The Original AG 76 said:

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perhaps include the 4 folks in Louisiana with an IQ over room temp and sober)

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Hey thats me. oh wait, AND SOBER. Nevermind

I think Trump will get oil right in the end. He's a number guy and has smart folks working for him. He likes to float headlines out there then sit back and see the way the wind blows then when time to get to the nut cutting he relies on the data.
Example: he throws the world under the bus and says no more trade deficits. World leaders reach out and agree to individual trade agreements.

Example 2: Tells North Korea there will be fire and fury the world has never seen before. Bombs Syria after Putin draws a line. Rocketman exclaims 'That dude is crazy'. Agrees to shut down nuclear weapons.

How'd things go at GeoSouthern?

I interviewed but I don't think they liked me.

They seemed a bit odd actually. Supposedly a finance/accounting team of over 40 for a company of 300ish. Seemed a bit heavy for support staff which I was interviewing to be a part of.

Have two interviews this week with companies in the industry so we shall see.

Too bad. Good luck with the other interviews.

A couple of good reasons that they have so many.

If offered I would take that in a heart beat. Great company to work for.

Well I'm sure they are a great company and I'm sure if they offered a position I would consider the opportunity.

The interview was just off from the beginning and they didn't seem to fully answer questions I had. I just didn't get a good vibe from anyone the panel. I have had several other really good interviews where I connected more at least in my mind.

After the interview I spoke to a friend who had also interviewed the the same panel for a different position a few weeks prior and she also had a similar experience. Maybe it was just us?

MaysAggie2015 said:

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All of this "production and infrastructure are booming so prices must stay in a bound range because of instability elsewhere)" talk doesn't follow historical O&G patterns. People forget that increased production across Texas alone in the Gusher Age (you could almost consider the current age an equivalent) resulted in the TRRC having to intervene in the market and took until the 1940's to help prop up and stablize prices by instituting regional production quotas.

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Yep. If demand is high enough, the industry will eventually find a way to increase supply. US fracking is just the latest action-reaction example. It destroyed $100 oil a few years ago and has acted as a brake on OPEC's attempts to artificially drive prices back up ever since. There's nothing to suggest that won't happen again during this run-up. Anyway, US energy will decide what the new normal settles down to be, not OPEC. Not So Fast

Jerry Jones (Arkoma) takes control of Comstock

http://www.rbcrichardsonbarr.com/IndustryResearch/News.aspx?a=news&ticker=a&w=&story=201804thomsonreuters2187716_9999999_0.xml

While I don't disagree with what you are saying, I don't have information that the President and his council are privy to. I can imagine there are things that we do not know and that are not reported in the EIA report. You have to wonder if numbers are being reported accurately or if there is a lot of cheating going on to drive the price up, which I happen to think is happening and happens all the time.

It is not a secret that Saudi and Russia want a higher oil price for the Aramco IPO to drive the value up. It is also no secret that Saudi owns the LARGEST refinery in the North America which happens to be in Port Arthur.

My opinion is that the largest driver of inflation is gas prices. As gas prices go up, the rest of the goods that you buy will go up. I can almost guarantee gasoline demand will be flat to down year over year as gas prices shoot through the roof. The prices at the pumps have hardly set in yet with the increase in oil prices. Will people drive more or less this summer when gas prices rise above $3/gal? The higher the price per gallon of gas goes up, the more you will see demand for EVs go up.

I work in O&G and I would say most people I speak with do not think this price is sustainable. It is being propped up by politics, supply/demand (mostly demand), futures contract ratios (which last I saw was like 14:1 long to short), and a few other things. I am pretty bearish on oil second half of the year. Of course that could change with natural disasters like last year, but fundamentally I am bearish. Definitely bearish on the gasoline demand side.

Marathon is buying Andeavor

Ulrich said:

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Marathon is buying Andeavor

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whoa. Andeavor just formed out of Tesoro and Western refining.

Tesoro bought Western, which had just bought Northern Tier. WNR/NTI closed in June 2016 for 1.6b, then Tesoro bought WNR for 6b which closed in June 2017.

Andeavor is a stupid effing name.

GarlandAg2012 said:

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Furlock Bones said:

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Andeavor is a stupid effing name.

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Not as dumb as Equinor

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truth

https://finance.yahoo.com/news/audit-finds-aramco-oil-reserves-120136586.html

Any Permian folk know who picked up the EQT midland basin acreage ... looks like Sterling/Glasscock Co's

Rising WTI and rising fed interest rates will cool off the economy in the very near future. Most Americans simply dont have the income to pay more at the pump and more interest on their CC's and mortgage rates. The next recession will drop oil back down, in the next year or so IMO

Where's the "Historically, oil is worth $14/bbl. Above $14/bbl is overpriced and it will ultimately average $14." guy? He hasn't made an appearance in a while.

IrishTxAggie said:

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Not looking to make friends here I see...

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haha not hostile...I try to think objectively. Just my opinion.

dp

Gordo14 said:

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O'Doyle Rules said:

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Rising WTI and rising fed interest rates will cool off the economy in the very near future. Most Americans simply dont have the income to pay more at the pump and more interest on their CC's and mortgage rates. The next recession will drop oil back down, in the next year or so IMO

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The economy and world markets are way more complicated than that.

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China slowing, fake GDP numbers
South America is bankrupt
Europe always lags behind the US
India still a developing country

My point is that the US would be in the best scenario to drive the world economy, but the FED is out of feathers in its quiver once the next recession hits. A macro view certainly.

Agree. China is not slowing and Asia as a whole, the demand is RISING. Interest rates would have to rise way more than the current rate to have a negative impact on the economy. India's demand is still growing and last year passed China's numbers.

nu awlins ag said:

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Agree. China is not slowing and Asia as a whole, the demand is RISING. Interest rates would have to rise way more than the current rate to have a negative impact on the economy. India's demand is still growing and last year passed China's numbers.

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The Chinese aren't going to hike their rates anytime soon. They're giving money to nationals at basically 0% interest. We're doing an expansion on one of our production plants in Zhuhai and the government is basically paying us to do it. One of the reasons they probably don't want to offer much access to their markets for foreigners.

Random question as I was reading some Q1 reports.... what does it mean when the presentations talks mention sales of oil for Q1 as "divestiture-adjusted sales"

A few years ago there was a conversation in this thread around China's economy being cooked. & how unsustainable it will be. Now its back to a booming economy?