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Cyp0111
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In reply to Gig-Em2003 • 7:21p, 8/1/23
Google Cox Operating bankruptcy. They and the BP hedge desk in all kinds of fun on that one with tons of creditors getting nasty with UCC and mechanics liens to the eye balls.

I think they're also in the paper on Alpine but that's not 100-%
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Dan Scott
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7:59p, 8/1/23
AG
What is London Gas Oil? It's up about 50% from lows and going up everyday
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RulesForTheeNotForMe
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In reply to BrokeAssAggie • 8:03p, 8/1/23
AG
BrokeAssAggie said:

They are cooking the books on these reports…. Last week they "found" ~2.4MMbpd of production which added 15 million barrels to the inventory. Look at the EIA report last week, in row 13 I believe…. That's where they are cooking the books to artificially inflate inventory.

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txaggie_08
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In reply to RulesForTheeNotForMe • 8:19p, 8/1/23
AG
Only difference is you're talking EIA vs API. The EIA's report is tomorrow. Will be interesting to see how it contrasts to the API.

Last week the API showed a 1.3mm draw while the EIA only showed a 600m draw with their adjustments.
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CheladaAg
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In reply to RulesForTheeNotForMe • 8:21p, 8/1/23
AG
It will be interesting to see what the "adjustment" will be this week.
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Cyp0111
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In reply to CheladaAg • 8:53p, 8/1/23
HFI research guy is pretty good an had EIA at 10mm draw
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RulesForTheeNotForMe
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In reply to txaggie_08 • 9:01p, 8/1/23
AG
The "cooking" comes from the adjustment… not the inventory number.
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txaggie_08
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In reply to RulesForTheeNotForMe • 9:12p, 8/1/23
AG
Yeah, I get it. I mentioned the small draw was due to their adjustments. Without the "found" oil in the adjustment there would have been a larger draw reported last week.

Your original post was quoting the API numbers; which I was clarifying it's the EIA cooking numbers, not the API.
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Comeby!
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In reply to Cyp0111 • 9:32p, 8/1/23
AG
That's the only group I follow on Seeking Alpha. He's zigged correctly, when everyone zags.
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Cyp0111
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10:07p, 8/1/23
It's lights being blended.
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Furlock Bones
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In reply to Dan Scott • 9:39a, 8/2/23
AG
Dan Scott said:
What is London Gas Oil? It's up about 50% from lows and going up everyday
likely Eagle Ford barrels.
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txaggie_08
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In reply to txaggie_08 • 10:00a, 8/2/23
AG
EIA confrims massive withdrawals, with even higher estimate. Oil prices falling this morning….

https://oilprice.com/Energy/Crude-Oil/Oil-Falls-Despite-Massive-Crude-Inventory-Draw.amp.html

Quote:
WTI crude futures didn't move higher today after the Energy Information Administration confirmed the substantial inventory draw estimated by the American Petroleum Institute on Tuesday.

The EIA estimated an inventory draw of 17 million barrels for the final week of July, which compared with a modest decline of 700,000 barrels for the previous week.
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DripAG08
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10:10a, 8/2/23
AG
Wasn't White Oak a combination with Milagro Resources when they went bankrupt?
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RulesForTheeNotForMe
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In reply to txaggie_08 • 10:12a, 8/2/23
AG
Makes perfect sense.......

  • Market is under supplied
  • SPR is at historic lows
  • Rig Utilization is at lowest point since March 2022

I'm confused. Market is under supplied, Supply is not ramping up... Prices go down??
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BrokeAssAggie
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10:30a, 8/2/23
$80 was nice for those two days.
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Furlock Bones
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In reply to Furlock Bones • 11:10a, 8/2/23
AG
Furlock Bones said:
structurally we are set to run up pretty good over the next year. which probably means, something will come in and crush the market.
classic
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Sea Speed
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In reply to Furlock Bones • 11:16a, 8/2/23
AG
Furlock Bones said:
Furlock Bones said:
structurally we are set to run up pretty good over the next year. which probably means, something will come in and crush the market.
classic


Only took 2 days
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Cyp0111
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In reply to Sea Speed • 11:20a, 8/2/23
I don't think we're structurally set for too much. I think we ran hot the last 2-3 week.
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Sea Speed
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In reply to Cyp0111 • 11:22a, 8/2/23
AG
I'm way out of my depth but don't really think the world is structurally set for ANYTHING these days, just laughing at the above.
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htxag09
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In reply to RulesForTheeNotForMe • 11:53a, 8/2/23
AG
RulesForTheeNotForMe said:
Makes perfect sense.......

