Offshore contractors continue to hemorrhage. EMAS is in death throes. Bibby will almost certainly close up shop everywhere but maybe for diving in U.K.
Houston..we have a problem....
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Last: 3 hrs ago by TxAg20
Cepe said:
You guys have time and money to go to a conference? Hope nobody notices back at work!
For a conference that is worthwhile and has historically produced a return? Yes, absolutely.
So who's out in Midland? Just accepted a new job out there, looks like I'm moving from Houston to Midland in a couple of weeks....
Congrats, man! Is it new, or something you were doing before?
API reported 14.2 Million crude build. 2.9mm gas.
If we get a bad EIA report tomorrow, hold on to your butts.
If we get a bad EIA report tomorrow, hold on to your butts.
aggies12thman said:
API reported 14.2 Million crude build. 2.9mm gas.
If we get a bad EIA report tomorrow, hold on to your butts.
For someone new to the industry, can you explain what this means?
Obviously OPEC is doing great with their production cuts...
This means that inventories built by that amount. Generally an indicator of Supply and demand balance (or lack thereof)... Price could see a downward shock. But generally the shok is already felt (see the 2.5% drop this afternoon)Spaceship said:aggies12thman said:
API reported 14.2 Million crude build. 2.9mm gas.
If we get a bad EIA report tomorrow, hold on to your butts.
For someone new to the industry, can you explain what this means?
Buck Compton said:This means that inventories built by that amount. Generally an indicator of Supply and demand balance (or lack thereof)... Price could see a downward shock. But generally the shok is already felt (see the 2.5% drop this afternoon)Spaceship said:aggies12thman said:
API reported 14.2 Million crude build. 2.9mm gas.
If we get a bad EIA report tomorrow, hold on to your butts.
For someone new to the industry, can you explain what this means?
Thanks
Parsley buying double eagle (which recently purchased Veritas I believe)
Geez, I know an exec that just went over there.....$$$$$$Goose06 said:
Parsley buying double eagle (which recently purchased Veritas I believe)
The have spent A LOt in the last 6 months. Wish I could get in over there.
Buck Compton said:This means that inventories built by that amount. Generally an indicator of Supply and demand balance (or lack thereof)... Price could see a downward shock. But generally the shok is already felt (see the 2.5% drop this afternoon)Spaceship said:aggies12thman said:
API reported 14.2 Million crude build. 2.9mm gas.
If we get a bad EIA report tomorrow, hold on to your butts.
For someone new to the industry, can you explain what this means?
Jan was a bad month for gas/diesel sales even for it being a January. I'm not expecting anything positive until gas is in full blend down mode.
No joke, they are growing like crazy. They have been good to work with in my dealings with them. I have several friends over there.
I need to post the results of this quarter's price predictions, but I'm not either. International demand isn't going to absorb domestic production and then the Fed is going to bump rates in late March to put even more downward pressure.AgLiving06 said:Buck Compton said:This means that inventories built by that amount. Generally an indicator of Supply and demand balance (or lack thereof)... Price could see a downward shock. But generally the shok is already felt (see the 2.5% drop this afternoon)Spaceship said:aggies12thman said:
API reported 14.2 Million crude build. 2.9mm gas.
If we get a bad EIA report tomorrow, hold on to your butts.
For someone new to the industry, can you explain what this means?
Jan was a bad month for gas/diesel sales even for it being a January. I'm not expecting anything positive until gas is in full blend down mode.
lol. i screwed that one up. old acquisition.
That doesn't appear to include the Veritas acreage in Martin and Howard counties. I'm guessing double eagle has another buyer for that? Maybe encana or endeavor?
let's try this.
