And there was much rejoicing in the land.... Gas Prices

[Strychnine]

That's exactly how things like this happen. Hydraulic hoses fail or get punctured by a failed mechanical part and the rest is smoke and ash.

When I was at Cummins I had to deal with the aftermath of a drill rig that burned up a QSK50 genset. The fuel filters were a triple filter bank with drop in elements with clear plastic housings so you could read the level and gauge restriction. One of their techs overtightened the assembly one day and cracked it. Not long after it gave out while running and sprayed diesel all over the engine and burned it down. Stupid shit happens all the time.

[no4njnk]

Some of the causes for the fires lately: aluminum relief valve bodies installed on a 4500psi continuous hydraulic circuit on a pump that already had built in relief valves (OEMs fault), improper hot fueling (too many to blame here), bad maintenance and lack of real time data.

Some of the guys at work were in a meeting with Frac Tech and one did bring up the insurance money vs the money they would get out of the well. At least they laughed.

[Sean88gt]

Jewish lightning!

[Jimbo]

WTI at 29.69

85 octane is $1.77 in Wyoming.

[cool cat]

2.85 - 2.99 near Compton, CA last weekend.

[Strychnine]

A class action suit was just filed in Oklahoma against Sand Ridge, New Dominion, Chesapeake, and Devon for the earthquakes up there. They're saying the companies are liable for private nuisance, ultra-hazardous activities, negligence, and trespass.

[Chili]

WTI at 29.69

85 octane is $1.77 in Wyoming.

87 was $1.62 at the Racetrak on hwy 10 in Euless on my way home last night.. Diesel was $1.82.

[SBFORDTECH]

A class action suit was just filed in Oklahoma against Sand Ridge, New Dominion, Chesapeake, and Devon for the earthquakes up there. They're saying the companies are liable for private nuisance, ultra-hazardous activities, negligence, and trespass.

There will be more operators named in that suit...




And down another 14 this week.

[Strychnine]

And down another 14 this week.

Slight glimmer of hope (?) - only 1 of those 14 was oil directed.

[Captain Crawfish]

Lots of oil and gas bankruptcies on tap. Mismanaged companies with boatloads of debt will not survive

[broke again]

Slight glimmer of hope (?) - only 1 of those 14 was oil directed.

i do not think 20 dollars a barrel is out of the question from what i am hearing.

[zachary]

SO i am employed as an exploration geologist. I am 100% dedicated to this business and can not wait for the next uptick and monies to be made, but in the mean time...is there a way to bet against the markets/oil and gas investing wise?

Clearly 2016 will be doom and gloom and multiple multiple companies will go under/ be bought out/ or get reorganized. Are there some investments/bonds/ or something that you could invest in that are safe havens for situations like this? Bail out funds once multiple companies default etc? Did anything increase substantially in the mid 90's or 2008-09 as the oil and gas / overall markets sunk?

[Ruffdaddy]

Well youre a little late to bet against oil prices.

You may try to buy into companies that will be bought out in hopes that there is a premium offered for share prices.

Im also no investing expert. Maybe Slow99 will come along. Strych also knows much more about this side than me.

[no4njnk]

Being an election year don't expect too much movement or investments. Like you said right now 2016 looks to be a rough year where a lot of people will be out of work.

Betting against the market at this time would be less than ideal, oil could go to $20/barrel but comparing that from the $80-30 drop you do not have much to gain.

[jw33]

Stockpile Raptor's and travel trailers. In 20 years you will double your money.