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The Royal We

Certifiably Surly
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Everything posted by The Royal We

  1. Why did these assbags take away Plunder for squads!? Are they trying to alienate their users?
  2. They might be doing okay in the market, but I don't think they are doing okay by any "real" metrics - correct? It seems like DUG's time to shine is still in front of us.
  3. Yea, wtf on XOP!? As of this moment, oil is down 43% and XOP is up 3.26%.
  4. Oh I know. I got nothing to jump to - I'm a one trick pony. I wish I had more dry powder.
  5. It's been real and it's been fun, but it wasn't real fun.
  6. Agreed. His only hope is that he wins a few BSEE contracts to plug orphaned wells, but that's not moving at the moment either. That would be a fantastic stimulus plan - plugging wells/removing platforms that are legit dangerous while also keeping lots of blue collar workers in S. Louisiana employed. He also told me that BSEE won't approve any permits at the moment and that they may actually play a role in curtailing production offshore by mandating all workers on platforms have to come back home. That would be some un-american shit, so it's probably going to be crammed through by our current administration.
  7. Man, I'm really fighting against the urge to move my 401k into cash at this point. I'm only 40 and know it's usually unwise to fight against the brrrrrrrrrrrrrrrrrrrr and try to time things, but the irrationality of the market rallying into the face of depression level unemployment and earnings is tough to ignore.
  8. I have a client that runs P&A spreads in state waters and on the shelf and he has told me recently that there is a big bag of nothing going on for him at the moment. And I think his rates have had very little margin in them for the last 18 months+. I hope he can hang on through this but I think it's a long shot.
  9. Hopefully this backfires as spectacularly as the shenanigans in Wisconsin. They are not even trying to hide it.
  10. I don't really understand the teeth gnashing over the way NYC is counting deaths. Even with the more liberal method of counting deaths that they adjusted to yesterday, it's still much more conservative than the way the CDC estimates seasonal flu and swine flu deaths. The CDC will eventually do this with CV 19 as well and it will likely be much higher than what the new NYC method counts now. https://www.cdc.gov/flu/about/burden/how-cdc-estimates.htm#Influenza-Associated-Deaths
  11. I got the bass sled back at the end of last week and have been working it through the break-in process. Has anyone done this before? I've been letting it get really warmed up before increasing the throttle much at all and then don't exceed 3,500 rpms for the first 5 hours. With the way this boat is set up, it's a pain to get up on a plane without exceeding 3,500. It stands straight up and plows for a while before leveling out so I have to make sure I've got a wide open lake in front of me. The difference in the strength of the tell tale stream with the new lower unit is incredible.
  12. Naw man, this was underwritten in the Contingency Market at Lloyd's. I bet they already have a check in hand. They aren't the cheapest, but if you have a valid claim then they are going to pay and they are going to pay quickly. The numbers that I heard from the Lloyd's brokers that I work with is that Wimbledon starting buying this cover in 2003 after SARS and has paid around 1.2mm per year for it.
  13. I read it, but I don't really see how your quoted section addresses the ability of smaller communities to fund the the testing supplies or LabCorp type contracts. Flexibility and autonomy sound great, but does that mean they will continue to fund the areas where resources are needed but they can't pay for it?
  14. Where the hell are small rural communities and even larger cities in poor states going to get the funds to pay for local testing? Call it defunding, call it cut off, call it whatever you want, but if the US govt is dumping money all over the place, then cutting funds for testing seems insane. That's going to be a cornerstone of any plan to dig our way out of this - failure to continue funding tests is going to end up costing us a hell of a lot more on the other end.
  15. Put me in the camp that thinks the jump in pricing is going to evaporate quickly. I think I'm going to take the ~38% gain on my XOM shares that I bought on 3/18 and hopefully get back in when reality punches us in the face.
  16. That sounds like what happened to me. It would still fire up just fine but sounded like the whole thing was going to come flying apart when I gave it any throttle. I thought it was going to be the powerhead, so I'm feeling a little lucky to get out with "only" a new lower unit.
  17. What a bunch of bullshit.
  18. Got damn, that is a very expensive hobby. My bass sled is in the shop at the moment getting a new lower unit. I was running wide open trying to get to one more hole before dark (stupidly) and heard some god awful sounds when I powered down. Idled back home and got the diagnosis from the shop last Friday. It's a '96 Mercury 225, but the mechanic said they only use SEI lower units when replacing. It comes with a 3 year warranty. I'm ready to get it back. Those late evening therapy sessions are much needed at the moment.
  19. I'm in Nac as well and have been disappointed in how slow the general population was in taking this seriously. If you drive past Lowe's, the parking lot usually looks like a normal day last year. Walmart has been slammed too, but that's more understandable given how people from all over the county come in to get their shopping done there. I think the County leadership has done a pretty good job of communicating and had drive through testing set up as soon as we had our first positive case. I really hope things don't shake loose here. https://infection2020.com/ - Currently showing 21 cases and 2 deaths.
  20. Where are you getting your data from? Worldometers and 1point3acres have not posted complete data yet for today.
  21. I got a random email from an old client last night asking me for insurance pricing projections on them using some idle tank batteries to store physical oil. They P&A'd most all of their wells in South Texas but I guess they still hadn't moved all the old batteries out of there yet. I don't know how much exactly how much capacity he has, but I think it's ~5,000 bbls or so. He pretty much rolled up the sidewalks on his company back in 2016, but shooters gonna shoot I guess.
  22. I'm a lowly insurance broker, but 95% of my clients are E&P companies - and 50%+ of those are PE backed companies. Their whole business model has been collapsing underneath them since 2018 or so. The whole build for 3-5 years and flip it out to someone larger strategy starts to fall apart pretty fast when the number of buyers shrinks rapidly. I have a few clients that always seem to be out in front of the curve that are well hedged through the rest of '20 and most of '21, but everyone else will be lucky to make it. My largest client filed last fall and I've picked up a few of the new companies that scooped up some of their assets, but it's nowhere near the size (revenue to my firm) of the original client. This downturn is going to be a reckoning even for people like me who are on the fringes of the oil and gas business. And my side hustles have been investments in a mineral fund, a non-op WI fund, and a tiny equity stake in a small E&P company. FML. Write-offs for years - assuming I have anything to write if off against.
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