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Houston..we have a problem....

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Joseph Parrish
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In reply to Fredd • 3:29p, 1/29/21
AG
Fredd said:
ttha_aggie_09 said:
While I suspect foreign actors are involved, I think the main driver is the economic feasibility of alternative energy. Until gas gets back to $4/gal+, renewables and alternatives don't have a chance, unless subsides are massive.


Do you all think fringe shale acreage is set to become more active once commodity prices rise? I'm thinking of plays like:

-SCOOP/Merge
-Central Texas EF
-Shallow Permian

Should be interesting to see how this plays out.


Scoop/Stack can be a serious pain in the ass. I'd get a few days notice and have to protect a ton of nearby wells from frac hits. I'd ask for more lead time on the notices, and that request was basically ignored every time. You can drill some great wells, but if you've got a high well count with another active operator nearby...you are in for a ride.
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Cyp0111
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In reply to Joseph Parrish • 3:40p, 1/29/21
yessir, where capital goes to die. some of the arkoma gas has held up better in my non engineer opinion
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Ag CPA
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In reply to Joseph Parrish • 5:11p, 1/29/21
AG
Joseph Parrish said:
Fredd said:
ttha_aggie_09 said:
While I suspect foreign actors are involved, I think the main driver is the economic feasibility of alternative energy. Until gas gets back to $4/gal+, renewables and alternatives don't have a chance, unless subsides are massive.


Do you all think fringe shale acreage is set to become more active once commodity prices rise? I'm thinking of plays like:

-SCOOP/Merge
-Central Texas EF
-Shallow Permian

Should be interesting to see how this plays out.


Scoop/Stack can be a serious pain in the ass. I'd get a few days notice and have to protect a ton of nearby wells from frac hits. I'd ask for more lead time on the notices, and that request was basically ignored every time. You can drill some great wells, but if you've got a high well count with another active operator nearby...you are in for a ride.
We had that same issue in the Eagle Ford, of course nobody is completing wells anymore so the problem has gone away for now.
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Ag CPA
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4:28p, 1/31/21
AG
Will also leave this here, XOM and CVX supposedly discussed a merger last year:

https://www.cnbc.com/2021/01/31/chevron-and-exxon-discussed-merger-last-year-after-covid-pandemic-devastated-oil-prices-reports-say.html
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DripAG08
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In reply to Ag CPA • 7:15p, 1/31/21
AG
Ag CPA said:
Will also leave this here, XOM and CVX supposedly discussed a merger last year:

https://www.cnbc.com/2021/01/31/chevron-and-exxon-discussed-merger-last-year-after-covid-pandemic-devastated-oil-prices-reports-say.html


Wow. Would hate to be in the transition team for that one.
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AggieOil
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In reply to Cyp0111 • 7:16p, 1/31/21
AG
Cyp0111 said:
The Oklahoma stuff has minimal upside given challenges with scale density tests on acreage and likely landing spot of 2-3 per pad.


Pretty broad brush statement there which isn't factually accurate.
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Cyp0111
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In reply to AggieOil • 8:01p, 1/31/21
it's a broad brush but seen a lot of the stuff up there. Some areas on the gassier side living up to type curves. But let's be honest, the scoop/stack is where capital and dream goes to die.
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AggieOil
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10:26p, 1/31/21
AG
Don't disagree that it's been capital dumpster fire for sure. That being said, show me a place where 2-3 wells per section is optimum spacing and what the economics look like for wells to properly contact that much volume.
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Cyp0111
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In reply to AggieOil • 10:51p, 1/31/21
It's not, its goat pasture but from operators up there seems like best you can hope for
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one MEEN Ag
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In reply to DripAG08 • 8:50a, 2/1/21
AG
AustinAg008 said:
Ag CPA said:
Will also leave this here, XOM and CVX supposedly discussed a merger last year:

https://www.cnbc.com/2021/01/31/chevron-and-exxon-discussed-merger-last-year-after-covid-pandemic-devastated-oil-prices-reports-say.html


Wow. Would hate to be in the transition team for that one.
Standard Oil, come on down!
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CheladaAg
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9:16a, 2/1/21
AG
AMZN looking bullish this am.
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topher06
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3:24p, 2/2/21
Only thing good about SCOOP/STACK is the lack of federal acreage. Wouldn't want to work for a SCOOP/STACK company.
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gigem1223
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7:20a, 2/5/21
$56+ WTI
$3+ NG

Is it bass boat time yet?
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aston158
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7:37a, 2/5/21
pretty wild last 12 months. WTI is basically where it was this time last year, and nat-gas is in much better shape.
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BrokeAssAggie
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7:40a, 2/5/21
I think we are at $60 by the end of February
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CaptTex
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8:22a, 2/5/21
AG
Found a MD Cowan super single for sale, anyone want in?
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fta09
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In reply to gigem1223 • 8:30a, 2/5/21
AG
Buying a Raptor this weekend
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one MEEN Ag
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In reply to aston158 • 8:54a, 2/5/21
AG
From its lowest point in April, oil has risen $100.

