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Houston..we have a problem....

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Gordo14
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In reply to Cyp0111 • 11:05p, 10/19/22
Cyp0111 said:
I'd operators want price certainty they can hedge at levels slightly above the Biden floor.

I don't see anyone ramping capex over this.


Yep. It will only come from a change in investor sentiment (at least on from the publics). Those sweet, sweet variable dividends will have to go away - at least partially - before capex ramps up. But I doubt that happens while the whole supply chain is still ****ed.
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Sims
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8:17a, 10/20/22
AG
If he wanted to signal his sincerity, Biden would have fired Sec. Granholm yesterday.
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Cyp0111
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9:09a, 10/20/22
I don't think any public can grow in earnest, the private boys are slowing down since not getting valuation like they thought for drilling. They have the newer vintage wells/type curves to get what little value they're getting for sticks.
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Bob Knights Paper Hands
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In reply to topher06 • 9:53a, 10/20/22
topher06 said:
No one gives a **** what Biden says, he will just pull the plug whenever it is convenient

This. The administration is still saying they want to neuter the domestic oil industry, which gives concerns for any medium to long term developments. Risks of windfall profits tax and other taxes to lower short term returns still exist as well. Hits to investor base and lenders from politicians demonizing oil companies for too much profits without discussing the heavy capex spend and debt load it took to get those profits. IMO until those intentions go away any ramp up has serious downside political risks even in a high priced environment.
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techno-ag
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In reply to Cyp0111 • 11:30a, 10/20/22
AG
Cyp0111 said:
I don't think any public can grow in earnest, the private boys are slowing down since not getting valuation like they thought for drilling. They have the newer vintage wells/type curves to get what little value they're getting for sticks.
If we get up to 125+ WTI this winter, those attitudes may change.
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AgLA06
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In reply to techno-ag • 12:09p, 10/20/22
AG
We were at $120 this summer and it didn't. No sane person is going to risk overleveraging while the government uses the EPA as a gatekeeper and green initiative requirements to withhold money from financial institutions.
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Cyp0111
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In reply to techno-ag • 12:11p, 10/20/22
Yah man, not happening. The willingness to do that anywhere across the capital stack is non-existent. This summer has helped further reinforce that.
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techno-ag
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4:29p, 10/20/22
AG
Well maybe so. I did see increased work on oil wells this summer around here. Some dormant pump jacks started up again at $120.

But at some point I just can't imagine everybody is going to hang up their cleats and go home. There's money in the ground. The price gets up there and the little guys will find a way to extract it.
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Comeby!
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5:43p, 10/20/22
AG
If you have equity, there's some great deals to be had right now.
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Bob Knights Paper Hands
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In reply to techno-ag • 8:35p, 10/20/22
I don't think anyone is saying no development - I think we'll continue to see drilling and workovers continue. I don't think there will be some massive ramp up in development, though, like I'd normally expect with high prices.
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Pahdz
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9:13p, 10/20/22
Back in Houston for the weekend with the fam and hit the museum of natural science today for the first time since probably junior high. Really enjoyed the energy hall on the fourth floor (for a non-O&G guy). My wife said it best when she said to me "we should get this exhibit traveling to Minnesota (where we live) and other lib states so they can have a basic understanding of how this industry works"
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Cyp0111
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In reply to Comeby! • 9:43p, 10/20/22
Getting that equity commitment to buy anything of aize is super hard these days. Debt isn't too much easier.
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DripAG08
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9:11a, 10/21/22
AG
WAHA back to $2.50?

Alpine High is not back…
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ChemEAg08
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9:20a, 10/21/22
AG
XOM selling Billings refinery to Par Pacific.

https://corporate.exxonmobil.com/news/newsroom/news-releases/2022/1020_exxonmobil-to-sell-billings-refinery-to-par-pacific-holdings
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Comeby!
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10:55a, 10/21/22
AG
Gas in freefall. Nearly $2 in a week.
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Brush Country Ag
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In reply to Comeby! • 12:21p, 10/21/22
AG
Comeby! said:
Gas in freefall. Nearly $2 in a week.


Do you think it will turn up after election?
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techno-ag
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In reply to Comeby! • 6:51p, 10/21/22
AG
Comeby! said:
Gas in freefall. Nearly $2 in a week.
Time to load up on BOIL.
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CheeseSndwch
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8:31a, 10/24/22
Schlumberger has rebranded itself to SLB.
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cajunaggie08
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In reply to CheeseSndwch • 10:09a, 10/24/22
AG
Going the A&M route I see with having your name be letters that used to serve as an abbreviation but now no longer mean anything.
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Ag CPA
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In reply to CheeseSndwch • 12:25p, 10/24/22
AG
Knowing Schlumberger I would not be surprised if this was a cost-cutting move to save on signage.
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AgLA06
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In reply to Ag CPA • 12:45p, 10/24/22
AG
Ag CPA said:
Knowing Schlumberger I would not be surprised if this was a cost-cutting move to save on signage.
Funny.

