Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Keep in mind that much of this is because Russia and the Saudi's are pumping like crazy! Basically trying to put our shale oil companies out of business!
When it gets sub 80 cents a gal get back with me. I want the summer of 1986 back again.
My HOTROD will roam the streets more often! 6 mpg, is 1/8 mile at a time type stuff, when 112 octane is $7 a gallon. I need to call my local VP guy and see what Race Gas is today.
Keep in mind that much of this is because Russia and the Saudi's are pumping like crazy! Basically trying to put our shale oil companies out of business!
They can try, like they did in the past and failed.
The main US oil companies never go "out of business" and pop-ups in a boom are uncontrollable.
What happens: They cut off all wells. Because it cost more to maintain the wells and haul oil and water.
People are laid off, but the oil drilling and hauling companies, just lay low.
Sure some companies that were the lowballers and did not know how to manage their finances, will go under.
This is not their first rodeo. They have been through this before, more than once.
Petro based economies like Saudi and Putin, think they can have what equals to a "Sale" to put their competition out of business. What happens is, they themselves work for free while losing more money than those competitors that ceased production. It becomes a wash, with the majority people benefiting the most, with lower cost of living.
They cannot pump at "Sale" prices for long, or they too go out of business. Where the USA has other means of GDP.... Saudi and Russia don't.
I have 2 wells and they have been shut off for 6 months now. The company leasing, took the big pump out, on one sight(the well that had a lot of water)
I told them to turn them off, when the royalties dried up and they were pumping at break even.
It has been a few months since I have seen a well pumping anywhere on the Eagle-Ford.
They can try, like they did in the past and failed.
The main US oil companies never go "out of business" and pop-ups in a boom are uncontrollable.
What happens: They cut off all wells. Because it cost more to maintain the wells and haul oil and water.
People are laid off, but the oil drilling and hauling companies, just lay low.
Sure some companies that were the lowballers and did not know how to manage their finances, will go under.
This is not their first rodeo. They have been through this before, more than once.
Petro based economies like Saudi and Putin, think they can have what equals to a "Sale" to put their competition out of business. What happens is, they themselves work for free while losing more money than those competitors that ceased production. It becomes a wash, with the majority people benefiting the most, with lower cost of living.
They cannot pump at "Sale" prices for long, or they too go out of business. Where the USA has other means of GDP.... Saudi and Russia don't.
I have 2 wells and they have been shut off for 6 months now. The company leasing, took the big pump out, on one sight(the well that had a lot of water)
I told them to turn them off, when the royalties dried up and they were pumping at break even.
It has been a few months since I have seen a well pumping anywhere on the Eagle-Ford.
$1.74/gal today in Houston. But, it’s $1.95 or so at most places.
They can try, like they did in the past and failed.
The main US oil companies never go "out of business" and pop-ups in a boom are uncontrollable.
What happens: They cut off all wells. Because it cost more to maintain the wells and haul oil and water.
People are laid off, but the oil drilling and hauling companies, just lay low.
Sure some companies that were the lowballers and did not know how to manage their finances, will go under.
This is not their first rodeo. They have been through this before, more than once.
Petro based economies like Saudi and Putin, think they can have what equals to a "Sale" to put their competition out of business. What happens is, they themselves work for free while losing more money than those competitors that ceased production. It becomes a wash, with the majority people benefiting the most, with lower cost of living.
They cannot pump at "Sale" prices for long, or they too go out of business. Where the USA has other means of GDP.... Saudi and Russia don't.
I have 2 wells and they have been shut off for 6 months now. The company leasing, took the big pump out, on one sight(the well that had a lot of water)
I told them to turn them off, when the royalties dried up and they were pumping at break even.
It has been a few months since I have seen a well pumping anywhere on the Eagle-Ford.
The land guys are still working. One wants to buy out our lease for cash. Guess he wants to help us out.
My HOTROD will roam the streets more often! 6 mpg, is 1/8 mile at a time type stuff, when 112 octane is $7 a gallon. I need to call my local VP guy and see what Race Gas is today.
My V8 S10 got 6mpg with that TH350 trans. My 650hp C6 Vette can get around 30 mpg if i drive 55mpg and no stops and starts.
The land guys are still working. One wants to buy out our lease for cash. Guess he wants to help us out.
I have some leases that were gifted to me decades ago, and I have received many unsolicited cash offer letters in the mail over those decades. I have yet to see one that would be worth considering.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Guess he wants to help us out.
I have some leases that were gifted to me decades ago, and I have received many unsolicited cash offer letters in the mail over those decades. I have yet to see one that would be worth considering.
