Originally posted by RiverRat1
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Hey Oilfield Guys!!
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Originally posted by hammer63 View PostThe biggest headache for US companies when dealing with nationalized oil is the trust issue. I worked (engineered) a $40B Joint venture project with a major US company in Venezuela and the major was constantly managing their exposure to loss in the event that the Venezuelan gov't decided to kick the major to the curb.
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Originally posted by RiverRat1 View PostAnd is that not what happened?
Isn't OPECs job mainly to stabilize the price of oil? If so they're not doing very well watching it drop 2-5% every day down from 80 and then say they will not cut back to stop the fall.
OPEC is looking out for OPEC's best interest.
In this case, it is in their best interest to shut down the higher cost oil producers. Unfortunately that included our higher cost shale plays here in Texas.
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Originally posted by cosmiccowboy View PostI'm not sure where you got the idea that was OPEC's "job".
OPEC is looking out for OPEC's best interest.
In this case, it is in their best interest to shut down the higher cost oil producers. Unfortunately that included our higher cost shale plays here in Texas.
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Originally posted by duckmanep View PostCommodities go up, commodities go down.
When prices of a commodity are high, one industry will thrive, another will suffer.
When prices of a commodity are low, one industry will thrive, another will suffer.
IMO lower oil prices are a symptom of a weakening economy, not the cause.
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Originally posted by txjustin View PostDon't know anything about this company, but one down already. More to follow.
http://oilpro.com/post/9485/first-us...il-price-crash
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Originally posted by txjustin View PostDon't know anything about this company, but one down already. More to follow.
http://oilpro.com/post/9485/first-us...il-price-crash
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As of 2007, some experts suggested that the Barnett Shale might have the largest producible reserves of any onshore natural gas field in the United States.[1] The field is thought to have 2.5×1012 cu ft (71 km3) of recoverable natural gas, and 30×1012 cu ft (850 km3) of natural gas in place.[1] Oil also has been found in lesser quantities, but sufficient (with recent high oil prices) to be commercially viable.
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Originally posted by txjustin View PostDon't know anything about this company, but one down already. More to follow.
http://oilpro.com/post/9485/first-us...il-price-crash
Those companies with good balance sheets and practices will take advantage of this time and come out the other end stronger.Last edited by RJK70; 01-08-2015, 09:42 AM.
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Originally posted by gingib View PostI did.
I was making a general reference to oil/gas employees because I am afraid the long excellent run will terminate many employees and most I have seen can't manage a $1.......spend baby spend
this coming from people who rejoice over the life changing status they derive from $1/gallon cheaper gas.... yeah, that's where I want to get my financial advice from...someone who actually see's a tangible difference from a couple hundred dollars a month.
go ahead and enjoy the cheaper prices while you can, because when the gas goes back up, all of us oilfield folk will be back at full throttle taking those dollar bills right out of your wallet
Last edited by kyle1974; 01-08-2015, 09:20 AM.
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Originally posted by kyle1974 View Post
this coming from people who rejoice over the life changing status they derive from $1/gallon cheaper gas.... yeah, that's where I want to get my financial advice from...
Everyone enjoys cheaper fuel prices. I know I do. It's not the consumers fault that oil prices are dropping. Quite the opposite actually.
I hate to see anyone lose there job but it's totally out of my control.
Now do I want to pay $3 a gallon so a select few can get $$$fat$$$ and live high on the hog? Nope.
Does that make me a bad person? I don't think so.
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