PeekingDuck said:
I can't imagine the EOG guys joining Oxy culturally.
Lol I've heard Hell Every Single Secondbirdman said:oilandgas13 said:
Anyone here work at Hess and could give some insight? Posting under a sock.
Abbreviation for Holidays Evenings Saturdays Sundays
I worked at Hess and had a great experience, its not as bad as everyone says it is. They tend to pay very well and have similar benefits/retirement as the majors. I would rather work for them than a major.oilandgas13 said:
Anyone here work at Hess and could give some insight? Posting under a sock.
Yea, they pay new grads very well! I made really good money there. It was the only company I've ever worked for that I felt kept throwing money at me before/during I worked there lol. Their bonuses are really good too. A lot of my net worth came while I worked at Hess and I will always be grateful to them.one MEEN Ag said:
Back when I was in undergrad HESS held the record for top salary paid to a new hire for a few years straight.
Quote:
Saudi Arabia and other OPEC+ oil producers on Sunday announced voluntary cuts to their production amounting to around 1.15 million barrels per day in a surprise move they said was aimed at supporting market stability.
The group had been largely expected to stick to its already agreed 2 million bpd cuts when its ministerial panel, which includes Saudi Arabia and Russia, meets virtually on Monday.
Quote:
Last October, OPEC+, which comprises the Organization of Petroleum Exporting Countries (OPEC) and allies led by Russia, agreed output cuts of 2 million bpd from November until the end of the year, angering Washington as tighter supply boosts oil prices.
Sunday's unexpected voluntary cuts, which start from May, come in addition to the ones already agreed in October.
Dan Scott said:
The SPR refill I don't think is a big deal. We're exporting about 3MBD or 25% of domestic production right now. In the event of a situation that really made it needed, we stop exporting.
America needs heavy oil to blend with. The two closest countries to the gulf coast that can provide heavy crude are venezuela and canada.BTHOtrolls said:Dan Scott said:
The SPR refill I don't think is a big deal. We're exporting about 3MBD or 25% of domestic production right now. In the event of a situation that really made it needed, we stop exporting.
The USA refineries aren't configured to refine most of the crude which is produced domestically. If the USA held back exports in an emergency, it would likely make the situation worse.
I'm on the upstream side, so don't understand the complexity and cost to re-tool refineries, but…
It would be nice, if the "infrastructure bill" had a line item to modify or build new refineries, so the USA could refine its domestic crude. In which case, the SPR as you said would loose a lot of its strategic value.
Premium said:
Oil $66
Furlock Bones said:
Got to love it. Oil rips and nat gas takes a dump.
And what's hilarious is that when events like this happen, producers like SWN that are almost exclusively NG will move with the price of oil, not gas, despite the fact that this news doubly hurts them as it means service costs are going to increase.Furlock Bones said:
Got to love it. Oil rips and nat gas takes a dump.
SpreadsheetAg said:Premium said:
Oil $66
And 2.5 weeks later we're back over $80...
Not a knock on anyone - just curious from those who were talking about stacking at $66 with things looking to go down further (2.5 weeks ago) what does the future look like now with the recent OPEC news...
This is purely academic from my perspective - just trying to learn more. (Note: I am in offshore drilling)
It could be argued that it took shuttering Freeport and the government emptying our strategic reserve to drop below that as well.Cyp0111 said:
Took a fairly big OPEC cut to get here, no ?
I think it depends on an individual companies financial and acreage/drilling program. I know a lot of stuff still is frigne at a corporate level at $75 given GOR.
