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Maroon Elephant
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10:53a, 3/1/22
AG
$105
TexAgs Firestorm Survivor
11.25.23
#NeverForget
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MAROON
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In reply to Maroon Elephant • 11:26a, 3/1/22
AG
$106
What do you boys want for breakfast BBQ ?.....OK Chili.
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SpreadsheetAg
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12:02p, 3/1/22
AG
https://oilprice.com/Energy/Crude-Oil/White-House-Quietly-Calls-On-US-Oil-Companies-To-Increase-Production.html

White House to Oil Producers: "Nevermind our actual policies that are putting a damper on oil exploration and production activities. If you want, you should produce more...."
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BrokeAssAggie
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In reply to SpreadsheetAg • 12:11p, 3/1/22
SpreadsheetAg said:
https://oilprice.com/Energy/Crude-Oil/White-House-Quietly-Calls-On-US-Oil-Companies-To-Increase-Production.html

White House to Oil Producers: "Nevermind our actual policies that are putting a damper on oil exploration and production activities. If you want, you should produce more...."


No kidding. How about you give us our BLM permits we have been waiting on for over a year!
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techno-ag
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12:34p, 3/1/22
AG
Watch what Biden does, not what he says.
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.

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fta09
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In reply to topher06 • 1:20p, 3/1/22
AG
topher06 said:
I would say it is extremely difficult to break into the PE space as a new management team right now, particularly if your entire team has no track record. There are quite a few good to very good teams out there either looking for assets with backing from existing PE shops or looking for funding from a PE shop. If you're going to break in, it is probably through someone like Carnelian or Post Oak.

You'll need line of sight to an existing asset, probably paying PDP at a high discount and paying nothing for upside (but it needs to have upside). You're also going to need a pretty robust business plan for running an operating company.

The days of PE management teams are sort of drying up, although there has been a bit of resurgence recently. For a while, the market was heading towards the PE shops trying to internalize a lot of the management team functions. That's what I've been seeing anyway.
Interesting timing, as Enverus just emailed me a PE update. In the Permian in 2022, there are 144 PE backed E&Ps. Two have formed in 2022. There are 439 total US PE backed E&P companies in the US plays, and 5 have formed so far this year.
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MAROON
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In reply to fta09 • 1:21p, 3/1/22
AG
seems like a really bad time to form if you believe in the old adage "buy low, sell high"
What do you boys want for breakfast BBQ ?.....OK Chili.
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one MEEN Ag
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In reply to MAROON • 2:47p, 3/1/22
AG
MAROON said:
seems like a really bad time to form if you believe in the old adage "buy low, sell high"
PEs believe moreso in the old adage, 'a fool and his money are soon parted'
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Comeby!
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In reply to MAROON • 3:01p, 3/1/22
AG
MAROON said:
seems like a really bad time to form if you believe in the old adage "buy low, sell high"


Getting a lot of inbounds of 'you want to buy us?'. Uh no.
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Ulrich
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In reply to one MEEN Ag • 6:11p, 3/1/22
one MEEN Ag said:
MAROON said:
seems like a really bad time to form if you believe in the old adage "buy low, sell high"
PEs believe moreso in the old adage, 'a fool and his money are soon parted'

A lot of fools have been parted from their money several times over the last decade. Charlie Brown will line up for another attempt if crude stays here long enough.
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Dan Scott
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6:24p, 3/1/22
AG
ExxonMobil announces they will begin pulling out of Russia. I'm wondering how all this is going get done. More importantly, if Kazakhstan joins Russia, I find it hard to believe CVX and XOM walk away from TCO.

https://exxonmobil.co/3K4Tqmk
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gigem1223
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In reply to Dan Scott • 6:43p, 3/1/22
Do I hear $150 WTI? I'm on the service side with a company that has assets there. We took a hit on WS today despite oil jumping. Interested to see how this plays out.
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BCG Disciple
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In reply to Dan Scott • 7:00p, 3/1/22
AG
Dan Scott said:
ExxonMobil announces they will begin pulling out of Russia. I'm wondering how all this is going get done. More importantly, if Kazakhstan joins Russia, I find it hard to believe CVX and XOM walk away from TCO.

