Oh i was talking about actual paper charts.
That's what the pencil is used for.Sea Speed said:
I'm sure there's an easier way but an up to date nautical chart should have them.
Refinery seems like an odd choice, but I'm guessing not a whole lot of other businesses to attract that will invest big $$ into development of a piece of property significantly adding to the property tax base. I think a refinery carriers a big risk of it getting tied up in permitting and never really getting started.CenterHillAg said:
Potential Wharton County Refinery
Any of y'all heard about/know details of this project? I'm not in the industry and don't have any knowledge of the people involved with the company. Just sounds like a lot of smoke and mirrors, and wouldn't be the first time the local government entities would have fallen for that type of thing.
Everything might work out if the price keeps going up.JP_Losman said:
the capital dried up just as the companies were finally able to exclusively drill within cashflow.
and the ones that couldn't figure it out, by and large no longer exist. and if we get another sustained oil price high, we will see a lot more companies set up shop that will be in the same boat and during the next slump, a couple may have made it work and survive, but the rest will get drug out back and put down just like this time. because everyone preaches capital discipline until you have $100 oil and 200% IRRs staring them in the face.JP_Losman said:
the difference is this time around the companies are actually capable of drilling within cashflow.
in 2014 probably no shale company was capable of drilling within cashflow to keep production flat
CenterHillAg said:
Potential Wharton County Refinery
Any of y'all heard about/know details of this project? I'm not in the industry and don't have any knowledge of the people involved with the company. Just sounds like a lot of smoke and mirrors, and wouldn't be the first time the local government entities would have fallen for that type of thing.
This is called top grading and it will quickly separate the wheat from the chaff. This killed Australia's gold mines. There was a slump in gold prices, they were reduced to only mine their best ore, which meant they were selling their easiest gold for the worst prices. When they ran out of the easy stuff, it was a huge wall of extra cost to extract the less plentiful ore. They had to wait until prices rose again.Cyp0111 said:
Game is different. No money to drill fringe acreage. Best remaining wells now
my question though is how long of >$80-$90 oil does it take before dumb money returns to O&G investing. my guess is that it happens faster than any of us would expect. because once the dumb money returns, we (as an industry) can go right back to drilling fringe acreage. Sure the smart ones drilling within cash flow wont, but dumb money makes dumb choices.Cyp0111 said:
Game is different. No money to drill fringe acreage. Best remaining wells now
I know this opinion got **** on last time, but I think it's entirely reasonable for companies to gradually increase capital spend at these prices. I don't think anybody should open the flood gates and ramp up to the crazy annual budgets we saw previously.BlackGoldAg2011 said:my question though is how long of >$80-$90 oil does it take before dumb money returns to O&G investing. my guess is that it happens faster than any of us would expect. because once the dumb money returns, we (as an industry) can go right back to drilling fringe acreage. Sure the smart ones drilling within cash flow wont, but dumb money makes dumb choices.Cyp0111 said:
Game is different. No money to drill fringe acreage. Best remaining wells now
Joseph Parrish said:I know this opinion got **** on last time, but I think it's entirely reasonable for companies to gradually increase capital spend at these prices. I don't think anybody should open the flood gates and ramp up to the crazy annual budgets we saw previously.BlackGoldAg2011 said:my question though is how long of >$80-$90 oil does it take before dumb money returns to O&G investing. my guess is that it happens faster than any of us would expect. because once the dumb money returns, we (as an industry) can go right back to drilling fringe acreage. Sure the smart ones drilling within cash flow wont, but dumb money makes dumb choices.Cyp0111 said:
Game is different. No money to drill fringe acreage. Best remaining wells now
Premium said:Joseph Parrish said:I know this opinion got **** on last time, but I think it's entirely reasonable for companies to gradually increase capital spend at these prices. I don't think anybody should open the flood gates and ramp up to the crazy annual budgets we saw previously.BlackGoldAg2011 said:my question though is how long of >$80-$90 oil does it take before dumb money returns to O&G investing. my guess is that it happens faster than any of us would expect. because once the dumb money returns, we (as an industry) can go right back to drilling fringe acreage. Sure the smart ones drilling within cash flow wont, but dumb money makes dumb choices.Cyp0111 said:
Game is different. No money to drill fringe acreage. Best remaining wells now
But can't you basically lock in these prices through hedging at least a few years out? Should make it easy to budget.
casing/tubing or line pipe? Because I just locked down some decent prices on some line pipe from trident steel. haven't bid out casing or tubing in a while thoughAustinAg008 said:
The steel market is absolutely bonkers right now. If anyone knows of any 4.5" or 5.5" for a "DECENT" price I'm all ears on this one.
Same with gas, curve is backwardated as hell. Can't really hedge into a drilling program beyond 1 or maybe 2 years.Birdbear said:Premium said:Joseph Parrish said:I know this opinion got **** on last time, but I think it's entirely reasonable for companies to gradually increase capital spend at these prices. I don't think anybody should open the flood gates and ramp up to the crazy annual budgets we saw previously.BlackGoldAg2011 said:my question though is how long of >$80-$90 oil does it take before dumb money returns to O&G investing. my guess is that it happens faster than any of us would expect. because once the dumb money returns, we (as an industry) can go right back to drilling fringe acreage. Sure the smart ones drilling within cash flow wont, but dumb money makes dumb choices.Cyp0111 said:
Game is different. No money to drill fringe acreage. Best remaining wells now
But can't you basically lock in these prices through hedging at least a few years out? Should make it easy to budget.
Can't really lock in current prices when the futures curve is backwardated to the $60s
JP_Losman said:
Are the shale companies replacing these higher quality reserves fast enough?
I see a map full of sticks in the best zones in most counties in the Permian. I wonder what
actual inventory of high return locations realistically looks like.
Multiple other zones may be prospective, but so far most haven't been as good as Wolfcamp A and B