Really?nu awlins ag said:
XTO did this out in Midland a few weeks back....
Houston..we have a problem....
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Last: 29 min ago by Drillbit4
That was just the VP and some random other's, not really an "executive reorganizing" of sorts but more of an internal issue being taken care of.
None the less, sounds like a lot of weird stuff is going on at that office lately.
None the less, sounds like a lot of weird stuff is going on at that office lately.
They "released" some people. Not sure who.
Goose, have y'all signed or discussed anything with any of the sand plants being built out there? I know water is a huge issue for the majority of the plants that have been announced.
MavsAg said:
Goose, have y'all signed or discussed anything with any of the sand plants being built out there? I know water is a huge issue for the majority of the plants that have been announced.
We are currently drilling water wells for one of the sand mines. That is all in Ward/Winkler counties I think. Our GLO lease is in Reeves/Culberson.
Considering how small the non-oil portion of SA's economy is, I find it surprising that LNG imports could free up "significantly more oil" for export: "Even Saudi Arabia is looking to invest in export terminals around the world to import gas to replace some of the oil the country burns for power. Such an investment, which could come with the initial public offering of Saudi Aramco planned for next year, could free significantly more oil on global markets."
AMAZING
AMAZING
Oil jumps to $57/bbl today...
ChemEAg08 said:
Oil jumps to $57/bbl today...
Hopefully the momentum will keep rolling up to a steady $75/bbl.
Not so fast my friend!!!! I'd rather it stay in the mid $60 range for a while. Ensures plenty of activity without going over the deep end again....lawless89 said:ChemEAg08 said:
Oil jumps to $57/bbl today...
Hopefully the momentum will keep rolling up to a steady $75/bbl.
Mid $60's would be nice. Job security enough to buy a new truck (driving a beater Camry around) but gas still cheap enough to fill it up.
Correct, as well the offshore activity would pick up too. It would pick up in the $70's as well, but the industry really doesn't need it there right now. Right now, it is creating just enough "promise" to keep things going and that is a good thing considering where the industry was just a few short years ago, hell months really.
I'd be happy just to stay above $55, we have seen this level break down time and time again the past few years.nu awlins ag said:Not so fast my friend!!!! I'd rather it stay in the mid $60 range for a while. Ensures plenty of activity without going over the deep end again....lawless89 said:ChemEAg08 said:
Oil jumps to $57/bbl today...
Hopefully the momentum will keep rolling up to a steady $75/bbl.
Any of you guys see the Smithsonian Channel piece on the Piper Alpha disaster. Remember that horrific day so well. Changed the offshore safety world but at a tragic cost. Didn't know anybody on that rig but worked with some guys that lost good friends that night. Pretty good depiction.
We learned about it in one our Senior ChemE classes, pretty tough story.
Any word from EXCO? Heard they might be in Ch 11 type trouble.
Talon2DSO said:
Any word from EXCO? Heard they might be in Ch 11 type trouble.
They drew down their revolver in September (bad sign) and then had 2 recently announced changes to their board of directors. They had a 15 for 1 reverse stock split and are still trading at under $1/share. All of this points to nothing good, that's for sure.
Anyone know which building? Allen Center with Motiva? http://www.bizjournals.com/houston/news/2017/11/07/exclusive-saudi-aramco-subleases-200-000-sf-in.html
I know EQT is pulling out of Allen, but not sure how much sq footage they have.
Who to believe? OPEC says demand will increase in 2018 due to tightening of the market and producers agreeing to curb supply. Now the IEA says demand will not be strong in 2018 because of warmer temps and sharply rising production from outside OPEC. Price dropped 2% based on what the IEA just published. Warmer temps, but where? I realize they are based in Paris, so maybe they have somewhat of an "agenda" to push.
Wouldn't the Paris agenda be on pushing prices up to promote their new initiative and get it moving faster with the ban on petrol and diesel vehicles by 2030?
http://www.caradvice.com.au/592683/paris-plans-to-ban-petrol-and-diesel-cars-from-2030/
http://www.caradvice.com.au/592683/paris-plans-to-ban-petrol-and-diesel-cars-from-2030/
If you are getting rid of it anyway, price is not much of a factor. With higher prices, it makes companies more money, thus more investment. Price drops, you drive players out of the market and decrease investment.
But higher oil prices would promote the consumers to make the switch on their own before the 2030 ban.
True, but those prices would have to almost triple to 2008 numbers from today, which isn't going to happen. You want to buy electric now, a little higher price isn't going to push you over the edge sooner.
