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Houston..we have a problem....

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aggie028
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7:38p, 7/21/18
I heard EOG is quietly marketing a chunk of the acreage near the well and keeping some they think is still prospective. The data on the well doesn't look good
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techno-ag
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2:38p, 7/23/18
AG
More predictions of rising prices:

https://www.washingtonexaminer.com/policy/energy/expert-makes-the-case-for-400-per-barrel-oil
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SidetrackAg
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In reply to techno-ag • 2:48p, 7/23/18
AG
techno-ag said:
More predictions of rising prices:

https://www.washingtonexaminer.com/policy/energy/expert-makes-the-case-for-400-per-barrel-oil


I'm sure next week they will release an article about the impending crash in the oil market, and $10/barrel
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nu awlins ag
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In reply to techno-ag • 10:23a, 7/24/18
AG
In Europe, that is what almost half the autos run on. I could see higher fuel costs, but higher oil? Not sure. Plenty of oil just not enough refineries making it. Again, these cats can't predict tomorrow much less next year.
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drill4oil78
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In reply to Wiggletrace • 2:14p, 7/24/18
AG
Wiggletrace said:
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.
That is what happens when you deal with a process driven organization. They can check boxes, but they can't think out of the box.
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AggieOil
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In reply to aggie028 • 10:28p, 7/24/18
AG
aggie028 said:
I heard EOG is quietly marketing a chunk of the acreage near the well and keeping some they think is still prospective. The data on the well doesn't look good


Checked the production on this well today. Started out pretty strong at 1000 bopd for first two months but has been on a serious decline and is down to around 200 bopd in like 6 months. Given the crazy depth of the Austin Chalk in that area and the size of the job, I have to think the economics are pretty challenged. Tough break for the companies who used the "follow EOG for scraps" approach to leasing.
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jetch17
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8:51a, 7/25/18
AG
Talking to some COP folk at URTeC, they are very much watching the EOG results and not feeling so great leading up to the beginning of thier drilling program coming up in September.
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Wiggletrace
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1:11p, 7/25/18
AG
Anyone know anything about this:

Patterson Rig 289 in Big Spring, TX:






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RABAg04
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1:20p, 7/25/18
AG
Heard it was from equipment, not a blowout.

no injuries

Edit: Here's a link
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SpreadsheetAg
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In reply to Wiggletrace • 3:37p, 7/25/18
AG
Wiggletrace said:
Anyone know anything about this:

Patterson Rig 289 in Big Spring, TX:






I know the previous Drilling Superintedent of that rig... He left Patterson a month or two ago, though.
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jetch17
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7:45p, 7/26/18
AG
As expected, BHP assets to BP officially announced for $10.8B

https://www.bhp.com/media-and-insights/news-releases/2018/07/sale-of-onshore-us-assets
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aduey06
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8:08a, 7/27/18
I wonder how many people are going to move over with the sale. What do they do with the brand new building on post oak?
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nu awlins ag
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9:30a, 7/27/18
AG
They still do mining, so I'm sure they will keep some and probably lease out the rest I would assume.
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Comeby!
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9:01p, 7/27/18
AG
Confirmed BP layoff. Big numbers


Edit: wrong icon.
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Southside AG
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In reply to Comeby! • 9:15a, 7/28/18
AG
Still in line with this article?

https://www.google.com/amp/s/www.bizjournals.com/houston/news/2018/05/22/bp-to-cut-more-than-500-upstream-jobs.amp.html
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sts7049
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9:16a, 7/28/18
AG
interesting they announced that right after announcing the purchase
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Comeby!
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In reply to Southside AG • 11:50p, 7/28/18
AG
Southside AG said:
Still in line with this article?

https://www.google.com/amp/s/www.bizjournals.com/houston/news/2018/05/22/bp-to-cut-more-than-500-upstream-jobs.amp.html


GOM offshore is a huge number. Not quite 50%
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In reply to Ramrod • 7:23p, 7/29/18
Whitetail
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6:08a, 7/30/18
AG
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Whitetail
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6:09a, 7/30/18
AG
wrong thread.
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Ramrod
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In reply to [removed post] • 8:48a, 7/30/18
AG
Do you mind if I send you an email asking some questions? If you'd rather not post your email you can shoot me one at ramrodtxag at gmail, and then I'll email you from my personal account. If not, no problem at all but I'd really appreciate it.
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Matteus
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10:10a, 7/30/18
AG
Rumor mill is that it's not just Upstream expecting hits. Oct time frame. IT&S
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In reply to Ramrod • 10:32a, 7/30/18
Cyp0111
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In reply to Matteus • 10:41a, 7/30/18
I thought the trading group posted strong results?
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Gordo14
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In reply to Matteus • 10:52a, 7/30/18
Matteus said:
Rumor mill is that it's not just Upstream expecting hits. Oct time frame. IT&S


A friend that works there is expecting to hear tomorrow apparently. But they are supposed to continue working for 60 days after if they do get let go.
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GarlandAg2012
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7:14a, 7/31/18
AG
https://finance.yahoo.com/news/northern-oil-gas-inc-announces-110000686.html

Edit: Hadn't caught up on the past few posts, don't want to come across as a dick to those hanging in the balance with BP. My bad.
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aggie028
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In reply to GarlandAg2012 • 7:58a, 7/31/18
Sounds like a solid 2x+. Congrats!
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Comeby!
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In reply to GarlandAg2012 • 11:29a, 7/31/18
AG
GarlandAg2012 said:
https://finance.yahoo.com/news/northern-oil-gas-inc-announces-110000686.html

.


We closed our biggest operated position yesterday but opted not to tell everyone what we paid. The element of surprise is a very effective tool. We may not be able to keep the next smaller deal under wraps.
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GarlandAg2012
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In reply to Comeby! • 11:39a, 7/31/18
AG
Not sure a public company has the option to not disclose this acquisition when they're issuing equity for it. But we definitely agree re: keeping quiet.
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Charlie Murphy
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12:42p, 7/31/18
What are you guys hearing with BP Layoffs?
Welcome to the China Club

"Here's the pitch...POPPED it up! Oh man, that wouldn't be a home run in a phone booth."
-Harry Carey
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Comeby!
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In reply to Charlie Murphy • 2:57p, 7/31/18
AG
Charlie Murphy said:
What are you guys hearing with BP Layoffs?


I understood today was the day. If not tomorrow.
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htxag09
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7:50a, 8/1/18
AG
Anyone have information on current HP in the frac market, HP utilization, etc. or a source they would share?
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MavsAg
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9:29a, 8/1/18
AG
My company tracks frac fleets pretty closely. Our latest numbers were 452 active crews with 165 of those in the Permian. For reference that's down from 467 in June, but up from 399 at the beginning of the year.
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Charlie Murphy
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9:33a, 8/1/18
Guesses on what BP will be divesting to pay for the BHP purchase? GOM assets?
Welcome to the China Club

"Here's the pitch...POPPED it up! Oh man, that wouldn't be a home run in a phone booth."
-Harry Carey
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Westicles
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In reply to MavsAg • 9:51a, 8/1/18
AG
How do y'all actually track that? Just hit the phones of pressure pumping salesman for all companies? Because it's not uncommon for us smaller operators to frac a bunch of wells then not for a couple months. I would think that creates some pretty wild swings in the total frac crew numbers.
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