2021 Oilfield thread...

[oktx]

I saw a drilling rig for the first time in two years running here in Wise County.

[SHSU18]

Anyone on here involved in the decision making of Horizontal Multistage Pumps? HPS pumps?

[dosrobles]

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.

[TexasLongball]

Trust me, the libs want $100+ oil and they'll get it. That puts another strain on most of America's household budgets a little more and means that renewables now look more attractive.

[bphillips]

Originally Posted by TexasLongball

Trust me, the libs want $100+ oil and they'll get it. That puts another strain on most of America's household budgets a little more and means that renewables now look more attractive.

This is why I think it will get forced up. Electric vehicles and renewables look amazing when gas is over $4

[breederbuck33]

From a supplier's perspective (Pipe, Valves, Fittings) it is as slow as I have experienced in my career. I've only been doing this for 5ish years, but regardless even when I first started it wasn't this bad. I'd be glad to work a quote for anybody right now. I'm digging through old sales reports, and reaching out to people I haven't talked to in 2 years. I've never had to reach out to anyone to have plenty quotes to work on.

[John Paul]

Keystone Pipeline = Gone
New Permits to Frack or Drill on Federal Lands = Gone. (that's over 90% of all northern US lands being drilled)
US Stockpiles of Crude = Gone in short order
US extends the old practice of importing the majority of oil needs
OPEC adjust pricing continuously to get said price over 75-80$ barrel,
US Shale drillers had learned to make $50-$55 oil profitable in the bad times, private land drilling and fracking has a major resurgence. 14-18 months on the far side. JMO
I am an optimist.

[westtexducks]

Any of you gents been hearing anything in the backgrounds after last couple days shenanigans in the white house?

[John Paul]

Well here is a little info. IADC New Administration Report.

We all new these things were going to happen, but its for the Realz now....

[bphillips]

Originally Posted by John Paul

Keystone Pipeline = Gone
New Permits to Frack or Drill on Federal Lands = Gone. (that's over 90% of all northern US lands being drilled)
US Stockpiles of Crude = Gone in short order
US extends the old practice of importing the majority of oil needs
OPEC adjust pricing continuously to get said price over 75-80$ barrel,
US Shale drillers had learned to make $50-$55 oil profitable in the bad times, private land drilling and fracking has a major resurgence. 14-18 months on the far side. JMO
I am an optimist.

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

[BarW]

Originally Posted by bphillips

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.

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[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]

Originally Posted by 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.

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]

Originally Posted by TheHammer

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]

Originally Posted by 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.

Sounds like a few aren’t worried about it

https://finance.yahoo.com/news/big-u...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]

Originally Posted by bphillips

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]

Originally Posted by 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.

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]

Originally Posted by bphillips

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]

Originally Posted by dosrobles

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.”

[LivinADream]

Originally Posted by CaprockRoamer

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.”

Short answer. You can't make everyone happy. At the prices stated, Texas and it's people as a whole are doing better.

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[CaprockRoamer]

Originally Posted by LivinADream

Short answer. You can't make everyone happy. At the prices stated, Texas and it's people as a whole are doing better.

Sent from my motorola one 5G UW using Tapatalk

Ah, so those that paved the way for many of us Texans are just F.U.C.T. then? As long as those that spend frivolously in order to keep up with the Jones’s are happy, who cares?
Again, I’m genuinely curious. I’m also guilty of keeping up with the Jones‘s. I simply don’t understand how it’s better for everyone when there are so many that struggle when it does reach those prices. That being said, I struggle with understanding how a $15 minimum wage is going to benefit us as well. I know that’s not the same thing, and it’s getting off topic, but I don’t see it being great for everybody either.

[BarW]

Originally Posted by CaprockRoamer

Ah, so those that paved the way for many of us Texans are just F.U.C.T. then? As long as those that spend frivolously in order to keep up with the Jones’s are happy, who cares?

Again, I’m genuinely curious. I’m also guilty of keeping up with the Jones‘s. I simply don’t understand how it’s better for everyone when there are so many that struggle when it does reach those prices. That being said, I struggle with understanding how a $15 minimum wage is going to benefit us as well. I know that’s not the same thing, and it’s getting off topic, but I don’t see it being great for everybody either.

Its callous, but the good of the many out weighs the good of the one or the few.

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[LlanoHunter10]

Originally Posted by 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.

Its already started with my company. I work offshore oil/gas and we are currently at the next oil HOTSPOT. Guyana and Suriname. Trinidad is doing great with all these rigs and supply vessels coming in to service the offshore oil and gas industry in those nations. Only thing is, our contract time on the vessel has more than doubled. Used to to 28 days on...now they say 60 days MINUMUM, with no guarantee of when we can get off. This amount of uncertainty is what is making it easier to find another job. Marine Super said we can crew change SOMETIME in March...Maybe.

[Sharecropper]

Louisiana sunrise . .

[merlin]

Drill baby, drill!

[Sharecropper]

What is this bs about bidens exe order banning oil leases? . . Even on private property . .

[Txfshrmn]

By chance are you around the Kermit, Texas area?

Originally Posted by John Paul

Yeah, gonna get real very soon. Been hearing of most all service crews and exploration side started moving everything out of the North due to Biden restrictions on public lands. Being Texas is mostly private, its fixing to get busy. Feel bad for everybody up north, Eagleford is on track to loose another 10% first half of this year just due to wells maturing. Demand will come back and we will not be in the position to plug the hole due to lack of inventory to keep up with demand, I see $100+ easily in the future.

[BlackoutRam2500]

Originally Posted by Sharecropper

What is this bs about bidens exe order banning oil leases? . . Even on private property . .

He doesn't have that power... no president does.

All this is fear mongering needs to stop. Population will be over 9 billion in the next 25 years world-wide. That means 40% energy increase needed to meet the demands of every human. That cannot/will not happen by banning any form of energy. Ask Elon Musk who just pushed his chips in on natural gas.



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[Sharecropper]

Originally Posted by BlackoutRam2500

He doesn't have that power... no president does.

All this is fear mongering needs to stop. Population will be over 9 billion in the next 25 years world-wide. That means 40% energy increase needed to meet the demands of every human. That cannot/will not happen by banning any form of energy. Ask Elon Musk who just pushed his chips in on natural gas.



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Exactly the response I hoped for . . Thanks

[kyle1974]

Originally Posted by CaprockRoamer

Ah, so those that paved the way for many of us Texans are just F.U.C.T. then? As long as those that spend frivolously in order to keep up with the Jones’s are happy, who cares?
Again, I’m genuinely curious. I’m also guilty of keeping up with the Jones‘s. I simply don’t understand how it’s better for everyone when there are so many that struggle when it does reach those prices. That being said, I struggle with understanding how a $15 minimum wage is going to benefit us as well. I know that’s not the same thing, and it’s getting off topic, but I don’t see it being great for everybody either.

people supposedly struggle to pay $2.50 a gallon for gas, but often have the latest iphone in their pocket.

it's all about priorities.