Gasoline is already ~1.50Euros/liter in Paris. That's nearing $7USD/gallon. I'd think the consumers in the area would take a much stronger look at alternatives if prices were to go much higher in the region given that several automotive manufacturers in Europe already have alternative options available to consumers.
They have always paid more for fuel than we have....nothing new there.
Also, a lot of countries don't drive like we do here in the US.
TPH view today:
TPH has an agenda as well.
We'll see where DOE inventories come in tomorrow, but overall the last few months have proven a tightening of the oil market.
I'm okay with some demand negativity through the end of the month. I'd like just enough to assure OPEC extending cuts. If the market is going to be manipulated, I'd like to see it work so good that it doesn't work again.
Quote:
MACRO
- IEA Monthly Oil Market Reportbullish on OECD inventory draws and OPEC production (WTI $57/bbl and Brent $63/bbl) OECD Sept'17 total stocks down 40mmbbls vs. norm 7mmbbls draws and 3Q'17 stocks are down 46mmbbls vs normal +47mmbbls. I should stop writing.this is all that matters. For those interested, the IEA dismisses the OECD stock draw as due to Harvey yet non-NAM OECD stocks drew a larger % than NAM.go figure? OPEC production of 32.5mmbpd (-80kbpd) m/m shows continued compliance with large m/m restraint from Iraq and continued volatility in Libya and Nigeria. Market won't like headlines on demand as IEA tweaking '17 down 50kbpd (round-off) and '18 down 200kbpd (still +1.3mmbpd y/y). The demand revisions are across the board and not concentrated on one region.
- IEA Monthly Oil Market ReportWhat do you believe!? (WTI $57/bbl and Brent $63/bbl) It is conviction time. Do you believe the IEA when they talk about an oversupplied oil market in 2017 and thru 1H'18? Or, do you take a peek behind the numbers and see that 3Q'17 OECD stocks drew 46mmbbls vs. 47mmbbls builds (5-yr avg)and posted the largest 3Q draw in the past 15 years. Do you look at total OECD stocks at 371mmbbls (+12%) above normal in Feb'17 which are now 223mmbbls (+7%) and wonder "how can the global market possibly be oversupplied"? We do. Outside of NAM, OECD stock levels are only 2% above normal and the Brent forward curve is in long-term backwardation and Brent is >$6/bbl vs. WTI. Inventories are the compass pointing toward an energy recovery. Come on into the tentthe revival is just getting started.
- India oil demand rises +56mbd y/y in Oct '17, albeit at a slower pace (XOI $1269) India total oil demand in Oct '17 rose +56mbd y/y (+1.3%) for the second consecutive month to 4,396mbd, although this pace measures well below last month (+8.8% y/y). The softer rate was primarily due to a -51mbd y/y decline in middle distillate consumption, with softer diesel demand and ongoing declines in kerosene. In an effort to limit pollution, India has gradually substituted away from kerosene (-44mbd y/y YTD) for lighting and cooking in favor of cleaner LPG (+59mbd y/y YTD) use. Further recovery of light distillates (+9mbd y/y) and petroleum coke (+33mbd y/y) consumption also contributed to demand growth in the month. YTD '17 oil demand was revised up to 4,376mbd (+37mbd y/y, +0.8%) following October growth, which is currently tracking below TPHe +130mbd of 2017 growth.
TPH has an agenda as well.
We'll see where DOE inventories come in tomorrow, but overall the last few months have proven a tightening of the oil market.
I'm okay with some demand negativity through the end of the month. I'd like just enough to assure OPEC extending cuts. If the market is going to be manipulated, I'd like to see it work so good that it doesn't work again.
Both of their heads of research are an Aggies who is also hold degrees in PetE and have real world working experience. I'll take their research and numbers any day over a "agency's". But that's me...
TPH has been bullish on oil for a while now. At some point they will be right...
nu awlins ag said:
Both of their heads of research are an Aggies who is also hold degrees in PetE and have real world working experience. I'll take their research and numbers any day over a "agency's". But that's me...
I like TPH, they do great work analyzing companies in a relative basis and digging up details most of the wall street guys don't know about, but they tend to be bullish on crude pricing. I think they had a $80 average for 1H17 quite a while after everyone else had moderated to 50-60.
That said, the synopsis posted earlier looks like a pretty solid summary of both my thoughts and what I'm seeing from bulge bracket IB research.
It's too quiet in here. How about the OPEC cuts. Getting close to $60 WTI
Gordo14 said:
It's too quiet in here. How about the OPEC cuts. Getting close to $60 WTI
There's a very good reason for this. Let's not forget Khalid A. Al-Falih is an Aggie and he's doing his part to help us pay for Jimbo Fisher.
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