I think it's funny that a crappy investment vehicle with a bad mgmt team that blew a ton of money is what get's this thing spicy.
Cyp0111 said:
I think it's funny that a crappy investment vehicle with a bad mgmt team that blew a ton of money is what get's this thing spicy.
The irony, right?Premium said:Cyp0111 said:
I think it's funny that a crappy investment vehicle with a bad mgmt team that blew a ton of money is what get's this thing spicy.
No, it was the username Sporty "Spice"
Cyp0111 said:
Shale can be value add, I've highlighted companies like Mewbourne etc. that have done it on scale. I've also largely been impressed with the Carnelian portfolio companies etc.
I think my issue with shale is largely the capital allocation requirements which leave balance sheets largely exposed given rapid declines and need to continuously reinvest to maintain production/asset valuations. I think shale pairs well with conventional assets as part of a larger portfolio.
I guess I have fatigue by completion design v20 that will finally deliver that long desired return.
Probably bought into the green narrative that oil is toast.Drillbit4 said:
Denbury down on the news. I don't know why they are choosing to sell out for zero premium.
Drillbit4 said:
Denbury down on the news. I don't know why they are choosing to sell out for zero premium.
Marsh said:Drillbit4 said:
Denbury down on the news. I don't know why they are choosing to sell out for zero premium.
Denbury went to market seconds after they came out of bankruptcy. The only issue is that there was essentially only 1 logical buyer.
The combination of these 2 maps make that clear.
Where the CO2 pipelines lay:
Where the CO2 is coming from:
Approximately half of denburys production is in the Rocky mountains, with exxon being the provider of CO2 (denbury owns 1/3rd of LaBarge).
Kinder Morgan would have had to enter 2 entirely new areas to make this deal happen.
Unfortunately, there have been more and more rumblings that some of the larger co2 providers, like exxon, are not wanting to sell their CO2 to other operators (not a negotiation tactic, literally a "this is no longer available to buy, good luck"). ESG related (which makes sense, as producing co2 and then selling it seems like a double negative on ESG).
Specifically for the Rocky mountains, where LaBarge is the only option, if Exxon isn't willing to sell you CO2 anymore, you don't have much of a play. Now the gulf coast area may be in the same boat.
Ultimately, I'd be happy if I was denbury. Exxon has a diverse portfolio that can weather storms (like commodity prices killing CO2 economics).
We're no longer royal anywaysone MEEN Ag said:
I assume Shell isn't the type of royal you're looking for.
After that Amsterdam court said Shell can be sued for causing global warming - you're not even dutch anymore.gougler08 said:We're no longer royal anywaysone MEEN Ag said:
I assume Shell isn't the type of royal you're looking for.
Aggie09Derek said:
Does anyone here work for a royalty company?
If so shoot me a PM, have a question about the value for some mineral rights in East Texas.
gigem1223 said:
We gonna see $80 wti today?
BrokeAssAggie said:gigem1223 said:
We gonna see $80 wti today?
Dude