Saudi Arabia fucking DJT

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. Originally Posted by lustylad

Exactly

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?

Can Putin make America more stupid? Originally Posted by Tsmokies

TDS regarding Trump and Putin have made enough Americans stupid, but the likes of you continue to amaze by piling stupid upon stupid.

According to ff,bambino, lusty and gnad....this is great news! Originally Posted by WTF

well when I said no independent, there are some

but currently, you do what you have to do to keep the lease

^^^Im not a twit head hugger^^^ that would really be stupid upon stupid

^^^Im not a twit head hugger^^^ that would really be stupid upon stupid Originally Posted by Tsmokies

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.

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. Originally Posted by lustylad

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

Is Trump now going to bail them out!

Is Trump now going to bail them out! Originally Posted by WTF

Why? We don’t need their oil, or anyone else’s. Trump fucked Russia and SA real good.

Lol smart trump hugger. He was referring to big oil lol

Lol smart trump hugger. He was referring to big oil lol Originally Posted by Tsmokies

Why does Trump have to bail out the US energy industry? We’re a net exporter you idiot.

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."

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.

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