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Started By
Message
re: Texas Is About to Create OPEC's Worst Nightmare
Posted on 11/22/18 at 8:02 am to lsufan1971
Posted on 11/22/18 at 8:02 am to lsufan1971
quote:
The Saudi’s have to start transitioning their economy to more non Petro industries.
Lol like what? Sand exports? Contract terrorism?
0
Posted on 11/22/18 at 8:05 am to Bunk Moreland
quote:
If it's unconventional, then that does nothing to discredit peak oil.
Lol wut?
Posted on 11/22/18 at 8:10 am to Smart Post
Lol, UT proper gets the same as us, man. UT medical gets the last 3rd.
We’re all still drowning in money
We’re all still drowning in money
Posted on 11/22/18 at 8:23 am to Revelator
quote:
With terminals nearly full, Permian barrels could end piling up in the ports of Corpus Christi and Houston.
welp
looks like SWLA will continue to be the sole economic driver of LA
Posted on 11/22/18 at 8:26 am to trinidadtiger
quote:
We also have several LNG export plants coming online.
Posted on 11/22/18 at 8:39 am to SlowFlowPro
Will never forget when OPEC bent us over, the 70s....they could go away tomorrow and it wouldn't be soon enough
Posted on 11/22/18 at 8:48 am to SlowFlowPro
quote:If the projects that are expected to break ground in 2019 actually happen, it's going to be crazy good in Lake Charles, even more than it is now.
looks like SWLA will continue to be the sole economic driver of LA
Posted on 11/22/18 at 9:01 am to LSUgusto
i heard (but not from what i'd consider a reliable source) that the super duper expansion/project that was cancelled a few years ago may be back online. if that motherfricker happens, holy shite.
with offshore getting crushed, this may be the final tipping point in the LC/LAF rivalry
with offshore getting crushed, this may be the final tipping point in the LC/LAF rivalry
Posted on 11/22/18 at 9:18 am to LSUgusto
quote:
This is an interesting post. You sound like a numbers guy.
Ha I’m actually an independent in the business and I see how these public companies spend money the last few years. We will see if I am correct in the next 3-5 years. Always easy to spend other people’s money. Look at the disaster that became of the e & p mlps the last few years.
Posted on 11/22/18 at 9:20 am to SlowFlowPro
quote:I haven't heard that, but I did hear Sasol say that the canceled project wasn't the last project they had planned for Lake Charles. So, it could be something else coming that wasn't the canceled project.
i heard (but not from what i'd consider a reliable source) that the super duper expansion/project that was cancelled a few years ago may be back online.
quote:Laffy has been trying like hell to diversify their economy, and they're making a little progress with the tech things they've got going. But, yeah, with Chennault getting busy, the gaming industry doing better than ever, and the petro-chem developments going on, Lake Charles looks to be closing the gap with them at an exponential rate.
this may be the final tipping point in the LC/LAF rivalry
Posted on 11/22/18 at 9:24 am to dewster
quote:
How will this impact Tuscaloosa Marine Shale?
Lower prices means it will be more uneconomic.
Posted on 11/22/18 at 9:33 am to TigerDog83
quote:
I tend to think shale oil has been marginally profitable at best although the end result has been positive for the country. I’ve been on working interest sides and seen how capital destructive many of these operators are.
This is mostly true for the early entrants due to the capital spent on building the infrastructure - pipelines, central facilities, etc. However, you can make money in the second wave when you’re just looking at single well economics. The eagle ford is a prime example - lots of capital destruction from 2009-2014, but new entrants are drilling 100% ROR wells with new completions and just plugging into existing infrastructure.
I think the Delaware basin is going to see a lot of losers as it goes through its first iteration. The flippers will make money, the first buyers will lose then the second buyer will cash in.
quote:
Rising interest rates will cut off capital to the shale oil drillers
Private equity filled this gap.
quote:
we will see consolidation into the majors (who are prospect limited now)
I hope you’re right but we haven’t seen this yet - the prior downturn was a huge buying opportunity and the majors sat on their hands.
