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

[Chili]

Is the recent growth in dfw really that dependent on O&G?

I was wondering the same.

Midland / Odessa is going to be stock full of foreclosures for those looking for investment properties! You just have to wait until oil prices shoot back up to cash in.

Oh, and plenty of ridiculous diesel trucks!

[juiceweezl]

I wouldn't think so. I think the whole thing with the housing market in DFW has more to do with all the Corporations moving here, and the workforce they bring with them. Toyota, State Farm, etc. Well, that and the low interest rates.

Correct. In fact, you could argue that lower O&G prices are aiding other areas. My company is tied to housing starts, and we are beginning to really thrive again. Housing starts are coming back, and not just multifamily. People have a little bit more money now because they're spending less on gas. Enough to upgrade home? Probably not, but perception is reality.

I just wish O&G would level off somewhere and stay there the way the market should do instead of being a roller coaster.

[Ruffdaddy]

I wouldn't think so. I think the whole thing with the housing market in DFW has more to do with all the Corporations moving here, and the workforce they bring with them. Toyota, State Farm, etc. Well, that and the low interest rates.

That's a long the lines of what I was thinking...but really don't have any true daat to support or deny that.

[bcoop]

That's a long the lines of what I was thinking...but really don't have any true daat to support or deny that.

I don't have any data on it either, just going off of what I hear from real estate agents and folks tied to the mortgage business.

[Ruffdaddy]

Let's hope we can start exporting light crude again and Mae OPEC sweat. They want the benefits of capitalism...let's show them how it works when you have to play by the same rules then. Too much arrogance has come from saudi recently to not do something.

http://www.worldoil.com/ConocoPhillips-CEO-calls-for-US-to-export-surplus-crude.html

[Strychnine]

Lewis Energy Group (first company to drill a well in the Eagle Ford in 2002, and current operator of ~1400 wells down there) is cutting 20% of their workforce. They have around 1300 employees, so 260 or so just got the axe.

KPMG expert explains why Saudi Arabia can't sink crude prices into oblivion

"The real break even for a lot of these countries is not what they're finding in extraction and transportation costs. The real price for oil is what are the expectations of their populace in terms of commitments the government has made in terms of subsidies."

"You're going to run out of money very quickly. Who's going to lend to countries like that because not all those countries will be able to bridge the gap with debt like the US government is able to do."

Overall, this price volatility could be a good thing for the industry.

- Regina Mayor, advisor for the consultant practice at KPMG

[Strychnine]

Also Qatar and Shell just scrapped plans for a $6.5 billion plant project.

The Dallas Federal Reserve bank estimates 140,000 jobs directly and indirectly tied to energy will be lost in Texas in 2015 because of low oil prices.

Oh, and even as rig count falls US production will continue to rise, so good luck getting rid of the glut.

[YALE]

Whaaaaaat? There's a follow-on effect to exploration? It's production?

[Ruffdaddy]

Thankfully shale wells deplete fast!

[GrayStangGT]

Apache started their layoffs here yesterday.

[Strychnine]

Whaaaaaat? There's a follow-on effect to exploration? It's production?

I read this in Charlie Kelly's voice:

[Baron Von Crowder]

[Ruffdaddy]

Anyone else wanna throw this out like its not from the 80s?

[Baron Von Crowder]

Anyone else wanna throw this out like its not from the 80s?

anyone else want to be a whiney bitch?

[Rick Modena]

Is today REPOST Thursday?