I am sure this has been done before, but any Ags in Midland free to grab a beer next week?
Houston..we have a problem....
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In Midland and down for a beer but I'm out of town at the beach next week with the family. Next time.
Chevron relocating to Houston, never thought we would see this day.
Ag CPA said:
Chevron relocating to Houston, never thought we would see this day.
They just bought 77 acres in Bridgeland in the fall for a R&D facility. Wonder if this news adjusts the scope, or accelerates the development.
Time to bring back the Houston Oilers.
Ag CPA said:
Chevron relocating to Houston, never thought we would see this day.
Finally got tired of the political climate in California. I don't know why any corporation with options would choose CA as its headquarters
I did not know this. Shell has a R&D/technology center hiding in plain site just east of barker reservoir on Hwy 6 just south of Westheimer. Wonder if Chevron thinks they can pull talent from there with the promise of new stuff.
Weather, amenities, and wive's demands. Historically, if you're going to be a millionaire executive, California can't be beat. The California of Chevron's establishment in the late 1800s was basically setting up shop right outside the garden of eden. There's a lot of people who will talk about how even as late as the mid 1990s kids had idyllic upbringings out there.Aglaw97 said:Ag CPA said:
Chevron relocating to Houston, never thought we would see this day.
Finally got tired of the political climate in California. I don't know why any corporation with options would choose CA as its headquarters
Shoot, Exxon kept their Irving executive castle all the way up until a year or so ago for the same reasons: weather, amenities, and wives demands.
I think Chevron is the largest company moving from california and not choosing Austin or Dallas. You've got to really screw up as a state that it becomes untenable for even the most wealthy of a corporation's employees say 'I can't buy my way out of this mess-we're leaving.'
cgh1999 said:Ag CPA said:
Chevron relocating to Houston, never thought we would see this day.
They just bought 77 acres in Bridgeland in the fall for a R&D facility. Wonder if this news adjusts the scope, or accelerates the development.
Not just R&D….
I generally only browse this thread, but I was curious how much you guys pay attention to orphaned wells and some of the stuff going on in west Texas. It's certainly not a new thing with the Wink Sink(s), Bohemer Lake, FM1053 sinking not too far away, etc.
Leaving whether Sarah Stogner was a good RRC candidate or not out of the conversation, she's putting a lot of publicity on these legacy wells starting to let loose and cause all sorts of problems for ranchers who live in the region. She's not a well engineer, so she's not close to being correct 100% of the time, but she's also clearly put some effort into learning and continuing to learn. She's posted a couple of real doozies on linkedin this week.
https://www.linkedin.com/posts/stogner_firechristi-zombiewells-oilandgas-activity-7223003706521178112-Afog
https://www.linkedin.com/posts/stogner_hirehawk-firechristi-zombiewells-activity-7225110668402647042-yXYD
Overall, it seems to be a combination of dozens of factors with injection, aged casing, and bad/lax cementing or P&A practices from 70-80 years ago being the main cuplrits. But then again, I'm not a reservior or well engineer either, so that's specifically what I was hoping to learn from you guys. Either way, it gives me a lot of concern about the potential implications of groundwater contamination and surface water contamination as these wells continue to age over the next 20/50/100 years without having a real maintenance plan like we would for dams, roads, and other infrastructure. Nothing's forever.
Leaving whether Sarah Stogner was a good RRC candidate or not out of the conversation, she's putting a lot of publicity on these legacy wells starting to let loose and cause all sorts of problems for ranchers who live in the region. She's not a well engineer, so she's not close to being correct 100% of the time, but she's also clearly put some effort into learning and continuing to learn. She's posted a couple of real doozies on linkedin this week.
https://www.linkedin.com/posts/stogner_firechristi-zombiewells-oilandgas-activity-7223003706521178112-Afog
https://www.linkedin.com/posts/stogner_hirehawk-firechristi-zombiewells-activity-7225110668402647042-yXYD
Overall, it seems to be a combination of dozens of factors with injection, aged casing, and bad/lax cementing or P&A practices from 70-80 years ago being the main cuplrits. But then again, I'm not a reservior or well engineer either, so that's specifically what I was hoping to learn from you guys. Either way, it gives me a lot of concern about the potential implications of groundwater contamination and surface water contamination as these wells continue to age over the next 20/50/100 years without having a real maintenance plan like we would for dams, roads, and other infrastructure. Nothing's forever.
