Gas prices, anyone notice...

[carlstretch]

Sandridge wants to pay me $40k a year salary, I make $75k independently in 4 months of working, IF they feel like upping their salary range for me and guaranteeing I wont work more than 6 months a year sure, but I have gotten turned away as soon as I tell a Manager what I make now let alone the actual time worked, they say they cant match it! Which is BS because half the contractors these Oil and Gas companies hire cant produce decent work and they just turnover anyways.

I do strict Due Diligence work, Prefer to Work from Home, and if they want me to travel my per-diem is higher than usual as well. When you have the land and property law skills that I do they will take advantage of me if they are not paying through the teeth for it.

Yes the cost of wells are pricey, I know this because I have a 3/16th royalty in a well in Kansas, That royalty INCLUDES working interest, but the amount of money SPECULATED on the minerals and spent BEFORE drilling is where the problem comes in. I know independent landman with MILLIONS of $ that go out and lease faster and smarter than the big dogs, and they then turn around and flip the minerals in lease packages for 10,000% interest. The rampant speculation and lack of regulation as far as who and what can lease and sell minerals has led to an artificial increase in its value.

I totally understand. With your qualifications and speciality in such a niche,.. there's no way you can match your pay any other way than contract work. If you ever need a geological evaluation on a property,.. drop me a line. Be happy to help!!

 

[Shadowrider]

Most People aside from Field hands and DIRECT geologist support are 1099 Contracted in the Petroleum industry, so NO they do not have obamacare to pay for, any employees not already covered by health insurance are responsible for their OWN insurance, Source: I am a 1099 contractor who is wondering what I am going to do still. I need a $20k raise just to afford the LOWEST tier of health insurance, or I need a $5k raise to cover the cost of the TAX/FINE, but I do not think they are going to pass that on to us, it will most likely be the end of my Field Landman Career as I cannot make $15k or less as take home after insurance and taxes, taxes alone even with my LLC. and write-offs are close to %28, in other words I am hurtin' and squirtin'

ZH, I do the same thing you do. I'm 51 years old next month and my health insurance costs $229 a month. Granted it has a $5K deductible but with an HSA account to go along with it you can prepare for that, get a tax deduction, invest it in a brokerage (I'm up over $6K on my investments) and the money is always yours until you spend it on health care or retire. Screw Obama, his care and the horse he rode in on...

 

[nos8ed]

ZH, I do the same thing you do. I'm 51 years old next month and my health insurance costs $229 a month. Granted it has a $5K deductible but with an HSA account to go along with it you can prepare for that, get a tax deduction, invest it in a brokerage (I'm up over $6K on my investments) and the money is always yours until you spend it on health care or retire. Screw Obama, his care and the horse he rode in on...

I wish the horse would mount him for a change.

 

[Wild Weasel]

