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Thread: $30 barrel oil?

  1. #1481
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    711 Rigs still running in the US right now. 28 going in Canada.

    Whiting Petroleum has filed for bankruptcy protection, 30mmbbl of production, looks like the dominoes are starting to fall.

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    Quote Originally Posted by ExtraSlow View Post
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    EIA update today 13,000,000 USA production.
    Not surprising it hasn't dropped more. Need rig count to drop more fasterer.
    Attachment 90310
    and...all of that went into storage.
    Quote Originally Posted by 89coupe View Post
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    Beyond, bunch of creme puffs on this board.
    Everything I say is satire.

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    Yep. Mericans still pounding out the production.
    "The most merciful thing in the world, I think, is the inability of the human mind to correlate all its contents... some day the piecing together of dissociated knowledge will open up such terrifying vistas of reality, and of our frightful position therein, that we shall either go mad from the revelation or flee from the light into the peace and safety of a new Dark Age."

    -H.P. Lovecraft

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    Quote Originally Posted by Darkane View Post
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    Yep. Mericans still pounding out the production.
    I few Americans I still talk to daily feel that "recovery" is coming next week. I cannot understand that mentality.
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    If there is one thing I know for sure. ES has no Aspen goals

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    Whiting petroleum just went bankrupt. Many more to come in the next two weeks.
    https://business.financialpost.com/c...e-collapse/amp
    Quote Originally Posted by killramos View Post
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    If there is one thing I know for sure. ES has no Aspen goals

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    Quote Originally Posted by ExtraSlow View Post
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    I few Americans I still talk to daily feel that "recovery" is coming next week. I cannot understand that mentality.
    They expect the world to allow them to produce.

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    Anyone ever volunteer for a pay cut to keep from getting laid off? Am I fucked????? I Feel like Im fucked.

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    Quote Originally Posted by lasimmon View Post
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    They expect the world to allow them to produce.
    They definetly feel that if anyone should shut in it is "someone else". They belive in infinite growth of 'mer-cah.
    Quote Originally Posted by killramos View Post
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    If there is one thing I know for sure. ES has no Aspen goals

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    Quote Originally Posted by Toilet_X View Post
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    Anyone ever volunteer for a pay cut to keep from getting laid off? Am I fucked????? I Feel like Im fucked.
    I volunteered for other stuff.
    Quote Originally Posted by 89coupe View Post
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    Beyond, bunch of creme puffs on this board.
    Everything I say is satire.

  10. #1490
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    Some estimates that long term the USA has lost the ability to ever produce at 13 million barrels a day. I don't know about that, but even if it's true, is that a big problem?
    Really, 2 million or so fewer barrels mean the remaining ones are much more valuable.

    Edit: added article : https://ca.finance.yahoo.com/amphtml...203000620.html
    Quote Originally Posted by killramos View Post
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    If there is one thing I know for sure. ES has no Aspen goals

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    Believe me, i'll blow the entire management team.

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    Quote Originally Posted by Toilet_X View Post
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    Believe me, i'll blow the entire management team.
    1494713972_23232.gif
    Quote Originally Posted by killramos View Post
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    If there is one thing I know for sure. ES has no Aspen goals

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    Quote Originally Posted by The_Rural_Juror View Post
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    I volunteered for other stuff.
    Butt stuff?

  14. #1494
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    Got word from a friend last week that Chevron was racking at least 3 rigs in the Permian but likely many more. They were supposed to ramp up in June and drill forever.
    sig deleted by moderator, click here for info

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    Quote Originally Posted by thinmyster View Post
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    Got word from a friend last week that Chevron was racking at least 3 rigs in the Permian but likely many more. They were supposed to ramp up in June and drill forever.
    The smartest companies are the ones that cut the most rig fastest.
    Quote Originally Posted by killramos View Post
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    If there is one thing I know for sure. ES has no Aspen goals

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    Far more going on than just meets the eye (isnt that always the case with large scale events?)

    https://www.stalkerzone.org/russias-...e-petrodollar/

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    Quote Originally Posted by revelations View Post
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    Far more going on than just meets the eye (isnt that always the case with large scale events?)

    https://www.stalkerzone.org/russias-...e-petrodollar/
    Also from Stalkerzone.

    The Vatican says the coronavirus was created in a “laboratory in a powerful and wealthy country
    "Stalker zone is anti capitalist, anti war, anti liberal"
    Last edited by The_Rural_Juror; 04-01-2020 at 08:15 PM.
    Quote Originally Posted by 89coupe View Post
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    Beyond, bunch of creme puffs on this board.
    Everything I say is satire.

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    Quote Originally Posted by ExtraSlow View Post
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    Some estimates that long term the USA has lost the ability to ever produce at 13 million barrels a day. I don't know about that, but even if it's true, is that a big problem?
    Really, 2 million or so fewer barrels mean the remaining ones are much more valuable.

    Edit: added article : https://ca.finance.yahoo.com/amphtml...203000620.html
    The thing is those wells as so quick to hammer out. They can shed a lot, have tons of bankruptcies and slow down then as soon as oil spikes up companies will pop up and start flowing again.
    Nolan

  19. #1499
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    Quote Originally Posted by ExtraSlow View Post
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    Whiting petroleum just went bankrupt. Many more to come in the next two weeks.
    https://business.financialpost.com/c...e-collapse/amp
    Some of them made off well:


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    Quote Originally Posted by roopi View Post
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    Some of them made off well:

    That is so fucking shady.
    Someone is going to Jail for that.

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