PeekingDuck said:

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Western closing their Denver office.

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I saw that. Denver used to be an O&G hub but we've so many leave or get bought. Not many left.

Make Casper the new Denver

CPDAggie10 said:

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OPEC says additional production cuts in July

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Oil futures up 2%+ on the news. Time to buy a raptor?

BackRoad Dan said:

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I understand that sentiment and agree in principle.

However, I live here and wish the opposite would happen: more oil and gas companies and more oil and gas friendly policies. Fight not flight. Not going to happen, but hey I can dream right!

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Company I work for had a division that was in Denver. Had. They moved it because it was just insanely hard to find people who could do low level technical tasks while staying sober. Between the drug testing hurdles, cost of living, and hostile city/state governance it was just easier to shut it down and move it.

Before they moved it, HSE did a surprise drug test of everyone at that facility. There were people climbing over fences trying to escape. Leads crying to their bosses admitting they had a problem right before going to pee (Weak attempt to save their butts by claiming amnesty because they admitted to the problem before the test). 40% facility failure rate.

Denver is just another liberal city that leverages a population who moved there for its weather and nature into being hostile towards business.

It'll be a long time before Denver gets so bad that voters will decide to remove their heads from their rears.

Yep, total crap the state government just went around a direct vote with a few immaterial changes to accomplish the anti-oil and gas agenda.

Anyone do civil construction in Odessa? I have a relatively small job pouring a few rack footers and a couple of slabs for a pipeline between Odessa and Crane.

one MEEN Ag said:

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redaszag99 said:

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Anyone do civil construction in Odessa? I have a relatively small job pouring a few rack footers and a couple of slabs for a pipeline between Odessa and Crane.

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There's nothing civil about Odessa.

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That new Marriott is nothing to sneeze at.

Dies Irae said:

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one MEEN Ag said:

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redaszag99 said:

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Anyone do civil construction in Odessa? I have a relatively small job pouring a few rack footers and a couple of slabs for a pipeline between Odessa and Crane.

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There's nothing civil about Odessa.

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That new Marriott is nothing to sneeze at.

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No kidding! What a great option for staying out there these days.

Blakely Construction or Arguijo Oilfield Services may be good options.

Agreed, the Odessa Marriott is the best option in west Texas.

Thanks for the Info

I am a Holiday Inn express guy and usually stay at the new one at IH 20 @ US 385

I'll have to try the Marriott

+1 on the Odessa Marriott…best in all of West Tx…not even close

chumpy said:

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+1 on the Odessa Marriott…best in all of West Tx…not even close

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Whoo! Dream big!

Ovintiv had layoffs in their Woodlands office this week. Sign of more to come?

I've heard ProFrac laid off last week. I know East TX yard had some cuts and maybe Oklahoma. Not sure of other areas.

Given their activity, I think they were pretty heavy on the people side in The Woodlands. They had just sold their Bakken asset to fund the Permian acquisition and they were only operating Utah/Midcon out of that office.

Imagine things get tighter as people cut programs. Drilling into this doesn't pencil if people are being honest.

I know, my brain just shuts down every time I hear anything from them. Maybe because I missed the trade of a lifetime when Covid hit at the same time they relocated (and delisted). That and they are just a comical company.

Their best people left and formed their own management teams or made other companies great.

Industry thoughts on Targa Resources (TRGP)?

Love starting Monday off with WTI losing the $70 handle, yet again.

PeekingDuck said:

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I know, my brain just shuts down every time I hear anything from them. Maybe because I missed the trade of a lifetime when Covid hit at the same time they relocated (and delisted). That and they are just a comical company.

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How so (comical)?

Dreigh said:

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Love starting Monday off with WTI losing the $70 handle, yet again.

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Wonder if the saudis are upset about that.

Dreigh said:

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Red Pear Luke (BCS) said:

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Dreigh said:

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Love starting Monday off with WTI losing the $70 handle, yet again.

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Wonder if the saudis are upset about that.

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I think they have to be feeling some distress being unable to dictate the market in 2023. They'd never let that be known though.

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I'm suspecting this drop in WTI is excess Russian O&G hitting the global markets and China not being as much of a demand sink as before?

Cyp0111 said:

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The market is hyper focused on demand side of equation. There is also excess volumes coming through countries that were supposed to be embargoed (Rus, Iran, Ven). Iran went through a great destocking program of their inventory this year which added supply to the market and russia did something similar.

You had Goldman come up and cut their forecasts which doesnt help.


I think higher rates are also causing people to more quickly destock inventory which is creating short term supply jumps.

It's an interesting dynamic and sure feel like i've been wrong at every turn the last 12 months.

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Oil bulls on Twitter are expecting (hoping, praying) that OPEC+ cuts start printing in earnest @ end of June enough to move the market upward. It remains to be seen if bearish macro sentiment doesn't wipe all that out.

I still believe the market doesn't improve until every bull scraps their thesis and becomes a nihilist.

It'll sort itself out.

Yordaddy said:

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Industry thoughts on Targa Resources (TRGP)?

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Enterprise and Oneok pay better dividends if you're looking at investing