Are low oil prices helping or hurting you?

[SlugSlinger]

ETE is currently discussing via a webcast, the acquisition of Tulsa based Williams Cos. The thing that stands out to me is the $400m in cost savings related to the acquisition.

This takeover will likely hurt the OK economy as Williams pays approximately $1.2B in taxes, at least in 2014. ETE is based in Dallas Texas.

 

[aarondhgraham]

I own a microscopic portion of a mineral rights claim.

When Gas was up over 3 bucks a gallon,,,
My checks came every month and were always over $100.00.

Now that gas is much lower,,,
The checks are much smaller as well.

So they seem to be cancelling each others effects out.

I'm not complaining,,,
Just noticing the unique situation.

Aarond

.

 

[vdub]

ETE is currently discussing via a webcast, the acquisition of Tulsa based Williams Cos. The thing that stands out to me is the $400m in cost savings related to the acquisition.

This takeover will likely hurt the OK economy as Williams pays approximately $1.2B in taxes, at least in 2014. ETE is based in Dallas Texas.

This is interesting as my neighbor works for Williams. Be interesting to see how this plays out.

 

[Wheel Gun]

It's looking ugly out there for the oil patch. Plan accordingly:

http://tinyurl.com/o8fyg36

While 2016 E&P budgets have yet to be calibrated, we believe the independents as a group will spend significantly less in 2016 than they did this year. 2015 budgets fell about 45% year-over-year. We now believe 2016 spending could fall a further 20-25% from current levels. Our 2016 estimate is informed by our belief that E&P spending will follow operating cash flow trends next year.

 

[SlugSlinger]

It's looking ugly out there for the oil patch. Plan accordingly:

http://tinyurl.com/o8fyg36

Planning should have occurred a long time ago. We are now in the reacting stage.

 

[Wheel Gun]

Planning should have occurred a long time ago. We are now in the reacting stage.

True, but I was providing new information and suggesting that affected people plan accordingly. Many/most pundits have been touting a moderate recovery in 2016. This assumed a "U" type cycle. This new data suggests an even worse 2016. I guess we're now looking at an "L" scenario. It's a disappointing development.

 

[Shadowrider]

It's looking ugly out there for the oil patch. Plan accordingly:

http://tinyurl.com/o8fyg36

I know that a bunch of this, if not all, can be rolled into the savings of contracted services. Example: Dayrates for drilling rigs are down at least 20%. Frac services, etc. are going to be similar. So hopefully we have seen all the cuts we are going to through 2016, but if the price of oil keeps going south there will be more.

 

[dennishoddy]

Saw an article today that Sand Ridge is not as insolvent as we thought possibly? They are cutting dividends, and continuing down the road.

 

[Shadowrider]

I saw an article stating that they were suspending payments of what sounded like several types and the gist of it was that Sandridge was basically already dead.

I saw awhile back that they are going to be delisted if they don't get their stock price up to $1.00 before the end of the year. That was a few weeks back and talk of a reverse split, but that won't get them all the way there, not at 2:1 anyway. I don't know what the rules are on how that works but they are in a bad way.


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[Shadowrider]

CHK is laying off. Right this minute according to my channel 5 mobile app.


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