You really don't have a Journal subscription? I figured everyone still had one of those...sts7049 said:
is there a link to an article not behind a paywall?
jbanda said:
Thoughts?
http://www.cnbc.com/2017/03/20/four-charts-make-the-case-that-crude-oil-has-bottomed.html
Where at?Skillet Shot said:
Anyone looking to hire a 3 year operations engineer with drilling, completions and production experience?
jbanda said:
Thoughts?
http://www.cnbc.com/2017/03/20/four-charts-make-the-case-that-crude-oil-has-bottomed.html
Quote:
Something similar looks like it's unfolding right now that could take the oil price back above $50 and then maybe as high as $55. So definitely like what we're seeing here, for at least a short- to intermediate-term trade and maybe a little longer
I'll be there, and we'll have a booth.Goose06 said:
Who all plans to be at DUG Permian in a few weeks?
It all hangs on the non-OPEC producers. They agreed to a 1.8 million barrel cut and have just about reached that goal. There has been talk that the demand for crude was expected rise faster than they thought to an average of about 1.2 million per day. Compiling all these numbers and getting accurate information is like trying to predict just how much the market will go up or down.1876er said:jbanda said:
Thoughts?
http://www.cnbc.com/2017/03/20/four-charts-make-the-case-that-crude-oil-has-bottomed.html
Doubtful. It's more likely that the Saudis flood the market and drive the price down. They have shouldered almost the entire production cuts and haven't even put a dent in storage quantities. They aren't going to make any additional cuts while the rest of OPEC maintains their current levels.
was going to, but it coincides with AAPG annual convention in HoustonGoose06 said:
Who all plans to be at DUG Permian in a few weeks?
The Permian is killing the Saudi's....nu awlins ag said:It all hangs on the non-OPEC producers. They agreed to a 1.8 million barrel cut and have just about reached that goal. There has been talk that the demand for crude was expected rise faster than they thought to an average of about 1.2 million per day. Compiling all these numbers and getting accurate information is like trying to predict just how much the market will go up or down.1876er said:jbanda said:
Thoughts?
http://www.cnbc.com/2017/03/20/four-charts-make-the-case-that-crude-oil-has-bottomed.html
Doubtful. It's more likely that the Saudis flood the market and drive the price down. They have shouldered almost the entire production cuts and haven't even put a dent in storage quantities. They aren't going to make any additional cuts while the rest of OPEC maintains their current levels.
IMO there is no "normal" in O&G. Every time there's a boom everyone thinks they've seen the last bust, every time there's a bust everyone thinks they've seen the last boom. Sooner or later the current rock bottom CapEx is going to lead to a supply crunch or a hurricane tears up the Gulf and we're back at >$100/bbl and people are wondering if it'll ever be worth less than $80/bbl again. Rinse, repeat.jamey said:
So oil is now around $47 a barrel
Do you guys in the industry expect this to be the new normal?
Anyone care to estimate a near and long term trading range?
austinaggie2012 said:
Comeby,
I am your guy. All our assets are concentrated in the Central Midland Basin and Haynesville/CV/Travis Peak. Send me a PM and I think I can point you in the right direction.
nu awlins ag said:It all hangs on the non-OPEC producers. They agreed to a 1.8 million barrel cut and have just about reached that goal. There has been talk that the demand for crude was expected rise faster than they thought to an average of about 1.2 million per day. Compiling all these numbers and getting accurate information is like trying to predict just how much the market will go up or down.1876er said:jbanda said:
Thoughts?
http://www.cnbc.com/2017/03/20/four-charts-make-the-case-that-crude-oil-has-bottomed.html
Doubtful. It's more likely that the Saudis flood the market and drive the price down. They have shouldered almost the entire production cuts and haven't even put a dent in storage quantities. They aren't going to make any additional cuts while the rest of OPEC maintains their current levels.
jetch17 said:was going to, but it coincides with AAPG annual convention in HoustonGoose06 said:
Who all plans to be at DUG Permian in a few weeks?
Saudi can, but would they?jake2011 said:
If you don't think Saudi could flood the market with oil again and cause the price to drop then you are too optimistic. Not to mention that the developed world is due for a recession (currently second longest recovery in US) which would hurt oil demand. Another significant decline in oil prices would hurt the US shale producers. Not saying it will happen but a double dip in oil prices could definitely happen coinciding with a recession in the U.S.
Maybe they meant:nu awlins ag said:
US Bank Jefferies said that the market is undersupplied and if OPEC did extend cuts past June, draw down inventories would take place and the price could hit $60 by the end of the year. Very confusing, because in one sentence, the US is producing more adding to the supply thus driving down prices AS WELL they are saying the production cuts are working to bring the price up. Does not make a whole lot of since...