And Chevron has a significant amount of refining, production and other capital tied up in California so I always saw keeping the HQ there as a goodwill gesture to appease Sacramento; guess they are at the point that the benefits don't outweigh the costs anymore.
CivilEng08 said:
I generally only browse this thread, but I was curious how much you guys pay attention to orphaned wells and some of the stuff going on in west Texas. It's certainly not a new thing with the Wink Sink(s), Bohemer Lake, FM1053 sinking not too far away, etc.
Leaving whether Sarah Stogner was a good RRC candidate or not out of the conversation, she's putting a lot of publicity on these legacy wells starting to let loose and cause all sorts of problems for ranchers who live in the region. She's not a well engineer, so she's not close to being correct 100% of the time, but she's also clearly put some effort into learning and continuing to learn. She's posted a couple of real doozies on linkedin this week.
https://www.linkedin.com/posts/stogner_firechristi-zombiewells-oilandgas-activity-7223003706521178112-Afog
https://www.linkedin.com/posts/stogner_hirehawk-firechristi-zombiewells-activity-7225110668402647042-yXYD
Overall, it seems to be a combination of dozens of factors with injection, aged casing, and bad/lax cementing or P&A practices from 70-80 years ago being the main cuplrits. But then again, I'm not a reservior or well engineer either, so that's specifically what I was hoping to learn from you guys. Either way, it gives me a lot of concern about the potential implications of groundwater contamination and surface water contamination as these wells continue to age over the next 20/50/100 years without having a real maintenance plan like we would for dams, roads, and other infrastructure. Nothing's forever.
I don't work west Texas any more but when I did one of my special projects was studying casing leaks in vertical wells of a large legacy asset. It was a huge mess. Repairing them even on relatively new and productive wells was a crapshoot. When you are going to plug a well, its obviously a little easier to address these issues because you don't need to have a functional wellbore when you're done, but I have no doubt that there are many "plugged" wells that haven't been looked at in a long time and are having communication between zones, or to surface. Operators are supposed to check casing pressure on P&A wells I think, but no idea if they really do or what the protocol is. The geology of the Permian (at least the Midland basin) makes it really tricky with the San Andres being a water disposal zone that is pretty much at capacity and above the modern day producing intervals.
If the industry cares to fight back at all at the narrative that we solely exist to rape and pillage the earth, I think it would behoove operators to take this seriously. I feel like a couple years ago during the heyday of ESG operators should have announced big projects to address the issue. They could have gotten out ahead of something that could hurt them down the road, and been rewarded by wall street who was eating that kind of stuff up at the time.
Aglaw97 said:Ag CPA said:
Chevron relocating to Houston, never thought we would see this day.
Finally got tired of the political climate in California. I don't know why any corporation with options would choose CA as its headquarters
I heard recently that one of the reasons a Silicon Valley exists is because during the tech boom Massachusetts had relatively strong enforcement on noncompete agreements that were hurting the employees coming out of MIT but California/Silicon Valley didn't so it became very attractive for workers and companies there thrived. Anyone know if that's true?
I think there are a lot of reasons, but San Francisco was a big hub for electronics early on because of the military's demand for the technology. And there was a professor at Stanford that strongly encouraged his graduates to just directly apply for military contracts creating technologies instead of taking a salaried job because there was such a huge demand by the military.
Also, SF was a hub for LGBTQ early on because gay sailors would get caught, kicked off the base but still stay in SF instead of go back home.
Also, SF was a hub for LGBTQ early on because gay sailors would get caught, kicked off the base but still stay in SF instead of go back home.
Quote:
Also, SF was a hub for LGBTQ early on because gay sailors would get caught, kicked off the base but still stay in SF instead of go back home.
Is this true? Always wondered how SF got so gay.
