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Posts posted by The Royal We
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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.
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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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What a f'n horror show this is.
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Just now, Ghost of LL said:
And that's really why these pastors are filing this suit. People attending church via Zoom almost certainly don't give as much as those sitting in the pews.
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5 minutes ago, Biff Tannen said:
I guess I'm having trouble seeing the issue here if a small town wants to be stupid. Isn't this just Darwin?
Well, what about all the intelligent people that have been following best practices? Won't these Gohmert fanbois increase the risk to them when they have to make a grocery run? Or god forbid have a medical emergency that requires a visit to the hospital that is now overrun with CV19 cases?
Asking for a friend.
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That was my first thought as well (what this could mean for our future) - the Nac hospital system serves quite a few smaller communities in the area. If CV19 really gets loose around here the system will be overwhelmed and it's not going to be pretty.
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31 minutes ago, Longhorn_Fan68 said:
Very interesting link. You can drill down to individual counties. This site uses cell phone location data to see who is staying put and who is still moving around. Travis County got an 'A' rating and is in the top 5 counties in Texas:
https://www.unacast.com/covid19/social-distancing-scoreboard
Sweet, my county - Nacogdoches, gets a F with an 8% reduction in travel. Not too much of a surprise from the people that keep reelecting a human dumpster fire as our US Rep.
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8 hours ago, Hornius Emeritus said:
What?
At the end of yesterday there were 30,861 deaths.
There are currently 33,976. That's a difference of 3,115.
Sorry, I should have been more specific, I’ve been watching the new daily deaths in the US. This has been steadily increasing towards 1,000/day before taking a big step down yesterday.
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Daily deaths cut in half today according to worldometers, down to 264. I would love to be excited about that, but is it a glitch or do they update again before the end of the day?
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I've been playing quite a bit of Warzone and really enjoy it. I prefer playing the Plunder mode which is not quite as intense, but the end game is still a lot of fun.
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Just read that my hood of Nacogdoches has its first confirmed case. The press release that the county sent out was actually very well done and gives the impression there is a plan in place - including opening up drive through testing starting today.
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At what point does XOM become a buy? Currently at ~$32.50/share - you have to go all the way back to 2002 to find these levels.
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My best friend's sister and brother in law in Dallas have it. Their doctor wouldn't/couldn't give them a test, but diagnosed them and sent them home - I think this was ~10 days ago. Brother in law is almost back to normal but his sister still has a fever and is miserable. Her dumbass went by their parent's house days after being diagnosed because she didn't have symptoms. He said that was 5 or 6 days ago and the parents aren't showing any signs of having it yet, but that was a completely unnecessary risk.
My parents in their late 60s are finally realizing this thing is not a hoax. I got a text from my mom yesterday that she thought "shit was about to get real." No joke, I wonder what changed yesterday to make her reevaluate? Last week I was urging/cussing at them trying to get them to avoid going out as much as possible and they were polite about it, but pretty much waived me off. My dad is 69, still hits the lung darts, has COPD, has 40% blockage in one of his arteries and is 30+ lbs overweight. He played golf yesterday. They live in a tiny town and the golf course is probably not the worst place to be, but burning heaters and hanging out with his old fart buddies is probably not the best idea right now.
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3 minutes ago, babysdaddy said:
The people that waited to make supply runs are going to catch it at Costco/Sams/etc. Buncha fat fucks going to kill each other and spread it.
This was my first thought as well. Those fatties are standing way too close together.
F all of that.
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You're hurting the wrong people!
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35 minutes ago, 4th&Five said:
We've always been at war with Eastasia!
This ignorant assbag is going to get more people killed and then blame it on the FT reading tan suit wearer.
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5 hours ago, Mo Horn said:
Yea for people dying around the world.
Can the resident Trumpkins please tell us more about all the gaffes Biden will make and how that will kill his campaign?
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3 hours ago, BLKNSTY said:
If we close red (we’ve been drifting downwards the last hour or so) on the day of the largest rate cut since 2008, hold on to your shit fellas. I haven’t moved to cash, and in fact have bought the dip, but today will be incredibly telling. Might actually pull the trigger.
A 50 bp rate cut?? A few weeks after we hit all-time highs??
Sent from my iPhone using TapatalkWelp.
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19 minutes ago, akhornfan said:
That it’s not killing everybody
What's the threshold on the number of US deaths as a result of this outbreak that would cause you adjust your outlook that this is just like Ebloa? 25? 100? 1,000? 10,000? I'm curious where folks like you, Zork and the rest of the Ministers of Information might draw the line here.
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This makes no sense. Let's gorge on more of our seed corn even though we've already got the sugars and the high blood.
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I'm not worried for me or my immediate family, but I am somewhat concerned about my parents and in-laws. My pops is overweight and still hits the lung darts, he also works in sales and travels quite a bit, so I'm most concerned about him catching it.
I'm also concerned about the potential for our hospitals being swamped and the 15-20% of people that catch it and need extensive time in the hospital. I think that is the worst case scenario for this whole thing. My concern is intensified by our clown car of an administration trying to manage the response.
And maybe it's just because of my heightened awareness of it, but I agree with Tantric upthread - it sure seems like everyone in the general public is hacking and sniffling already.
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Good f'n Lord.
Good for Dr. Fauci for standing his ground - Dotard isn't used to that and with the arms crossed and whatnot, you can tell he doesn't like it. I'm pretty sure my 10 year old could grasp some of these concepts more easily than our president. And he'd have the added benefit of not believing in his heart of hearts that he's the smartest person in the room.
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New lake record Largemouth on my home waters last weekend - 15.34 lbs. The 2nd ShareLunker caught on the lake already this year.
https://kicks105.com/mammoth-largemouth-sets-new-bass-record-at-lake-nacogdoches/
CR: COVID-19 --Political Talk
in Cloak Room
Posted
Where are you getting your data from? Worldometers and 1point3acres have not posted complete data yet for today.