BourbonAg said:

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Are they in Reeves? Was thinking they were focused on other parts of the Delaware.

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Advance has a small position in Ward and their main position is up in New Mexico. I really doubt Callon is buying Advance.

Goose06 said:

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Wild rumor of the day... Callon about to announce a Delaware acquisition. Initially heard "a public company is set to announce an acquisition of a private Reeves county operator" and everyone but Callon who is set to release earnings today has already done so (CDEV, Oxy, and Devon).

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It's Primexx

don't think the market would react very positively to Callon making an acquisition unless it involves zero debt.

Goose06 said:

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BourbonAg said:

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Are they in Reeves? Was thinking they were focused on other parts of the Delaware.

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Advance has a small position in Ward and their main position is up in New Mexico. I really doubt Callon is buying Advance.

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Thanks, that what I thought.

CrazyRichAggie said:

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I've heard Advance deal should be announced any day now.

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I've heard it's CDEV, which is a natural fit from a footprint prospective, but surprised they could take it down if true.

Drillbit4 said:

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Goose06 said:

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Wild rumor of the day... Callon about to announce a Delaware acquisition. Initially heard "a public company is set to announce an acquisition of a private Reeves county operator" and everyone but Callon who is set to release earnings today has already done so (CDEV, Oxy, and Devon).

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It's Primexx

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That seems like a massive deal for Callon. Surprised BX would want CPE equity and thats the only way that deal happens.

Drillbit4 said:

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CrazyRichAggie said:

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I've heard Advance deal should be announced any day now.

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I've heard it's CDEV, which is a natural fit from a footprint prospective, but surprised they could take it down if true.

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CDEV buying Advance, right?

proudaggie02 said:

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Drillbit4 said:

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CrazyRichAggie said:

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I've heard Advance deal should be announced any day now.

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I've heard it's CDEV, which is a natural fit from a footprint prospective, but surprised they could take it down if true.

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CDEV buying Advance, right?

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CDEV makes more sense for Primexx than CPE. CPE buying Primexx makes no sense.

I believe Kimmeridge has some convertible debt in Callon. If they could buy someone with equity and get Kimmeridge to convert they could improve their balance sheet through an acquisition. Not sure what type of acquisition would make Kimmeridge want to convert their debt to equity though. Callon has a debt problem right now.

Someone buying Advance makes sense. I think Jefferies is marketing them right now.

TxAg20 said:

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I believe Kimmeridge has some convertible debt in Callon. If they could buy someone with equity and get Kimmeridge to convert they could improve their balance sheet through an acquisition. Not sure what type of acquisition would make Kimmeridge want to convert their debt to equity though. Callon has a debt problem right now.

Someone buying Advance makes sense. I think Jefferies is marketing them right now.

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Good call on the Kimmeridge angle

https://www.callon.com/news/news-releases/detail/334/callon-petroleum-to-acquire-primexx-to-build-upon-delaware

Goose06 said:

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TxAg20 said:

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I believe Kimmeridge has some convertible debt in Callon. If they could buy someone with equity and get Kimmeridge to convert they could improve their balance sheet through an acquisition. Not sure what type of acquisition would make Kimmeridge want to convert their debt to equity though. Callon has a debt problem right now.

Someone buying Advance makes sense. I think Jefferies is marketing them right now.

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Good call on the Kimmeridge angle

https://www.callon.com/news/news-releases/detail/334/callon-petroleum-to-acquire-primexx-to-build-upon-delaware

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Have to give Callon credit for getting creative to stay in the game and buy another company.

NexTier acquiring Alamo

https://investors.nextierofs.com/2021-08-04-NexTier-Announces-Agreement-to-Acquire-Alamo-Pressure-Pumping

OTC in Houston will be at NRG August 16-19 2021.

Lots of people going and exhibiting.

Should be interesting...

I'm supposed to be there for NAPE 18th - 20th but curious if my trip gets cancelled with freakin Covid restrictions returning to our office.

I really miss going to NAPE

gigem1223 said:

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NexTier acquiring Alamo

https://investors.nextierofs.com/2021-08-04-NexTier-Announces-Agreement-to-Acquire-Alamo-Pressure-Pumping

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This is kind of interesting to me. Alamo has more of a reputation, at least from my understanding, of buying used equipment. Granted it seems they do maintain the equipment and spend a lot to upgrade the used equipment, going tier II to tier IV dual fuel, etc. NexTier seems to tout having all new and state of the art equipment.