Posted on 11/22/18 at 9:39 am to cwill
quote:
I hope you’re right but we haven’t seen this yet - the prior downturn was a huge buying opportunity and the majors sat on their hands.
I think you’re already seeing some early consolidation with the recent transactions from encana/newfield, chk/wildhorse, Pva/denbury, etc. rising interest rates have definitely made a difference.
Posted on 11/22/18 at 9:48 am to TigerDog83
quote:
I think you’re already seeing some early consolidation with the recent transactions from encana/newfield, chk/wildhorse, Pva/denbury, etc. rising interest rates have definitely made a difference.
Those aren’t majors...but, yes, some recent consolidation. I doubt the pva/dnr deal closes with the price drop - deal makes no sense anyway.
The deal you should’ve pointed to was BP/bhp. BP has long stated it’s goal to reenter US domestic and they were one of a few that could make that size acq and deal with all the take or pay issues.
Posted on 11/22/18 at 9:52 am to cwill
quote:
Those aren’t majors...but, yes, some recent consolidation. I doubt the pva/dnr deal closes with the price drop - deal makes no sense anyway.
Of course they’re not but just general consolidation among the shale players. Denbury seems like they’re grasping at straws to lower their debt and find lower cost oil than their now mature tertiary fields.
Bp is quietly generating good returns on the east Texas haynesville and it will be interesting to see how they handle the bhp assets. Bhp was definitely not a nimble operator onshore.
Posted on 11/22/18 at 9:58 am to TigerDog83
quote:
just general consolidation among the shale players.
Some fringy, marginal stuff.
quote:
Denbury seems like they’re grasping at straws to lower their debt and find lower cost oil than their now mature tertiary fields.
The problem is the pva EF is marginal. It won’t work in a low price environment either - definitely a straw grasp!
quote:
Bhp was definitely not a nimble operator onshore.
You see big offshore operators constantly flailing and losing money in the onshore unconventional. My theory is that these offshore engineers don’t understand onshore service costs and every price quite looks like an incredible deal!
Posted on 11/22/18 at 10:59 am to Revelator
quote:i had an interesting conversation about this with a friend. i suggested energy independence and he was saying he didn't like this idea because he wants the us to make the m.e. deplete their supply and THEN we can start using our own. then, the us will be in a position to demand any price for oil.
OPEC needs to learn to live with it
one problem i have with that idea is that we know oil money funds terrorism, at least to some degree. if we cut what we need from them, it hurts terrorism in the here and now.
also, i don't think we need to be totally energy independent. just develop our supply enough to make them pliable when needed. iow, use it as a bargaining chip without going full steam on our own supply. the us economy bears the full weight of developing it's own supply. just develop enough to make them drop their prices and that way, we have the best of both worlds.
just my take
Posted on 11/22/18 at 1:47 pm to LSUgusto
quote:
and they're making a little progress with the tech things they've got going
we're beating them in tech, too
has Laffy Taffy had an anything as successful as Waitr?
This post was edited on 11/22/18 at 1:49 pm
Posted on 11/22/18 at 2:11 pm to cokebottleag
quote:
Lol, UT proper gets the same as us, man. UT medical gets the last 3rd.
You don't have any idea what you are talking about. The UT System gets 2/3, A&M System gets 1/3. And not all schools in both systems are eligible, while you have to fund the ag extension service.
Read up on Available University Funds (in general, the interest on the principal), and the set percentages. UT Austin is guaranteed 45 percent of those UT System funds. Plus "excellence funding."
So... Half of that 2/3 goes directly to UT Austin. That equals the entire amount given to the entire A&M System, of which College Station only gets a portion. Do the math.
See page 3
Posted on 11/22/18 at 10:12 pm to Revelator
Hope they got really good security in and around the area. Sounds like the next likely spot for a terrorist attack.
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