AustinAg008 said:
Damn. Double Eagle making a fortune off the Sheffield's....
The Sheffield's (Jr.) are also making a fortune off the Sheffield's.
Houston..we have a problem....
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Last: 1 day ago by Bibendum 86
The Sheffield's (Jr.) are also making a fortune off the Sheffield's.
Amazon sells far more cardboard.Boat Shoes said:culdeus said:Not O&G but we leased timber to IP (thru Crown) for decades, and Amazon bought out the lease at what the manager said was a stupid premium. They want downstream control of their paper products.Joseph Parrish said:
Has anybody here worked with Amazon for anything relating to oil and gas?
This might be what is driving lumber prices up. Though I haven't seen one news outlet say Amazon is pulling trees bound for framing into boxes yet.
Could be books. I think they sell books.
I like the feeling of knowing that people in this thread know things.
under appreciated joke right herelb3 said:Amazon sells far more cardboard.Boat Shoes said:culdeus said:Not O&G but we leased timber to IP (thru Crown) for decades, and Amazon bought out the lease at what the manager said was a stupid premium. They want downstream control of their paper products.Joseph Parrish said:
Has anybody here worked with Amazon for anything relating to oil and gas?
This might be what is driving lumber prices up. Though I haven't seen one news outlet say Amazon is pulling trees bound for framing into boxes yet.
Could be books. I think they sell books.
Kind of got a lukewarm reception today from the sources I follow, stock was down 7.5% but almost everyone was down today.CrazyRichAggie said:
Done deal
http://www.rbcrichardsonbarr.com/IndustryResearch/News.aspx?a=news&ticker=a&w=&story=202104bwire01005969r1.xml
Ag CPA said:Kind of got a lukewarm reception today from the sources I follow, stock was down 7.5% but almost everyone was down today.CrazyRichAggie said:
Done deal
http://www.rbcrichardsonbarr.com/IndustryResearch/News.aspx?a=news&ticker=a&w=&story=202104bwire01005969r1.xml
Does anyone know if the asset had significant minerals associated with it?
If all the acreage has ~25% burdens then it seems like a very high price tag. If they owned a bunch of the minerals it might make more sense.
77-78% NRIs. Some minerals were in DoublePoint but there are also some minerals they bought separately that weren't sold.
Was Double Point 50% DE and 50% Four Point?
60% DE, 40% FP. $2.3B of equity in the business thus far.
2.3 equity, $900MM in debt. So $3.2 bln invested give or take. Getting close to 2.0x (i may be wrong as do not have all in invested economics) is still good in this environment when most of value was attributed to acreage.
I'm a fan of consolidation on these type of private names and then pulling back rigs.
I'm a fan of consolidation on these type of private names and then pulling back rigs.
Gig-Em2003 said:
60% DE, 40% FP. $2.3B of equity in the business thus far.
Wow $2.3B in equity???
Anyone here with Apache? I've talked to them about a position in houston and would like some insight
yep - it was a real company
I think if anything it will be interesting to watch. The theory was proven out that you have to get production scale along with inventory to get a real company to buy you. A lot of risk, they heavily invested downcycle and rode the commodity wave up while hitting pretty good on ofs and tubular costs.
They took a big risk and it paid off. Will be interesting to see if others follow suit (granted, only a handful with acreage position)
They took a big risk and it paid off. Will be interesting to see if others follow suit (granted, only a handful with acreage position)
Agree. Tap Rock, and Ameredev could be next in line. Would be much smaller deal than Double EagleCyp0111 said:
I think if anything it will be interesting to watch. The theory was proven out that you have to get production scale along with inventory to get a real company to buy you. A lot of risk, they heavily invested downcycle and rode the commodity wave up while hitting pretty good on ofs and tubular costs.
They took a big risk and it paid off. Will be interesting to see if others follow suit (granted, only a handful with acreage position)
would be curious if the 2.3 bln in equity number is correct. for some reason i though it was lower. Still a lot of risk to take to get a 2x multiple and majority of payout in stock with what is likely a lockup.
Stock as a currency from the stronger E&Ps really should allow for some good buys to happen, im not sure Double eagle is one of them. If anything, this shows that COP made and absolute steal with Concho.
Stock as a currency from the stronger E&Ps really should allow for some good buys to happen, im not sure Double eagle is one of them. If anything, this shows that COP made and absolute steal with Concho.
what does Apollo do with all that stock? Certainly their fund investors want a return from this sale of DE3.
Orderly sale? You mentioned lock up?
Orderly sale? You mentioned lock up?
