Oil Price Per BBL

[Shadowrider]

Sandridge is a shining example of why I feel the way I do about oil and gas companies. They were circling the drain before the oil prices tanked and Tom Ward is looking at his golden parachute and laughing all the way to the bank.

Meanwhile the insiders at CHK have been backing up the truck.

 

[1krr]

Meanwhile the insiders at CHK have been backing up the truck.

For sure. SD was just CHKs annoying little brother waiting for an intervention. Devon is just the borg cube waiting for civilizations to assimilate. If I had to root for any of them it would be CLR. Plus Hamm knows how to party!

 

[dennishoddy]

The price of oil is the entire deal right now. Wall Street just kills me, they are such friggin lemmings. The financial analysts state a little blurb and everybody goes ape **** without any logical thought whatsoever. I just bought more CLR last week or late the week before. It dropped 21% in a single trading session so I jumped. I dropped another 11% early the next week but has rebounded some. It will get better, it's just a matter of when. For those in the business, we know this is the down part of the year anyway but the Saudis sure threw a rock at us and they know it. Anybody got a nuke to throw on mecca? Or a leader with a clue and an actual energy policy?

LOL, Wife was going to sell at the historical high, but some of the talking heads kept saying SLB would head to the $170 area, just about 3 months ago, so she held on. Oil did get blindsided by OPEC.

 

[turkeyrun]

Haliburton laid off 800 Friday. I'm thinking, and hoping I'm wrong, its gonna get BAD.

Gas $2.17 here this morning, but diesel is still $3.23????????????????????????

 

[Okie4570]

My wife saw diesel for $2.66 in Okarche today, unleaded for $1.96 somewhere in OKC. Diesel $2.99 and unleaded $2.05 up here. CNG hasn't budged a penny..............when will it start to fall?

 

[1krr]

I don't know if CNG falls. It's a very different market than oil plus winter time heating should hold it. I saw OPEC say they aren't scared of $40 oil. I think is springtime comes and we are at current oil prices, it will hurt the US. Russia will be done for a while and Putin's military build up gets punted.

http://money.cnn.com/2014/12/14/news/economy/opec-oil-price/

 

[Shadowrider]

LOL, Wife was going to sell at the historical high, but some of the talking heads kept saying SLB would head to the $170 area, just about 3 months ago, so she held on. Oil did get blindsided by OPEC.

Actually it was right at $180 a few months back, but they did a 2 for 1 split. Selling was a good idea in hindsight, I wish I had, because I'd put every penny right back in right now. But NOBODY saw this coming, there was and is no reason for it. Hamm says he can make money at $50 oil. Based on his track record I'll take his word over the lemmings.

 

[1krr]

You know, disagree about oil and gas as though we do, if one of you dudes gets laid off by one of these damn companies and wants to do something different, I'm happy to help get you into another field in any way I can.

 

[Shadowrider]

I don't know if CNG falls. It's a very different market than oil plus winter time heating should hold it. I saw OPEC say they aren't scared of $40 oil. I think is springtime comes and we are at current oil prices, it will hurt the US. Russia will be done for a while and Putin's military build up gets punted.

http://money.cnn.com/2014/12/14/news/economy/opec-oil-price/

Yep. NG and oil once were joined at the hip, but I think those days are history.

 

[dennishoddy]

Actually it was right at $180 a few months back, but they did a 2 for 1 split. Selling was a good idea in hindsight, I wish I had, because I'd put every penny right back in right now. But NOBODY saw this coming, there was and is no reason for it. Hamm says he can make money at $50 oil. Based on his track record I'll take his word over the lemmings.

Hell ya. She is dumping everything into it now. She caught the split, but it was headed back up again before the bust.

When it was Smith, and I worked there in the 80's, it went from $80 to $2.25, partly because of a law suit and the market busted. Dammed near went poor dumping money into it. Sure paid off in the long run. Lots of money to be made playing these cycles.