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Message

$19 Crude. Wow.

Posted on 3/29/20 at 5:41 pm
Posted by bayoubengals88
LA
Member since Sep 2007
18949 posts
Posted on 3/29/20 at 5:41 pm
Posted by kaaj24
Dallas
Member since Jan 2010
610 posts
Posted on 3/29/20 at 5:47 pm to
Wow
Posted by cgrand
HAMMOND
Member since Oct 2009
38830 posts
Posted on 3/29/20 at 5:49 pm to
should I buy a couple barrels and sock them away?
Posted by Boh
Baton Rouge
Member since Oct 2009
12357 posts
Posted on 3/29/20 at 5:51 pm to
Crazy times. I’ll keep buying but this is surreal
Posted by bayoubengals88
LA
Member since Sep 2007
18949 posts
Posted on 3/29/20 at 5:56 pm to
quote:

should I buy a couple barrels and sock them away?
Posted by bayoubengals88
LA
Member since Sep 2007
18949 posts
Posted on 3/29/20 at 5:56 pm to
quote:

I’ll keep buying but this is surreal
etfs or majors?
Posted by Lgrnwd
Member since Jan 2018
5250 posts
Posted on 3/29/20 at 5:59 pm to
You ain’t seen nothing yet
Posted by Boh
Baton Rouge
Member since Oct 2009
12357 posts
Posted on 3/29/20 at 6:01 pm to
Well lately i’ve been focused on the majors. Should i favor the ETFs more during this craziness?
Posted by Thecoz
Member since Dec 2018
2540 posts
Posted on 3/29/20 at 6:04 pm to
Pick your majors not etf or index...
You want someone that can survive on assets and live through a low price...
That is not shale players——oil or service

Back to the future...1980s:(
Posted by Shepherd88
Member since Dec 2013
4590 posts
Posted on 3/29/20 at 6:09 pm to
If the government plans on saving the airlines then you can bet you arse they gonna save big oil. It’s a matter of national emergency now that we are the worlds leading producer.
Posted by Boring
Member since Feb 2019
3792 posts
Posted on 3/29/20 at 6:10 pm to
quote:

You want someone that can survive on assets and live through a low price


Yeah Exxon, Chevron, Shell, and BP will be the only ones that make it through this intact. Marathon, Apache, Continental, Pioneer, Oxy etc. will all be history unfortunately.
Posted by Thecoz
Member since Dec 2018
2540 posts
Posted on 3/29/20 at 6:13 pm to
they will be ripe for "mergers" by the big survivors....
Posted by SoloTiger
Member since Aug 2016
9510 posts
Posted on 3/29/20 at 6:15 pm to
EOG will survive.

$10 bbl is not out of the question according to my cousin that works for Shell.
Posted by LSUregit
Member since Dec 2013
1620 posts
Posted on 3/29/20 at 6:20 pm to
Trump must have stroked the crown prince the wrong way.
Posted by Boring
Member since Feb 2019
3792 posts
Posted on 3/29/20 at 6:20 pm to
quote:

$10 bbl is not out of the question according to my cousin that works for Shell.


"My cousin that works for Shell" is like the "my wife's friend's neighbor on Facebook"

But yeah, while nobody knows what will happen, nothing is out of the question. Could be negative prices, or we get black/white swan even and the shite shoots to $100
Posted by rocket31
Member since Jan 2008
41819 posts
Posted on 3/29/20 at 6:22 pm to
quote:

$10 bbl is not out of the question according to my cousin that works for Shell.


wow if true
Posted by GREENHEAD22
Member since Nov 2009
19610 posts
Posted on 3/29/20 at 6:28 pm to
If SA and Russia stick to the script then it is possible however not sure if either especially SA can hold out.
Posted by Louie T
htx
Member since Dec 2006
36319 posts
Posted on 3/29/20 at 6:31 pm to
quote:

If SA and Russia stick to the script then it is possible however not sure if either especially SA can hold out.

They definitely can for a while. Their 4-5 year estimate is likely exaggerated, but 6 months of this ain't squat for the Saudis.

It's not ideal, so I'm sure they're back-channeling trying to get it resolved.
This post was edited on 3/29/20 at 6:33 pm
Posted by GREENHEAD22
Member since Nov 2009
19610 posts
Posted on 3/29/20 at 6:35 pm to
While their lifting cost are super cheap the price they need to run the country is much higher. Still around 85 a barrel.
This post was edited on 3/29/20 at 7:00 pm
Posted by cwill
Member since Jan 2005
54752 posts
Posted on 3/29/20 at 6:42 pm to
quote:

EOG will survive.



Unless prices improve not even eog, a shaleco, can survive this price environment.
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