BiochemAg97 said:

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Sea Speed said:

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I am pretty sure that the second person there at the bottom thinks 1. That natural gas and gasoline are the same thing and 2. That it comes out of the ground ready to go straight to the gas station.

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Natural gas is gasoline formed in nature. All those refineries are producing artificial gasoline.

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… resulting in manmade global warming.

Not just a comparison about O&G friendly/unfriendly...that's the only chart you'd ever need to express the benefit of energy independence for the US.

Sims said:

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Not just a comparison about O&G friendly/unfriendly...that's the only chart you'd ever need to express the benefit of energy independence for the US.

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The benefit of not relying on exports that are subject to geopolitical whims is very apparent. But our limited ability to export NatGas to Europe also plays a big role in the spread. If we had infinite capacity to export to Europe, the local cost would rise to be close to the global price (adjusted for costs of delivery).

WTI- Brent spread is a lot more stable because of the capacity to export our excess. WTI would drop significantly relative to Brent if our excess exceeded our export capacity.

Of course, transportation has costs, so being energy independent (producing more than we need) means we are always discounted to those who rely on exports.

$93, oil slumps on China slowdown

Premium said:

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$93, oil slumps on China slowdown

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Yea, the day after we send some bidders on a sales process to the second round. F me.

Comeby! said:

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Premium said:

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$93, oil slumps on China slowdown

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Yea, the day after we send some bidders on a sales process to the second round. F me.

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You looking around in ETX again?

been there done that. Strange A&D market for sure.

ThreeFive said:

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Comeby! said:

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Premium said:

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$93, oil slumps on China slowdown

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Yea, the day after we send some bidders on a sales process to the second round. F me.

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You looking around in ETX again?

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The deal I'm talking about is our MS company.

We are quietly leasing in the MidCon right now.

CHK to exit the Eagleford

https://www.bloomberg.com/news/articles/2022-08-02/chesapeake-energy-to-exit-eagle-ford-shale-in-hard-pivot-to-gas

Premium said:

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Comeby! said:

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Premium said:

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$93, oil slumps on China slowdown

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Yea, the day after we send some bidders on a sales process to the second round. F me.

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Back up to $95. We're on the border between Lariat and Platinum, and I'm voting for Platinum.

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$91…

Wonder how the gathering agreements work on the CHK acreage. Always a present experience for the acquirers.

Anyone know about this? Paywall

Summary: Southern Rock seeks to build $5.5b refinery in Victoria tx

https://www.bizjournals.com/houston/news/2022/08/05/southern-rock-refinery-bloomington.html

Random question: work for a new company that bought a site that used to be a oil field parts supplier, both making and re-selling imported 'stuff'.

Is there a good place to sell potentially left over stuff? All tenants are slated to move out near the end of the year. If the trend continues from the one tenant has left already and left 80% of their stuff, is it easy to sell oilfield stuff? Some of it is labeled and waiting (hydraulic unit or VFD motors), some of it is, I would assume, more specific parts (swivel and block/tackle).

And one complete water/oil 18-wheeler truck.

~egon

There are companies that help sell stuff for you - Network International was a prominent one in the oilfield. Haven't used them in a while though.

Are these items new or used?

agdaddy04 said:

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Are these items new or used?

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Some of the stuff is new; it has been sitting in a field for a while. Other stuff I believe is used.

~egon

Denbury putting itself up for sale.

https://www.bloomberg.com/news/articles/2022-08-17/denbury-is-said-to-explore-options-including-sale

RethinkTheWeekend said:

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Anyone know about this? Paywall

Summary: Southern Rock seeks to build $5.5b refinery in Victoria tx

https://www.bizjournals.com/houston/news/2022/08/05/southern-rock-refinery-bloomington.html

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I know a little - met the project leader when he was looking for EF crude supply to the Victoria site. That was a year and a half ago or so. More or less wants to build a new refinery w/latest and greatest emissions tech that's built to process EF and west texas gravities. Would set up multi modal outbound by truck, rail, and a possible pipe connect back to Houston.

Whole thing is entirely dependent on federal funding grants from DOE (last I heard). Pitch deck has some a lot of fluff on expanding for green hydrogen production, renewable diesel, etc. but none of that has a runway IMO.

Sounds like a dream

Interesting news about Buffett having approval to buy up to 50% of Oxy.

https://stocks.apple.com/A808tPIrQQKOwexw78h4m8A

Comeby! said:

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Comeby! said:

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Premium said:

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Comeby! said:

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Premium said:

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$93, oil slumps on China slowdown

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Yea, the day after we send some bidders on a sales process to the second round. F me.

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Back up to $95. We're on the border between Lariat and Platinum, and I'm voting for Platinum.

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Speaking of voting....I may come to this group for a favor in the next 10 days. Especially you SPE members.

I hear Texags never loses a poll... Will share more when I can.

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Voting has opened.

If you are an active SPE member, please consider voting for me for the SPE Board of Directors. I'm the only Aggie running.....against a sip. So I'd hate to take that L.

Also add me on LinkedIn, would be good to connect IRL.

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Did you win?

As they say on the Premium Board...

VORED!

Thank you!

Nat Gas pushin $10

Booooo!

For our fantasy football league, draft order is based on closest guess to closing price of WTI on Thursday Sept 1... Anyone have some predictions to help me out? Guesses are due by 5pm today...

Tree-fiddy

(Don't use my guess you will draft last; however I was 12 in draft order last year and won my league because I got Jonathan Taylor so you never know)

As usual, I guess it is the kiss of death ... my bad.