However, you want to know how I know you've never had to consider corporate facilities and their costs?
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Ag CPA
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In reply to AgLA06 • 12:58p, 10/24/22
AG
I'm the CFO of a public company so I think about them a little but probably not as much as SLB does.
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AgLA06
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In reply to Ag CPA • 1:07p, 10/24/22
AG
I'm just joking. It would cost exponentially more to replace all existing signage and marketing material with the new brand (even if shorter) than you would save with shorter signage for years moving forward.

I think Comeby! hit the nail on the head below.
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Comeby!
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1:14p, 10/24/22
AG
They are planting their flag in the sand early on being an energy transition tech company, at least in marketing.
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AgLA06
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In reply to Comeby! • 1:38p, 10/24/22
AG
They're probably more visible because of the overall size of the company and reach. Some of their competitors in Subsea did that a year or 2 ago.

From FMC Technologies -> TechnipFMC -> Spun off Technip Energies
https://www.technipenergies.com/

https://www.akerenergy.com/

I imagine most will even if it has nothing to do with reality.
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cajunaggie08
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In reply to Comeby! • 3:44p, 10/24/22
AG
Comeby! said:
They are planting their flag in the sand early on being an energy transition tech company, at least in marketing.
Yup. I am on the big blue payroll and they have activities all week long to hammer home the point that the company is a technology company rather than a oil-field service company. It just so happens that the vast majority of the company's income comes from the technology to service the oil field. The swirl on the new logo is supposed to be a graph showing the company's carbon output over time. The new name/logo will be on the left field wall at Minute Maid Park for the World Series.
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htxag09
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In reply to cajunaggie08 • 3:46p, 10/24/22
AG
So if the Astros lose its all Schlumbergers fault for ****ing with good juju? See if they get anymore work from me….
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cajunaggie08
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In reply to htxag09 • 8:17a, 10/25/22
AG
Haha that was the first thought that crossed my mind as well.
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PeekingDuck
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In reply to Comeby! • 3:06p, 10/25/22
AG
They going to partner with Ovintiv?
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Gordo14
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12:53p, 10/31/22
Looking forward to a well-reasoned and fact-based press conference this afternoon.
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one MEEN Ag
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In reply to cajunaggie08 • 2:10p, 10/31/22
AG
cajunaggie08 said:
Comeby! said:
They are planting their flag in the sand early on being an energy transition tech company, at least in marketing.
Yup. I am on the big blue payroll and they have activities all week long to hammer home the point that the company is a technology company rather than a oil-field service company. It just so happens that the vast majority of the company's income comes from the technology to service the oil field. The swirl on the new logo is supposed to be a graph showing the company's carbon output over time. The new name/logo will be on the left field wall at Minute Maid Park for the World Series.
Its actually a model of the stock price.

Yes I know the stock price is up right now.

Imagine this joke from 2014 to 2020.
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MavsAg
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2:16p, 10/31/22
AG

Anyone else see this from Profrac? Rumor in my world (sand) is that it's Black Mountain
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jetch17
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In reply to Gordo14 • 3:49p, 10/31/22
AG
Gordo14 said:
Looking forward to a well-reasoned and fact-based press conference this afternoon.
imagine that, our dildo president decided to sh*t on big bad oil companies again while barely making it through the teleprompter
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gougler08
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In reply to jetch17 • 8:58p, 10/31/22
AG
jetch17 said:
Gordo14 said:
Looking forward to a well-reasoned and fact-based press conference this afternoon.
imagine that, our dildo president decided to sh*t on big bad oil companies again while barely making it through the teleprompter


So if these somehow passed congress (they won't), doesn't he realize the taxes will just get passed right along to the customers?

Maybe pull some of the taxes off of gas to lower prices instead!
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Gordo14
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In reply to gougler08 • 11:35p, 10/31/22
gougler08 said:
jetch17 said:
Gordo14 said:
Looking forward to a well-reasoned and fact-based press conference this afternoon.
imagine that, our dildo president decided to sh*t on big bad oil companies again while barely making it through the teleprompter


So if these somehow passed congress (they won't), doesn't he realize the taxes will just get passed right along to the customers?

Maybe pull some of the taxes off of gas to lower prices instead!


**** the RVO is over 20 cents per gal right now. That's a policy choice indirectly set by the EPA.
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