I'm pretty sure the person you're responding to is an E&P exec, albeit for a smaller company.
yup, that's the move. pull all of the money into company accounts.Bismarck said:PincheDriller said:
On another note. Thoughts on Exco Resources (XCO) and the recent 8-K's filed. Thoughts on where headed?
Very similar moves to Linn before it filed for bankruptcy. Kirkland advised Linn as well.
ColinAggie said:jbanda said:
That's not how this works OPEC
https://www.cnbc.com/2017/10/10/opec-calls-on-us-shale-oil-producers-to-accept-shared-responsibility.html
Comeby! said:TxAg20 said:
It's not hard to shut in existing wells for a few day each month. There are wells that you wouldn't want to shut it such as recently completed wells that you're trying to recover load water from, but shutting in a lot of mature production shouldn't be an issue. Many of us would sacrifice production of $50 oil today for a near-term shot at producing those same barrels for $70.
Yes, people have rig contracts and they would keep drilling. Rig count isn't the problem. It's oil inventories.
I don't know of any E&P executives that would be ok with shutting in wells or sacrificing today's production.
There are a lot of areas that may not get that production back. A lot of reservoirs I've worked have crossflow issues, and wells that fail can often take a while to recover. For those that aren't in the industry, a well failure is very similar to shutting a well in as far as how fluids react in the wellbore. I think some areas could pull it off, but I don't think you could justify it to your shareholders at all. It'd be hard to tell them you're going to take a hit while your competitors grow production.TxAg20 said:
I'm an E&P executive and I would be okay with it. I don't think it could realistically happen. I don't have shareholders to please or guidance to hit or significant debt to service which makes my company rare in the field of E&P companies.
I've never seen a lease that requires producing a well at its maximum potential every month.
I think most people would be happy to sacrifice 20% of their production for the next 3 months at $50/bbl to produce those same barrels 3 months later at $70/barrel.
This would require a very high percentage of cooperation among U.S. operators as well as breaking some collusion and anti-trust laws. Thus I would say it's technically possible, but very much unrealistic.
GarlandAg2012 said:
I'm pretty sure the person you're responding to is an E&P exec, albeit for a smaller company.
Bingo. You'd end up spending your extra profit trying to get your wells back online.Joseph Parrish said:There are a lot of areas that may not get that production back. A lot of reservoirs I've worked have crossflow issues, and wells that fail can often take a while to recover. For those that aren't in the industry, a well failure is very similar to shutting a well in as far as how fluids react in the wellbore. I think some areas could pull it off, but I don't think you could justify it to your shareholders at all. It'd be hard to tell them you're going to take a hit while your competitors grow production.TxAg20 said:
I'm an E&P executive and I would be okay with it. I don't think it could realistically happen. I don't have shareholders to please or guidance to hit or significant debt to service which makes my company rare in the field of E&P companies.
I've never seen a lease that requires producing a well at its maximum potential every month.
I think most people would be happy to sacrifice 20% of their production for the next 3 months at $50/bbl to produce those same barrels 3 months later at $70/barrel.
This would require a very high percentage of cooperation among U.S. operators as well as breaking some collusion and anti-trust laws. Thus I would say it's technically possible, but very much unrealistic.
Comeby! said:
Missed your last post.
I suppose I could shelve CAPEX projects under the guise of "I'd rather keep my oil in the ground than sell at these prices." I run a private E&P company and could convince my equity group of the need to do this however it would be counter to everyone's interests. A wholly owned (i.e. No PE, or investors) private company could stand down and live to fight another day.
dahouse said:
This may not be the place to post this, so let me know and I can delete if necessary.
I work for a midstream construction company and have always wanted to make the move to the owner/operator side of the industry. I have 10 years of experience as a PM/Estimator and have also worked in the energy services field (pipeline cleaning/pigging/nitrogen/filtration).
Anyone here able to pull that off? I don't have an engineering degree and that is usually the roadblock
dahouse said:
This may not be the place to post this, so let me know and I can delete if necessary.
I work for a midstream construction company and have always wanted to make the move to the owner/operator side of the industry. I have 10 years of experience as a PM/Estimator and have also worked in the energy services field (pipeline cleaning/pigging/nitrogen/filtration).
Anyone here able to pull that off? I don't have an engineering degree and that is usually the roadblock
Yep. Solar is still super expensive compared to efficient methods of production. Not to mention, a grid like that can't handle charging an entire fleet of their precious hybrids. Can't have it both ways unless there's a massive technological breakthrough.nu awlins ag said:
Bernie is pimping it because he's getting something for it. 30+ year senator who needs to go....
bkag9824 said:
Hope you guys are doing well back in Houston. Look at Whitewater out of Austin: http://whitewatermidstream.com. Buddy works there & I could put you in touch.
I met a PM for Magellan that had a construction management degree. Most/All of their other PMs are Engineers. Pretty sure you would have to live in Tulsa to be a PM for them.dahouse said:
This may not be the place to post this, so let me know and I can delete if necessary.
I work for a midstream construction company and have always wanted to make the move to the owner/operator side of the industry. I have 10 years of experience as a PM/Estimator and have also worked in the energy services field (pipeline cleaning/pigging/nitrogen/filtration).
Anyone here able to pull that off? I don't have an engineering degree and that is usually the roadblock
A little late to the party, but wanted to chime in.Ragoo said:Agree about the dual engine. I rode in my friend's Volt this past weekend and it was amazing. Drove to BCS and bag on the charge. smooth as silk acceleration, no gears.AgLA06 said:TxAg20 said:
"Buffett should have consulted Elon Musk who is going to put 500K, no 300K, no 1K electric vehicles on the road next year."
Elon has made some cool stuff, but can you imagine what he could be if he wasn't limited by a liberal devotion that motors were the devil? If he was ever smart enough to offer a 4 cylinder LP engine or diesel engine in addition to the battery system in his cars he could actually accomplish his production goals.
I mean other than the silly omission that power plants still create the electricity for his cars, Tesla has promise. I'd be interested if they could improve the range and add the redundancy of a non electric engine or a true dual power electric / fuel engine to their current system.
In my mind there's a couple of things holding me back from buying one.
1) A lack of similar range to gas / diesel engine vehicles.
2) Lack of a comprehensive recharge station network as convenient as gas stations.
3) No redundancy of propulsion systems. Replacing the battery bank is rumored to be as expensive as buying a new car and we know how long a new cell phone lasts before seeing battery charges lasting less and less over their lifespan. A small conventional engine or LP engine could provide options.
But no. He'll continue to push the BS allusion of "green" oil and gas hating narrative at the expense of progress.
dahouse said:
Anyone here work for, or know someone who works for Williams? May have a contract-to-direct hire opportunity there and wanted to do some research.
The regulated side is run by a bunch of dumb, soulless clowns and largely populated by zombies. I'm not completely clear as to what deregulated stuff is still in Houston but that side of the house is pretty good.dahouse said:
Houston
CrazyComeby! said:
EP Energy dismissed all their exec management team yesterday. Starting with a clean slate.
Very interesting. I hadn't seen this yet. Thanks for posting.Comeby! said:
EP Energy dismissed all their exec management team yesterday. Starting with a clean slate.