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03-16-2020, 04:14 PM
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#31
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Valued Poster
Join Date: Jan 27, 2018
Location: Back in Texas!
Posts: 7,196
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Quote:
Originally Posted by lustylad
Just cap the walls, lay off the drillers, and ask your lenders to reschedule your debts. When prices recover, you do it all in reverse - rehire, uncap the wells and resume debt servicing.
The US fracking industry is now effectively the world's swing producer. They operate a just-in-time oil and gas inventory system.
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Exactly
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03-16-2020, 04:14 PM
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#32
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Valued Poster
Join Date: Jan 9, 2014
Location: Near mid cities but never whaco
Posts: 4,826
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Looks like the oil industry and the economy took off under the Obama adm. I do agree though that the twithead buddies (Saudia n Putin) kicked sand on his dick when he was being a really ignorant dipshit in chief. Putin is loving his puppet in chief very very much. Can Putin make America more stupid?
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03-16-2020, 04:26 PM
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#33
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Valued Poster
Join Date: Jul 24, 2014
Location: Pittsburgh
Posts: 3,267
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Quote:
Originally Posted by Tsmokies
Can Putin make America more stupid?
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TDS regarding Trump and Putin have made enough Americans stupid, but the likes of you continue to amaze by piling stupid upon stupid.
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03-16-2020, 04:32 PM
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#34
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Valued Poster
Join Date: Jan 18, 2010
Location: texas (close enough for now)
Posts: 9,249
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Quote:
Originally Posted by WTF
According to ff,bambino, lusty and gnad....this is great news!
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well when I said no independent, there are some
but currently, you do what you have to do to keep the lease
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03-16-2020, 04:34 PM
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#35
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Valued Poster
Join Date: Jan 9, 2014
Location: Near mid cities but never whaco
Posts: 4,826
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^^^Im not a twit head hugger^^^ that would really be stupid upon stupid
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03-16-2020, 04:43 PM
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#36
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Premium Access
Join Date: Jan 8, 2010
Location: Steeler Nation
Posts: 18,671
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Quote:
Originally Posted by Tsmokies
^^^Im not a twit head hugger^^^ that would really be stupid upon stupid
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Nah you're just a twathead. That's beyond stupid.
Odumbo did nothing to encourage fracking, then tried to claim credit after leaving office. Putin grabbed Crimea on his watch.
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03-16-2020, 04:59 PM
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#37
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Valued Poster
Join Date: Jan 18, 2010
Location: texas (close enough for now)
Posts: 9,249
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Quote:
Originally Posted by lustylad
Nah you're just a twathead. That's beyond stupid.
Odumbo did nothing to encourage fracking, then tried to claim credit after leaving office. Putin grabbed Crimea on his watch.
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exactly right
he did the opposite
banning exploration on fed lands
denigrating tax laws related to the oil and gas industry, time and time again
his minions and sycophants, from his energy secretary to his news media propagandists to his Hollywood movie makers falsely attacking the oil industry at every turn, including, in a novice and ill-informed manner, going after fracking as if it was some new and terrible thing
and never forget the attempt at "re-education" and intimidation, treating the oil industry as another cigarette industry, threatening exxon execs or any other oil exec with crimes for defending themselves if they dared present alternate viewpoints other than the leftist viewpoint
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03-16-2020, 07:15 PM
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#38
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Lifetime Premium Access
Join Date: Jan 1, 2010
Location: houston
Posts: 48,267
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Is Trump now going to bail them out!
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03-16-2020, 08:08 PM
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#39
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Valued Poster
Join Date: Jul 7, 2010
Location: Dive Bar
Posts: 42,820
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Quote:
Originally Posted by WTF
Is Trump now going to bail them out!
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Why? We don’t need their oil, or anyone else’s. Trump fucked Russia and SA real good.
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03-16-2020, 08:10 PM
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#40
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Valued Poster
Join Date: Jan 9, 2014
Location: Near mid cities but never whaco
Posts: 4,826
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Lol smart trump hugger. He was referring to big oil lol
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03-16-2020, 08:14 PM
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#41
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Valued Poster
Join Date: Jul 7, 2010
Location: Dive Bar
Posts: 42,820
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Quote:
Originally Posted by Tsmokies
Lol smart trump hugger. He was referring to big oil lol
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Why does Trump have to bail out the US energy industry? We’re a net exporter you idiot.
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03-17-2020, 09:09 AM
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#42
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Valued Poster
Join Date: Jan 18, 2010
Location: texas (close enough for now)
Posts: 9,249
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exxon's current dividend rate, at its current price, is almost 10%
you think it will remain?
"Just hours after S&P Global Ratings cut Exxon Mobil’s debt ratings on Monday, the company said it would “significantly reduce spending” in response to oil’s price plunge. Exxon didn’t release specifics about the cuts, which were announced in a news release late on Monday. “Based on this unprecedented environment, we are evaluating all appropriate steps to significantly reduce capital and operating expenses in the near term,” said Darren Woods, chairman and chief executive officer, in the statement."
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03-17-2020, 09:57 PM
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#43
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Valued Poster
Join Date: Jan 9, 2010
Location: Nuclear Wasteland BBS, New Orleans, LA, USA
Posts: 31,921
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Putin is targeting the Fracking producers. He's said to have not like the fracking process, claims that it creates environmental damage.
looks like the russians have decided to fight fire with fire.
Why Russia just torpedoed global oil prices
https://www.pbs.org/newshour/economy...bal-oil-prices
Many American shale producers need an oil price above $40 a barrel to remain solvent.
Russia needs an oil price of roughly $40 a barrel to balance its budget, while Saudi Arabia needs over $80 a barrel to balance its books.
the article states this time around the frackers won't have a cushion to work with from like the last attempt.
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03-18-2020, 11:01 AM
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#44
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Valued Poster
Join Date: Jan 18, 2010
Location: texas (close enough for now)
Posts: 9,249
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crude oil market price $22.94 (and dropping)
70% WI share $16.06
less severance tax of 4.6%
net to WI $15.32
lifting costs per BBL maybe $26 for shale
and then there's marketing and transportation and field price and density and sulfur content adjustments and overhead
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