Jump to content

Hey Oil Barons.......


936horn

Recommended Posts

Any non op investors on here?  We are looking at a deal and trying to raise the funds to acquire, quick close, operated assets, ~200 bbls per day, easy low capital upside.  Buying on pdp only, PM me for more details and a CA if you are interested.  Timing is tight as we are trying to get capital commitment by May 31. 

Link to comment
Share on other sites

Any non op investors on here?  We are looking at a deal and trying to raise the funds to acquire, quick close, operated assets, ~200 bbls per day, easy low capital upside.  Buying on pdp only, PM me for more details and a CA if you are interested.  Timing is tight as we are trying to get capital commitment by May 31. 

Valuing PDP on PV12? Just curious.
Link to comment
Share on other sites

Baseless prediction time:

Pioneer and Parsley merge.  Daddy Sheffield just took the reigns back at Pioneer, but with the Jr. Sheffield out of the way at Parsley and dad having stepped aside, it looked like it was clearing the way for a merger that wouldn't be based wholly and completely on nepotism (even though that's exactly what it would be).  

  • Like 1
Link to comment
Share on other sites

Guest Lobo

Finally my business idea of corn-fracking will take off.  

You see, instead of planting corn vertically, we'll plant it horizontally.  

Edited by Lobo
Link to comment
Share on other sites

Win for farmers 


2fabc3fc62ccd5e0b954873dc97d1ea2.jpg

more of a trade off for tanking ethanol credits during his presidency than anything else I’d say. the 2016 dip correlates to him winning the presidency and campaigning on the premise that he’d dismantle the whole ethanol credit program. the subsequent rally was the hope that Grassley/Ernst would reign him in - you can see how effective that was.

don’t see how it’ll create any appreciable more demand for ethanol though.
Link to comment
Share on other sites

I'm more frustrated with the proposed coal and nuclear subsidies. You can't push "Freedom Gas" out of one side of your mouth and coal/nuclear subsidies out the other side. Either it's profitable or it's not. Don't prop up dying industries. If you need a back up for the grid, just throw a bunch of already produced coal in cave.

I'm an oil and gas guy, but I guess I'm cool with solar. It's not an eyesore and doesn't kill birds like wind. If we can figure out a way to not buy so many solar panels from China, it could be a good thing some day. I hate paying electric bills too. 

Edited by billfromlaketravis
Link to comment
Share on other sites

I haven't seen the refinery throughput for the last few weeks.  This looks like one of those crazy months long setups where the weekly reports are horribly skewed and we're on the precipice of a run of massive drawdowns because of refinery throughput variance.  

Link to comment
Share on other sites

20 minutes ago, jimmyjazz said:

Apparently I should have sold my ESV prior to it dropping to $8 from my (post-split) $35 cost basis.  Kee-rist.  I gotta pay more attention.  That one was in the long term bucket.

I had a bunch as well.   I sold it at about 15.75 post split after a lot of extreme volatility the days following the split.   Glad I did.   Not so happy about watching CHK trading in the $1.90’s again.   I’m at about 2.88 average on it.  Was there a mere 3 weeks ago 

Link to comment
Share on other sites

Anyone know anything about CGS Operating, LLC.  Appears to be a brokerage bunch out of Decatur or possibly Tyler.  They are leasing a large block of acreage in far northern Midland Basin in an area that I foolishly thought was out of the unconventional plays.  I'm curious who they are leasing for.  Looks like they just busted up a small conventional drilling deal we were in the process of putting together. Lovely...

Link to comment
Share on other sites

30 minutes ago, The Royal We said:

I'm seeing pain everywhere from my clients, especially in OK and GOM shelf/state waters.  If we go into a recession and commodity prices continue to fall it's going to be a f'n bloodbath.

Correct 

there’s a shit ton of petro chem / refinery / lng expansion in the pipeline and China is the main market 

Link to comment
Share on other sites

I've been through a few cycles but this one feels different because of all the changes to the PE model in the E&P space.  In past slowdowns there seemed to always be a pile of PE money that was ready to jump in and scoop up deals at depressed prices.  But those off-ramps are few and far between - especially in the water.  There's going to be a lot of junk that ends up in the state's lap for both LA and TX.  It's depressing to think about how many abandoned well bores and facilities are going to be left out there with no operator and no state funds available to P&A/decommission.

  • Like 1
Link to comment
Share on other sites

30 minutes ago, The Royal We said:

I've been through a few cycles but this one feels different because of all the changes to the PE model in the E&P space.  In past slowdowns there seemed to always be a pile of PE money that was ready to jump in and scoop up deals at depressed prices.  But those off-ramps are few and far between - especially in the water.  There's going to be a lot of junk that ends up in the state's lap for both LA and TX.  It's depressing to think about how many abandoned well bores and facilities are going to be left out there with no operator and no state funds available to P&A/decommission.

Well, we are relatively fresh off the last downturn. Everyone who kept their powder dry in '14 and '15 unloaded it all in '16 and '17. I'd be surprised if there was much capital left for M&A in the event of another downturn so quickly after the last one.

Link to comment
Share on other sites

Great point.  I do think there is still a decent amount of dry powder in the PE funds, but the lack of available exit strategies has them gun shy.  They are going to have to actually build sustainable operating companies instead of drilling a couple dozen wells and flipping it out to someone else.

Link to comment
Share on other sites

2 hours ago, Dr. Beeper said:

I’m bullish on buying conventional PDP because of the valuations (PV15-18). To The Royal We’s point, I wouldn’t be doing it to flip. I’d be building a small operating company. 

There are assets that cash flow available for 2.5x, 3.0x cash flow. That intrigues me. I’m concerned about price, but, would hedge the hell out of my volume. Y’all poke holes in the strategy. 

My biggest concern as a small operator would be regulatory changes after 2020 on fugitive methane emissions causing expensive retrofits on existing facilities. 

Link to comment
Share on other sites

30 minutes ago, Dr. Beeper said:

I’m looking at a deal now - about to make offer - that literally produces no gas. 

How volatile is the oil? I see more problems with flash off the Oil tanks than from produced gas. 

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...