PXD's Legal/Contingency FN will double in size....
Houston..we have a problem....
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Last: 3 days ago by Bibendum 86
Don't go too far here, anything can be rationalized as long as you control the narrative.aduey06 said:
Even Joe Biden thinks that's a conflict of interest.
Dan Scott said:
While XOM maintains the dividend, quality companies getting gobbled up.
Who exactly would XOM buy to move the needle? Look at their scale as is.
XOM should not buy anyone.
Yup. XOM has already made their bed with XTO for better or worse. They are all in on Guyana to be the next big thing.
Makes sense operationally but the father / son dynamic just comes off in bad taste.
Good luck to any Parsley folks.
I've always thought Cimarex would've been the first to go, but now we'll see. The game of musical chairs is in full force now so wouldn't want to be left stranded when the music stops.
Good luck to any Parsley folks.
I've always thought Cimarex would've been the first to go, but now we'll see. The game of musical chairs is in full force now so wouldn't want to be left stranded when the music stops.
Agreed.Quote:
but the father / son dynamic just comes off in bad taste.
I don't have anybody specific in mind. My concern is that XOM has put itself in a position where an acquisition is now not possible. CVX was able to acquire Noble at a discount, COP acquired CXO, and now PXD bought PE. All these assets are half of what they were at the beginning of the year. When the rebound occurs, XOM will be looking to get back to even where others have bought low and taking advantage.PeekingDuck said:Dan Scott said:
While XOM maintains the dividend, quality companies getting gobbled up.
Who exactly would XOM buy to move the needle? Look at their scale as is.
Looking at the map it would make sense for Matador and Cimarex to merge, but between management no way would Jordan or Foran be willing to give up their seat.
That or CLR purchasing MRO.
That or CLR purchasing MRO.
The Pioneer/Parsley deal is apparently on. Is this significant for mineral rights owners?
jja79 said:
The Pioneer/Parsley deal is apparently off. Is this significant for mineral rights owners?
Where are you seeing that it's off? It was just announced an hour ago that a deal has been agreed upon? Not necessarily significant for mineral rights owners, operations will most likely continue as is for now.
It's not particularly significant for mineral owners. Possible they will drill your acreage sooner or later due to the deal, but that could happen even without a deal.
I think he meant "on" - he posted it right when their press release came out.
K_P said:
I think he meant "on" - he posted it right when their press release came out.
Yeah, that would make more sense since he was asking about affect on mineral owners.
I would say they may be paying fair value now and acreage in Permian was a complete smoke and mirror concept
There is value in some acreage. Permian guys milked that pretty hard. People like matador paying $80k an acre, lol
Yes- great acreage would trade at 10-12K today, maybe tad more.
You seem to state that a lot, so I ask: When did you see the bubble? 2Q-19? Sooner? What triggered the realization? Honestly curious if you saw something early, or if you're just pointing out the bubble in hindsight.Cyp0111 said:
I would say they may be paying fair value now and acreage in Permian was a complete smoke and mirror concept
Concho cube failure was basically a shot at large scale tightly spaced development. That blew the value prop for the high acreage valuations.
Also, spend enough time across various levels in capital stacks and basins to start to realize that we were spacing too closely and well type curves were suffering.
Also, spend enough time across various levels in capital stacks and basins to start to realize that we were spacing too closely and well type curves were suffering.
The odd thing about Dominator was how absolutely stupid it was. There is no way the volumetrics could've supported what they did and it was way more aggressive than anyone's base development configuration and yet it served as this great signal that the Permian cube was a sham.
It's a very visible output. When acreage prices resulted in an absolute floor of 16 but more or less 24 when you have poor results and start seeing pretty consistent p/c issues and underperformance. It becomes rather apparent that the spacing expectations to justify certain price levels was in fact unrealistic.
Who was the second high bidder in that BLM auction that Matador bought acreage in at $80k/acre? Anyone know? The way those auctions work on EnergyNet, there had to have been another bidder at $79k/acre (maybe even tighter) - I don't think any of that auction was sealed bid.
The $80K was an outlier and the BLM had better splits. I'm more or less making fun of the companies that paid $50K an acre to enter a basin they had no clue what they were doing (looking your way Oasis).
I did some land work on the acreage Oasis bought. When we heard the price they paid, I was happy for my client, but definitely wondered wtf Oasis was thinking.
Cimarex and Blue Devil Explorationtopher06 said:
Who was the second high bidder in that BLM auction that Matador bought acreage in at $80k/acre? Anyone know? The way those auctions work on EnergyNet, there had to have been another bidder at $79k/acre (maybe even tighter) - I don't think any of that auction was sealed bid.
Cimarex could've taken the blow, but can't imagine Blue Devil would be in a good spot. I was actually impressed with how quickly Matador was able to get wells in on the acreage (even if it was too late), the New Mexico BLM can take a year just to issue a lease after an auction is won.CrazyRichAggie said:Cimarex and Blue Devil Explorationtopher06 said:
Who was the second high bidder in that BLM auction that Matador bought acreage in at $80k/acre? Anyone know? The way those auctions work on EnergyNet, there had to have been another bidder at $79k/acre (maybe even tighter) - I don't think any of that auction was sealed bid.
Yep, and then another 6 months to get an approved APD.
CXO has dropped below $45. Is COP dragging it down
I'd think it more as COP temporarily propped it up. It's back down to about where it was prior to the announcement.
But, the market is pretty much down overall, CXO isn't an outlier.
But, the market is pretty much down overall, CXO isn't an outlier.
Sounds like Parsley has already announced what their severance package will be. Going to lay-off majority of workforce prior to closing.
txaggie_08 said:
Sounds like Parsley has already announced what their severance package will be. Going to lay-off majority of workforce prior to closing.
The Austin location closing up shop?
It really does not make sense on a go forward.
Yes.
Any details on their severance? Wonder how it compares to PXDs recent package.
the_batman26: I guess yall need this, its something to take pride in. At least the Feds trusted us with the Space Center; and I seem to recall the Feds not having the best time in Dallas.
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