Oscar Wyatt...there's a name I haven't heard in a long time!
Houston..we have a problem....
7,314,433 Views |
28750 Replies |
Last: 19 hrs ago by Bibendum 86
Natural gas highest since 2008
jetch17
Joined:
Feb 5, 2002
Posts:
91,052
How long do you want to ignore this user?
Over $8 now
You scared it, back down to $7.8. None of this really matters though as long as the tail remains depressed - that has improved quite a bit, but still just like $4. Should clarify - doesn't result in much increased production.jetch17 said:
Over $8 now
The tail lifting up to $4 makes economic decisions pretty easy for most operators vs. the backwardation we say late last year.
Doesn't look like Biden can convince the Saudis to pump more oil...
https://www.foxnews.com/politics/white-house-quits-asking-saudis-more-oil-verbal-dust-up-top-official
https://www.foxnews.com/politics/white-house-quits-asking-saudis-more-oil-verbal-dust-up-top-official
This may be a shot in the dark but does anyone on here know of someone that would stock or could get some Mobil Aero HF fluid (4 55 gallon drums) within a week or so?
agdaddy04 said:
This may be a shot in the dark but does anyone on here know of someone that would stock or could get some Mobil Aero HF fluid (4 55 gallon drums) within a week or so?
I could potentially get you a Shell equivalent if you need it
Anyone here work with an E&P in the regulatory side ? Interviewing for a role and my background is in ops and could use a couple of pointers. TIA
What type of regulatory? I'm in environmental but work across the isle with regulatory quite often.
I am not directly involved in regulatory but my company is on the pipeline side. Happy to help.
They are trying to burn that bridge so that they can get an Iran Nuke dealLRHF said:
Doesn't look like Biden can convince the Saudis to pump more oil...
https://www.foxnews.com/politics/white-house-quits-asking-saudis-more-oil-verbal-dust-up-top-official
Deplorable Neanderthal Clinger
Aeroshell? I did send that information to Denver Water to see if they'll approve. Sometimes they can be pretty picky. I noticed it has extremely similar properties though. I'll be in touch if they approve.
Edit. Wrong thread
agdaddy04 said:
Aeroshell? I did send that information to Denver Water to see if they'll approve. Sometimes they can be pretty picky. I noticed it has extremely similar properties though. I'll be in touch if they approve.
Yeah I used to work for that part of Shell so can put you in touch with someone if needed, just let me know
I manage a team of nine direct reports which provide support to multiple GeoUnits across North America but the problem is each of these GeoUnits is having major attrition issues and every time someone leaves they add headcount to my team to account for the increase in work scope.
Management keeps plugging the holes with inexperienced hires with the expectation that my team will cover the workload until a new hire is trained up but the problem is the people getting replaced are leaving with decades of historical knowledge and my team is now functioning as the primary when previously we were a support function and not considered or expected to be a subject matter experts for each particular GeoUnit and/or product line.
This week two colleagues, in critical roles, submitted their resignations and word has already come down that their workflow will be coming to my team.
Prior to these resignations I would describe the situation as unsustainable as we had reached a point of not enough hours in the day, and the work that is getting done is significantly suffering in quality.
I have a retention bonus that pays out in July but with the numbers I'm hearing from recruiters I'm not sure if it's worth waiting for the payout.
So I guess my question is if the writing is on the wall and I don't expect things to improve, should I just get out now or is it possible to take advantage of the situation being the last man standing?
Management keeps plugging the holes with inexperienced hires with the expectation that my team will cover the workload until a new hire is trained up but the problem is the people getting replaced are leaving with decades of historical knowledge and my team is now functioning as the primary when previously we were a support function and not considered or expected to be a subject matter experts for each particular GeoUnit and/or product line.
This week two colleagues, in critical roles, submitted their resignations and word has already come down that their workflow will be coming to my team.
Prior to these resignations I would describe the situation as unsustainable as we had reached a point of not enough hours in the day, and the work that is getting done is significantly suffering in quality.
I have a retention bonus that pays out in July but with the numbers I'm hearing from recruiters I'm not sure if it's worth waiting for the payout.
So I guess my question is if the writing is on the wall and I don't expect things to improve, should I just get out now or is it possible to take advantage of the situation being the last man standing?
If, In general, you like you company/team/boss but feel under paid definitely give them the chance to keep you. Tell them what would keep you around (title and comp) and anything else is below Current market and you have no choice but to look for other options. Seems like with the attrition you have a good shot a getting what you want assuming it's supportable.
Mostly will be working with drilling, completions, and production making sure drilling and completion paperwork are correct and submitted to agencies.
Where do yall see rig counts going this year if we maintain >$100/bbl oil?
Had someone tell me that $100 isn't magical anymore ... would need to see $125 for another boomElAmericano said:
Where do yall see rig counts going this year if we maintain >$100/bbl oil?
jagvocate said:Had someone tell me that $100 isn't magical anymore ... would need to see $125 for another boomElAmericano said:
Where do yall see rig counts going this year if we maintain >$100/bbl oil?
