Those were the two I was thinking about. With realized prices and D&C, I do not see that papering or if it does, you're gonna run yourself into a liquidity cliff with current ratio.
$25MM D&C!?!?ThreeFive said:
With gas prices heading where they are, you'll start to see a drop soon. Especially in the gas/condensate areas. Really interested to see what Comstock and Aethon do in Robertson/Leon area. Imagine they have some wells to put down within the next two years before acreage expirations. $25MM D&C....
Comeby! said:
txaggie_08 said:
Anyone hearing that Continental is picking up Patriot?
txaggie_08 said:
Anyone hearing that Continental is picking up Patriot?
MavsAg said:
Did they buy the Ameredev stuff too though? Looks like the acreage they got was just the Advance stuff unless I'm seeing something wrong.
topher06 said:
1. Freeport LNG still being shut down (politically driven)
2. The El Paso line shut down or whatever is happening blocking a decent amount of offtake from the Permian
But that doesn't seem to explain it really. Must just be a warmer winter.
Boy Named Sue said:
Freeport will be running wide open next week, I'm told. Rystad report not accurate
This is correct and the rest of the winter won't matter much, although it could protect significant downside. Haynesville has to slow and increased capex will help, but there's going to be a ~6 month lag before rigs really start to drop and then another ~6 months before you see supply slow. 2023 could easily see sub $2 gas. Just go model storage numbers and you'll see we can realistically have at/near 4 TCF by late 2023.Gig-Em2003 said:topher06 said:
1. Freeport LNG still being shut down (politically driven)
2. The El Paso line shut down or whatever is happening blocking a decent amount of offtake from the Permian
But that doesn't seem to explain it really. Must just be a warmer winter.
Too much gas. And warm winter. Other than weather no real relief valves until late '24 when we get more LNG export capacity.
Haynesville will have to slow down. Permian won't so you'll have too much associated gas flowing to gulf. Though pipeline constraints are real out there too.
Weather still matters, warm Europe winter big culprit here.
Quote:
To be clear: It's not that Chevron, or any of its peers, did anything special to earn their windfall profits last year. There was no big innovation or breakthrough they just got rich off the price of oil shooting up.
Quote:
Buybacks are increasingly common, and controversial (in fact, they were flat-out illegal until 1982).
On one hand it's an easy way for a company to reward shareholders and signal confidence in its own value (after all, what moron would buy shares in a company whose stock is about to go down?). But critics say the practice artificially inflates the stock's value by creating fake demand. Conveniently, it also gooses executive compensation, the vast majority of which comes from stock options.
See here: Chevron, which is expected to report Friday that profits for 2022 doubled to more than $37 billion, is essentially balking at calls from investors and the White House to funnel its extra cash into more drilling capacity to help reduce prices for inflation-weary customers.
Instead, Chevron is buying $75 billion worth of its own shares, and jacking up its quarterly shareholder dividend. That decision prompted rebuke from the Biden administration.
"For a company that claimed not too long ago that it was 'working hard' to increase oil production, handing out $75 billion to executives and wealthy shareholders sure is an odd way to show it," said White House spokesperson Abdullah Hasan.
My very young OFS company is looking to expand and we are very seriously looking at the Haynesville. Before this drop I was thinking the Haynesville would be a relatively safe bet with all the LNG exports. Do y'all think these low prices will have a significant impact on completions in 2024?ThreeFive said:This is correct and the rest of the winter won't matter much, although it could protect significant downside. Haynesville has to slow and increased capex will help, but there's going to be a ~6 month lag before rigs really start to drop and then another ~6 months before you see supply slow. 2023 could easily see sub $2 gas. Just go model storage numbers and you'll see we can realistically have at/near 4 TCF by late 2023.Gig-Em2003 said:topher06 said:
1. Freeport LNG still being shut down (politically driven)
2. The El Paso line shut down or whatever is happening blocking a decent amount of offtake from the Permian
But that doesn't seem to explain it really. Must just be a warmer winter.
Too much gas. And warm winter. Other than weather no real relief valves until late '24 when we get more LNG export capacity.
Haynesville will have to slow down. Permian won't so you'll have too much associated gas flowing to gulf. Though pipeline constraints are real out there too.
Weather still matters, warm Europe winter big culprit here.
topher06 said:
1. Freeport LNG still being shut down (politically driven)
2. The El Paso line shut down or whatever is happening blocking a decent amount of offtake from the Permian
But that doesn't seem to explain it really. Must just be a warmer winter.