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Started By
Message
re: Oil Field Rumblings
Posted on 11/10/16 at 3:58 pm to back9Tiger
Posted on 11/10/16 at 3:58 pm to back9Tiger
Can't imagine new drilling with prices per barrel so low. For your sake, I hope so.
5
Posted on 11/10/16 at 4:00 pm to Popths
quote:
Can't imagine new drilling with prices per barrel so low. For your sake, I hope so.
Perhaps anticipated lifting of regulatory burdens could make some projects profitable now? I have no clue about the industry.
Posted on 11/10/16 at 4:01 pm to Popths
quote:
Can't imagine new drilling with prices per barrel so low. For your sake, I hope so.
Price doesn't affect construction as much as you would think. There are at least 3 new deep water rigs in process already. One should be completed here in the next 3 months. It's the improvement projects that are more telling of the industries immediate future.
Posted on 11/10/16 at 4:01 pm to Popths
quote:
Can't imagine new drilling with prices per barrel so low
We're going to produce so much oil, no one will make any money off of it!!
'Merica!
Posted on 11/10/16 at 4:02 pm to Popths
I have a few clients that have started investing into new projects. so that once the price gets right they start pumping immediately.
Posted on 11/10/16 at 4:02 pm to Popths
quote:
Can't imagine new drilling with prices per barrel so low. For your sake, I hope so.
Ex oilfield here. While exploration isn't done in a vacuum, the price of oil doesn't necessarily drive the exploration side. They have to drill in a certain time frame to retain a lease regardless of the current price. Granted, if the price is so low they don't have any capital then it's a problem.
A lot of times they will drill and cap off and come back later to complete, produce, or set a platform.
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