I'm pretty sure the person you're responding to is an E&P exec, albeit for a smaller company.
Houston..we have a problem....
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Last: 2 hrs ago by Drillbit4
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
OPEC must be getting ready to report dismal compliance so SA has to throw more crap on the wall to try to keep prices up.
ANd why does OPEC always throw the word "stability" around? Prices have hovered around 45-50 for the last year and a half. I'd say that's pretty stable.
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.
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.
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.
Well, you know where this exec stands on that and I'm pretty sure I'm aligned with 98% of board and PE groups.
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.
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.
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.
A lot of large companies that are beholden to shareholders already did that, which is why we have a bunch of DUCs being frac'd right now.
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.
I don't think TX20AG is suggesting he would recommend doing this either in isolation. Just simply stating that if all of North American oil and gas companies were to be joined together similar to OPEC then collectively it could make sense for the group of companies to work with OPEC to manipulate prices. As he then acknowledged, this would likely be illegal in the US (especially if done how I suggested).
Secondarily I think you and he both make great points and that is that your ownership structure (public, pe backed, or other private structure) as well as your existing debt situation will play a big role in how you approach weathering the price environment.
While you all agree to shut off your wells, I'll gather some investors and start my own new E&P company and be happy with my profits.
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
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
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.
Also look at CVX Pipeline. Could also look at MCBU on the FE side of the house. Might have to move to Midland for MCBU, but there's tons of work backlogged.
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
If you're interested in the water side of the business, I know we are about to expand our engineering and PM staff. Not sure of the timing, and we're also based in Midland, so not sure if that's an issue.
I appreciate the replies.
Cody
Fightin Texas Aggie c/o 04
Fightin Texas Aggie c/o 04
Coal has declined massively and Trump campaigned heavily to coal communities.
Bernie is pimping it because he's getting something for it. 30+ year senator who needs to go....
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....
Joe West is a fat piece of **** and a waste of oxygen.
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.
Yup, good group of dudes and they will be busy for a while with their big residue pipeline out in W Tx.
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.
2) Range Issues - Uncle has a P95D, thing is absolutely amazing to drive. If you have a chance to drive one, you will be blown away by the acceleration, and then add the auto-pilot, its a different world. I rode with him from Pensacola to Houston. The onboard computer lets you know where the charging stations are located. The supercharging stations are located in shopping centers where there is sit down type food like Jason's deli or a grocery store. Yes, it did take 30 mins to go from 20% Charge, to about 80%, but we were done with lunch at that point, so if you are going only 500 Miles in a day, you only have to refill once during lunch. He did start with a full charge. If you are telling me you can get a family of 5 through a meal and you are driving more than 500 miles in a day, you don't take a 30 min break?
Would I want this to take a cross-country road trip to see all the sites? No. Would I be comfortable taking one on the major interstates? Yes
3) Small Conventional Motor- Elon will not do this. Just look up the History of Henrik Fisker and Elon. Elon hired Fisker to create designs for the Model S (codename White Star) in the beginning for Tesla. Fisker spent 6 months and just seemed to be stalling. Elon fired Fisker after he found out he was starting Fisker Motor cars that was, wait for it, an electric-gas hybrid. Well, Tesla is still around, and Fisker went t**s up in 2014.
Replacing the battery - Elon has still not delivered this, but the entire floor of Tesla's slides out and a battery can be swapped in a few minutes. His original intention was that for those who did not want to wait, you could drive over a shop floor, machine removes your battery, and puts in a new fully charged one. This was back in 2013. Earlier this year, Tesla filed patents for a mobile battery swapping rig.
The thing also sounds like a giant fan while supercharging. There are god knows how many fans that come to life when hooked up to a supercharger to help keep the battery cool.
Take this into consideration, your house on a hot day in Houston, may use 125 kWh in 1 day (big house keeping at 70 and pool motors going), cut a little slack every now and then.
I won't go too much further into the battery technology, but suffice to say above 125kwh, you are getting one big cable. Also, 20-80% on battery charging takes ~30 mins, above 80%, you start getting diminishing returns of efficiency due to chemistry of the Lithium Ion Batteries.
Wife and I listened to "Elon Musk: Tesla, SpaceX and the Quest for a Fantastic Future" - Apparently Elon's 3 Companies are all about his ultimate goal, the Colonization of Mars:
Space-X - Gets you to Mars
Tesla - Drives you around Mars
Solarcity - Powers you while on Mars
JW, any of you use paypal? B/c then you are just supporting Elon and his quest for allusion green energy
I personally think he's a little out there, makes promises he doesn't deliver on in time, says outlandish things, had a few wives, and has an ego problem, but ultimately has done alright, and delivers a great product, just a few years late. Oh wait, my mind had wandered off to twitter to see what Trump just said
when I was typing that, but the two seem pretty similar in that regard.I will buy a Model 3 in a few years, if there isn't another car that will drive me to work while I wait on 290 to finish.
Full Disclaimer: I'm typing this after getting back from outside while we try to kill a well right now after getting latched back up after running away from Nate. I love his technology, same as Apple, but I don't care about his politics.
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.
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.
What city?
Houston
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
Lol
Thoughts on China launching the Petroyuan in 2018?
http://www.zerohedge.com/news/2017-10-24/its-huge-story-china-launching-petroyuan-two-months
http://www.zerohedge.com/news/2017-10-24/its-huge-story-china-launching-petroyuan-two-months
EP Energy dismissed all their exec management team yesterday. Starting with a clean slate.
You mean EP Energy? They were run, let's say, a little "funny" from the inside.
CrazyComeby! said:
EP Energy dismissed all their exec management team yesterday. Starting with a clean slate.
XTO did this out in Midland a few weeks back....
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.
My company just announced an 88k acre water rights lease from the Texas GLO in the Delaware Basin. Another Texags poster and I have been working on this deal for a while.
http://investor.laynechristensen.com/common/mobile/iphone/releasedetail.cfm?ReleaseID=1046587&CompanyID=LAYN&MobileID=
http://investor.laynechristensen.com/common/mobile/iphone/releasedetail.cfm?ReleaseID=1046587&CompanyID=LAYN&MobileID=
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