Anyone have a clue on how long companies like oxy, Energen, concho etc.. Are hedged for I keep hearing these companies are fine due to their hedges but obviously that can't last forever.

Crude up near $51. $100 by 4th of July! Everyone go buy a Rolex and some jet skis!

What's the next resistance to break through?

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Crude up near $51. $100 by 4th of July! Everyone go buy a Rolex and some jet skis!

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where are you seeing 51? i see 49.50 on bloomberg

Maybe a delayed quote?

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No i meant the land guys weren't employees so weren't announced as layoffs

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Yeah, you won't see news of field brokers (landmen) being let go. Their mostly just under contract and picked up and let go all of the time. There have been a lot of field landmen already losing their jobs.

I was at one time a field guy, but luckily got in-house almost 5 years ago.

Here is real-time crude and brent, Ragoo.

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We had enterprise wide cuts, 33 in our division about half engineers.

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Keep your head down buddy

hit 60 and all is well!

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Here is real-time crude and brent, Ragoo.

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much appreciated

guys, we've gotta quit talking about it, we made it fall again... 48.79 but in that link i noticed we did break 51 for a brief moment

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No i meant the land guys weren't employees so weren't announced as layoffs

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Yeah, you won't see news of field brokers (landmen) being let go. Their mostly just under contract and picked up and let go all of the time. There have been a lot of field landmen already losing their jobs.

I was at one time a field guy, but luckily got in-house almost 5 years ago.

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Same here.

These companies have to have a consultant or going through a market maker hedging them. I mean if you are a shale producer at $50 per barrel cost why would you not sell 2015 or 2016 $95 or $100 oil? At least half or whatever. Enough to prop up profits to $75 if the price crashes to $50 for that year and work on becoming more and more efficient. But when it's been above $80 for years I guess u get greedy and not want to miss out on $150's.

So I work for an executive search firm in Houston that focuses on investment banking. Within that, we do alot of A&D (acquisitions and divestitures) recruiting for several banks. IBs are still hiring and it'll be a decent year in A&D as companies that are over leveraged are going to have to sell, etc.

That said - if you, or someone you know, live in Houston and are either a geologist or reservoir engineer with some kind of new ventures, BD, or A&D experience, then I can potentially help.

**Please note this is not some snake oil salemesman/recruiter pitch. I just know there are a lot of layoffs happening and I want to try and help out some fellow Ags if I can.**

Ok - carry on.

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These companies have to have a consultant or going through a market maker hedging them. I mean if you are a shale producer at $50 per barrel cost why would you not sell 2015 or 2016 $95 or $100 oil? At least half or whatever. Enough to prop up profits to $75 if the price crashes to $50 for that year and work on becoming more and more efficient. But when it's been above $80 for years I guess u get greedy and not want to miss out on $150's.

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Because you would have had to pay a lot of money for $95 or $100 puts. There was a lot of backwardation in futures when oil was at $100 in the front month.

So we are redoing the 2015 budget again. Normally we have 4-5 versions. We are on "official" version 10 or so. In a typical year the budget is finalized in October for the next year.

So much uncertainty in prices is causing lots of stomach churning on the finance side.

We're on our 4th budget cycle too.

Regarding the natural gas question earlier, here's some good news from fuelfix. Associated gas will decline as we slow in drilling these shale wells, but you do have improving infrastructure in Marcellus and the Bakken, so I guess you'd have to see which outruns the other. You've also got GE and Mitsu manufacturing gas turbines about as quickly as they can for the power sector. Can't go anywhere but up, right?

http://fuelfix.com/blog/2015/01/15/natural-gas-draws-larger-than-expected/

Schlumberger increases their dividend.....


http://www.cnbc.com/id/102341973#.

Hey, nothing else to do with the cash, right?

Ouch http://oilpro.com/post/9729/oil-service-leader-schlumberger-cuts-9000-jobs-just-got-real

Even the short covering rallies apparently can't last over a day. I rarely see charts this sick. You would expect at least a strong reflex rally after such a decline.

Expect another wave down if it cracks $44.

Increase the dividend and fire 9,000 people. Interesting world we live in.

Va valio verga...

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Increase the dividend and fire 9,000 people. Interesting world we live in.

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It is the right thing to do for the shareholders. They had almost 6 billion in fcf last year. Probjects aren't viable, so return some of that cash to the shareholders.

Shows good mgmt.

I didn't say it wasn't the right and legal thing to do. Just strange to read.

Typical publicly traded company. Need to prop up stock price in hard economic times, cut costs (layoffs) and buy off shareholders

Yeah the best thing to do was to use it to pay people to do nothing until the oil goes up and they can put them to work again.

You speak as if oil going up in the near future is a certainty.

Schlumberger is a business, not a charity. They've got a fiduciary duty to do what's best for the shareholders. Keeping people on the payroll for something that may or may not happen within a few years is irresponsible.

Is it heartless and cold? Absolutely. That's business.

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Yeah the best thing to do was to use it to pay people to do nothing until the oil goes up and they can put them to work again.

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Wait wut?

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Increase the dividend and fire 9,000 people. Interesting world we live in.

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It is the right thing to do for the shareholders. They had almost 6 billion in fcf last year. Probjects aren't viable, so return some of that cash to the shareholders.

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Is a dividend increase sustainable if cash flow is going to be problem? Doesn't make sense. Shouldn't they be saving that cash to buy competitors for pennies on the dollar?

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Increase the dividend and fire 9,000 people. Interesting world we live in.

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It is the right thing to do for the shareholders. They had almost 6 billion in fcf last year. Probjects aren't viable, so return some of that cash to the shareholders.

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Is a dividend increase sustainable if cash flow is going to be problem? Doesn't make sense. Shouldn't they be saving that cash to buy competitors for pennies on the dollar?

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as cheap as credit is, it would probably be better to finance any acquisitions with debt.

The bond and 2nd lien market dried up. Not much capital our there unless you're PE.

Pretty sure some of y'all's sarcasm meters are off.

In regards to jj's comment. Not sure if he was serious.