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

[Strychnine]

So when are we expecting gas prices to skyrocket back up, to where certain people want them to be? I'm guessing end of this year, early next year. I still say they won't easily let it go.

Question doesn't make sense.

Gas = oil? (this is what the big conversation is about)
Gas = natural gas? (everyone has just accepted low natural gas prices right now)
Gas = gasoline? (no one ever wants gasoline to skyrocket)

And "who" won't easily "let it go" ??

[Snatch Napkin]

FMC seems to be the business to own, in my limited experience.
Super easy business structure.
Constant business demand.
Employees don't require much in pay and benefits.

[Gasser64]

Question doesn't make sense.

Gas = oil? (this is what the big conversation is about)
Gas = natural gas? (everyone has just accepted low natural gas prices right now)
Gas = gasoline? (no one ever wants gasoline to skyrocket)

And "who" won't easily "let it go" ??

From reading your posts, it would seem like you already know the answer to all those questions. Yes gas related to oil prices, that's why I asked what we'd be seeing at the pump. Natural gas seems to be tied to the rest. They seem to follow each other around, for lack of a better term. "They" obviously being opec and others with a high interest in seeing prices at high levels.

[krazy kris]

Hell it's already at $2.50 for the cheap stuff

[YALE]

FMC seems to be the business to own, in my limited experience.
Super easy business structure.
Constant business demand.
Employees don't require much in pay and benefits.

They were cool as fuck to work for.

[Snatch Napkin]

They were cool as fuck to work for.

It sucked to see that level of layoff, in my area. Not to say that is what happened with you.

However, when it all picks back up, business for them should be absolutely phenomenal.

[YALE]

It sucked to see that level of layoff, in my area. Not to say that is what happened with you.

However, when it all picks back up, business for them should be absolutely phenomenal.

I'd love to be in technical sales for them or someone similar. We'll see what happens in December.

[Snatch Napkin]

I'd love to be in technical sales for them or someone similar. We'll see what happens in December.

Good luck, Man.

Funny how you mention December.

[Trip McNeely]

They were cool as fuck to work for.

lol I would disagree with that. I cut my teeth with FMC 10 years ago as a field service tech in the Barnett. I hated it. I have run into 3 people I Worked with there, up here. Everyone I worked with there has dissolved from that area or the company as a whole.

[Ruffdaddy]

-11...woot woot!!! Can't wait for some growth mahfkahs!!!

[Strychnine]

A few random Monday thoughts:

I know that one of the larger well servicing companies out there has zero completions scheduled for the remainder of 2015 in the MidCon. They went from 100 stages/month to none, but Utica is still very strong for them.

OPEC: Oil Prices To Stay Below $100/Barrel For Next Decade

Oil prices will stay below $100 per barrel at least until 2025, according to a draft of OPEC's latest strategy report seen by the Wall Street Journal. The report seen by the paper is a draft presented at an OPEC strategy meeting in Vienna last week.
"$100 Is Not In Any Of The Scenarios"

The report's most optimistic scenario forecasts that oil prices will be around $76/bbl in 2025- manifesting OPEC's concerns that US competitors will be able to cope with low prices and increase production.

The draft report seen by the paper also contemplates scenarios with oil prices below $40/bbl in 2025. A delegate at the OPEC strategic presentation last week in Vienna is quoted by the WSJ as saying, "$100 is not in any of the scenarios."

The drastic fall in oil prices since June is of key concern to oil-producing countries that require oil revenues to balance their budgets. Crystallizing this concern is the fact that Kuwait and Qatar are the only OPEC members that can meet their planned government spending at $76/bbl, according to IMF data cited by the paper. Most OPEC countries need prices to be significantly north of $100/bbl.
A Return To A Production Quota System?

Oil prices could either rise higher or fall further between now and 2025, the WSJ reports the draft as saying. The draft report recommends that OPEC return to a production quota system that it largely jettisoned in 2011 following conflicts regarding how much each member nation would be allowed to produce. OPEC members have been reticent to agree to output limits as it restricts their capacity to gain new business- and most have disregarded their quotas.

Currently, some OPEC members, including Saudi Arabia and Iraq, are producing record volumes of crude in an attempt to maintain or gain market share. This market share-oriented strategy was the central component of the Saudi-led decision of the group last November to maintain its 30 M/bd output quota.

Officials said that the draft of the OPEC report recommends that production quotas could be enacted if OPEC's share of the global market dropped below its current level of 32%, the WSJ reported. One OPEC official told the paper, "At one point, OPEC won't agree to go lower."
OPEC Needs To Become More Disciplined

The WSJ reports that the output quotas scenario being considered by OPEC would permit the group's poorest members to produce more. Though the report does not refer to any particular country, such a policy could especially help such members as Venezuela and Algeria, whose economies have been particularly hard-hit due to the price plunge.

According to a person who has seen the report cited by the WSJ, the draft recommends a "targeted remedy": “The effect of a weaker, protracted soft market is stronger on some countries than others. So the remedy has to be targeted."

The official told the WSJ that if OPEC's power to influence markets could be strengthened if the group became a more disciplined organization. "If they want to sustain the organization, they have no choice," the official told the paper, adding that any concession by stronger members (ie, the Gulf States) would be temporary.

Saudi Chevron Halts Ops At Wafra Oilfields- 250 K/bd Removed From Global Market

Chevron's subsidiary in Saudi Arabia began shutting down production on Monday at the Wafra oilfields, meaning that roughly 250,000 bpd of potential supply to global markets will be removed, according to a Bloomberg report.

Chevron is the only large IOC to have a continuous upstream presence in the Kingdom of Saudi Arabia for more than seven decades.

The sources with whom Bloomberg spoke said operations at the Wafra oilfields are shutting down for maintenance from today until May 26. And they most likely will not resume because of ongoing difficulties. Saudi Arabia is jointly developing the fields with Kuwait.

The importance of this move is that the removal of ~250 K/bpd of supply could help alleviate the global supply glut that's driven oil prices down by about 50% since last summer.

The fields have an output capacity of roughly 250,000 bpd. In February, the fields were producing 180,000 barrels, two other sources told Bloomberg in late April. These same sources told the news agency that Kuwait's government stopped renewing or issuing permits for workers at the Wafra fields last year.

In October, Saudi Arabia stopped operations at the Khafji offshore fields, which are situated in the same neutral zone as the Wafra fields. The Khafji fields also have an output capacity of roughly 250,000 bpd.

Chevron had initially planned to spend as much as $40 billion on the Wafra project, which frees heavy oil by injecting steam underground. According to the website of Saudi Arabia's oil ministry, Chevron's concession to operate the Royal Kingdom's stake in the shared border zone doesn't expire until 2039.

[Ruffdaddy]

I think I know who that may be! And if it's not who I think it is...that makes 2 major servicing companies with a massive drop.

[Trip McNeely]

Lots of M&A's taking place, and plenty more to happen. Noble bought Rosetta today.

[Jimbo]

Dickinson, ND

[Strychnine]

H&P?