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Ag CPA
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In reply to gigem1223 • 10:03a, 2/5/21
AG
gigem1223 said:
$56+ WTI
$3+ NG

Is it bass boat time yet?
No, but probably creeping into Yeti cooler time.
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one MEEN Ag
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10:07a, 2/5/21
AG
Anyone want a builder grade home in Midland for $180 a sq ft? Get in now before prices go up!
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AGTX
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In reply to fta09 • 10:30a, 2/5/21
AG
There's a humvee for sale outside a house on Wadley Ave--the thirteen year old me that lives somewhere inside of me wanted to pull over just to see the price...
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BourbonAg
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In reply to AGTX • 10:38a, 2/5/21
AG
And now I have to drive by and see it...thanks for that.
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Gig-Em2003
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4:00p, 2/5/21
AG
Oil price makes no sense at all. If we're going to rationalize mid-$50's oil then this should be the price until we're back to a supply-constrained environment which is multiple years away. I don't get it.
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Cyp0111
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In reply to Gig-Em2003 • 4:17p, 2/5/21
I think people are overestimating how little appetite there is in the L48 to grow unconventional. You have consolidation and pledges of capital control from the big independents and CVX and XOM are fortifying balance sheets and will let market run some and payoff debt.
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ChemAg15
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In reply to Gig-Em2003 • 5:06p, 2/5/21
AG
Gig-Em2003 said:
Oil price makes no sense at all. If we're going to rationalize mid-$50's oil then this should be the price until we're back to a supply-constrained environment which is multiple years away. I don't get it.


All I'm hearing is $100/bbl by summer
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Rustys-Beef-o-Reeno
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In reply to ChemAg15 • 5:09p, 2/5/21
AG
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Gig-Em2003
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In reply to Cyp0111 • 5:43p, 2/5/21
AG
Cyp0111 said:
I think people are overestimating how little appetite there is in the L48 to grow unconventional. You have consolidation and pledges of capital control from the big independents and CVX and XOM are fortifying balance sheets and will let market run some and payoff debt.
There are 7 MMBbls/day sidelined right now. Why are oil prices rising so much...
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simplified
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In reply to one MEEN Ag • 5:44p, 2/5/21
AG
one MEEN Ag said:
From its lowest point in April, oil has risen $100.

it has risen indeed
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KaneIsAble
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7:36p, 2/5/21
AG
Heard DNOW laid off essentially it's entire midstream sales group today. Makes no sense considering the crude uptick.
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Cyp0111
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In reply to Gig-Em2003 • 8:12p, 2/5/21
It's in the front, I think it's a $ issue.
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FalconAg06
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In reply to KaneIsAble • 3:13p, 2/11/21
KaneIsAble said:
Heard DNOW laid off essentially it's entire midstream sales group today. Makes no sense considering the crude uptick.


They also laid off about 70 of their drilling segment employees as well, have heard they are pretty much exiting the drilling supply market.
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CaptnCarl
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In reply to KaneIsAble • 6:36p, 2/11/21
AG
I think DNOW is approaching the midstream market as a packaged equipment supplier now rather than a material/PVF supplier. They acquired some equipment packagers year ago.

Commodity materials are just too competitive these days, as I imagine is the drilling supply market as well. Private equity really surged the supply market from just the local mom and pop shops.
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ChemAg15
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6:06p, 2/12/21
AG
Natural gas is trading for $140+/MMBTU at Katy hub today. Natural gas demand is nuts right now.
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Rustys-Beef-o-Reeno
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6:10p, 2/12/21
AG
Ercot go boom
Thoughts and prayers for Griddy subscribers
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wessimo
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In reply to ChemAg15 • 6:18p, 2/12/21
AG
ChemAg15 said:
Natural gas is trading for $140+/MMBTU at Katy hub today. Natural gas demand is nuts right now.


Wow
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