http://www.parsleyenergy.com/investor-relations/news-releases/2017/02-07-2017-210646387.aspx
http://www.parsleyenergy.com/investor-relations/news-releases/2017/02-07-2017-210646387.aspx
Quote:
Acquisition HighlightsPro Forma Company Highlights
- Approximately 71,000 net leasehold acres
- Estimated net production of approximately 3,600 Boe per day as of January 1, 2017
- 23 drilled uncompleted wells, variously targeting the Lower Spraberry, Middle Spraberry, Wolfcamp A, and Wolfcamp B formations, with an average lateral length of approximately 8,400 feet, valued at approximately $75-100 MM in aggregate
- Approximately 3,300 net horizontal drilling locations, including approximately 1,800 net locations in high priority target intervals (Lower Spraberry, Wolfcamp A, Wolfcamp B)
- Average lateral length of approximately 6,600 feet on acquired horizontal drilling locations; more than 40% of acquired horizontal drilling locations have lateral lengths of 7,500 feet or more
- Operating control on 80% of net horizontal drilling locations
- Incremental value potential through ongoing acreage trades, bolt-on acquisitions, and working interest buyouts; Double Eagle to assist with asset operation and handoff, as well as acreage trades and purchases after closing
- Consideration consists of approximately $1.4 billion of cash and approximately 39.4 million units of Parsley Energy, LLC (together with a corresponding number of shares of Parsley Energy class B common stock) valued at approximately $1.4 billion; Parsley intends to finance the cash portion of the consideration through equity and debt offerings announced concurrently with the acquisition
- Scheduled to close on or before April 20, 2017, subject to the satisfaction of customary closing conditions
- Approximately 227,000 net leasehold acres in the Permian Basin
- Approximately 179,000 net leasehold acres in the Midland Basin, representing the second-largest Midland Basin net acreage position among publicly traded E&P companies
- Approximately 7,900 net horizontal drilling locations, including approximately 4,300 net locations in well delineated, high value target intervals (Wolfcamp A, Wolfcamp B, and Lower Spraberry in the Midland Basin; Upper Wolfcamp in the Southern Delaware Basin)
- Sufficient acreage footprint to support more than 20 rigs focused on horizontal development
Here's the map I've seen floating. If that doesn't include Veritas' Martin and Howard acreage, I'd be surprised.
I think Parsley quoted 6,600' average lateral length. Makes me wonder if they used a cutoff on the long end or if they threw a bunch of 20,000' laterals in the mix to get the average up.
That map is different from the one above my last post and I agree, it includes the Veritas acreage
Goose06 said:
That map is different from the one above my last post and I agree, it includes the Veritas acreage
Yea I farked up on the original post. Lo siento.
Parsley killin it
New company, did it before. Water Management company, starting their Saltwater Disposal division for them.
In case anyone hasn't seen, EIA reported an inventory build of 13.8 million... but a .9 million drawdown in gas.aggies12thman said:
API reported 14.2 Million crude build. 2.9mm gas.
If we get a bad EIA report tomorrow, hold on to your butts.
So naturally, the price went up immediately after this...
Data proving out that the US is the marginal producer and is going to fill gaps where OPEC cuts cause price increases. Price has a pretty tight ceiling until a demand dynamic significantly changes.
A slight short term positive is several refineries have had some upsets that should help stabilize the Chicago Indexes which have been in a freefall for a while now.
mts6175 said:
So who's out in Midland? Just accepted a new job out there, looks like I'm moving from Houston to Midland in a couple of weeks....
Here here. Welcome to West Texas!
Anyone out there hiring NACE inspectors? I got a family member looking
Send them north. There are a few inspection outfits up here. Have him look up Bowman Inspection.
"IEA monthly report..bullish (WTI $53/bbl) OPEC cuts are real. Jan'17 down 1mmbpd m/m. The "OPEC always cheats" crowd can take a seat. Demand is rocking. 2016 revised higher.again. +1.6mmbpd y/y and 2017 revised to +1.4mmbpd y/y (vs. TPHe ~1mmbpd). OECD stocks are falling.even before the OPEC cuts took effect in Jan'17. Dec'16 OECD stocks down (36mmbbls) vs. (30mmbbls) norm and are below the IEA's made up "symbolic" 3billion bbl level. 4Q16 inventories down (72mmbbls) vs. (57mmbbls) norm. Stay tuned. 2017 will be fun. "
From TPH
From TPH
MROD92 said:
Anyone out there hiring NACE inspectors? I got a family member looking
My company almost always is. (It's offshore work.) send me a message
Cyprian,
Sorry I don't have DM. Would you mind emailing me at ?Thanks for the help
Sorry I don't have DM. Would you mind emailing me at ?Thanks for the help
I thought this article had a good hypothesis on production responding more quickly and that this could be from DUCs.
http://oilprice.com/Energy/Energy-General/Will-Rising-US-Production-Drive-OPEC-Into-A-Corner.html
http://oilprice.com/Energy/Energy-General/Will-Rising-US-Production-Drive-OPEC-Into-A-Corner.html
No problem, you've got mail.
I think you'll see prices hover in the mid $50's for most of the first half of 2017. I don't expect prices to hit $60 until the end of the year or early next year. The rig count is up, 591, but a far cry from the numbers in 2013/2014 where they reached 1000+. OPEC cuts are in full compliance, for the most part at around 93%, with production targets at 29.888 million bpd in January.
Initial opec compliance...
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