Reading the public filings PXD has made thus far, it appears there won't be a lockup and that PXD has committed to orchestrating an underwritten secondary offering of the big shareholders (Apollo) ask them to. My guess is that's what will happen, with most of the other holders piggybacking on to it.
was the more likely otpion. wasnt sure how it would play out with the liquidiation.
Apollo needed something to offset some of their other misses.
Apollo needed something to offset some of their other misses.
Frac Co here - use AWS a lot
How are oil and gas internships being handled during Covid, especially last year? Didn't get any bites on my question on the academic board.
https://texags.com/forums/17/topics/3192502/
https://texags.com/forums/17/topics/3192502/
We cancelled our summer intern program last year. Not sure what we're doing this year. Early retirement has been offered to just about anyone over 62 and most are taking it so I'd think we'd want some young blood to fill in entry level positions as everyone shifts up the ladder.
ChemAg15 said:
We cancelled our summer intern program last year. Not sure what we're doing this year. Early retirement has been offered to just about anyone over 62 and most are taking it so I'd think we'd want some young blood to fill in entry level positions as everyone shifts up the ladder.
Nothing early about leaving at 62!
htxag09 said:
Anyone here with Apache? I've talked to them about a position in houston and would like some insight
Apache is a pretty terrible place. You have to be a sycophantic yes-man to succeed. Prior to them pulling the plus on the Alpine High debacle, multiple people were shown the door for daring to question its validity. Management is full of bullies who get a free pass because they are buddies with the CEO. Your work is constantly being questioned even after you've established credibility.
If you're currently unemployed, then I wouldn't turn them down. But if you already have something, I wouldn't leave for a toxic place like apa.
Comeby! said:
How are oil and gas internships being handled during Covid, especially last year? Didn't get any bites on my question on the academic board.
https://texags.com/forums/17/topics/3192502/
We still had interns last summer, but it was 100% virtual. Some were hired abs starting this summer.
I imagine this years interns will be in office.
We could use this at my place. I swear at times i feel like i work at a nursing home....ChemAg15 said:
We cancelled our summer intern program last year. Not sure what we're doing this year. Early retirement has been offered to just about anyone over 62 and most are taking it so I'd think we'd want some young blood to fill in entry level positions as everyone shifts up the ladder.
Your executive management knows this. They just don't want to pay out that much for early retirement and also lose that much knowledge at the same time.
Its going to be a slow attrition of letting people retire on their own and not taking any severance.
Its going to be a slow attrition of letting people retire on their own and not taking any severance.
Retirement package? What is that?one MEEN Ag said:
Your executive management knows this. They just don't want to pay out that much for early retirement and also lose that much knowledge at the same time.
Its going to be a slow attrition of letting people retire on their own and not taking any severance.
In a few months, it's going to be what I carry around in my drawers.Brad06ag said:Retirement package? What is that?one MEEN Ag said:
Your executive management knows this. They just don't want to pay out that much for early retirement and also lose that much knowledge at the same time.
Its going to be a slow attrition of letting people retire on their own and not taking any severance.
I would bet the $2.3B includes legacy equity invested into FourPoint.
I didn't say retirement. I said severance. Now if you work for Oxy, please submit your bid for the cheapest amount you will walk out the door for. You will be ranked and yanked accordingly.Brad06ag said:Retirement package? What is that?one MEEN Ag said:
Your executive management knows this. They just don't want to pay out that much for early retirement and also lose that much knowledge at the same time.
Its going to be a slow attrition of letting people retire on their own and not taking any severance.
What is a severance package?one MEEN Ag said:I didn't say retirement. I said severance. Now if you work for Oxy, please submit your bid for the cheapest amount you will walk out the door for. You will be ranked and yanked accordingly.Brad06ag said:Retirement package? What is that?one MEEN Ag said:
Your executive management knows this. They just don't want to pay out that much for early retirement and also lose that much knowledge at the same time.
Its going to be a slow attrition of letting people retire on their own and not taking any severance.
I'm on the contractor side of the world.... we don't get those.
PermianBasinAggie said:htxag09 said:
Anyone here with Apache? I've talked to them about a position in houston and would like some insight
Apache is a pretty terrible place. You have to be a sycophantic yes-man to succeed. Prior to them pulling the plus on the Alpine High debacle, multiple people were shown the door for daring to question its validity. Management is full of bullies who get a free pass because they are buddies with the CEO. Your work is constantly being questioned even after you've established credibility.
If you're currently unemployed, then I wouldn't turn them down. But if you already have something, I wouldn't leave for a toxic place like apa.
I never worked for Apache, but I just recently worked for a company run by ex-Apache people. I think they brought the same practices over. Meetings were definitely a different experience. Sometimes they were easy, but often times it felt like a fight.
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