Futures trader?
no. it's -13.00 at Midland tank farm not the wellhead. more importantly, the spread between Midland the coast is even greater. -15.5 to -16.50 depending on whether your in Houston or Louisiana.Gordo14 said:
http://www.cmegroup.com/trading/energy/crude-oil/wts-argus-vs-wti-calendar-spread-swap-futures.html
Am I reading this right. There's a $13 differential at the wellhead in Midland compared to Cushing
IrishTxAggie said:
Likely not a huge driver in any costs but I'll share with you some things going on my end.
One of my company's divisions produces OGC (organoclay) and one of the primary component is quaternary ammonium. Quat is primarily produced by two companies: Akzo and Solvay. Both having very large operations in China. Production has been nonstop running their plants 24/7 for quat. Well in the wonderful wisdom of the Chinese government, they recently banned these plants from operating more than 12hrs/day due to "pollution".
TxAg20 said:GarlandAg2012 said:
That's impressive. Wonder what kind of completion they put on those.
Probably an oil frac.
TriumphForks said:
Last I heard (a couple weeks ago) we have about half of our production hedged at $60. I have a feeling companies are hiring more, as I am about to move companies.
AggieOil said:TxAg20 said:GarlandAg2012 said:
That's impressive. Wonder what kind of completion they put on those.
Probably an oil frac.
Que?
$80 = RaptorsSpreadsheetAg said:
Bass boats and 4 wheelers time?
Maybe that'll prop the price up some more.nu awlins ag said:
I'm hearing that the pipelines are running near capacity from a meeting I was in. This could delay a lot of wells being completed since there is no avenue for shipping. I was under the impression that there was plenty of lines in west Texas. It's a double edge sword....
nu awlins ag said:
I'm hearing that the pipelines are running near capacity from a meeting I was in. This could delay a lot of wells being completed since there is no avenue for shipping. I was under the impression that there was plenty of lines in west Texas. It's a double edge sword....
I've heard talk of $15+ discount to WTI by year end and early 2019. Worry is strong enough that we plan to shift all new completion activity for the end of 18 beginning of 19 out of the basin into areas with less discount, to allow pipeline takeaway to catch up and minimize the impact to our.Gordo14 said:nu awlins ag said:
I'm hearing that the pipelines are running near capacity from a meeting I was in. This could delay a lot of wells being completed since there is no avenue for shipping. I was under the impression that there was plenty of lines in west Texas. It's a double edge sword....
Yes. I've been seeing Midland crude selling at a $11 discount to WTI.
where will you be refocusing, if you don't mind me asking.BlackGoldAg2011 said:I've heard talk of $15+ discount to WTI by year end and early 2019. Worry is strong enough that we plan to shift all new completion activity for the end of 18 beginning of 19 out of the basin into areas with less discount, to allow pipeline takeaway to catch up and minimize the impact to our.Gordo14 said:nu awlins ag said:
I'm hearing that the pipelines are running near capacity from a meeting I was in. This could delay a lot of wells being completed since there is no avenue for shipping. I was under the impression that there was plenty of lines in west Texas. It's a double edge sword....
Yes. I've been seeing Midland crude selling at a $11 discount to WTI.