https://www.reuters.com/business/energy/diamondback-energy-ceo-stice-step-down-2025-02-20/

A year on the board, and then riding off into the sunset. Seems Stice wanted to leave his lasting legacy by acquiring EER.

Will be interesting to see where Kaes takes it from here.

Anyone know who Civitas bought this from?

Civitas Resources is buying Midland Basin locations in a $300 million bolt-on acquisition from an undisclosed seller, deepening its Permian inventory by about a year.

The transaction adds 19,000 net acres and approximately 130 future Midland Basin development locations, based on 2-mile average laterals,
Civitas said the deal adds future drilling locations in primary zones like the Wolfcamp A, B and D.

I believe it was Oxy.

It was part of the OXY/Crownrock stuff in glasscock/howard

CIVI close to selling their DJ assets too I hear

Anybody know who's demethanizer tower got folding up like aluminum foil in the Pecos Train Collision?

More good news for Chevron, although I fully expect this gets reversed in the coming days.

https://www.politico.com/news/2025/02/26/trump-reverses-biden-era-concessions-allowing-venezuela-oil-exports-00206273

Weird, you'd think Trump would love Chevron offshoring 20% of their staff.

Furlock Bones said:

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BP CEO wants to double the size of the company. Slashing green spending from 5B down to 1B but Elliott Management wants them to cut all green spending. This will be interesting to see play out.

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Merging BP and Shell would pretty much do it...

Caliber said:

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Furlock Bones said:

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BP CEO wants to double the size of the company. Slashing green spending from 5B down to 1B but Elliott Management wants them to cut all green spending. This will be interesting to see play out.

---

Merging BP and Shell would pretty much do it...

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As a SHEL employee, I've been hit up about 10 times on this rumor in the last month

Caliber said:

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Furlock Bones said:

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BP CEO wants to double the size of the company. Slashing green spending from 5B down to 1B but Elliott Management wants them to cut all green spending. This will be interesting to see play out.

---

Merging BP and Shell would pretty much do it...

---

Without giving up any personal details, I know a person at BP that has moved up the ranks quite a bit. Said this is the first time he feels like there is real possibility this happens. This is about the only combo that would be palatable to UK regulators and position the new company up there with Chevron/Exxon.

Shell CEO is in New York in late March so I'd expect to hear something there if it would happen

OPEC+ says they are going through with production increases in April.

damn it. we're running out of people to lay off

cajunaggie08 said:

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damn it. we're running out of people to lay off

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sad truth. industry is taking body blow after body blow.

cajunaggie08 said:

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damn it. we're running out of people to lay off

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As I've been on record as saying... If OPEC+ adds a material amount of bbls, it's hard not to see more layoffs and pain on the horizon. Throw in a Federal induced recession, and it's not looking pretty over the next year for the industry IMO.

I think it depends . I can see that for sure on the service side. On the operator side, I'm not sure. Depends on the operator but most are already stretched thin and at critical mass. Any less and there will be balls dropped. I can understand technical folks if rigs will be dropped. It would take the consolidation or elimination of operators to see a dressing headcount reduction, which is already happening or has happened. The entire industry can't all move to minerals or Nonop companies. Someone has to operate.

Furlock Bones said:

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Caliber said:

---

Furlock Bones said:

---

BP CEO wants to double the size of the company. Slashing green spending from 5B down to 1B but Elliott Management wants them to cut all green spending. This will be interesting to see play out.

---

Merging BP and Shell would pretty much do it...

---

Without giving up any personal details, I know a person at BP that has moved up the ranks quite a bit. Said this is the first time he feels like there is real possibility this happens. This is about the only combo that would be palatable to UK regulators and position the new company up there with Chevron/Exxon.

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Been hearing about the Shell/bp merger for 12 years, including someone on this thread guaranteeing it would be completed last year.

Charlie Murphy said:

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Furlock Bones said:

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Caliber said:

---

Furlock Bones said:

---

BP CEO wants to double the size of the company. Slashing green spending from 5B down to 1B but Elliott Management wants them to cut all green spending. This will be interesting to see play out.

---

Merging BP and Shell would pretty much do it...

---

Without giving up any personal details, I know a person at BP that has moved up the ranks quite a bit. Said this is the first time he feels like there is real possibility this happens. This is about the only combo that would be palatable to UK regulators and position the new company up there with Chevron/Exxon.

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Been hearing about the Shell/bp merger for 12 years, including someone on this thread guaranteeing it would be completed last year.

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oh i am well aware. i was just relaying that this was the first time a particular individual there at the company thought it could happen. the likelihood that it doesn't happen is greater than it does.

We have people now in the gov't who think a refinery/wellhead/plant is like a server farm and that we just need like 5 people running it offsite. So we can probably go ahead cut more from the staff.

And if something comes up, we just spool up a contractor. We can on-board them in a few days, right? The plant/wellhead/refinery can wait a few days if there is an emergency, right? Or we can waive the training, right?

(/s if you can't quit tell)

~egon

Or, they believe that a refinery and a production facility are basically the same. For instance, they mirrored the flare and leak standards from refineries onto upstream in their latest run at the industry. Just absolute winners in DC.