https://exxonmobil.co/3K4Tqmk

Sakhalin has been a cash go. Hopefully this is just for PR and the exit period takes a decade and a half.
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gigem1223
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7:15p, 3/1/22
Total halting capital spending in Russia as well.
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DripAG08
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8:59p, 3/1/22
AG
WTI at $110!
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techno-ag
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In reply to DripAG08 • 11:38p, 3/1/22
AG
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Comeby!
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In reply to DripAG08 • 12:02a, 3/2/22
AG
AustinAg008 said:
WTI at $110!


Signed a deal to acquire at $65/bbl. Close on Monday.
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Cyp0111
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In reply to Comeby! • 7:01a, 3/2/22
Hopefully u didn't hedge at psa closing
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BrokeAssAggie
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7:07a, 3/2/22
What are deals going for per flowing barrels? $50k/boe?
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Goose06
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In reply to Comeby! • 8:33a, 3/2/22
AG
That oil spike won't help you much if you are buying Haynesville acreage.
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Comeby!
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In reply to Goose06 • 8:58a, 3/2/22
AG
Goose06 said:
That oil spike won't help you much if you are buying Haynesville acreage.

Not haynesville. These jokers had nearly at year of inventory. Not hedged.
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BlackGoldAg2011
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9:52a, 3/2/22
AG
Daily high price for WTI so far is $112.47. Highest since May 3, 2011

If you ignore internships, that makes this the highest oil price I have seen in my professional career...
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twilly
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9:57a, 3/2/22
AG
Thought I'd add this for reference. WTI 80 year history.
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Maroon Elephant
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2:43p, 3/2/22
AG
WTI at $112
TexAgs Firestorm Survivor
11.25.23
#NeverForget
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atmtws
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2:42a, 3/3/22
AG

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Agswinning
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In reply to atmtws • 5:46a, 3/4/22
Wonder what it's going to do when Europe and US announce a ban on Russian oil today.
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Farmer1906
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8:34a, 3/4/22
AG
How high do we get? I think we're going to set some records this year. $150? $200? I don't think it's crazy.
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miller0926
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In reply to Farmer1906 • 8:41a, 3/4/22
AG
Farmer1906 said:
How high do we get? I think we're going to set some records this year. $150? $200? I don't think it's crazy.
And less than 2 years ago we got down to negative 40. This is incredible
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Cyp0111
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8:42a, 3/4/22
I really do see levels that high and it's not good for the industry. Only service side fanboys think it's a good thing.
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GarlandAg2012
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9:04a, 3/4/22
AG
This will definitely cause demand destruction if it stays like this longer than a couple months.
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DripAG08
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In reply to GarlandAg2012 • 9:26a, 3/4/22
AG
GarlandAg2012 said:
This will definitely cause demand destruction if it stays like this longer than a couple months.
Get ready for that government gas stimulus check.....
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ChemAg15
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10:26a, 3/4/22
AG
I don't think I need a stimulus check. These prices are pretty stimulating if you know what I mean.
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terradactylexpress
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In reply to Cyp0111 • 4:12p, 3/4/22
Service side would just get crushed on prices then too. It's a no win industry
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wessimo
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7:20p, 3/4/22
AG


Let's goooo
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gigem1223
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In reply to Cyp0111 • 11:56p, 3/4/22
Cyp0111 said:
I really do see levels that high and it's not good for the industry. Only service side fanboys think it's a good thing.


Extremely shortsighted take. Service side has taken it in the pants for years now. Most reputable service companies just want some sort of stability. Supply chain is a nightmare currently. Yes we're making money…finally…but don't act like operators are suffering.
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