Until the supply chain issues resolve you will not see a big increase in rig counts.
I've seen multiple industry reports and the consensus was 725 - 740 rigs at the end of the year. THat's crazy to me, but we are in crazy times right now.
725 isn't that crazy to me. That's only like 5% higher than we are right now, no?
End of year rig count should be pretty easy for the plugged in industry guys to capture. If it's going to happen by the end of the year, long lead items have likely already been sourced and secured. If you're still on the fence, I'd be thinking 2023 is way more likely then end of year.
End of year rig count should be pretty easy for the plugged in industry guys to capture. If it's going to happen by the end of the year, long lead items have likely already been sourced and secured. If you're still on the fence, I'd be thinking 2023 is way more likely then end of year.
Yeah at 695 today 725-740 doesn't seem shocking to me.
jagvocate said:Had someone tell me that $100 isn't magical anymore ... would need to see $125 for another boomElAmericano said:
Where do yall see rig counts going this year if we maintain >$100/bbl oil?
On our way this morning
Putting aside supply chain and finance issues, wondering how long mental barriers to expanding will last. After a while people are going to start realizing they're leaving money on the table. Or, in the ground as it were.Premium said:jagvocate said:Had someone tell me that $100 isn't magical anymore ... would need to see $125 for another boomElAmericano said:
Where do yall see rig counts going this year if we maintain >$100/bbl oil?
On our way this morning
This is nothing new. "It's different this time," but it's always the same.
umm, finance/shareholder and supply chain are the barriers. I think you see more A&D than full throttle drilling holes.
I agreed they are barriers in my post. My point is aside from that I think there's a mental barrier in stakeholders at o&g. Sometimes the mindset can be a higher obstacle than practical considerations.Cyp0111 said:
umm, finance/shareholder and supply chain are the barriers. I think you see more A&D than full throttle drilling holes.
yes- i see and talk to that side regularly. It's quite simple for mgmt. teams, if you grow too much or what is considered recklessly by either your equity or debt holders you're out.
Yup. Eventually $100+ barrels are going to start whittling those attitudes down. The longer high oil stays with us the more people are going to start looking for ways to drill.Cyp0111 said:
yes- i see and talk to that side regularly. It's quite simple for mgmt. teams, if you grow too much or what is considered recklessly by either your equity or debt holders you're out.
There is just so much uncertainty in oil and gas right now and it is scaring folks away (from drilling, investing, having any part in the process, etc.):
Supply chain issues
Employment issues
ESG concerns for public companies to consider before increasing rig count, well count or production (co2 emissions)
Must work within cash flow
Institutional investors and other high-worth individuals who are flat out saying they won't be a part of private equity funds or other capital raising ventures that invest in oil and gas.
Strip pricing is backdated.
20-30% commodity price fluctuations on a weekly basis over the last 4 months.
Even folks who have money and are currently looking for assets are having a hard time finding banks that are willing to hedge.
A lot of people got burned over the past 10 years in oil and gas investments.
Still a lot of risk when other investment opportunities have been more risk adverse with better returns.
I mean, I feel like I'm just barely scratching the surface here, without even mentioning the current political environment, war, public sentiment of o&g or the ability for the world to "shutdown" again due to another covid scare. So much risk and uncertainty for most to feel comfortable coming back into this space regardless of "current" commodity pricing.
Just my 2 cents.
Supply chain issues
Employment issues
ESG concerns for public companies to consider before increasing rig count, well count or production (co2 emissions)
Must work within cash flow
Institutional investors and other high-worth individuals who are flat out saying they won't be a part of private equity funds or other capital raising ventures that invest in oil and gas.
Strip pricing is backdated.
20-30% commodity price fluctuations on a weekly basis over the last 4 months.
Even folks who have money and are currently looking for assets are having a hard time finding banks that are willing to hedge.
A lot of people got burned over the past 10 years in oil and gas investments.
Still a lot of risk when other investment opportunities have been more risk adverse with better returns.
I mean, I feel like I'm just barely scratching the surface here, without even mentioning the current political environment, war, public sentiment of o&g or the ability for the world to "shutdown" again due to another covid scare. So much risk and uncertainty for most to feel comfortable coming back into this space regardless of "current" commodity pricing.
Just my 2 cents.
What's the going rate for company men these days?
I heard $2k/day in West TX (drilling).
I heard $2k/day in West TX (drilling).
Is there really that much of a labor shortage?
Featured Stories
See All
SEC Round-Up: Odds of coaching changes remain ever-changing
by Olin Buchanan
38:19
44m ago
405
Pick 'Em & Rip 'Em sponsored by PrizePicks: Week 10
by Matthew Dawson
49:28
10m ago
196
FTM, Ep. 68: Salary conversation as coaching carousel prepares to spin
by FollowTheMoney
66:34
19h ago
5.3k