Chevron and Hess merger delayed another year. This deal may never happen!
https://finance.yahoo.com/news/chevron-hess-deal-suffers-blow-230150950.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAABXIM_3a2MfPF-bdt4_lUu7I6gIBRG5CFNZKgYhwnU4jazY4ImEaud0Iwem_mcVgZu5GizTz-rAdmMo0d3_7LCP8_iPoqZZsP9wPr5WB0pYy7SMENY3gsSB4vue2BoTbUk3jwM_r8bSyZ46AUkeBV0W3I7XdSOnxKpvtZoeM4I_A
https://finance.yahoo.com/news/chevron-hess-deal-suffers-blow-230150950.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAABXIM_3a2MfPF-bdt4_lUu7I6gIBRG5CFNZKgYhwnU4jazY4ImEaud0Iwem_mcVgZu5GizTz-rAdmMo0d3_7LCP8_iPoqZZsP9wPr5WB0pYy7SMENY3gsSB4vue2BoTbUk3jwM_r8bSyZ46AUkeBV0W3I7XdSOnxKpvtZoeM4I_A
Yah, my understanding is that SV developed around the government missile and other aerospace R&D out there starting in the 50s
Petrino1 said:
Chevron and Hess merger delayed another year. This deal may never happen!
https://finance.yahoo.com/news/chevron-hess-deal-suffers-blow-230150950.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAABXIM_3a2MfPF-bdt4_lUu7I6gIBRG5CFNZKgYhwnU4jazY4ImEaud0Iwem_mcVgZu5GizTz-rAdmMo0d3_7LCP8_iPoqZZsP9wPr5WB0pYy7SMENY3gsSB4vue2BoTbUk3jwM_r8bSyZ46AUkeBV0W3I7XdSOnxKpvtZoeM4I_A
Exxon throwing a wrench into it…..
I imagine part of the struggle with being out in California vs being in Texas with the rest of their US peers is when they have job openings they are forced to promote from within rather than look external as there isn't anyone else around to hire with O&G experience. Of course many of the roles at an HQ office require a skillset that can come from any industry (legal, accounting, project management), but I don't see the tech obsessed employee base jumping at the bit to apply for jobs at Chevron in the bay area and I doubt can just money whip anyone to consider them as they have to compete with the likes of Oracle, Apple, Google and so on for local talent. Politics or not, it just makes too much sense to finally rip off the bandaid and move to Houston. Exxon finally did it and they weren't even changing states.Ag CPA said:
And Chevron has a significant amount of refining, production and other capital tied up in California so I always saw keeping the HQ there as a goodwill gesture to appease Sacramento; guess they are at the point that the benefits don't outweigh the costs anymore.
Ag CPA said:
And Chevron has a significant amount of refining, production and other capital tied up in California so I always saw keeping the HQ there as a goodwill gesture to appease Sacramento; guess they are at the point that the benefits don't outweigh the costs anymore.
It would not surprise me if the only offices left in California soon are field offices at best. I doubt there will be any corporate facilities left in that state oil and gas wise.
Colorado is already basically dead corporate wise, California is following shortly behind.
If you're rich, California is awesome and if you're working at Chevron HQ you were doing well. Chevron was in a beautiful part of the state and now coming to Houston. I bet a lot aren't happy but with the pressure of cost cutting and seeing Exxon relocating just a year before, Chevron had no choice.
Dan Scott said:
If you're rich, California is awesome and if you're working at Chevron HQ you were doing well. Chevron was in a beautiful part of the state and now coming to Houston. I bet a lot aren't happy but with the pressure of cost cutting and seeing Exxon relocating just a year before, Chevron had no choice.
None of this matters, California hates oil and gas and wanted it gone. The environment there is EXTREMELY anti-business and even more anti-oil and gas.
The fact that tech companies are leaving the state says everything you need to know. Chevron had no choice, it was either that or be fleeced into nothing.
.Dan Scott said:
If you're rich, California is awesome and if you're working at Chevron HQ you were doing well. Chevron was in a beautiful part of the state and now coming to Houston. I bet a lot aren't happy but with the pressure of cost cutting and seeing Exxon relocating just a year before, Chevron had no choice.
