If it is handled like an onshore federal lease, the full amount of the bonus is paid within a couple of days following the sale. However, it can take the BLM years (usually months) to actually issue the lease. I cannot confirm this is the case with an offshore lease, but I am 100% certain this is how it is handled onshore.BiochemAg97 said:The claim by the environmentalists is that the govt didn't do all it needed to do regarding consideration of environmental impact. Standard claim in these types of cases. Judge agreed and said the sale was invalid. Also, the govt hasn't activated the leases yet, so it isn't like anyone has been "working" them. (I'm sure time has been spent planning on working them). Not sure if "not activating" is a standard processing delay or an intentional delay tactic by the Biden administration who was basically told by the court that they couldn't halt the sale.slavy06 said:
https://www.reuters.com/world/us/us-judge-annuls-gulf-mexico-oil-lease-sale-over-climate-impact-2022-01-28/
Federal judge decides to cancel the November lease sale in the GOM. Any lawyer types care to share some insight on how that would be within his bounds?
It is likely going to be appealed before all is said and done, so they just sit there.
I'm curious when a company has to pay for the lease. Is it upon completion of the auction or upon activation of the lease? Assuming the leases involve upfront cash and not just bidding on what % of barrels produced.
Houston..we have a problem....
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Last: 1 day ago by Bibendum 86
they must be shedding off some older legacy stuff
Looks like just non-core CBP & NM acreage on the shelf
Probably some of the wells I grew up fracing. Good memories cruising around Loco Hills and Maljamar doing vertical work.
Here we go again. (Maybe.)
https://www.wsj.com/amp/articles/the-case-for-100-oil-more-driving-less-drilling-11643247290
https://www.wsj.com/amp/articles/the-case-for-100-oil-more-driving-less-drilling-11643247290
I think that, to be very honest with you, I do believe that we should have rightly believed, but we certainly believe that certain issues are just settled.
- Kamala Harris
Vote for Trump.
He took a bullet for America.
- Kamala Harris
Vote for Trump.
He took a bullet for America.
Natural gas back above $5
Dan Scott said:
Natural gas back above $5
Strip is still laughably low
Earthstone with another pickup in the Southern Midland Basin
https://seekingalpha.com/news/3793407-earthstone-energy-to-buy-midland-basin-assets-in-860m-deal
Bighorn Permian (old Sable assets)
https://seekingalpha.com/news/3793407-earthstone-energy-to-buy-midland-basin-assets-in-860m-deal
Bighorn Permian (old Sable assets)
Exxon may be saying adios to Irving HQ. There enough room at The Woodlands to absorb the HQ?
*EXXON WEIGHS MOVING HEADQUARTERS TO HOUSTON FROM IRVING, TEXAS$XOM
— *Walter Bloomberg (@DeItaone) January 31, 2022
*Exxon Mobil to Reorganize With Three Business Lines --WSJ
— *Walter Bloomberg (@DeItaone) January 31, 2022
*Exxon Mobil Sees Reorganization Effective April 1 --WSJ
*Exxon Mobil Sees No Layoffs as Part of Reorganization --WSJ$XOM
The HQ only had 300-400 people.
Gotcha. Wasn't aware of that. I'm not really in industry.Cyp0111 said:
The HQ only had 300-400 people.
Thanks
It was a weird setup from day 1. Exxon making good moves across the front.
the market for multi million dollar homes in The Woodlands just got a lot hotter...as did spots at Carlton Woods...also might impact Bluejack I guess
What do you boys want for breakfast BBQ ?.....OK Chili.
It made sense prior to Woodlands campus being built. They had offices all over so a separate HQ made sense. Now that everything is in Houston, not so much.
I wouldn't be surprised to see Chevron follow.
I wouldn't be surprised to see Chevron follow.
Exxon saying it sees no layoffs probably should have an asterisks next to it. There will be more culling of the bottom 1/3rd as well as flight from the top performers.
This will be musical chairs for the layers of management that are above the centers but below the executive suite.
I wonder how many people from HQ just can't give up dallas to move to houston. I bet there's quite a few.
This will be musical chairs for the layers of management that are above the centers but below the executive suite.
I wonder how many people from HQ just can't give up dallas to move to houston. I bet there's quite a few.
older folks close to retirement age will retire. I'm assuming the others at HQ are the high flyers in the corporation - they will move unless they get picked off by other public companies in DFW.
Would imagine support staff in Irving will probably not move - assuming their spouse has a better (higher paying) job in DFW.
But ya I bet they have factored in 20% to leave.
Would imagine support staff in Irving will probably not move - assuming their spouse has a better (higher paying) job in DFW.
But ya I bet they have factored in 20% to leave.
What do you boys want for breakfast BBQ ?.....OK Chili.
Some of the support staff do well. I know of a couple who are 6 figure salary and not at retirement age.
As long as Chevron has significant operations in California I think the HQ will remain there for political reasons.Dan Scott said:
It made sense prior to Woodlands campus being built. They had offices all over so a separate HQ made sense. Now that everything is in Houston, not so much.
I wouldn't be surprised to see Chevron follow.
Will be curious how many people actually relocate from Irving in the coming year, a lot of those jobs are back-office (HR, accounting, finance, IT, GC).
Didnt know oil and gas had back office, lol.
Only engineers think they're front office equivalent. Which, given what that means, well.
Only engineers think they're front office equivalent. Which, given what that means, well.
How many people are still left in Irving?
250-300
What do you boys want for breakfast BBQ ?.....OK Chili.
Wow. Surprised it took this long. I can't imagine many relo.
It's my understanding that a lot found out by reading a release and managers were shocked as well.
Cyp0111 said:
Didnt know oil and gas had back office, lol.
Only engineers think they're front office equivalent. Which, given what that means, well.
What do you mean?
Front office/back office is generally a term in bank/financial services to distinguish between pnl/customer facing roles and support staff. Oil and gas firms dont really have that setup.
You must be new. He frequently takes passive jabs at engineers leadership and business decision making ability.
Let's be clear. Engineers are terrible capital allocators.
Cyp0111 said:
Let's be clear. Engineers are terrible capital allocators.
Funny. I personally know more CEOs that are engineers than not. Makes a difference in this industry when you actually know how things work.
Eh, I think most O&G with a trading presence have exactly the front office/back office setup.Cyp0111 said:
Front office/back office is generally a term in bank/financial services to distinguish between pnl/customer facing roles and support staff. Oil and gas firms dont really have that setup.
Yes- the trading arms, which, is a completely different animal and more akin to merchant trading firm. For oil and gas producer it is a very very small cut of the overall ecosystem.
no back office means built in excuse to slow pay vendors
What do you boys want for breakfast BBQ ?.....OK Chili.
The oil and gas forms I've worked at have all the normal back office positions, that's why I asked.
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