Yikes the market today
Houston..we have a problem....
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Last: 4 hrs ago by Stat Monitor Repairman
Anyone here work at Hess and could give some insight? Posting under a sock.
oilandgas13 said:
Anyone here work at Hess and could give some insight? Posting under a sock.
I worked with a Geologist who retired from Hess. He would always say "Hess is a mess". That's all I got.
Anyone else at DUG Haynesville today?
-MarleyFeed97
oilandgas13 said:
Anyone here work at Hess and could give some insight? Posting under a sock.
Abbreviation for Holidays Evenings Saturdays Sundays
Worked in house with them for a year as a consultant. Culture is very old school and top down. Wouldn't be my first choice by any stretch, but each opportunity is unique.
Comstock Oil and Gas is still punching holes and building new locations in my area in central Texas. 18-20k ft horizontal gas wells.
What area is this?
Completing them or just DUC's?Jbob04 said:
Comstock Oil and Gas is still punching holes and building new locations in my area in central Texas. 18-20k ft horizontal wells.
They have two rigs drilling East of Franklin right now.AustinAg008 said:Completing them or just DUC's?Jbob04 said:
Comstock Oil and Gas is still punching holes and building new locations in my area in central Texas. 18-20k ft horizontal wells.
Could just be an in-term rig contract.
They're not spending that kind of money to drill those monster Robertson county wells for them to just sit.
Goose06 said:
What area is this?
NW Leon county and they've been busy in Robertson county next door as well.
AustinAg008 said:Completing them or just DUC's?Jbob04 said:
Comstock Oil and Gas is still punching holes and building new locations in my area in central Texas. 18-20k ft horizontal wells.
From what I know, they have completed the ones in Robertson county and will do the same to the new wells in Leon county.
They prob deserve to go bankrupt
Looks like Comstock's biggest investor is Jerry Jones. Owns over 75%
Jbob04 said:
Looks like Comstock's biggest investor is Jerry Jones. Owns over 75%
No way
lol I guess this is common knowledge on here. My bad
Cyp0111 said:
They prob deserve to go bankrupt
Helluva thing to say but not surprising coming from you
Cyp0111 said:
They prob deserve to go bankrupt
Company is probably older than you are and has survived way worse than this.
Bankruptcy is just a transfer of ownership to debt holders. It's natural evolution in oil and gas.
oilandgas13 said:
Anyone here work at Hess and could give some insight? Posting under a sock.
I do. Feel free to DM me
Talk to me about bank credit line redeterminations. I assume most are in May?
What % cut do you expect for say a majority nat gas company vs a majority oil production co?
What % cut do you expect for say a majority nat gas company vs a majority oil production co?
What do you boys want for breakfast BBQ ?.....OK Chili.
We're not in production but do build production equipment so we don't have any reserve based lending.
With that being said, our lender just bumped our LOC up Y/Y 60%. Our financials and backlog must have pleased their underwriter. Not sure how it translates to a RBL line but not everyone is sour on the energy space.
With that being said, our lender just bumped our LOC up Y/Y 60%. Our financials and backlog must have pleased their underwriter. Not sure how it translates to a RBL line but not everyone is sour on the energy space.
RBL capacity is not changing much. Gas guys very well hedged in first few years (more than oil guys) and bank price decks did not run up compared to the strip last year so banks had a lot of cushion last fall. Less cushion today, no doubt, but borrowing bases holding steady so far this spring.
They would have gone BK by now if Jerry hadn't stepped in.BrokeAssAggie said:Cyp0111 said:
They prob deserve to go bankrupt
Company is probably older than you are and has survived way worse than this.
That was the very likely outcome for Comstock with out the JJ deal. Good for them in getting creative and getting through that tough time. If I remember correctly their leverage was over 3.5x.
Fast forward to today. Per their March Investor report they're 30% hedged with wide collars at a $3.00 put floor. Curious on what their ability is to cover everything without going FCF negative.
EBITDA last year was good but at these levels EBITDA evaporates quickly as you approach corp breakevens.
We shall see, interesting time to be alive.
Fast forward to today. Per their March Investor report they're 30% hedged with wide collars at a $3.00 put floor. Curious on what their ability is to cover everything without going FCF negative.
EBITDA last year was good but at these levels EBITDA evaporates quickly as you approach corp breakevens.
We shall see, interesting time to be alive.
MAROON said:
Talk to me about bank credit line redeterminations. I assume most are in May?
What % cut do you expect for say a majority nat gas company vs a majority oil production co?
The banks put out their price deck then apply their internal policy. Lots of moving parts what go into that such as concentration of value, advance rates, the rest of their book. It's not oil company or gas company heavy any more than just price decks and oil and gas split for each company.
The D said:oilandgas13 said:
Anyone here work at Hess and could give some insight? Posting under a sock.
I do. Feel free to DM me
Thanks, can't pm. Do you have an email?
oilandgas13 said:The D said:oilandgas13 said:
Anyone here work at Hess and could give some insight? Posting under a sock.
I do. Feel free to DM me
Thanks, can't pm. Do you have an email?
Yes but it's my name. Do you have a sock email ? Will email you if you want to post it
This should work
xxxx
xxxx
oilandgas13 said:
This should work
oilandgas13@altmails.com
Got it just sent you an email
OXY to buy EOG for 35b rumor floating around.
EOG's market cap is $67B
OXYs is $56B. EOG is bigger than OXY.
OXYs is $56B. EOG is bigger than OXY.
Eog is worth more than 35B.
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