPR) in the week ending July 28, with the SPR inventory still sitting at a 40-year low of 346.8 million barrels.
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