Oilfield peeps

How long does this little bit of activity keep up? There's just no support to get it up to $65 and if OPEC starts cheating it will kill it all real quick.

The sweet spot aint what it used to be. Unfortunately, 50 is the new 100.

Who cares?
Enjoy the ride.
Permian drillers are bringing it in cheap.
They will be drilling at $40 and make money.
Getting used to sleeping in my truck for lack of motels out there these days.

I don't think they are really making money at this price.
I think it's just close enough that the hedge funds in New York are floating capital again to appear busy for investors.

Wrong.

I've seen where some have been pulling it out at less than $10 a barrel. Cheap as the Saudis.

See this:


http://oilprice.com/Energy/Crude-Oil...-A-Barrel.html

There's a play out there that you can produce vertically, but I still just don't see enough price support that screams long term growth.

Plus drillers are not buying equipment, a few that I deal with are running what they have because their rig contracts are all short term.

We need it back, but until the Trumpster gets the world economy on that 4% growth, I just don't see commodities coming back.

Export market is getting stronger.
More terminals being built in Houston, CC and Brownsville.
Drillers are getting more efficient and won't need new equipment for a while.
You need to get out and take a look in the field.

.....

We need it back, but until the Trumpster gets the world economy on that 4% growth, I just don't see commodities coming back. Originally Posted by Trident1

this

Most are wanting larger rigs to be able to drill longer laterals, but they've got those plans on hold until they see more long term drilling programs proposed. A couple of our smaller customers have all of their rigs up, but they are on moderate contracts.
It's definitely better, I just don't trust how long it will last. I still think it's going to be like the 90's all over again. Just enough to stay a little active, but not exactly steak and potatoes.

Unless Trump attack Iran and make oil prices skyrocket, oil will remain cheap now. Yea it will be like the 90s, time for big SUV for no reason but enjoy the ride

All OPEC is trying to do is create a floor not a ceiling.

Getting it up to $65 is going to be difficult because Trump wants to flood the market with oil. He wants to sell half of the national reserve and start drilling in all the national parks. That is not going to help the price any, just drive it down

If you look at the history of oil, going all the way back to the use of whale oil. You will see it is the commodity with the highest highs and the lowest lows.

Highs usually last less than seven years, lows usually last a little less but they seem like forever.

All I can say is SAVE AND INVEST while you have a job, don't get into a lot of debt.

It helps to have a fallback skill, something you can do for rent money when the shit goes down.

Who cares?
Enjoy the ride.
Permian drillers are bringing it in cheap.
They will be drilling at $40 and make money.
Getting used to sleeping in my truck for lack of motels out there these days. Originally Posted by Slitlikr

Wrong.

I've seen where some have been pulling it out at less than $10 a barrel. Cheap as the Saudis.

See this:


http://oilprice.com/Energy/Crude-Oil...-A-Barrel.html Originally Posted by Slitlikr

Export market is getting stronger.
More terminals being built in Houston, CC and Brownsville.
Drillers are getting more efficient and won't need new equipment for a while.
You need to get out and take a look in the field. Originally Posted by Slitlikr

Spot fuckin on Slit. I work the offshore end of the business, and the efficiencies gained with onshore tight oil drilling in the Permian and elsewhere is the biggest competitor to offshore deep water plays in the Miocene and Lower Tertiary. Break evens are dropping by the month. OPEC tried to kill it; they are re-learning the old adage "What doesn't kill you only makes you stronger."

Folks need to understand - it's a different market needing different services. All that condensate and gas has to go somewhere, and it is - new crackers, new export terminals, new downstream businesses. Somebody has to design, build, deliver, operate, manage, market, and maintain that shit. Look for new things.

People that think it's going to shoot back to 100 are dumber than I am.

Get used to 40-50 for awhile.

If deepwater can get cost competitive below 40, lookout permian.