2021 Oilfield thread...

[BarW]

There are still current permits though. I don’t know how long they will take to drill up but “rumor” I have heard us EOG alone still has over 2500 Permian permits in place with a majority in New Mexico where this would affect new permits. In my head that is still a couple years of drilling on federal land there

Drilling was wide open during obama in New Mexico, drilled on both state and BLM land.
May be some kind of loop hole back then to keep that area open not sure.

Sent from my SM-G960U using Tapatalk

[John Paul]

In the report posted above in section 1 suspends all leases, amendments to leases, new leases and all permits on federal lands. And much more, hopefully there is a loophole for awhile for the sake of jobs.

[tmstuk]

I'm glad 2020 is behind us. Let's hope 2021 is better.

[Muddy Bud]

In the report posted above in section 1 suspends all leases, amendments to leases, new leases and all permits on federal lands. And much more, hopefully there is a loophole for awhile for the sake of jobs.

Yep, this is way different than when Osama was in office. We were not so energy independent then. The only one I see benefitting from this is OPEC.

[Wall_Hanger]

Halliburton, Exxon Mobil, and find a sleeper small company with tons of capital or leases poised and ready to go. All companies should currently be raising capital.

It is an absolute capital desert right now for O&G. Private capital is extremely constrained due to LPs pushing ESG investments and debt markets are focusing on credit risk like never before. Even WC/revolvers are being cut for otherwise healthy companies. Trade finance banks are pulling out in large swaths. Soc Gen left all of Singapore trade finance and has dropped several large private trading outfits in other geographic areas. Project finance is also tepid right now and hyper-focused on credit. I am afraid the winds of ESG have really taken over capital markets for the short term and traditional O&G investments will have to be made more slowly by disciplined operators purely off cash flow and minimal leverage. I don't have any problem with good ESG investments but right now it looks more like an investment committee mandate which is not healthy. All of this usually means consolidation which I am starting to see so hopefully that will boost production and get things moving in the right direction.

[bphillips]

In the report posted above in section 1 suspends all leases, amendments to leases, new leases and all permits on federal lands. And much more, hopefully there is a loophole for awhile for the sake of jobs.

Sounds like a few aren’t worried about it

https://finance.yahoo.com/news/big-u-oil-drillers-federal-134847721.html

[Hardware]

Got to make oil high to justify their Green New Deal!!!

[Fishcat91]

I believe 2022 will be the oil boom we are looking for. Grounds should start rumbling around September 2021 and take off from there..... I hope.

[bakin7005]

Sounds like a few aren’t worried about it

https://finance.yahoo.com/news/big-u...134847721.html

Good article. TFS. Nothing is really ever cut and dry.

[bowhuntertex]

I have a bad feeling you boys working stateside will have to look overseas to stay in the oilfield. This administration has more to gain by dealing overseas than at home. Hope I am wrong, but the writing is on the wall.

[bphillips]

I have a bad feeling you boys working stateside will have to look overseas to stay in the oilfield. This administration has more to gain by dealing overseas than at home. Hope I am wrong, but the writing is on the wall.

Good news for Texas is very small % of it is federal. We did a lot of work last few years with the Eagleford running slow

[txoutdoorsman24]

Good news for Texas is very small % of it is federal. We did a lot of work last few years with the Eagleford running slow

Let’s hope the Eagleford can get back to work. Plenty out there now but hoping for a major rush soon.

[rut-ro]

I too see them pushing oil over 100 dollars to justify the green deal. People gonna start complaining about 4 dollar gas by next summer.

[bigchiefj]

As a consumer I want low prices.

What hurts us all is the government screwing up things. I wish we could just allow the market to do it's thing.

[CaprockRoamer]

It always kills me when I hear people in this state talking about how excited they are at gasoline under $2.00/gallon. Gas in the $2.50-$3.00/gallon range is fair for everyone and good for the state of Texas.

If people want lower gas prices we should increase our capacity to refine, create jobs, and let other people pay US to process their oil.

We have had mineral property in Upton country since the 1920’s (obviously I wasn’t the original owner).

No better people in the world the folks in the patch.

Please help me understand your logic here. For some of the people I know (disabled veterans that I served in the military with and the elderly whom depend primarily on social security,) that are not able to increase their monthly incomes due to physical inability. How is it fair for them? I’ve personally seen several forced to make the decision of, filling the tank so they can travel to a loved ones event/live a life that does not place an extra burden on those loved ones vs pay the bills on time or keep the pantry full or buy the ridiculously expensive prescription they need.

Please understand, I’m not necessarily advocating for keeping prices low on my behalf, I’m totally capable and willing to find a way to supplement my monthly income, but again, for those that are unable to increase their income. When they have nobody but themselves and a fixed income, and inflation of everything surpasses that fixed income, what is their recourse? How is it fair for them? What are they supposed to do?
Sincerely curious, not trying to “pick a fight.”