Either way, T&P to all Alamo employees.

txaggie_08 said:

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I'm supposed to be there for NAPE 18th - 20th but curious if my trip gets cancelled with freakin Covid restrictions returning to our office.

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We've decided to pass this year. Our most valuable conversations are outside the exhibits and we aren't seeing many of those materializing.

I have 2 conferences coming up in Florida (AGA) and North Carolina (SGA)... I am not really worried about the conferences being cancelled more than I am the attendance being extremely light due to employer restrictions. Feedback so far is that everyone is excited to be out and about and it is going to be well attended. We shall see though...

Compared to a typical year.., I'm not expecting much from OTC this year. The main hall may be 2/3 full and that's it. Add in employer restrictions and raising cases/media focus and this is recipe for the least attended/least exhibited ever. At this point i've about decided this is more about funding OTC as an organization and the various vendors who have been crushed over the last 1 1/2 years than anything else hope I'm wrong.

ttha_aggie_09 said:

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I have 2 conferences coming up in Florida (AGA) and North Carolina (SGA)... I am not really worried about the conferences being cancelled more than I am the attendance being extremely light due to employer restrictions. Feedback so far is that everyone is excited to be out and about and it is going to be well attended. We shall see though...

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Dug Permian and Eagle Ford was in Fort Worth a few weeks ago and attendance was excellent, fwiw

That is what I heard from the people I know on the upstream side of things. We're more transmission and regulated midstream so DUG has a very small representation of the type of people we work with.

I'll be surprised if OTC gets to 2/3 capacity. They are not updating the exhibitor map as there are several companies that have cancelled booths and still show as active on the floor map. In addition, every person must sign a COVID liability waiver to enter the facility. This is turning away both exhibitors and attendees.

You my very well be correct... we have had to change our booth location 3 times in the last 3-4 months as they keep moving things around due to withdrawals/lack of sign up leading to compression of the exhibitors. The very last map I saw was 2/3ish (main hall only) but again that was early June.

If any of you are still looking for work, I definitely recommend still attending these conferences for networking purposes.

EXCLUSIVE-BIDEN ADMINISTRATION WEIGHS 2050 TARGET FOR AIRLINES TO FLY ON 100% JET FUEL FROM RENEWABLE SOURCES -SOURCES

— *Walter Bloomberg (@DeItaone) August 10, 2021

What a coinkidink. That's the same year I had them running on fairy dust.

Irish 2.0 said:

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EXCLUSIVE-BIDEN ADMINISTRATION WEIGHS 2050 TARGET FOR AIRLINES TO FLY ON 100% JET FUEL FROM RENEWABLE SOURCES -SOURCES

— *Walter Bloomberg (@DeItaone) August 10, 2021

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So still hydrocarbon based field, just those produced in a laboratory instead of being taken from the ground? Am I reading that right?

it's easy to throw something out there you know has not functional way to be achieved.

My plant has a small biodiesel unit and some of our customers have been asking us about renewables, I'm no expert, but I've done a little bit of reading on the subject. Renewable fuels are made from the same sort of feedstocks as biofuels (plant oils, waste grease, animal fats), but hydrogenation is the reactive pathway to create the fuels instead of transesterfication. Renewable fuels are somewhat easier to handle than biofuels post production and don't generate glycerin as part of the process, so there's fewer sidestreams to deal with. The thoughts from my customers are that renewable fuels will be cheaper in the long run and the market will be shifting that way over the next decade.

Other than price, what competitive advantage would renewable fuels have versus oil and natural gas? They would still produce CO2 when burned, correct?

None yet. They aren't market competitive without government subsidies call RINS. Renewable fuels do burn cleaner than petroleum based fuels if you burn them in a petri dish, but I don't think that really matters in an optimized combustion system like a modern engine. I believe the push has more to do with cutting O&Gs out of the supply chain since the feed is mostly plant based with a little bit of animal fat thrown into the mix.

And of course, given the feed for bio and renewable fuels, you wind up competing against food supplies, which drives up prices for the fuel and for the dinner table. Palm oil is a great example, it was what the industry was going to run off of after soy oil became uneconomical, but the price has just continued to rise and now I'm talking to people about processing cashew oils and brown grease (waste oils from fast food restaurants).

The issue i see if pressuring food supply which has multiple down the line impacts plus you're still using natural resources to get the renewable product. However, it's virtue signaling deluxe

I didn't realize renewable jet fuel was a thing (even in concept). Biodiesel has been around for a long time, but jet fuel?