Jump to content

sunset87

Certifiably Surly
  • Posts

    473
  • Joined

  • Last visited

Everything posted by sunset87

  1. If you watch the second to last video on the link, which is a press conference with a state trooper, the trooper says that the old guy said something to the stabber in the store about not wearing, and then the clerk at the store refused the stabber service. The old man had left the store and was out front when the stabber came out, likely pissed. According to the trooper the old man said something again to the guy and this time he pulled a knife. So yeah, sounds like he snapped. Really shitty deal, but it sounds like the old guy may have said one thing too much.
  2. Ector County (Odessa) reports confirmed and probable cases. The number on the website linked above (BNO Newsroom) is showing only the confirmed cases. The probable cases are all from rapid testing done at a private site and are all positive, like an additional 200+ cases. The Ector County Health Dept. doesn't consider the rapid test accurate enough to report them as confirmed cases. However, a doctor at one of the hospitals basically came out and said the test were accurate and those probable cases should be listed as confirmed. Odessa gonna Odessa... https://www.newswest9.com/article/news/health/coronavirus/new-details-from-ector-county-officials-on-wednesday-paint-new-picture-of-total-covid-19-case-count/513-1f8ad4b6-7b32-427a-8082-307b63570206
  3. Daily new cases have gone up significantly in the last two to three weeks, where I live, but hospitalizations have not increased much. Certainly not relative to new cases. Most of the new cases are younger people which is the most obvious explanation for the relatively low hospitalizations numbers. But, is it possible that the severity of the virus is lessening?
  4. I think the bigger problem is frac crews. There is a large inventory of DUCs and it's going to take a while, with the amount of crews still intact, to get to them. So doubt it will turn around as fast.
  5. Yeah unless the students/athletes reverse course on this, I think it's a done deal. The waters are already poisoned, not sure you can turn back now.
  6. I seriously doubt many people know the history of the origins of the song. But they will now. Do you think with this new understanding most people will have a different reaction to players, coaches, whomever not singing the song?
  7. Was Owens even mentioned in Nahlin's article ? Seems like it might be his year to make an impact.
  8. Wouldn’t you need to do the same thing at the grocery store, pharmacy, hardware store, etc... Any place groups of people are allowed to go and be in the same enclosed place. If you think it’s necessary to be effective for tracing. If they are going to require that for restaurants and it’s that critical, why not everywhere? And I do think contact tracing is critical.
  9. Thanks for that. I've been wondering, wtf is a pangolin.
  10. The author of that article, Art Berman, was an early skeptic of the economics of shale plays. He wrote quite a few articles on the subject. I think in this article he is implying that we are going to see a huge reset of the world economy. Which will take a very long time to recover back to what we consider “normal”. According to him maybe never. How long is the real question.
  11. You can produce your wells a few days during the month so that you are reporting production and holding leases. The key is to not sell oil during this time. You need ample storage in your tank batteries to be able to produce a little oil for several months but not have to sell the stuff.
  12. Admittedly, I am not as well versed as others in my company on what other options we had for loan products. The better ability we have to minimize our losses the better chance we have to keep our employees. Again, happy to have help and we don’t plan on letting anyone go, unless this drags on for quite a while. Which would probably mean we’re done anyway. Just pointing out it would be nice to have some options.
  13. Yeah I get that, but I don’t see the harm in having a longer term for use. Like 6 months or a year. It’s fine if they want to tie the funding to a two month pay period, but some latitude on when and how you use it seems to make a lot more sense. All that being said, I’m thankful and feel somewhat lucky we got funded.
  14. This has probably already been discussed but, our business has received the PPP funding through a small bank. I guess you have to use all of the money in 8 weeks and return what is not used. So if we were allowed to use the money for as long as possible, we could have cut or employees salaries by 25% and covered our losses for maybe 4 or 5 months with the loan money. Instead we are going to pay full salaries for 8 weeks. Otherwise we leave money on the table that we couldn’t use. The loan would have been much more beneficial and efficient if we could spread it out over time. Because this thing is going to last a lot longer than 8 weeks.
  15. I guess we’re going to rip the band-aid off, skin and all.
  16. You must feel pretty special...
  17. Yeah were not selling. That is just the likely scenario if we had to for some reason.
  18. By the way, anyone with banks or financial institutions that are taking possession of O&G properties and are looking for a contract operating arrangement, PM me. We have been producing/operating for 50 years and have 0 debt.
  19. We operate one lease in Hidalgo County, Tx (deep south Texas). It's one of the worst areas in Texas for transportation costs. Our trucking/deduct number is going to $13.00/barrel in May. Using the standard purchasing formula (subbing Houston/Cush differential for the Mid/Cush diff.) for that lease, the May oil price numbers are likely to be negative! We would have to pay the oil purchaser to come get our oil...😬
  20. For Permian producers, May's pricing using the standard WTI posting (not Nymex) formula, with about a week to go for determining the P+ and the WTI/Cushing differential (for Permian crude), is currently at P+ $-2.3, WTI/Cush diff $-5.00. So subtract whatever your deduct/trucking number is from the oil purchaser (maybe around $2.50 as an estimate for leases in the Permian). In this scenario you are looking at (using current monthly averages for P+, and WTI/Cush diff.) around $-10.00/bbl + whatever the WTI posting averages for May. Right now WTI posting is in the $16 to $17 dollar range. If that pricing continues into May (most people think it will, but who knows), you are looking at $6 to $7 a barrel for oil at the wellhead price for producers in May. tldr: lots of wells are going to be shut-in in the upcoming months
  21. Yeah no doubt the high rate horizontals are profitable at $20, but do you want to produce those wells with that price environment. It's got to put a big dent in the economics if you have to produce them for very long at those prices. On the other hand, you've got to pay the bills... Unfortunately, our company is strictly conventional and a lot of it is older production.
  22. We booked a European trip through EF Ultimate Break back in November for a trip in May for our daughter, and paid for the trip insurance. They are telling us we can receive credit and book another trip, but if we cancel they keep about 15% of the total cost. She can't go any time this summer or next and has no idea about her future schedule because of graduating from college in 2 years, so we want the refund. It seems like 15% of the total cost of the trip would be close to their profit margin in normal times. They say they are taking losses from having to cancel hotels, etc..., but I would think they would have insurance for that scenario. Feels like they aren't losing much of anything if you cancel, even if you bought the trip insurance. Are you still going on your trip?
  23. We operate, and are having some heated discussions on this topic right now.
×
×
  • Create New...