West Feliciana Parish

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West Feliciana Parish

Join the discussion in this group on topics directly related to TMS & Austin Chalk in West Feliciana parish.  Ask questions, share knowledge, & provide updates/info on wells, leases, etc.

Location: West Feliciana, St. Francisville, LA
Members: 58
Latest Activity: Jan 20

Discussion Forum

CRK TMS UNITS IN SW MOUNT COMMON CHURCH AND NE SPILLMAN FIELDS

Started by Skip Peel - Independent Landman. Last reply by William C. Morrison Apr 9, 2015. 1 Reply

CRK SOUTHWEST MOUNT COMMON CHURCH FIELD  TMS RA SUA 927 ACRES…Continue

GDP SLC INC 18H #1

Started by Skip Peel - Independent Landman. Last reply by Skip Peel - Independent Landman Sep 11, 2014. 58 Replies

This discussion is continued from the Tuscaloosa Marine Shale Group.…Continue

HK TMS RA SUA;WALKER H #1

Started by Skip Peel - Independent Landman. Last reply by Jeff Plauche Aug 15, 2014. 3 Replies

This discussion is continued from the Tuscaloosa Marine Shale Group.…Continue

SPILLMAN & NE SPILLMAN TMS UNITS

Started by Skip Peel - Independent Landman. Last reply by Curious George Aug 7, 2014. 5 Replies

ECA SPILLMAN TMS RA SUA & SUB (995 ACRES EA) …Continue

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Comment by William C. Morrison on January 20, 2016 at 9:58am

And oil keeps tumbling down taking the NYSE with it.  Seems that we ain't reached bottom yet.  Don't think it will hit zero like the Federal Reserve rates did but I guess it will get close.  Gas here in Fort Worth area is already at less than a buck and half a gallon. With grocery store points I was able to get gas at ninety cents a gallon the other day.  When oil stabilizes I will return to the stock market.  Buying opportunities will arise.

Comment by RGV AG on January 16, 2016 at 12:06am

For the last several years it is assumed and basically known that quite a bit of Iranian oil is being sold on the open market via Iraq and Kurdistan.  Thus, when the official Iranian oil hits the market the total volume is not going to increase by quite the amount that is being bandied about in the media as much of the oil is already on the market. 

No doubt the Saudi's are pissed at and want a pound of flesh from the Iranians, but in the end it seems that Iraq might lean a little more to the Persian side than the Arab side and things might get real interesting in the part of the world, more so than they are now.  It might sound like heresy but over the course of history the Persians have proven smarter and more civilized than the Arabs.  I would have to put my money on a Iran-Iraq partnership over the Saudi's. 

Comment by Joe Aldridge on January 15, 2016 at 12:47pm

Hey Guys,

I said that the price would go to thirty or below 2 or 3 months ago. As Chip points out Iran's oil has yet to hit the market. I'm sad to say the price could go to 20 or below. It seems the Saudis now want to price the oil as low as they can to penalize the Iranians as much as they can when they start selling their stockpiled oil.

First it was the Shalers and Russians  that had a target on their backs now its the Iranians. When you are sitting on an ocean of oil no one can compete.

Comment by Skip Peel - Independent Landman on January 15, 2016 at 12:09pm

All operators, as far as I am aware, sell their crude at some discount to the posted price.  Many are now receiving less than $30/barrel.

Comment by Seeing Wells! on January 15, 2016 at 11:53am

Hi William. I thought I read a couple of days ago that the price was officially under $30/barrel. Sad news for us, I suppose. Especially since the best price I've seen on a gallon of gas was $1.58 a few days ago in Baton Rouge. Someone is making a lot money. It's not us.
But tomorrow is definitely another day. :-)

Comment by William C. Morrison on January 15, 2016 at 11:37am

Well Iran has yet to hit the market with their oil and the price is already nearing or busting 30 bucks a barrel.  Goodyear was delisted from the NYSE and is now an OTC stock.  China stock market is dropping like a rock.  And the NYSE is not far behind.  We have already passed the so called "correction" point and may be heading further down.  So in general the oil patch is hurting and soon all of us will be hurting.  But the price of gas is cheap and that could help a lot of people especially the truckers and airlines.  We have to just keep on keeping on! 

Comment by William C. Morrison on December 22, 2015 at 6:17am

I saw a map yesterday of where the super tankers are now anchored waiting to off load oil  They are all around the Gulf Coast from Houston to New Orleans.  I guess they can tie up to an old oil rig and just sit there until its their turn for the port.  I hope a winter storm does not roll in and cause problems for them.

About the Majors.  I have a few shares of XOM, and buy a couple now and then via DRIP.  Pays a good dividend.  I started buying it in the mid 1990s and have amassed 230 plus shares.  It split a couple of times in route to today.  XOM is a well run company.  I would shy away from
BP and might buy Chevron but that would be about it.

Merry Christmas and a Happy New Year to all.

Comment by Joe Aldridge on December 21, 2015 at 1:34pm

I don't see how its going to help. It just adds more inventory to the world supply.

If I were buying I would consider buying any and all of the Majors. However, they may go cheaper though. The price of oil will probably go to 20 or so before this turns around. That is unless something major happens in the Mid-East to disrupt supply.

Hope you guys have a good Christmas.

Joe

Comment by William C. Morrison on December 21, 2015 at 11:37am

Hey, Joe.  I read where the lifting of the crude oil embargo will help Texas and the Permian Basin.  Do you think that is true?  Wall Street seems to think the low oil prices hurt rather than help the industry overall.  All the oil company big board stocks are down, I am thinking of buying some more XOM at these depressed prices.

Comment by Joe Aldridge on December 13, 2015 at 3:40pm

Chip,

I agree with you. I said I thought that the price of oil would go below $30 a couple of months ago. That was when the deal with Iran was signed. I would not be surprised if we went below $25 when Iran kicks their production in. Its going to be a long time before prices return to the $65 range unless something really bad happens in the Mid-East. Something that would take out the entire region. With some of the characters that have taken control in the area who knows. Time will tell. 

 

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