Crude oil is $86 today.... beginning of the end?

Discussion in 'Oilfield Trucking Forum' started by kogaFX, Oct 9, 2014.

  1. Arky

    Arky Heavy Load Member

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    Decent chance I'd say. I'd guess that $2.25-$2.50 might be a more reasonable guess though.
     
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  3. Moon_beam

    Moon_beam Heavy Load Member

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    Ticker
    GDP ... Goodrich Pet. 34.24
    LPI ..... Laredo Pet. 33.52
    REN ... Resolute Energy 31.14
    SFY .... Swift Energy 29.8
    SN ..... Sanchez Energy 29.48
    TPLM .. Triangle Pet. 25.62
    MHR ... Magnum Hunter 16.67
    CLR .... Continental Resources 19.91

    These are the percentage drops for some shale oil companies
    for Friday November 28, 2014.
     
  4. Arky

    Arky Heavy Load Member

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    Likely to be a really good time to buy a few of those. If not right now, over the next few weeks. Markets nearly always over react and huge profits can be made on the upswing. I pulled a 42% growth out of my 401k one year by taking advantage of a single market swing.
     
  5. Driver5

    Driver5 Light Load Member

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    This x2. I'm looking to pile into Devon Energy and a few others here shortly. There's a whole lot of money to be made when the rest of the world is convinced the sky is falling.
     
  6. SoTxTrucker

    SoTxTrucker Bobtail Member

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    Exactly right...what other companies are you looking at? I don't know very much about Devon...
     
  7. dallas dave

    dallas dave Bobtail Member

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    Oil booms come and go. Towns and cities build up only to whither away whenever the rigs pull out. This one is no different. Anyone that expected this thing to really go on for 10 years (Eagle Ford Shale) were misguided. I left a crude driving position 5 months ago, it turns out just in time. There will be drilling activity here in the Eagle Ford for awhile but crude at 60 and below is too expensive. The rigs will begin to stack until the whatever forces that drive the price of oil can drive the price back up. It was fun and made a lot of money while I was driving put the decision to hang up the hard hat was a good one.
     
  8. OldHasBeen

    OldHasBeen Road Train Member

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    The oil companies have been way to rich, they need to learn to live on much less. Yet all the rich wants to do is make us poorer while they live large. And in the last several years they've been living way to large.
     
  9. Arky

    Arky Heavy Load Member

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    We have an old grain bin here on the farm. I'm thinkin that I'll just seal it up good and tight and fill it with Texas Tea :)
     
  10. EducatedTrucker

    EducatedTrucker Bobtail Member

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    Absolutely zero, in fact we're adding additional crews for next year. I think some of the baker Hughes guys will end up on the chopping block but no, we're not stopping/slowing because fracing isn't going anywhere. Think of it this way:you can't unlearn something once you've learned it, and fracing is an advanced method to extract oil that would otherwise be unreachable. I see this everyday and its an amazing process. It's also "cheap" for larger companies because they have more technology, resources, and money with which to explore. I'm fairly confident in my position and nowhere here (at work) is there any mention of slowing down.

    As as for the Arabs, yeah they're scared sh/tless because they know there is more oil in the US than all of the OPEC countries combined. This is why they will never stop production and in fact, are now selling their oil to us for 25% cheaper than before. Supply and demand---we have plenty of oil and now have ways to get more out of the ground here in America and this in turn has caused gas prices to fall. The Russians and the Iranians economies depend heavily on oil to be above $100/barrel so their economies will start to slow down (think our government doesn't already know this????) Low gas prices are excellent for the US economy as people will have more disposable income, so think about it---do we keep doing what we're doing for the sake of the American consumer OR do we slow down drilling somehow to benefit the global price of oil? Remember that oil is currently traded (among other things) in US dollars (consider the strength of the dollar here).

    Like it or not, EVERYTHING on this planet has some form of dependency on oil. Drill baby drill.
     
    unloader and Texas Bound Thank this.
  11. OldHasBeen

    OldHasBeen Road Train Member

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    If I did that the bottom would drop out & I would be stuck with burning very expensive gas while my neighbors & others would be enjoying driving around the country side & going everywhere on very cheap gas.
     
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