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.
Houston..we have a problem....
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Last: 2 hrs ago by PeekingDuck
Can you share any specifics or major points on what they were doing wrong? I've ran into a lot of bad management teams that beat out the good ones in certain play areas.
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"
It's my opinion. I generally judge mgmt. teams and strategy by how they limit downside and what assumptions they take to an exit and they how prudently they manage the business in between.
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"
I'm a little lost haha. I was just pointing out that management bios on websites are important. I agree that the Uber rating is weird. Apologies if my comment was "spicy".
Carry on… this is my favorite thread and don't want to derail.
Carry on… this is my favorite thread and don't want to derail.
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.
Funny, Carnelian was going to be my WAG at where you work.
Are there any Aggies at Carnelian?
I'm fairly certain most the Carnelian guys graduated undergrad from UT. I think they do a good job in the space.
XOM buys DEN in all-stock transaction valued at $4.9 billion, or $89.45 per share based on ExxonMobil's closing price on July 12, 2023. Under the terms of the agreement, Denbury shareholders will receive 0.84 shares of ExxonMobil for each Denbury share.
https://www.benzinga.com/pressreleases/23/07/b33212971/exxonmobil-announces-acquisition-of-denbury
https://www.benzinga.com/pressreleases/23/07/b33212971/exxonmobil-announces-acquisition-of-denbury
This is XOM doubling down on their CO2 game.
Damn we had just got to NDA w Den about a possible connect for a future offtake. Hope they don't shake up too much I liked the people
Denbury down on the news. I don't know why they are choosing to sell out for zero premium.
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.
I think the lower premium for stock deal makes sense for shareholders. Cash purchase would have likely had a higher premium to sp.
I think the question one should ask, as a holder of equity, would you rather have Den or XOM ?
I think the question one should ask, as a holder of equity, would you rather have Den or XOM ?
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).
Inflation Reduction Act
WTI $77
What a difference a weekend makes. We need some serious draws in the next few EIA prints for any solid upward price momentum.
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).
It'll be interesting to see how Summit Carbon solutions and Navigator CO2 Ventures play out. There seems to be a lot of opposition.
i know the founder of Navigator. he's relentless. i'd bet on him being successful once again.
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.
If so shoot me a PM, have a question about the value for some mineral rights in East Texas.
I assume Shell isn't the type of royal you're looking for.
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.
U.S. Rig Count is down 6 from last week to 669 with oil rigs down 7 to 530, gas rigs down 2 to 131 and miscellaneous rigs up 3 to 8.
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.
I don't but have experience in buying and selling minerals in East Texas. You have a question about valuations?
Correct - have a family member that has an offer on something and just trying to see if anyone has any insight or knows anyone buying in the area that would also like to make offer on it.
I have experience buying in ETX, happy to help out. Shoot me a note at david at 5h-energy dot com
My family has some stuff in Tyler county including some recent leases. I don't know where your minerals are but if you're in the Haynesville I probably couldn't be much help. If you're in or around Tyler county I could probably help.
We are currently leasing in the Tyler, Hardin & Polk area.
Where are your family minerals located? Maybe it's us??
Where are your family minerals located? Maybe it's us??
It's pretty substantial around the Woodville area. Not to get too specific but we work with many different companies.
We gonna see $80 wti today?
gigem1223 said:
We gonna see $80 wti today?
Dude
BrokeAssAggie said:gigem1223 said:
We gonna see $80 wti today?
Dude
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