1/31/2013
HOUSTON – ConocoPhillips today reported fourth-quarter 2012 earnings of $1.4 billion, or $1.16 per share, compared with fourth-quarter 2011 earnings of $3.4 billion, or $2.56 per share. Fourth-quarter 2011 reported earnings included downstream results prior to the separation of Phillips 66 on April 30, 2012.
Excluding special items, fourth-quarter 2012 adjusted earnings were $1.8 billion, or $1.43 per share, compared with fourth-quarter 2011 adjusted earnings of $2.1 billion, or $1.55 per share. Special items for the current quarter included disposition-related impairments partially offset by tax impacts, net benefits related to legal claims and settlements, and discontinued operations.
Following recently announced agreements to dispose of the company’s interests in the Kashagan Field and the Algeria and Nigeria business units, the associated earnings and production impacts for these assets have been reported as discontinued operations. This decreased adjusted earnings for fourth-quarter 2012 by $27 million, or $0.02 per share.
Full-year 2012 earnings were $8.4 billion, or $6.72 per share, compared with full-year 2011 earnings of $12.4 billion, or $8.97 per share. Reported earnings for 2012 and 2011 included four months and 12 months of downstream results, respectively. Full-year 2012 adjusted earnings were $6.7 billion, or $5.37 per share, compared with full-year 2011 adjusted earnings of $8.0 billion, or $5.75 per share.
Reserves Update
Preliminary year-end 2012 proved reserves are 8.6 billion barrels of oil equivalent (BOE). Proved organic reserve additions for 2012 are expected to be 942 million BOE, representing an organic reserve replacement ratio of 156 percent of 2012 production, including fuel gas. Sales completed during 2012, net of purchases, reduced reserves by 83 million BOE, giving a total reserve replacement ratio of 142 percent.
Fourth-Quarter Review
Production from continuing operations for the fourth quarter of 2012 was 1,566 MBOED, compared with 1,538 MBOED for the fourth quarter of 2011. Adjusted for completed dispositions, production grew by 83 MBOED compared to fourth-quarter 2011. This increase was primarily due to new production from major projects and drilling programs as well as higher production in Libya and China. These increases more than offset normal field decline and downtime.
Adjusted earnings decreased compared with fourth-quarter 2011 primarily due to the impact of lower commodity prices. The company’s total realized price fell to $67.45 per BOE, compared to $69.99 per BOE in the fourth quarter of 2011. Realized crude oil prices decreased to $103.08 per barrel, compared with $105.92 per barrel for the fourth quarter of 2011. Realized natural gas liquids (NGL) prices decreased by 18 percent to $44.93 per barrel, compared with $55.06 per barrel for the fourth quarter of 2011. Realized natural gas prices decreased to $5.79 per thousand cubic feet (MCF), compared with $5.88 per MCF for the fourth quarter of 2011.
(See EARNINGS, Page 2)
For the quarter, cash provided by continuing operating activities was $3.87 billion. Excluding a working capital increase of $0.37 billion, ConocoPhillips generated $4.24 billion in cash from operations. The company funded a $3.6 billion capital program and paid dividends of $0.8 billion. During the quarter, debt increased $0.6 billion, reflecting the placement of $2.0 billion in low-interest debt, retirement of maturing debt and repayment of commercial paper.
Full-Year Review
Production from continuing operations for the year was 1,527 MBOED, compared with 1,561 MBOED for 2011. Adjusted for completed dispositions, production grew by 7 MBOED compared to 2011. New production from major projects and drilling programs, as well as higher production from the resumption of operations in Libya, offset normal field decline and downtime.
Adjusted earnings decreased compared with 2011 primarily due to the impact of lower commodity prices and volumes. The company’s full-year 2012 realized price fell to $67.68 per BOE, compared to $69.14 per BOE in 2011. Realized crude oil prices increased to $105.72 per barrel, compared with $105.52 per barrel for the full year of 2011. Realized NGL prices decreased by 17 percent to $46.36 per barrel, compared with $55.73 per barrel for the full year of 2011. Realized natural gas prices decreased by 6 percent to $5.48 per MCF, compared with $5.80 per MCF for the full year of 2011. Realized bitumen prices decreased by 14 percent to $53.91 per barrel, compared with $62.56 per barrel for the full year of 2011.
For the year, cash provided by continuing operating activities was $13.5 billion. Excluding a working capital increase of $1.2 billion, ConocoPhillips generated $14.7 billion in cash from operations. The company received $2.1 billion in proceeds from asset dispositions and $5.5 billion in net cash related to the separation of Phillips 66. ConocoPhillips funded a $15.7 billion capital program, including $0.8 billion related to discontinued operations. During the year, the company paid dividends of $3.3 billion and repurchased shares for $5.1 billion. Debt decreased by $0.9 billion.
As of Dec. 31, 2012, ConocoPhillips had debt of $21.7 billion and the debt-to-capital ratio was 31 percent. The company had $3.62 billion of cash and cash equivalents and $0.75 billion in restricted cash targeted for dividends.
Outlook
Total production for the first quarter of 2013 is expected to be 1,580 to 1,600 MBOED, including production from discontinued operations of approximately 40 MBOED. Full-year 2013 production from continuing operations is expected to be 1,475 to 1,525 MBOED.
In addition to $2.1 billion in proceeds from asset dispositions completed in 2012, the company has announced asset sales that are expected to close by mid-2013, generating additional proceeds of approximately $9.6 billion. The company continues to evaluate opportunities to further optimize the portfolio.
ConocoPhillips will hold its annual analyst meeting on Feb. 28 in New York. Representatives from company management will discuss the company’s strategic plans for growth and value creation.

My brain just......

 

[Shadowrider]

My brain just......

Well pick up your brains and put them back in. You'll need them to understand this:

CUPERTINO, California-January 23, 2013-Apple® today announced financial results for its 13-week fiscal 2013 first quarter ended December 29, 2012. The Company posted record quarterly revenue of $54.5 billion and record quarterly net profit of $13.1 billion, or $13.81 per diluted share. These results compare to revenue of $46.3 billion and net profit of $13.1 billion, or $13.87 per diluted share, in the 14-week year-ago quarter. Gross margin was 38.6 percent compared to 44.7 percent in the year-ago quarter. International sales accounted for 61 percent of the quarter’s revenue.

Where's all the rage on Apple's obscene profits? Conoco's $1.16 per share vs. $13.81 for Apple. All of big oil's pale in comparison...

 

[dennishoddy]

Well pick up your brains and put them back in. You'll need them to understand this:

[/U][/B]

Where's all the rage on Apple's obscene profits? Conoco's $1.16 per share vs. $13.81 for Apple. All of big oil's pale in comparison...

My point in posting this. I was waiting on somebody that understood how little oil company's actually make. The numbers look big, but the company's don't realize the profits that tech companies do.

Maybe we should ban cell phones?

Especially the ugly black ones?

 

[cichlid-dave]

This is where I track oil

http://www.oklahomacitygasprices.com/retail_price_chart.aspx

 

[Shadowrider]

My point in posting this. I was waiting on somebody that understood how little oil company's actually make. The numbers look big, but the company's don't realize the profits that tech companies do.

Maybe we should ban cell phones?

Especially the ugly black ones?

I know right? If you take a look back over a number of years, big oil makes in the neighborhood of 7% to 9% profit per year. It fluctuates some but averages in that range. Meanwhile almost every other industry is far greater. If Microsoft & Apple clear 25% they've had a really crappy year, but if big oil makes 10% they are breaking it off in us. And we won't even talk about the billions and billions in cash MS & APL have parked offshore to keep from paying taxes. The hypocrisy is what makes my head

 

[KF5MFI]

Seems the prices were lower before the election..... Seem a little higher now.

 

[ki4ppg]

I had to make a fast trip back to NC tuesday returned friday ....diesel priced between raleigh and the beach are 4 to 4.07...comong back across i40 in NC they were as high as 4.20...even though still high glad to be back in OK