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Posted on 5/3/17 at 2:30 pm to fareplay
Permian Basin Baws got some work in the pipeline.
Posted on 5/3/17 at 2:30 pm to GreatLakesTiger24
quote:
you must know a lot abount economics
Posted on 5/3/17 at 2:32 pm to Bob Sacamano
quote:
$100 oil is gone for a long time.
Decent chance that it's gone for good. Peak demand is projected in about fifteen years, right?
Posted on 5/3/17 at 2:33 pm to fareplay
It's back for me. 
Just give me 10-12 more years
Just give me 10-12 more years
Posted on 5/3/17 at 2:38 pm to amo3822
I want oil to be high enough to give back leverage to the employees.
Posted on 5/3/17 at 2:40 pm to fareplay
The more we drill, the more oil prices will stay sub $60 unless there is some major event that disrupts worldwide production.
Posted on 5/3/17 at 2:43 pm to fareplay
Oil will get over $100 once we forget about all that oil under our feet. Don't see that happening. I think $60 is a good price in this day and age.
Posted on 5/3/17 at 2:45 pm to fareplay
Unless a war happens not anytime soon, like I am looking for another industry to have a career in soon.
Posted on 5/3/17 at 2:46 pm to ksayetiger
quote:
Do you also like higher prices for every good? You know, like the things you dont need like food?
Thing is, the prices went up due to transportation cost, and they never went back down once oil hit the low. No doubt, if oil reached $75 a barrel again they will hike prices again and use the same excuse as last time.
Posted on 5/3/17 at 2:51 pm to GREENHEAD22
quote:
Unless a war happens not anytime soon, like I am looking for another industry to have a career in soon.
Louisiana should have learned in the 80s that it can't heavily depend on the oil industry.
I think there will still be more job casualties as a result of the state of the oil industry.
Posted on 5/3/17 at 2:54 pm to saintsfan1977
quote:
Thing is, the prices went up due to transportation cost, and they never went back down once oil hit the low. No doubt, if oil reached $75 a barrel again they will hike prices again and use the same excuse as last time.
Some of that is simply inflation catching up with goods after oil pulls back. Super markets, for instance, are extremely tight-margin businesses.
Posted on 5/3/17 at 3:02 pm to LSUAlum2001
Perfect example: oil has bounced over $50 several times in the last few months. Each time it does go over $50, companies ramp up production and the price goes back into the upper $40's.
To make $50 oil more economic to produce, better seismic technology needs to be developed. Currently about a 3rd of deepwater exploration drills are successes. These projects have a dry hole cost of around $70MM to $100MM. So it cost roughly around $210MM to $300MM just to find oil. Better seismic technology would increase the chance of success, saving money, and also make it easier to strike up joint ventures with other companies.
To make $50 oil more economic to produce, better seismic technology needs to be developed. Currently about a 3rd of deepwater exploration drills are successes. These projects have a dry hole cost of around $70MM to $100MM. So it cost roughly around $210MM to $300MM just to find oil. Better seismic technology would increase the chance of success, saving money, and also make it easier to strike up joint ventures with other companies.
Posted on 5/3/17 at 3:03 pm to OweO
quote:
What Ivy league school do you have a degree from?
Well, apparently what I posted wasn't obvious to everyone or else they wouldn't have started this thread. Don't blame me for giving out obvious information, blame the OP asking for what should be obvious information.
Posted on 5/3/17 at 3:08 pm to fareplay
quote:
Back when it was 4$ a gallon they were paying 40$ an hour
yeah, and people don't like paying $4/gallon. so, either you speed up the technology to get rid of gas burning cars for good. or, you make less money, everyone is happy paying $2/gal, and we use oil/gas for a while longer.
Posted on 5/3/17 at 3:09 pm to Clyde Tipton
quote:
We've gotten busy again the last 4 months.
We've been rolling since New Years. Lots of West Texas work and things are definitely looking up all over.
Posted on 5/3/17 at 3:10 pm to fareplay
We seem to be doing just fine
This post was edited on 5/3/17 at 3:10 pm
Posted on 5/3/17 at 3:11 pm to Halftrack
quote:
Trump's bringing coal back.
He has no ability to "bring coal back" nor does he have control over global oil prices (short of starting WWIII). He likes to think he has more control than he really does. Kind of fun to watch him get frustrated when he snaps his fingers and nobody responds!
Posted on 5/3/17 at 3:11 pm to fareplay
quote:
These baws need to support the oil baws when economy is down.
interesting how everyone becomes a liberal when they're broke, but couldn't give two shits about anyone else when you're holding the cards
Posted on 5/3/17 at 3:12 pm to fareplay
There's too much supply. We saw a small uptick in activity in Q2 and expect it to basically stay flat rest of 2017. Only small growth in 2018 with the industry somewhat stabilizing. Expect it to stay this way for 2-3 years. Better get accustomed to the status quo.
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