Funny Zoo, you say it isn't personal, but it sure reads like it. Particularly with Aubrey. .
By the way, many oil companies, including our own, have spent the last couple of years trying to balance their gas reserves and their oil.
Funny Zoo, you say it isn't personal, but it sure reads like it. Particularly with Aubrey. .
By the way, many oil companies, including our own, have spent the last couple of years trying to balance their gas reserves and their oil.
Have you not seen the diversification that is going on here? If anything, I would be worried more about the collapse of Tinker and other government jobs than I would o&g for OKC, but that's my opinion and isn't really backed up by anything solid.
I agree with PWitty and it is obvious he really knows what he's talking about. I don't see him making any comments that read as if he is making excuses or being against OKC diversifying its economy.
Have a look at the expanding manufacturing base that is being added. The Will Rodgers Eastside development has a lot of new offices planned for aerospace jobs. OKC is also growing in Biotech as well. The one I wish OKC would really get is high-tech jobs, but other than that, I'd venture to say we have really diversified lately.
I agree with PWitty.
PWitty, I said nothing about Aubrey McClendon that others in the industry don't believe. He is lucky to have escaped prison. I think McClendon knows he's lucky. Of course, Chesapeake is still having to fight lawsuits brought against the company for shenanigans during his reign. I just told the truth, and it's not personal, just the truth.
Whatever, PluPan. Half the time I'm lost within the first few lines of your posts. It's certainly not a serious part of this discussion.
The latest news on this issue:
Fracking for Shale Gas: The new dot.com/subprime mortgage bubble?
I hope some of you are open-minded enough to seriously consider the ramifications. We have not diversified enough to keep another energy bust (from whatever sector) from leaving Oklahoma City in the dust. This is the last thing we want. But turning the other way because we don't want to hear it is not helpful.
A contingency plan for dealing with the ramifications to Oklahoma City must be drawn up. Hopefully to never be used.
So, let me get this straight. You think that the folks in the investment community, who are investing their own money in these companies, want all these operators to continue to ramp up production and intentionally lose money (assuming the prices/demand aren't there to support increased production) just to prove to the world that these reservoirs have the reserves that the companies claim they have?
You clearly have some personal bias towards the industry, and CHK and Aubrey McClendon in particular, because most of your response is more aimed at slandering them than arguing anything I've said.
Personal decision. Please respect my decision. Good luck to you all.
Double post
You're bailing on OKCtalk because people disagree with you? Not to disrespect your decision, but that seems like a weak way to exit a discussion. As I found from stupidly venturing into the politics section for the political earthquake thread, It's completely possible to agree to disagree and move on...even if the people you're having the discussion with are acting like complete jackasses (for the record, I don't think anything anyone has said here fits that description, nor do I put you in that category after our previous discussions). If you're going to throw an opinion out there, be prepared for people to disagree with it.
I would like to respond to your earlier post as well, I just haven't had time to read through the articles and put something together. I largely agree with PWitty, but I think there is definitely some validity to both sides of this argument.
Not sure about any bubbles buts whats with CHK and SD stock? They both hit 52 week highs less than 3 months ago and now are at or near 52 week lows.
Oil stocks are just on sale. No big deal.
DUG Oil and Gas Conference leaving Tulsa for Oklahoma City in 2015
DUG is an acronym for Developing Unconventional oil and Gas, such as horizontal drilling and hydraulic fracturing in shale rock formations.
The DUG Midcontinent Energy Conference, which originated in Tulsa nearly two years ago, will be moving to Oklahoma City next year, the event’s organizers announced on Tuesday.
Attendance had grown 25 percent and exhibitors by 60 percent in Tulsa, but Hart Energy was persuaded to move the DUG Midcontinent to Oklahoma City after multiple requests from local companies. Oklahoma City is the home of large companies such as Devon Energy, SandRidge Energy, Continental Resources and Chesapeake.
“Among the options we’re considering is an alternating schedule for DUG Midcontinent (between Tulsa and OKC),” Salerno said in an email to the Tulsa World. “We’ve also had discussions with VisitTulsa about another, different conference and exhibition in Tulsa — but we’re not ready to elaborate on those plans just yet.”
DUG Oil and Gas Conference leaving Tulsa for Oklahoma City in 2015 - Tulsa World: Energy
Oklahoma City could become the future home to many energy conferences which bring exhibitors. We need to put a top one priority on the new convention center complex.
When you know as much as PWitty you don’t need to read the links to know what you are talking about.
Odds are that he and several others here know more about the industry than most of the people who just write about it.
Some of us have lived it. I appreciate their perspective.
Oil in a free fall. Energy stocks are on sale big time. Cheseapeake at $19/share
$18.50 is my level on CHK to load up.
Unfortunately unless the Saudis change their policy the oil price decline looks like it’s going to be a very big deal for the next few months and perhaps next few years. The Saudis have usually trimmed or increased its production to control prices. Right now the world is awash in crude… Drill baby drill worked so well the Saudis are now driving crude prices down to recapture market share.
They are going to try and drive crude that has higher production cost off the market…. They have done this before.
The stronger dollar and lower demanded from China and Europe has helped weaken prices.
There is some thought that crude prices are being lowered to punish Russia and ISIS?
If the decline continues for very much longer it’s going to seriously impact our state’s economy and tax revenue.
The good news is that the lower crude prices should help stimulate the broader national economy. Many people will enjoy the lower fuel cost and have a little more money to spend.
It actually will do nothing to stimulate the national economy. Instead of spending money gas people then just spend on movies. It's moving money from the right hand to the left. Although it will help improve the national mood.
It's going to stabilize soon and probably in the $84 range. It's been beaten down for weeks straight now.
OPEC will cut production next month and that will provide a floor. OPEC needs it at $100 a barrel.
American production will start to fall somewhat in the winter especially in the Bakken.
A bitter cold winter will provide even more support.
I don't think you see it dip below $75. They're still making money, just not hand over fist.
In order to drive high cost crude off the market the figure I have heard is around $60.
The Saudis don’t care about the rest of OPEC. They have Iran to worry about. Low cost crude harms the Iranians a lot more than the Saudis. Harming Iran is also a very major Saudi goal. We could see the Saudis over producing for a long period of time. The Saudis have about 2.5 million barrels of spare daily capacity they could kick in anytime they want. Production cuts by other OPEC members could easily be made up for.
In the past major declines in crude oil prices has been flowed by an improved national economy with a lag time of about 6 to 9 months. But due to large heath care cost increases I don’t expect to see the same dynamic improvements that we saw in the mid 80’s and 90’s.
Gas prices can sometimes be a precursor to economic trends. Let us hope for the best.
Midstream taking the brunt of the hit today.
SSE down 12%
ENLK down 7%
MMP down 7%
ACMP down 5%
Not sure where to put this and I don't know Devon's exact role, but the campaign has been very negative:
Frackers Have Launched an Aggressive Campaign to Kill Denton's Drilling Ban | Dallas Observer
I can't vouch for most of the info in the article though. Just thought I'd pass it along.
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