Houston..we have a problem....

7,433,658 Views | 28851 Replies | Last: 5 days ago by redaszag99
Owen Kellogg
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Now that would be a mega deal!

COP market cap is $150B… 3x Pioneers.
PeekingDuck
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They are too busy killing the Concho production to deal with another merger right now.
Cyp0111
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Concho boys weak sauce and sold at teh bottom after the Dominator.

If you're gonna do a deal, atleast have some longer term asset value.
barney94
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If anyone out there needs an excellent senior geologist or geo team lead with extensive Eagle Ford and Delaware Basin experience both mapping and steering, reply or send me a PM. It's not me, it's a buddy who just got laid off due to a leadership change. They whacked all the geos.

A truly excellent geo tech is available as well.

They're in Houston but open to anything.

Thanks

Comeby!
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I know of someone hiring a reservoir engineer in Dallas if anyone is looking.
Lawhall97
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We are hiring Houston based people with geo experience. Microseismic.com The resume intake on careers page is legit and resumes are being actively reviewed by a real person
Comeby!
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A recruiter friend of mine is looking for a 5-10 year BD/reservoir engineer….can be 100% remote. What better candidates than Aggie Engineers. PM me if interested so I can make a connection.
BCG Disciple
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So did Marshall call her a trannie?
AverageJones
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BCG Disciple said:

So did Marshall call her a trannie?


He most certainly did
Comeby!
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Does anyone have any data they can point to that shows the cost to run an operated business vs non operated? I know nonop costs a fraction of operated G&A but didn't know if there's something public that shows a rule of thumb or some governing entity similar to COPAs. Tia !
birdman
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Comeby! said:

Does anyone have any data they can point to that shows the cost to run an operated business vs non operated? I know nonop costs a fraction of operated G&A but didn't know if there's something public that shows a rule of thumb or some governing entity similar to COPAs. Tia !
Depends on who has the best accounting department.
Cyp0111
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Probably Northern for non-op/
Aggie09Derek
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BCG Disciple said:

So did Marshall call her a trannie?
How did Love is Blind get tossed into this thread
Drillbit4
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Nothing from anyone on the last 2 day's bloodbath? Did I miss the jump off a bridge meetup?
txaggie_08
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It's definitely been a tough week for oil prices and stocks. Guess recession fears are really dragging them down.
Dies Irae
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Drillbit4 said:

Nothing from anyone on the last 2 day's bloodbath? Did I miss the jump off a bridge meetup?


Oh come on, everyone is too busy at charity clay shoots, charity chili cook offs, charity golf scrambles to care about fundamentals.

The oilfield is nothing more than an elementary school field day under the facade of charity.
BrokeAssAggie
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Dies Irae said:

Drillbit4 said:

Nothing from anyone on the last 2 day's bloodbath? Did I miss the jump off a bridge meetup?


Oh come on, everyone is too busy at charity clay shoots, charity chili cook offs, charity golf scrambles to care about fundamentals.

The oilfield is nothing more than an elementary school field day under the facade of charity.


WTF up your butt?
Dies Irae
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BrokeAssAggie said:

Dies Irae said:

Drillbit4 said:

Nothing from anyone on the last 2 day's bloodbath? Did I miss the jump off a bridge meetup?


Oh come on, everyone is too busy at charity clay shoots, charity chili cook offs, charity golf scrambles to care about fundamentals.

The oilfield is nothing more than an elementary school field day under the facade of charity.


WTF up your butt?
Nothing really, mainly tongue in cheek. As a decent sized small business owner that plays in the oil & gas industry, I've just marveled at how often my friends who work at competitors and customers are involved in cookouts, golf charity scrambles, and clay shoots.

BrokeAssAggie
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It's no different than any other industry. I have friends in commercial real estate, medical sales, semi conductors, film industry. They are all doing golf outings, week long seminars at fancy resorts, retreats, etc.
txaggie_08
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Cyp0111
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The selloff has been something else over the last 3+ days. Makes investing in the space very difficult. Thoughts and prayers to all the boys having to make capex decisions right now.
terradactylexpress
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Someone's jealous they weren't invited to the last pipeliners event
TommyGun
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Dies Irae said:

BrokeAssAggie said:

Dies Irae said:

Drillbit4 said:

Nothing from anyone on the last 2 day's bloodbath? Did I miss the jump off a bridge meetup?


Oh come on, everyone is too busy at charity clay shoots, charity chili cook offs, charity golf scrambles to care about fundamentals.

The oilfield is nothing more than an elementary school field day under the facade of charity.