Define "rich". I think you are sorely lacking knowledge about what you think you know to be true.
CA passed a law last year that regulates profit margins of refiners. Marxist as hell, and the state deserves everything it gets.
Dirty Mike and the Boys
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To be fair to California, last year the CPUC approved the maximal expansion of Aliso Canyon which essentially killed nat gas spreads into California. Our desk had like a 5% chance assigned to them expanding it by that amount, and it was a **** show covering positions afterwards. It was probably the biggest surprise of my career in natty thus far.
Dirty Mike and the Boys said:
To be fair to California, last year the CPUC approved the maximal expansion of Aliso Canyon which essentially killed nat gas spreads into California. Our desk had like a 5% chance assigned to them expanding it by that amount, and it was a **** show covering positions afterwards. It was probably the biggest surprise of my career in natty thus far.
Brutal. As somebody that was also crushed by being on the wrong side of a California regulator choosing a P5 scenario... I feel for you.
California likes to take things to the breaking point and then reversing their policy. It's like Diablo Canyon. It was a great talking point to retire that thing and then they realized they needed non-intermittent baseload power.
Dirty Mike and the Boys
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Gordo14 said:Dirty Mike and the Boys said:
To be fair to California, last year the CPUC approved the maximal expansion of Aliso Canyon which essentially killed nat gas spreads into California. Our desk had like a 5% chance assigned to them expanding it by that amount, and it was a **** show covering positions afterwards. It was probably the biggest surprise of my career in natty thus far.
California likes to take things to the breaking point and then reversing their policy. It's like Diablo Canyon. It was a great talking point to retire that thing and then they realized they needed non-intermittent baseload power.
Yeah, that's a great example. Regarding Aliso, we had a strategy sesh like 2 weeks before the CPUC meeting and one of our analysts was like "yall don't think $50 PGE in January (2023) is going to have any sort of influence on the regulators?" Only smart one in the room for us that day. Obviously, he's an Aggie.
Not to take things into too much of an abrupt turn.... But:
Expect **** to hit the fan tomorrow afternoon. Bullish oil
President Biden schedule tomorrow includes 11am call with the King of Jordan, and a 2:15pm Situation Room meeting with his national security team to discuss developments in the Middle East. pic.twitter.com/myndmRtq7V
— Laura Rozen (@lrozen) August 5, 2024
Expect **** to hit the fan tomorrow afternoon. Bullish oil
Global recession is more powerful than ME mess right now.
On the instability and recession fronts related to O&G engineering, Sidara is walking away from its offer to buy Wood Group (London based but large-ish Houston EPCm Company).
Quote:
Dubai-based Sidara said it is walking away from takeover talks "in light of rising geopolitical risks and financial market uncertainty at this time".
Furlock Bones said:
Global recession is more powerful than ME mess right now.
Possibly. I would wait to see what happens first. Definitely the driver this AM though.
Last line is the best, "Also, we realized we were going to buy Wood Group. What were we thinking?"Caliber said:
On the instability and recession fronts related to O&G engineering, Sidara is walking away from its offer to buy Wood Group (London based but large-ish Houston EPCm Company).Quote:
Dubai-based Sidara said it is walking away from takeover talks "in light of rising geopolitical risks and financial market uncertainty at this time".
I'll have to find it but there was an interesting article about the history of SF and how it played into politics to this day out there. Pretty eye opening. The Navy used to set up undercover sailors to catch their gay sailors. They'd take, by their own words, 'good looking sailors' put them on street corners, and see which of the closeted sailors slowed too much to look at them. The undercover sailor wrote down their license plate number and then reported it back to command, look up the registration and get those guys kicked out of the navy. And that was the most PG rated way they'd catch people.Nagler said:Quote:
Also, SF was a hub for LGBTQ early on because gay sailors would get caught, kicked off the base but still stay in SF instead of go back home.
Is this true? Always wondered how SF got so gay.
Anyways, back to global recession talks and middle eastern missile launches.
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