$19.97 barrel oil?

[vengie]

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So what's the best industry to pivot into if one wants to stay and live in AB?

Back to school to learn either:
- Finance
- Environmental science (water management)
- Chemistry

[ExtraSlow]

Data science is a nice addition to virtually all technical disciplines, and can help you inside or outside the petroleum sector.

[revelations]

If I was a contractor - I would also look at something to do with OG shutdown processes (well decommissioning, plant closure, etc.).

The AB game is done. The KSA and the Russians are in it for the long game.

[The_Rural_Juror]

[nzwasp]

Is canadian heavy crude the same as WCS?

[killramos]

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Is canadian heavy crude the same as WCS?

In this case, yes. Prices in USD there.

[SKR]

Can we just flare oil like we do with gas until all the excess is gone

[The Cosworth]

$3.18 for WCS. That's insane.

[ExtraSlow]

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$3.18 for WCS. That's insane.

It's going to zero or even negative shortly.

[tirebob]

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$3.18 for WCS. That's insane.

Makes a guy think about buying a few thousand barrels of oil and sitting on them for a few years and flip down the road and CHA-CHING!!! lol

[killramos]

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Makes a guy think about buying a few thousand barrels of oil and sitting on them for a few years and flip down the road and CHA-CHING!!! lol

You wouldn’t if you saw the cost of procuring and installing a 3000bbl oil tank, let alone the hauling costs to bring it in and sell it back to terminal haha.

[tirebob]

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You wouldn’t if you saw the cost of procuring and installing a 3000bbl oil tank, let alone the hauling costs to bring it in and sell it back to terminal haha.

Oh for sure... I was just cracking wise!

[killramos]

Haha I am continually shocked at how much essentially doing anything oilfield costs. Despite doing this my whole career.

[The_Rural_Juror]

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You wouldn’t if you saw the cost of procuring and installing a 3000bbl oil tank, let alone the hauling costs to bring it in and sell it back to terminal haha.

How much does that cost?

[killramos]

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How much does that cost?

Super high level? 1-2 Million for the oil tank depending on product volatility (I don’t deal with a lot of sales grade product so this could be more or less ) assuming you have somewhere stable to put it. I just spent that much expanding a battery in my field.

Then around 3-5 bucks a barrel each way to truck in and back out to terminal depending on how far you are away. This is assuming clean market grade product. More if it requires any processing or treatment.

So call it a million and a half capital, plus another 15 grand each way to move the product in and out. So you need somewhere around a 510 dollar swing in oil prices to make that go around for one kick at the can. A lot of that capital is sunk to install the tank too so don’t expect salvage value to save you. And none of this is happening overnight.

Tl: dr Oil Storage is a shitty business if you don’t already have the capacity on hand for other reasons.

[The Cosworth]

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Makes a guy think about buying a few thousand barrels of oil and sitting on them for a few years and flip down the road and CHA-CHING!!! lol

I really want to get a fuel tank from UFA out at the farm and have them fill it up.

[blitz]

Why buy a 3000 bbl tank when 8 old surplus 400 bbl tanks will do? Rent a bobcat from Rogers for a few days to push up berms and you’re done in an afternoon.

[killramos]

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Why buy a 3000 bbl tank when 8 old surplus 400 bbl tanks will do? Rent a bobcat from Rogers for a few days to push up berms and you’re done in an afternoon.

Million ways to skin a cat, still not sure there it’s a good business to play oil storage lol.

[ExtraSlow]

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Million ways to skin a cat, still not sure there it’s a good business to play oil storage lol.

You are wrong, stupid and a poor businessman, like everyone who works in oil and gas.

[killramos]

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You are wrong, stupid and a poor businessman, like everyone who works in oil and gas.

That’s us in a nutshell