  • Market is under supplied
  • SPR is at historic lows
  • Rig Utilization is at lowest point since March 2022

I'm confused. Market is under supplied, Supply is not ramping up... Prices go down??
Fitch Downgrades the United States' Long-Term Ratings to 'AA+' from 'AAA'
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Aglaw97
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12:20p, 8/2/23
AG
Demand destruction arguments still seem to be garnering more weight than I personally believe will come to fruition. I still think $90 be year-end is very possible.
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Cyp0111
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In reply to Aglaw97 • 12:28p, 8/2/23
I think people need to pay more attention to cracks. Diesel and Gasoline have really gone up. Needs cracks to come in.
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BiochemAg97
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In reply to RulesForTheeNotForMe • 12:51p, 8/2/23
AG
RulesForTheeNotForMe said:
Makes perfect sense.......

  • Market is under supplied
  • SPR is at historic lows
  • Rig Utilization is at lowest point since March 2022

I'm confused. Market is under supplied, Supply is not ramping up... Prices go down??


Buy the rumor, sell the news?

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Furlock Bones
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In reply to Cyp0111 • 5:09p, 8/2/23
AG
Sheffield says $100 by the end of the year.
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AgLA06
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In reply to BiochemAg97 • 5:32p, 8/2/23
AG
BiochemAg97 said:
RulesForTheeNotForMe said:
Makes perfect sense.......

  • Market is under supplied
  • SPR is at historic lows
  • Rig Utilization is at lowest point since March 2022

I'm confused. Market is under supplied, Supply is not ramping up... Prices go down??


Buy the rumor, sell the news?

Ignore normal commodity supply and demand, watch the market manipulation.
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topher06
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10:51a, 8/9/23
Guess no one wants to say it.
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Mic Dropper
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In reply to topher06 • 10:52a, 8/9/23
AG
I'll say it…

I wish the JFF documentary was longer.
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Dan Scott
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11:02a, 8/9/23
AG
European diesel prices are soaring. Brent up about 25% while diesel is up 50% from the lows. Refiners are going to be printing money again
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txaggie_08
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In reply to Mic Dropper • 11:09a, 8/9/23
AG
Mic Dropper said:
I'll say it…

I wish the JFF documentary was longer.

I was thinking the same thing last night. They crammed a lot in in that short amount of time.
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Charlie Murphy
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In reply to Cyp0111 • 1:18p, 8/9/23
Cyp0111 said:
Google Cox Operating bankruptcy. They and the BP hedge desk in all kinds of fun on that one with tons of creditors getting nasty with UCC and mechanics liens to the eye balls.

I think they're also in the paper on Alpine but that's not 100-%
Woof
  • BP provided some $250 million off-balance sheet funding to Cox

https://www.bloomberg.com/news/articles/2023-05-02/oil-producer-cox-mulls-bankruptcy-amid-talks-with-bp-vendors#xj4y7vzkg

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Cyp0111
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In reply to Charlie Murphy • 2:28p, 8/9/23
Swap prepay, ouch is right.
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Charlie Murphy
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In reply to Cyp0111 • 9:36p, 8/9/23
Heck of a funding mechanism. How is that collateralized?
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BrokeAssAggie
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7:26a, 8/10/23
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Cyp0111
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In reply to Charlie Murphy • 7:29a, 8/10/23
Mortgages.
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Deepslant
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11:26a, 8/10/23
AG
Hearing IronRoc filed Ch. 11 BK recently. Anyone know what happened? They were drilling some good wells in Giddings field, looks like company made up of Aggies.
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