U.S. Poised to Surpass Saudi Arabia as World's Top Crude Oil Producer
https://www.breitbart.com/jerusalem/2018/07/12/u-s-poised-to-surpass-saudi-arabia-as-worlds-top-crude-oil-producer/

Quote:

---

Soaring domestic production levels means the U.S. is ready to pass both Saudi Arabia and Russia to reclaim the title of the world's biggest crude oil producer. It last held that position in 1974.

The U.S. Energy Information Administration made the forecast and predicts that U.S. output will grow next year to 11.8 million barrels a day. The rise comes on the back of U.S. innovation in the field of hydraulic fracturing, or fracking, and horizontal drilling.

As a consequence, American oil imports could drop as low as 1.6 million barrels a day, which would be the lowest level since 1958.
-
In March, the International Energy Agency made the same prediction, observing American oil production will soar over the next five years, supplying much of the world's growing demand for oil.

U.S. production of crude oil, condensates, and natural gas liquids will rise to 17 million barrels a day by 2023, up from 13.2 million in 2017, according to IAE's forecast. As a result, U.S. production will supply around 80 percent of the increased global supply of oil, which the IAE sees rising 6.4 million barrels per day to 107 million barrels a day.

---

Possibly old news by now, but I thought this article drawn up by Peter Zeihan was well done and pretty thought provoking. Covers tariffs, China, oil, geopolitics etc.

Of China and Oil

M&A activity has slowed but may be ramping up.

https://www.bizjournals.com/dallas/news/2018/07/13/oil-gas-acquisitions-transactions.html

What's the boards consensus on who ends up buying BHGE?

This was my thoughts too.

I hope so; I need some stability at work

Comeby! said:

---

Does anyone here work for a field data capture company such as Enertia, P2, Greasebook, etc?

---

Comeby, I work for a field data capture company. You can shoot me an email at username @ yahoo.com if you would like to chat or have a question.

Anyone heading to the URTeC next week?

Yeah ill be down there, we'll have a booth on exhibition floor

Then we can actually meet....as I'll be there as well.

Look for a tall goofy looking dude. Jetch will be standing next to him.

WishIWasTheWeather said:

---

Comeby! said:

---

Does anyone here work for a field data capture company such as Enertia, P2, Greasebook, etc?

---

Comeby, I work for a field data capture company. You can shoot me an email at username @ yahoo.com if you would like to chat or have a question.

---

I demo-ed your stuff on friday.

Yes. Yes, you did.

I received an email from a recruiter with Baker Hughes to set up a phone interview. Is there anyone here with Baker Hughes that can shed some light on what it's like over there right now? Or what could be expected as GE sells off their shares? Thanks!

Old co worker just said that BP is having a pretty big layoff in a few weeks. The offshore sector just isn't anywhere near healthy. The shakeout is still working it's evil .
So glad I'm done.

Laying off the offshore to gear up for onshore of the BHP assets?

The Concho/RSP merger is official as of today

It's in about 2 weeks around 8/1 ish and about half of one of their BUs (few hundred I'd assume). Long time coming and wouldn't necessarily blame it on the offshore market. Things are actually looking somewhat positive for 2019 and beyond.

The real story is that after Harvey and their flooded buildings with no one coming in, they realized how fat they actually were and how a large portion of their workforce just made up work for themselves. It opened upper management's eyes to the fact they've been scammed for years by staff making up unnecessary things to do. Sounds like a full lean out re-org as a result...

59 South said:

---

It's in about 2 weeks around 8/1 ish and about half of one of their BUs (few hundred I'd assume). Long time coming and wouldn't necessarily blame it on the offshore market. Things are actually looking somewhat positive for 2019 and beyond.

The real story is that after Harvey and their flooded buildings with no one coming in, they realized how fat they actually were and how a large portion of their workforce just made up work for themselves. It opened upper management's eyes to the fact they've been scammed for years by staff making up unnecessary things to do. Sounds like a full lean out re-org as a result...

---

I think you are absolutely correct.

I work for an operator, and we've dealt with BP for more than 15 years for leases for their onshore minerals. The last 5 years have been brutal due to having to deal with 17 different people when it really on takes 2. We've had meetings with them that took 3 hours because the "fat" in the room needed to justify their role on that particular team by asking nonessential questions that had no bearing on the project overall.

Ramrod said:

---

I received an email from a recruiter with Baker Hughes to set up a phone interview. Is there anyone here with Baker Hughes that can shed some light on what it's like over there right now? Or what could be expected as GE sells off their shares? Thanks!

---

Don't work for BHGE but do quite a bit of business with them. It's messy to say the least. Lots of people jumping ship and moving around. A lot of the legacy GE folks jumped over to GE Power or other BU's that will be around.

Shoot me a PM if you don't mind. Interested to hear what area they are hiring in.

This will be their GWO org...offshore wells organization. Speaking from a major service supplier point of view, this is good. And probably won't be as much as it should be.

59 South said:

---

It's in about 2 weeks around 8/1 ish and about half of one of their BUs (few hundred I'd assume). Long time coming and wouldn't necessarily blame it on the offshore market. Things are actually looking somewhat positive for 2019 and beyond.

The real story is that after Harvey and their flooded buildings with no one coming in, they realized how fat they actually were and how a large portion of their workforce just made up work for themselves. It opened upper management's eyes to the fact they've been scammed for years by staff making up unnecessary things to do. Sounds like a full lean out re-org as a result...

---

Harvey may have had something to do with it but this has been brewing for quite a while. Management has known since at least 2014 that it needed to do a major fat trimming. The Lower 48 group was the first to undergo a complete restructuring and the learnings from that are going to be spread across the whole organization. I was in L48 from 2013 to 2017 and we went from a 2500 person organization to 1000 in less than 18 months without divesting any assets. Lots of "irreplaceable" folks and "critical" roles were gone and forgotten about in pretty short order.

When they brought in some blood from an independent producer to lead they realized how lean and nimble things could be done .

So I'm hearing it might be worth it to toss some funds on BP since they'll be shedding a few hundred MM in costs.

The announcement was made a month or two ago, so I'm sure it's already priced in.

From what I've seen, most within the organization knew they were bloated but either couldn't or didn't want to do anything about it.

Does BP still have "commercial" advisors stuck in the middle of operating teams? The problem with corporate bloat is that mgmt gets used to countless reports to cover their back side. It's a different thing making quicker decisions w less than perfect data set that hasn't been analyzed and re-analyzed by 5 levels

Services is what shows up on the initial search results. AMO (Assembly, Maintenance, Overhauls) is referred to a couple times in the job description but never identified as a clear group/business unit.

Not sure what role you're applying for but they're doing some shuffling around and making people reapply for their jobs while also having them open to external.

Anybody hearing any new info out of the Louisiana Austin Chalk play?

AggieOil said:

---

Anybody hearing any new info out of the Louisiana Austin Chalk play?

---

Last I heard was in February and it looked pretty exciting

Ive heard EOG's well has basically tanked but not sure if true

A thread on Politics about liberals infiltrating the industry to ruin it.

https://texags.com/forums/16/topics/2963547

AggieOil said:

---

Ive heard EOG's well has basically tanked but not sure if true

---

I was working that trend a short time ago. I heard the same thing.

There was some major action on the acreage around that well.., it will be interesting to see what happens.