$19.97 barrel oil?

**nzwasp** · 03-18-2020, 07:11 PM

How low does their share price need to go before they go bankrupt?

**bigboom** · 03-18-2020, 07:17 PM

Share price has nothing to do with solvency other than when it's worthless...

**nzwasp** · 03-18-2020, 07:20 PM

Originally Posted by bigboom

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Share price has nothing to do with solvency other than when it's worthless...

Perhaps their debt payments are not so big,

**ZenOps** · 03-18-2020, 08:19 PM

Originally Posted by Xtrema

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Brent at $26.4. WCS at $7.6. So are we at a point where it's cheaper to leave it in ground and wait?

But if we do, doesn't that mean Saudi and Russia wins?

WCS blew right past $8.44

Two barrels for a slice of avocado toast is definitely within range of "why bother to even extract it".

**ExtraSlow** · 03-18-2020, 08:42 PM

As DRW said, "shut your wells in today! Send your drilling crews home today!"

**SKR** · 03-18-2020, 09:24 PM

Instead of waterflooding our old reservoirs we should oilflood with all this cheap oil. Then we can fool the dumb investors with all this new phenomenal production, and we can go back drilling.

I'm not very smart but I don't think you have to be to grasp the brilliance of this idea.

Either that or just burn it all. I'd like to see what the Saudis think of that.

**killramos** · 03-18-2020, 09:32 PM

Originally Posted by SKR

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Instead of waterflooding our old reservoirs we should oilflood with all this cheap oil. Then we can fool the dumb investors with all this new phenomenal production, and we can go back drilling.

I'm not very smart but I don't think you have to be to grasp the brilliance of this idea.

Either that or just burn it all. I'd like to see what the Saudis think of that.

Tell that to all the guys who invested in Gas storage hahaha

**SKR** · 03-18-2020, 09:51 PM

Originally Posted by killramos

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Tell that to all the guys who invested in Gas storage hahaha

Somebody is actually as dumb as I am? Poor fucks, haha.

**mr2mike** · 03-19-2020, 08:54 AM

Originally Posted by SKR

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Instead of waterflooding our old reservoirs we should oilflood with all this cheap oil. Then we can fool the dumb investors with all this new phenomenal production, and we can go back drilling.

I'm not very smart but I don't think you have to be to grasp the brilliance of this idea.

Either that or just burn it all. I'd like to see what the Saudis think of that.

Epitome of a pump and dump.
OIL-X can be the company name.

**SKR** · 03-19-2020, 09:48 AM

All that matters is I get to keep my salary coming in so I can waste it on dumb shit. I don't care how that happens.

**ExtraSlow** · 03-19-2020, 10:24 AM

Originally Posted by SKR

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All that matters is I get to keep my salary coming in so I can waste it on dumb shit. I don't care how that happens.

+1

**sabad66** · 03-19-2020, 10:41 AM

CNRL cutting salaries of execs and Board 15-20%. Good move for optics at least. Hopefully they don't cut workers' salaries

**mr2mike** · 03-19-2020, 10:45 AM

From a very reliable source: Cuts are across the board for every employee.

**ExtraSlow** · 03-19-2020, 10:47 AM

Originally Posted by mr2mike

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From a very reliable source: Cuts are across the board for every employee.

I belive your source.

**The_Rural_Juror** · 03-19-2020, 10:52 AM

Originally Posted by ExtraSlow

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I belive your source.

I believe your source's source, but not your source nor yourself.

**sabad66** · 03-19-2020, 10:53 AM

dang, sorry to hear that. i suppose its better than layoff though.

**vengie** · 03-19-2020, 11:22 AM

On top of our layoffs yesterday the remaining employees are taking a 10% wage reduction.
Senior managers are taking 20%

**Xtrema** · 03-19-2020, 12:29 PM

Originally Posted by sabad66

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CNRL cutting salaries of execs and Board 15-20%. Good move for optics at least. Hopefully they don't cut workers' salaries

If the executive are taking less, you pretty much expect some shit is coming down to the peons.

A O&G job > EI.

**nzwasp** · 03-19-2020, 12:32 PM

Originally Posted by Xtrema

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If the executive are taking less, you pretty much expect some shit is coming down to the peons.

A O&G job > EI.

I read on CP it was
10% for 100-150k plus
5% for 50-100K
0% for 0-50K

**pheoxs** · 03-19-2020, 12:54 PM

Originally Posted by nzwasp

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I read on CP it was
10% for 100-150k plus
5% for 50-100K
0% for 0-50K

That's actually a reasonable way to do it.

Sucks if you make 101k tho haha

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