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Message
re: Oil Field Rumblings
Posted on 11/10/16 at 4:09 pm to CorporateTiger
Posted on 11/10/16 at 4:09 pm to CorporateTiger
quote:
People are though trying to beat any potential rush on projects that will come to fruition more than two years from now. The Trump win ensures there won't be a moratorium on drilling, so there is less uncertainty in getting bids for long term projects.
This is my assumption as well. Although, there have been some bids requested for long term projects.
0
Posted on 11/10/16 at 4:09 pm to ibleedprplngld
quote:
I work for a large oil field services company in the Project Management/Estimating department.
Since the election, less than 48hrs ago, I've received about 10 inquires for new platform projects and about 20 for platform improvement projects. Some on the shelf in the Gulf and some deep water. Let's drill, bitches!
Just goes to show you the immediate affect Trump has had on the economy. Pretty crazy.
I received a new project yesterday afternoon. Not saying there is a correlation (but there is...believe me).
Posted on 11/10/16 at 4:11 pm to bmy
quote:
There is no oil supply shortage. More drilling isn't going to help.
Demand will. Let's get the economic engine running again. Infrastructure projects would be a huge help.
Posted on 11/10/16 at 4:15 pm to ibleedprplngld
There is a fundamental market problem that American politics has very little impact on
Posted on 11/10/16 at 4:19 pm to ibleedprplngld
Everyone of those projects started years ago.
Shell has put the breaks one project for next year and another originally scheduled for 2018.
The two Hess projects started many years ago and the Chevron Bigfoot project is about five years behind schedule.
A 100 million dollar rig must be really small. Hell a small Jack Up Drilling Rig will cost more than 300 million now to build.
Shell has put the breaks one project for next year and another originally scheduled for 2018.
The two Hess projects started many years ago and the Chevron Bigfoot project is about five years behind schedule.
A 100 million dollar rig must be really small. Hell a small Jack Up Drilling Rig will cost more than 300 million now to build.
Posted on 11/10/16 at 4:21 pm to ibleedprplngld
Hope so. ROV work is slow as hell. Been home 6 weeks already. Finally have a 2 week job to go on starting sunday
Posted on 11/10/16 at 4:23 pm to ibleedprplngld
Nice baw.
I work for a pipeline company....we ready to move it when you get it out of the ground
I work for a pipeline company....we ready to move it when you get it out of the ground
Posted on 11/10/16 at 4:23 pm to cjared036
Have two of my customers in west texas picking up 10 plus rigs by January..
Posted on 11/10/16 at 4:23 pm to ibleedprplngld
Still don't see significant activity increase until oil goes up. Most capital programs are still looking flat for 2017
Posted on 11/10/16 at 4:25 pm to KiwiHead
quote:
Hate to burst your bubble on this one, but until Saudi goes back to May 2014 production levels, any new projects will be limited at best.
There was an article I read not to long ago that the Saudi Oil Minister (prince) was beginning to take the stance that they should start to curve production on their end and start stabilizing the global market. Not sure how much truth there was to it. I'm no economist, just thinking the Saudi's may be seeing the benefits of high prices vs flooding the market.
Posted on 11/10/16 at 4:26 pm to back9Tiger
Yes please I need to gtfo west Texas and back home baw
Posted on 11/10/16 at 4:27 pm to DaBike
quote:
Still don't see significant activity increase until oil goes up.
Before i ask this I'll admit I'm not well versed in how the economics of this particular industry work (as I said I work for a pipeline company....didn't say I was a software developer
). Is it possible that by relaxing regulation and taxation that Trump could potentially lower the cost to profit from $60+/barrel to around $40/barrel....sounds like a lot to me honestly but I have heard people talk about this.
This post was edited on 11/10/16 at 4:28 pm
Posted on 11/10/16 at 4:28 pm to TigerFred
100 million pipe line. My bad, not specific enough there. Just the insulation on the pipeline actually. Doesn't include the steel, field jointing, and lay barge.
Appomattox and Rydberg. There's a third coming after Rydberg as well, can't recall the name though.
Appomattox and Rydberg. There's a third coming after Rydberg as well, can't recall the name though.
This post was edited on 11/10/16 at 4:30 pm
Posted on 11/10/16 at 4:28 pm to DaBike
Yea this will have nothing to do with work picking back up. Im in O&G and just switched from completions side to production. Like it was said earlier all the projects you mentioned have been budgeted for years.
Whats the construction postion is Newo? Ive been contemplating switching industries.
Whats the construction postion is Newo? Ive been contemplating switching industries.
Posted on 11/10/16 at 4:31 pm to LSU316
I mean stripping regulations wouldn't hurt, but I honestly doubt cost of compliance is a particularly big driver in the industry at this point. The direct costs are a much bigger driver.
Ultimately there is just too much oil for not enough economic activity at the moment.
Ultimately there is just too much oil for not enough economic activity at the moment.
Posted on 11/10/16 at 4:31 pm to LSU316
quote:
Is it possible that by relaxing regulation and taxation that Trump could potentially lower the cost to profit from $60+/barrel to around
Every little bit helps but the real cost are in materials and labor.
Posted on 11/10/16 at 4:31 pm to KiwiHead
quote:
Price for unleaded in the NOLA/BR area is about $1.90
WTI is sitting at 44.30 a barrel and the OPEC basket is 41.90.
Prices for both have to be at a minimum of $60.00 for there to be real activity to even begin and the price for a gallon has to be 2.65/2.75
I am not it the O&G field but what would be the negatives on the following scenario?
An import ban on foreign oil as long as the domestic price lets gas run at $3 or less? If it goes over then foreign imports could happen.
The extra cost would be money that is reinvested in our own economy. And we would not be sending money to countries that hate us and use that money to fund terrorism.
How bad of an idea would that be? As I said I know nothing about these markets... so please be easy on me.
Posted on 11/10/16 at 4:33 pm to LSU316
quote:
Is it possible that by relaxing regulation and taxation that Trump could potentially lower the cost to profit from $60+/barrel to around $40/barrel....sounds like a lot to me honestly but I have heard people talk about this.
It's certainly possible. I'm not well versed in how much regulation effects the bottom line but I'd assume any cost saving results in greater profits.
Posted on 11/10/16 at 4:40 pm to ibleedprplngld
quote:
Hess will be completing a deep water rig early 2017
Working on this one now.... should float out in the spring. Has really been a good project. Hess will probably cut a fat hog in the arse once they start producing. Looks like they times the project just about perfect.
Posted on 11/10/16 at 4:47 pm to alphaandomega
quote:
n import ban on foreign oil as long as the domestic price lets gas run at $3 or less? If it goes over then foreign imports could happen
The problem is the fear of the 1970's oil embargo and if we needed oil we couldn't get it.
Basically to simplify it. If we needed to go to war with those countries they would have us by the balls.
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