WTF up your butt?
Nothing really, mainly tongue in cheek. As a decent sized small business owner that plays in the oil & gas industry, I've just marveled at how often my friends who work at competitors and customers are involved in cookouts, golf charity scrambles, and clay shoots.




Corporate entertainment policies across the industry have basically reduced all supplier/customer events to these types of outings since they're pretty informal and easily reciprocal. It's much easier to go play in a golf scramble with a sales guy when your own company is likely already sponsoring the event than it is to request management approval for suite tickets at a ball game or a hunting trip of some sort. The O&G world is honestly pretty tame these days when it comes to stuff like this. My brother in law got a lot more invites to big games and out of town trips working in commercial construction than I ever have in O&G.
Dies Irae
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terradactylexpress said:

Someone's jealous they weren't invited to the last pipeliners event
You all have a standing invite to play at Houston Oaks with me whenever you like
rak1693
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Dies Irae said:

terradactylexpress said:

Someone's jealous they weren't invited to the last pipeliners event
You all have a standing invite to play at Houston Oaks with me whenever you like

Well then welcome back to the party! I may have to take you up on that sometime
htxag09
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TommyGun said:

Dies Irae said:

BrokeAssAggie said:

Dies Irae said:

Drillbit4 said:

Nothing from anyone on the last 2 day's bloodbath? Did I miss the jump off a bridge meetup?


Oh come on, everyone is too busy at charity clay shoots, charity chili cook offs, charity golf scrambles to care about fundamentals.

The oilfield is nothing more than an elementary school field day under the facade of charity.


WTF up your butt?
Nothing really, mainly tongue in cheek. As a decent sized small business owner that plays in the oil & gas industry, I've just marveled at how often my friends who work at competitors and customers are involved in cookouts, golf charity scrambles, and clay shoots.




Corporate entertainment policies across the industry have basically reduced all supplier/customer events to these types of outings since they're pretty informal and easily reciprocal. It's much easier to go play in a golf scramble with a sales guy when your own company is likely already sponsoring the event than it is to request management approval for suite tickets at a ball game or a hunting trip of some sort. The O&G world is honestly pretty tame these days when it comes to stuff like this. My brother in law got a lot more invites to big games and out of town trips working in commercial construction than I ever have in O&G.

Yep. My wife is in IT and she has several conferences in Vegas a year. Every night a different company has a crazy ass party. I'm talking renting out the main rooms at mgm, open bar, and big acts (she's been to Elton John, Maroon 5, etc.)

But yeah, o&g is just burning capital by setting up a smoker and cooking chicken jumbalaya at a golf tournament…..
BlackGoldAg2011
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Looks like Percussion Petroleum gets bought and Callon Petroleum becomes a West Texas only shop:
https://seekingalpha.com/news/3965098-callon-petroleum-to-buy-permian-basin-assets-while-exiting-eagle-ford
Quote:

  • Callon Petroleum (NYSE:CPE) +7.5% post-market Wednesday after agreeing to acquire core assets in the Delaware Basin while selling all assets in the Eagle Ford Shale, which it says will strengthen its balance sheet with total debt expected to drop below $1.9B at closing.

Quote:

  • Callon (CPE) said it would buy Permian-based Percussion Petroleum Operating II in a cash and stock deal valued at ~$475M and potential contingent payments of as much as $62.5M.Under the deal terms, Percussion will receive $265M in cash and a maximum of 6.46M Callon common shares.

Quote:

  • In a separate deal, Callon (CPE) agreed to sell all its assets in the Eagle Ford Shale to Ridgemar Energy Operating LLC for $655M in cash and potential contingent payments of as much as $45M.

Maverick06
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Who is Ridgemar?
BlackGoldAg2011
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Apparently they are a start up with backing from Carnelian. I think this is their first acquisition. Looks/sounds like they don't have an OPs team at all yet.
ThreeFive
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Their founder used to work for Carnelian, then left to start Ridgemar with Carnelian as the sponsor. They've been searching around the EF for a little over a year.
rak1693
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ThreeFive said:

Their founder used to work for Carnelian, then left to start Ridgemar with Carnelian as the sponsor. They've been searching around the EF for a little over a year.

What could go wrong!? Where were Callon's assets?
jetch17
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Atascosa/McMullen
BlackGoldAg2011
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The bulk of the production is in La Salle county right around cotulla, but there's also a chunk of acreage and wells along the McMullen/Atascosa county border.
Cyp0111
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Carnelian is best in business from the PE side, atleast imo.
Comeby!
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Javelin/Crescent buying Mesquite/Sanchez' Eagleford position for $600MM in cash.
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