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re: Crude watch: What's going on?
Posted on 1/5/15 at 2:15 pm to bayoubengals88
Posted on 1/5/15 at 2:15 pm to bayoubengals88
1
Posted on 1/5/15 at 3:09 pm to TigerTatorTots
It's happening
Posted on 1/5/15 at 3:59 pm to TulaneUVA
this is getting redic
Posted on 1/5/15 at 8:03 pm to donRANDOMnumbers
Yeah it is. Both the wife and I work in oil&gas (smart hedging 
), I feel like I'm pretty safe but she works for a rig manufacturer and they've been stacking rigs for the past few months.
), I feel like I'm pretty safe but she works for a rig manufacturer and they've been stacking rigs for the past few months.Posted on 1/6/15 at 10:39 am to barry
quote:
Thats the most expensive oil to get to in the US.
more expensive than Tuscaloosa Shale?
Posted on 1/6/15 at 1:32 pm to castorinho
Who does she work for? Pacific Drilling has stacked one that I know of, but I haven't heard of any others yet. Probably due to the fact that I'm on a PDC rig.
Posted on 1/6/15 at 1:45 pm to Redacted
I have a friend that works for Nabors in Houston and he said they are predicting 20-30% of their rigs to be stacked.
Posted on 8/31/15 at 1:01 pm to 8thyearsenior
Crude up big today after the most recent EIA crude & NG production report was released.
U.S. output down slightly.
U.S. output down slightly.
This post was edited on 8/31/15 at 1:02 pm
Posted on 8/31/15 at 1:23 pm to Louie T
Posted on 8/31/15 at 9:34 pm to Louie T
The last 3 sessions have been good. hoping it goes the rest of the week into travel holiday... Labor Day.
Posted on 8/31/15 at 11:19 pm to Rhino5
Still thinking there is another drop coming, Iran is going to bring a large amount to market when they get the sanctions off. To be honest I am hoping for one, I didnt jump in on XOM and a couple others I have been wanting to thinking it was going to continue or stay stagnant until Jan.
Posted on 9/1/15 at 5:45 am to GREENHEAD22
I listened to a presentation at the Manhattan Institute et al.. on CSPAN yesterday that I agree with in large part.
LINK
LINK
Posted on 9/1/15 at 6:33 am to GREENHEAD22
quote:
Iran is going to bring a large amount to market when they get the sanctions off
probably but at sub $50 many projects won't go anywhere. Technology will have to change greatly for us to maintain supplies at current demand levels for long periods of time.
Posted on 9/1/15 at 7:19 am to C
I don't agree with this. I've seen where some shale producers can make money at $20 WTI. Stunning really if you think about it.
Posted on 9/1/15 at 7:52 am to Iowa Golfer
interesting report, thanks for sharing
Posted on 9/1/15 at 7:57 am to Iowa Golfer
quote:
some shale producers can make money at $20 WTI
main word: SOME.. and not most. we'll see in the future, but I believe we need 60+ for not just shale, but a lot of GoM.
Posted on 9/1/15 at 9:39 am to b-rab2
With GoM projects the initial capital is so large they aren't going to pursue the large projects at low prices even if the break even is at say $35/bbl. No company wants to tie up billions if it takes a long time to see that return and profits start.
We'll have to see some of the smaller companies start to fold and the production numbers to significantly decline before an increase in price holds. Even if OPEC/Russia decides to cut production at their next meeting, U.S. Companies will attempt to pick up the slack if they're still operational at that time.
We'll have to see some of the smaller companies start to fold and the production numbers to significantly decline before an increase in price holds. Even if OPEC/Russia decides to cut production at their next meeting, U.S. Companies will attempt to pick up the slack if they're still operational at that time.
Posted on 9/1/15 at 10:22 am to Iowa Golfer
every field begins to decline shortly after production without continuous reinvestment. $20 will not sustain development of any significance.
Posted on 9/1/15 at 2:38 pm to Iowa Golfer
That report is interesting, but ultimately what matters is profitability. The amount of debt shale producers have racked up will need to be addressed at some point and if prices don't increase some this will put a lot of companies out of business. I've seen a lot of cumulative production numbers that fall short of what some companies have or are projecting. Sub $60 oil in my opinion cannot allow for growth once companies have their borrowing bases trimmed significantly.
Posted on 9/2/15 at 4:12 pm to TigerDog83
Major assets from distressed companies are hitting the market already. I expect more to come through the end of the year with activity increasing int he 1Q 2015. Borrowing base redeterminations are coming next month and the Fed has already weighed in and told the banks they need to limit their exposure. That will force some fairly significant, distressed companies to unload "crown jewel" assets in order to cover expenses. Once they do that they're circling the bowl. And at year-end a lot of hedges will be rolling off so that should accelerate the blood-bath.
As for crude prices themselves - no one can predict where they will land. All I can say is expect a period of high volatility and nothing over $60 over the next year.
As for crude prices themselves - no one can predict where they will land. All I can say is expect a period of high volatility and nothing over $60 over the next year.
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