Exactly, and even at this low price point US shale is nonetheless making billions on sheer volume. Additionally, instead of sending trillions of US dollars overseas to import energy, foreign money is now flowing into the US to buy our gas and oil. It's our turn at the trough.techno-ag said:
https://www.wsj.com/articles/effort-to-crush-shale-producers-only-made-them-stronger-1497027600Quote:
Surging productivity in America's shale oil patch is an indirect result of pressure applied in recent years by OPEC and may have permanently lowered oil prices.
--
While the recent decline in crude prices to near multi-month lows is costlier to the bottom lines of still high-cost shale producers than the Saudis, the productivity genie can't be put back into the bottle. It has put a permanent dent in long-term oil prices, costing traditional exporters tens of billions of dollars in future revenue.
Houston..we have a problem....
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Last: 1 day ago by TxAg20
SidetrackAg
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Stocks fell by 1.7 million, expected a 2.7 million drop. Gas stocks rose, that is what the killer is.
Well, this next week or two should be fun......
Market is getting destroyed today
Everyone knew this day was coming, but what a devastating blow for Fort Worth.
http://www.star-telegram.com/news/business/article156670054.html
http://www.star-telegram.com/news/business/article156670054.html
Honestly, they may end up better off. That's going to open up a lot of prime real estate for companies moving to the DFW area to occupy. With as much stuff going on in Fort Worth right now to improve the area, it's going to make it real attractive.Ag CPA said:
Everyone knew this day was coming, but what a devastating blow for Fort Worth.
http://www.star-telegram.com/news/business/article156670054.html
And I'm just waiting on the name change, the operational split between XTO and Exxon is dumb.
Not if you work for xto.
And not if you're an engineer in Fort Worth job hunting.
do we have an active " guess the price of crude by XXX" contest going ?
Since we are about half way thru 17 it time for the so-called experts to start the usual " I see crude at $xx by the end of the year" stuff. Lets get one for our guys for year end price please .
Since we are about half way thru 17 it time for the so-called experts to start the usual " I see crude at $xx by the end of the year" stuff. Lets get one for our guys for year end price please .
$54 by 31 December 2017. Ain't gonna be easy....
WTI- 41.50
Brent- 42.25
The Fall will not be kind to the industry. I actually think I'm high in my predictions.
Brent- 42.25
The Fall will not be kind to the industry. I actually think I'm high in my predictions.
WTI: 39.53
Brent: 40.25
Brent: 40.25
sure hope your right.nu awlins ag said:
$54 by 31 December 2017. Ain't gonna be easy....
My concern is what are these prices doing to Russia, SA etc ? We are seeing the effects in Venezuela. Don't know how long these countries that have to have $80+ oil can sit on their thumbs without pulling some stunt.
That being said, I hope we have at least $50 oil by December.
That being said, I hope we have at least $50 oil by December.
I don't see how prices can rise too much, since US frackers ramp up production every time they do: SUPPLY
ColinAggie said:
WTI- 41.50
Brent- 42.25
The Fall will not be kind to the industry. I actually think I'm high in my predictions.
Then... why is that your prediction?
Trying to be cautiously optimistic.
Y'all see the EQT overture for Rice? 6.7 billion EQT is buying Rice Energy
Oil below $43 today. I wonder how low it will end up this week?
$56 on Dec 31 (WTI)
WTI: $34
BRENT: $38
If cuts end early before the end of the year for some reason you may see high 20s.
Numbers the next 6 weeks will be very telling. If there are not draw downs in 4 of the next 6 weeks then watch out.
BRENT: $38
If cuts end early before the end of the year for some reason you may see high 20s.
Numbers the next 6 weeks will be very telling. If there are not draw downs in 4 of the next 6 weeks then watch out.
This talk about high 20s and low 30s at the end of 2017 is silly. This is the stuff that always happens when prices make a run down (or up)...people start talking about extremes. All of the doom articles start coming out because thats what people want to read. The truth is less exciting...average $45-55 for a while.
Give me $49.50 (WTI -Dec31)
Give me $49.50 (WTI -Dec31)
I did say earlier in this thread that I saw mid 40s before I saw 60s and that was when the price was around $54 sobwe shall see... I mean if there is a massive build, do you really think prices hold at $43 tmrw?
Any truth to the rumor that Noble Energy is trying to sell to Anadarko? Or that there was a data room set up?
Aggiesincebirth said:
I did say earlier in this thread that I saw mid 40s before I saw 60s and that was when the price was around $54 sobwe shall see... I mean if there is a massive build, do you really think prices hold at $43 tmrw?
If there is a massive draw do we really think prices hold at $43 tomorrow? I mean, it'll move tomorrow, one way or the other.
I agree I think it will go to either $39 or 45 a move of $2-$3 either direction.
where you hearing that Rory?
It's something that I've heard in the office. I don't know if it's true but Noble doesn't seem too committed to the Basin. It also seems ready for a takeover.
Are you talking about onshore or the whole thing? Noble has already spent billions on Leviathan and has a commitment to the Israeli government.
My guesstimate is that oil will go down to either $40.64 or $37.18 during this current move down.
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