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[ThePenIsMightier]

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The people I know who could start an oil an gas investment "with legs to stand on" aren't having trouble finding money.

There's lots of money available for good startups with a solid team.

Doing what and for how much money? From what I've seen, obtaining private funding with zero operating assets can be extremely difficult. Strike 1 is you're in Alberta and so much of the financing is in Toronto. Strike 2 is "eewwwww hydrocarbons are on the way out". Strike 3 is you probably didn't have enough money to advance engineering far enough to mitigate all the risk and investors hate that. Strike 4 is you need it "book-ended" before you can even get in the room with investors and that's a chicken-egg issue.

[killramos]

“Advance engineering far enough”

Tell me you work in oil sands/EPC without telling me you work in oil sands/EPC

The real solution is don’t be poor.

[ExtraSlow]

Drilling oil wells.

[ThePenIsMightier]

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“Advance engineering far enough”

Tell me you work in oil sands/EPC without telling me you work in oil sands/EPC

The real solution is don’t be poor.

Well, it's the sad truth of project existence, isn't it? The more advanced the engineering is, the more accurate the estimate is and the less likely the project is going to cost 3x what some Anustart guessed after a Pre-FEED. All the nerd work gets boiled down to nothing more than a dollar figure with a +/-___% next to it.
And oil sands has learned almost zero because they keep making FID at the end of FEED while they did nothing but slash the cost, scope and schedule of the early phases of Eng while some fuck knuckle tries to tell people "it's front-end loading". Fort Hills bought about half a billion dollars worth of extraction equipment Lump Sum, Turnkey at the start of Detailed Eng! And that's on a project that went through! Imagine what they did on Voyageur the couple of times before it was cancelled for serious.

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Drilling oil wells.

What's that roughly cost?

[ExtraSlow]

Oilsands is an entirely different industry. I won't comment on that.
Cost is ~$50 to $300 million for enough of them to matter. Any less than that and the people with the money can't even get hard.

But in terms of me giving people investment advice, I say don't. Just buy a dividend index ETF.

[ThePenIsMightier]

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Oilsands is an entirely different industry. I won't comment on that.
Cost is ~$50 to $300 million for enough of them to matter. Any less than that and the people with the money can't even get hard.

But in terms of me giving people investment advice, I say don't. Just buy a dividend index ETF.

Oh wait. I figured out the difference now. I was associating "start-up Co" with new tech and that's wrong. Existing, proven tech should be way, way, way easier to fund.

I'm super dull today.

[SKR]

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The people I know who could start an oil an gas investment "with legs to stand on" aren't having trouble finding money.

There's lots of money available for good startups with a solid team.

How much money is available for bad startups with a weak team? I think that's a lot more my arena.

[ExtraSlow]

I like stuff. Bought a few plates of delicious food from Peking Peking at lunch today. Love that place, just wish it was ten minutes closer to my workplace.

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How much money is available for bad startups with a weak team? I think that's a lot more my arena.

You have some competition there. I know a few of those as well. I have a buddy looking for 30 schmils to become the seventh entry into a niche market. He might get it too.

[Buster]

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How much money is available for bad startups with a weak team? I think that's a lot more my arena.

That's what San Francisco is for

[EmJay]

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Where at?! Looking to get scales of cars I've owned.

I tracked this one down on a random classified site in Europe and then had it shipped to me. These are 20+ years old now and long out of production so only way to pick them up is by keeping an eye on the typical classified sites like ebay, facebook marketplace, kijiji and so on. Not too sure what colour your M Coupe was, but they also come in Estoril Blue, Imola Red, Cosmos Black and Phoenix Yellow.

[vengie]

If you have a good idea, model, etc money is very easy to come by from what I've seen.

I just watched a fairly significant raise from the sidelines-ish. Was neat to experience and learn from.

[killramos]

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Well, it's the sad truth of project existence, isn't it? The more advanced the engineering is, the more accurate the estimate is and the less likely the project is going to cost 3x what some Anustart guessed after a Pre-FEED. All the nerd work gets boiled down to nothing more than a dollar figure with a +/-___% next to it.
And oil sands has learned almost zero because they keep making FID at the end of FEED while they did nothing but slash the cost, scope and schedule of the early phases of Eng while some fuck knuckle tries to tell people "it's front-end loading". Fort Hills bought about half a billion dollars worth of extraction equipment Lump Sum, Turnkey at the start of Detailed Eng! And that's on a project that went through! Imagine what they did on Voyageur the couple of times before it was cancelled for serious.

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What's that roughly cost?

Just fascinating to me how different this industry is relative to the lens you view it from.

None of that stuff you mentioned really has any bearing on anything I have ever done in upstream conventional / unconventional ‘s.

It’s just interesting is all.

[ExtraSlow]

We need a "spot the difference" thread for oilsands vs conventional peeps.

Although us conventional peeps call shale and tight rock "unconventional assets, so that could be a problem.

[killramos]

I feel like oil sands is a third tier entirely. Thermal might even be a 4th.

[ThePenIsMightier]

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Just fascinating to me how different this industry is relative to the lens you view it from.

None of that stuff you mentioned really has any bearing on anything I have ever done in upstream conventional / unconventional ‘s.

It’s just interesting is all.

None? You don't work on projects where some powerful good client arbitrarily decides to get the team to waste a month chasing a rainbow and then tells them to get back to the original scope but the deadline hasn't moved? How about someone who budgets a week in a schedule to cut a PO for $10 Million on a piece of equipment that is fundamental to the entire plant and every discipline?

Dr. George Jergeas has been preaching about the insanity of oilsands mega projects for years, so I'm not alone. Have you ever seen one of his presentations where he talks about Einstein, Russell Peters and a goat? It's pretty funny.

Don't think I'm supporting a PMP mentality for project execution though. That's equally pointless because people refuse to execute projects correctly so real project mgmt is navigating the raft through the rocks and hitting as few as reasonably practicable.

[killramos]

Yea. None.

Believe it or not

[JfuckinC]

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None? You don't work on projects where some powerful good client arbitrarily decides to get the team to waste a month chasing a rainbow and then tells them to get back to the original scope but the deadline hasn't moved?

I don't understand 3/4 of what you're saying, but this hits home lol

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Yea. None.

Believe it or not

Must be nice to work somewhere with decisive clients haha

back on topic, todays purchase because i was too lazy to roll out my air compressor hose... so far no one on instagram has laughed at my caption though, fuckers.

[killramos]

I just don’t have clients lol

[90_Shelby]

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I don't understand 3/4 of what you're saying, but this hits home lol





Must be nice to work somewhere with decisive clients haha

back on topic, todays purchase because i was too lazy to roll out my air compressor hose... so far no one on instagram has laughed at my caption though, fuckers.

I got you dude. That's funny.

[ThePenIsMightier]

That blows.