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Started By
Message
re: When will oil come back?
Posted on 5/3/17 at 3:13 pm to islandtiger
Posted on 5/3/17 at 3:13 pm to islandtiger
quote:
He likes to think he has more control than he really does
true, but he can certainly enact measures that make fossil fuels more affordable and available.
enjoy the next 4 years snowflake.
0
Posted on 5/3/17 at 3:14 pm to fareplay
quote:
I want it to be 120 a barrel again
$70-$90 is the sweet spot. Just enough high enough to keep the projects flowing at a nice pace and low enough to not piss off too many consumers.
Posted on 5/3/17 at 3:15 pm to fareplay
Oil is back. It just went somewhere else.
Posted on 5/3/17 at 3:16 pm to Breesus
quote:
We should be self sufficient.
We (the U.S.) is self sufficient. We are energy independent. We are net exporters.
Posted on 5/3/17 at 3:17 pm to GumboPot
quote:
We (the U.S.) is self sufficient. We are energy independent. We are net exporters.
Posted on 5/3/17 at 3:17 pm to GumboPot
Hopefully never. Just paid $2.59/gallon for regular....
Posted on 5/3/17 at 3:18 pm to islandtiger
quote:
He has no ability to "bring coal back"
He is already pushing to repeal regulations which have greatly reduced our abilities to mine and burn coal for energy in the U.S. He seems to be close to a trade deal with China to increase exports of U.S. coal to them in exchange for cooperation on pressuring the North Korean regime to give up their nuclear aspirations. DPRK's primary export is coal to China. China has already started rejecting their coal shipments.
The president does have some authority to help the coal industry and appears to be exercising it to do so.
Posted on 5/3/17 at 3:19 pm to GumboPot
I just want it to get back to a level where the TMS wells are profitable again. It was nice working a half hour from the house 
Posted on 5/3/17 at 3:20 pm to Sun God
quote:
I just want it to get back to a level where the TMS wells are profitable again. It was nice working a half hour from the house
You may be a fossil before that happens.
Posted on 5/3/17 at 3:25 pm to fareplay
Upstream has increased in certain basins obviously, ND seems weak, Permian/Eagle Ford moving up. Offshore projects take a while but are still rolling a little.
Offshore companies are starting to bring their costs down with subsea tieback being more common as well as more accurate/efficient drilling practices. Offshore will stay in the game cause of this and be able to operate around 30-40 a barrel at breakeven. The main thing in this downturn is for them to go after the ideal (big money/lower risk) objectives and same reservoir step out wells.
Another big thing for offshore is standardizing equipment like shale...these custom rigs for each project kill companies.
At the end of the day opening up new areas will only keep options open for producing at lower prices if they are there. From geologists I've worked with before, they say the rock over on the Atlantic coast is garbage. But not enough research has been done to my knowledge. Especially no seismic to any extent has been shot out there. Now Eastern Gulf could be pretty awesome, as Florida is a huge carbonate platform similar to what's in the Permian and the ME.
Prices have to stabilize, which means the stockpiles have to come down and stabilize. The only way that is coming down is if refineries run at over 95% for the summer and most of the fall while the US uses an obscene amount product (gasoline and distillates). Another option is OPEC continues there cuts and US Shale production stalls or drops off (won't happen probably unless pipelines max out transportation capacity.) Realistically, OPEC may extend their cuts, shale will continue to increase. Global supplies will decrease, US supplies will decrease a little over the summer like it normally does.
$50 dollars is here to stay for another year or two unless someone bombs the wrong person.
Offshore companies are starting to bring their costs down with subsea tieback being more common as well as more accurate/efficient drilling practices. Offshore will stay in the game cause of this and be able to operate around 30-40 a barrel at breakeven. The main thing in this downturn is for them to go after the ideal (big money/lower risk) objectives and same reservoir step out wells.
Another big thing for offshore is standardizing equipment like shale...these custom rigs for each project kill companies.
quote:
Is trump helping the oil come back in the gulf?
At the end of the day opening up new areas will only keep options open for producing at lower prices if they are there. From geologists I've worked with before, they say the rock over on the Atlantic coast is garbage. But not enough research has been done to my knowledge. Especially no seismic to any extent has been shot out there. Now Eastern Gulf could be pretty awesome, as Florida is a huge carbonate platform similar to what's in the Permian and the ME.
Prices have to stabilize, which means the stockpiles have to come down and stabilize. The only way that is coming down is if refineries run at over 95% for the summer and most of the fall while the US uses an obscene amount product (gasoline and distillates). Another option is OPEC continues there cuts and US Shale production stalls or drops off (won't happen probably unless pipelines max out transportation capacity.) Realistically, OPEC may extend their cuts, shale will continue to increase. Global supplies will decrease, US supplies will decrease a little over the summer like it normally does.
$50 dollars is here to stay for another year or two unless someone bombs the wrong person.
This post was edited on 5/3/17 at 3:28 pm
Posted on 5/3/17 at 3:25 pm to Sun God
quote:
I just want it to get back to a level where the TMS wells are profitable again. It was nice working a half hour from the house
I was reading in the Oil and Gas Investor today about the company that just bought Encana's TMS stuff. Have no earthly idea what they could be looking at in this price environment. They compared it to an "early Eagle Ford". They'll probably destroy some more capital and walk away pretty soon.
Posted on 5/3/17 at 3:28 pm to TigerDog83
Decommissioning old offshore facilities is likely to become a big business. Starting in the North Sea then probably moving to the GOM.
This post was edited on 5/3/17 at 3:29 pm
Posted on 5/3/17 at 3:28 pm to redstick13
Yeah I know . The main issue price wise was production which improved greatly the 2 or so years I was there. But still way more expensive on a per well basis than in west Texas.
. The main issue price wise was production which improved greatly the 2 or so years I was there. But still way more expensive on a per well basis than in west Texas.
Posted on 5/3/17 at 3:49 pm to fareplay
One of my friends started an oil field service company and got everyone who would listen to invest.
This downfall caused him to have a heart attack and die
And all the investors were left screwed when they found out he owed uncle Sam 90K
This downfall caused him to have a heart attack and die
And all the investors were left screwed when they found out he owed uncle Sam 90K
Posted on 5/3/17 at 3:53 pm to GumboPot
quote:
We (the U.S.) is
We is?
Posted on 5/3/17 at 3:54 pm to Breesus
I reread that to myself a couple of times. The next sentence he uses "are"Posted on 5/3/17 at 3:56 pm to fareplay
quote:
Oil baws, what are you heating about upstream oil? My towns economy pretty much is dependent on it coming back. Is trump helping the oil come back in the gulf?
Sounds like your town needs to diversify. Yall got the peak oil blues?
Posted on 5/3/17 at 4:00 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.
Exactly. Which will cause faster inflation, which will a lead to higher minimum wage, which will cause even faster inflation, etc etc etc
Posted on 5/3/17 at 4:05 pm to fareplay
quote:
Is trump helping the oil come back in the gulf?
putting your hopes in trumpkin has me like ...
Posted on 5/3/17 at 4:07 pm to TigerDog83
quote:
was reading in the Oil and Gas Investor today about the company that just bought Encana's TMS stuff. Have no earthly idea what they could be looking at in this price environment. They compared it to an "early Eagle Ford". They'll probably destroy some more capital and walk away pretty soon
That's ridiculous. Hopefully they got a cheap deal, because companies were struggling to make that profitable at $90 oil
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