Jump to content

Hey Oil Barons.......


936horn

Recommended Posts

On 5/13/2020 at 9:39 AM, TonyTexas said:

That OXY severance auction is some real Hunger Games shit. 

the oxy threads on thelayoff.com are brutal. oxy has to go low because they probably don't have enough on hand for 'normal' layoff packages. also, anadarko employees are getting much better packages. 

Link to comment
Share on other sites

15 minutes ago, Pescado_Rojo said:

bruh, if you're going fast enough you can just float over the skinny stuff! 

I’m not worried about skinny as much as I am utility. I’m ok with being “slow” at 70 but have the ability to cross a bay when the weatherman got it wrong.  I still contend people experience the speed and overlook the price and shortcomings in ability of those. If I wanted skinny I’d get a hells bay to complement my current ride and use the leftover money at Alice Fayes. Rides on a cloud of air lol gtfo. 

Link to comment
Share on other sites

Damn, that would be pretty big news if they shut the whole Dallas office.  I've worked with some of their portcos that have not gone according to plan over the last few years for sure, but that still would be a surprise.
Which ones would say have gone according to plan?
Link to comment
Share on other sites

Fair point on their portcos over the last 12 months for sure, definitely more gutters than strikes.  Some of them that I think they did pretty good on within the last 2-3 years: Ameredev, Silverback, Forge and Felix. 

I work with another one that had their assets under LOI that totally fell apart a few months ago.  I think the buyer lost quite a bit of cash that had already gone hard.  

  • Like 2
Link to comment
Share on other sites

It’s been a crazy 6 years in the industry. The 2014 crash.  Climb back to marginal prices decent little run to 60 and then another crash.  I’ve ridden the roller coaster of building a small independent into a 200 boed org. Sold out on that but retained management. Ran for 3 years and the parent decided to sell it off in 2017.  Management team got together to take on running some assets that had gone into receivership of bond holders. Ran that, made some acquisitions along the way. Latest crash is going to bury that. Im heading to a new group that is going to put together a yield fund to try and take advantage of the opportunities this market black swan event has caused.  I don’t know the point in any of that other than this industry is the craziest thing. I swear I must have Stockholm syndrome for it or something, but i love it. I’m thankful for the opportunities I’ve had and the rewards over the years have far outweighed the rough times. Hoping the new venture takes off and this will be the end game. One more run is all I need.  

  • Like 4
Link to comment
Share on other sites

On 5/21/2020 at 1:03 PM, The Royal We said:

Fair point on their portcos over the last 12 months for sure, definitely more gutters than strikes.  Some of them that I think they did pretty good on within the last 2-3 years: Ameredev, Silverback, Forge and Felix. 

I work with another one that had their assets under LOI that totally fell apart a few months ago.  I think the buyer lost quite a bit of cash that had already gone hard.  

The username, the avatar and the gutters & strikes reference didn't go unnoticed. bravo

  • Like 1
Link to comment
Share on other sites

On 5/19/2020 at 9:17 AM, Dr. Beeper said:

Why are we at $33 right now?  Will it continue to rebound?  Should I execute a swap now?

My view is it depends on where the reset button on price is that gets some of the shut in shale back in the game, and to what extent that production can come back on line quickly.  I’d be a bit hesitant on swaps as I’m not sure where the above scenario gets triggered and crashes things back down. Might later in a few floors for some cash flow protection. Im just not sure on where supply goes and how soon demand ramps back. 

Link to comment
Share on other sites

20 hours ago, Dr. Beeper said:

You just said a bunch of words to say “I don’t have a fucking clue.”  Which is basically where I am. But I believe I have the ability to do this without hedging and would rather go unhedged now, or buy really cheap puts. 

I was “hedging” my answer 🧐

Link to comment
Share on other sites

Another 17 rigs dropped this week, breaking even further into record low territory. Down to 301 total. 103 below the previous low set in late May 2016. 

11th straight weekly decline for a cumulative 492 rigs laid down since the first Friday of March 2020.

I'll throw out a wild guess that the first two reports in June will show another ~25 down before hitting a bottom at ~275. The next few weeks after that will show only minor fluctuations <7 up or down. 

Link to comment
Share on other sites

15 minutes ago, Armybrat said:

Was shocked to actually receive a royalty check (About 10% of the usual amount) from Continental Resources. 
Maybe enough to cover our anniversary dinner on the 10th.

I thought they had shut in those wells (North Dakota Bakken)

May checks = March production/sales.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.



×
×
  • Create New...