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  • HollyFrontier: Time To Increase Exposure To This Cheap Refiner Again [View article]
    In addition to the WTI/Brent spread the WTI Cushing/WTI Midland spread compounded refiner profits. Both spreads have shrunk substantially in the last 60 days. Not sure if the stocks have declined enough to reflect the reduced forward profit margins.
    Apr 14, 2013. 11:23 PM | 1 Like Like |Link to Comment
  • Eagle Ford Shale: Schlumberger-Forest Oil Joint Venture - Quick Read [View article]
    Generally speaking, the the updip Eagle Ford is not that good. You can see that the proposed wells are crowding the SE part of the acreage. But, SLB has everybody's information. That plus perhaps the trade was good enough to bring them in.

    Still, surprised to see a service company taking an equity position.
    Apr 13, 2013. 11:47 PM | 2 Likes Like |Link to Comment
  • EIA Forecast: Texas Will Beat North Dakota In Crude Oil Production Growth [View article]
    West Texas producers were getting killed from November through February with actual realized oil prices of $15-$20 less than WTI NYMEX not to mention the Brent/WTI spread. Surplus supply and refinery shutdowns were the major problem.

    I was worried that drilling could slow down due to the somewhat marginal economics of $70/bbl crude.

    Big improvement in March. The Brent/WTI spread has narrowed and the new pipeline capacity is starting to take effect. Realized prices are around $85 or only $7-$9 under NYMEX. Drillers can breathe again.

    Permian production has a lot of room to grow. We just have to get it moved out of here. The pipeline companies and the railroads are getting it done.
    Apr 12, 2013. 11:52 PM | 2 Likes Like |Link to Comment
  • Impressive Progress In The Federal Budget [View article]
    The trends are interesting, but the facts are that the spread between the blue line (revenues) and the red line (govt spending) is still greater than any time since 1990.

    If we could just keep the govt on a 1% escalator for 5 years running we would be in great shape.
    Apr 11, 2013. 10:20 PM | 1 Like Like |Link to Comment
  • Shifting Away From Defense [View article]
    PSX recently has been ripping off their customers of many years by paying $75.00/bbl when WTI posting is over $90.00.

    They call this buying "advantaged crude".

    Then they sell the refined product based on Brent price. Sooo, $3.75/gal gasoline.

    In my book I call this theft without a gun.

    Tomorrow we are changing purchasers. PSX can drop dead.
    Apr 8, 2013. 01:52 AM | Likes Like |Link to Comment
  • Petrobras And Total: Low Valuation Energy Stocks Deserving Upgrades [View article]
    PBR will be manipulated by the Brazilian govt for the forseeable future.

    The free market will not be applicable.

    Ride along at your own risk.
    Apr 6, 2013. 12:29 AM | 1 Like Like |Link to Comment
  • You Won't Lose Sleep Owning ConocoPhillips [View article]

    You obviously will have some learning moments in your future.

    But on COP you are probably right. Buy yourself 10 shares and add as you are able.

    The fact that you are starting at your young age puts you ahead of almost all of your peers.

    Best of luck and fortune!
    Apr 6, 2013. 12:05 AM | 1 Like Like |Link to Comment
  • Top 25 Global Banks Ranked By Losses In 2012 [View article]
    Wow! $122 billion in losses. I wonder if anybody got fired. Probably not, but I bet their bonuses got reduced.
    Mar 31, 2013. 11:20 PM | Likes Like |Link to Comment
  • Confidence: Half Full Or Half Empty? [View article]
    Looks like over time the Baby Boomers have temped youthful optimism with the reality of experience.
    Mar 27, 2013. 11:50 PM | Likes Like |Link to Comment
  • ConocoPhillips Announces A Significant Gulf Of Mexico Discovery [View article]
    So the appraisal well is 1000 feet low structurally to the discovery well.

    But still no water leg?

    Holy Mackerel!!! This could be the big one!l
    Mar 22, 2013. 12:47 AM | Likes Like |Link to Comment
  • What Alaska's Oil Tax Cut Means For ConocoPhillips [View article]
    Alaskans pay the lowest per capita taxes in the United States.

    Alaskans also receive a check each year from the State paid for by oil production, roughly $1100 per person.

    This was fine as long as oil production rates were substantial and prices were high.

    But when taxes are relatively higher than other promising oil basins, capital will migrate, as it has.

    So now, the production decline curve and price decline curve are combining to force a reality check on the politicians and ultimately the taxpayers.
    Mar 21, 2013. 11:52 PM | 2 Likes Like |Link to Comment
  • Valero, The Agricultural Oil Play [View article]
    A decent Eagle Ford well will make 500 BOEPD or 182,500 BPD the first year.

    Corn ethanol makes about 10 BE per year per acre or 6.7 bbl oil energy equivalent per acre.

    So one Eagle Ford well equals 27,375 acres of corn ethanol production.

    There are 240 rigs drilling in the Eagle Ford right now, perhaps 20 days per well.

    All the corn in Illinois cannot touch this.
    Mar 21, 2013. 11:23 PM | 2 Likes Like |Link to Comment
  • Oil and gas production is shut at the Oseberg field in the North Sea after mulitple power failures yesterday, and the situation is still unstable, Statoil (STO +0.3%) says. The company plans to airlift some workers from the area out of ~700 working on the facilities during a period of high activity. Oseberg gas output today was cut by ~21M cubic meters/day. [View news story]
    Shut in. Get it right.

    Electrical failures are a fact of life. They will be back on production by Monday.
    Mar 16, 2013. 03:11 AM | Likes Like |Link to Comment
  • Argentine Peso Blues [View article]
    The Argentinian people must be mongoloid idiots.

    They insist on reelecting criminal governments that fiscally screw the electorate and business on a continuing basis.

    They deserve what they get. Invest there at your own great risk.
    Mar 11, 2013. 02:47 AM | Likes Like |Link to Comment
  • U.S. Production Of Crude Oil Surges [View article]
    You may recall that the anointed one said "We can't just drill our way out of this problem." (5-6-11, Indianapolis, IN).

    While he was talking, the free men of Texas and North Dakota were drilling . We were too busy and didn't have time to listen to his speech. Which, obviously, would have been a waste anyway.

    Since then, WE, the oilmen, have put about 1,000,000 BOPD in the tank. Wait until the end of this year. We will put another 500,000 BOPD in the tank.

    The Saudis and Venezuelans are getting nervous.

    Meanwhile in his SOTFU address the anointed one says that "WE" have increased domestic oil production. He had nothing to do with our Nation's oil production increase. Nothing!!! But he would like a little free credit. What a guy.
    Mar 4, 2013. 01:25 AM | 1 Like Like |Link to Comment