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Energy Sector Compendium

Get2choppaaa

Orthodox
Heritage
Looking to get a thread going for both US and global Energy information. MODS please place in different subsection if this is the incorrect one for my goal.


Currently I work supply chain/Logistics in Upstream drilling for O&G and spend a good bit of time with the Permian Basin and Eagle Ford Shale areas.

In 2023:

ExxonMobil bought Pioneer
Chevron bought Hess
Occidental (OXY) bought Crown Rock(Warren buffet then bought a boatload of OXY stock)


For those who don't know... The US is a leading producer of crude oil beating KSA.

From the article:
"Not only is the U.S. producing more oil than any country in history, but the amount of oil (crude oil, refined products and natural gas liquids) that it is exporting is near the total production of Saudi Arabia or Russia," Jim Burkhard, Vice President and Head of Research for Oil Markets, Energy and Mobility, at S&P Global Commodity Insights, said in research cited by Forbes"

Biden is hostile to the energy sector ... But demand and inertia can only be stuffed so much.

Exxon and Chevron had record 2022 years and decent 2023... So in spite of solar windmill green plague cow fart regulating madness... The US oil market is still doing well with greater efficiency.

Overall wells is down and will remain down...but tech advancements will keep production high for the as long as it's needed.

I will post EIA.Gov analysis and insight as I gain it. This is meant to cover electric/solar/wind/hydrocarbons and not just simply the SuperMajors in O&G.
 
Interesting. I'm returning to school to finish a degree on the King's dime after getting out of the Canadian military. Concentrating on Latin American Studies and Economics, with a focus on the energy and mining sectors in that area. I'm hashing out some preliminary plans for some boots-on-the-ground exploration and study there if I can secure sufficient funds. Hopefully I'll be able to contribute regularly to this thread as my studies and travels progress...
 
Interesting. I'm returning to school to finish a degree on the King's dime after getting out of the Canadian military. Concentrating on Latin American Studies and Economics, with a focus on the energy and mining sectors in that area. I'm hashing out some preliminary plans for some boots-on-the-ground exploration and study there if I can secure sufficient funds. Hopefully I'll be able to contribute regularly to this thread as my studies and travels progress...
There a heavy focus in Canada with O&G and minerals with Imperial Oil as well as other SuperMajors activity. My current firm...which shall remain nameless... Has a large footprint in Canada.

If you don't mind me asking... Why latin American studies if you're looking to work in the Oil Patch?
 
There a heavy focus in Canada with O&G and minerals with Imperial Oil as well as other SuperMajors activity. My current firm...which shall remain nameless... Has a large footprint in Canada.

If you don't mind me asking... Why latin American studies if you're looking to work in the Oil Patch?
I'm not actually looking to work in the Oil Patch. Latin America has always been my main area of interest in the world, hence my username and pic (Fransisco Pizarro). And my interest lies more with the mining sector than with the oil and gas sector per se. I terms of the 'energy sector' I'm quite interested in the whole 'white gold' lithium economy and how it will all pan out, particularly in South America, which has a stupid amount of the stuff in the Chile/Bolivia/Argentina 'Lithium Triangle', as I'm sure you know.
 
And this is even with the entire energy sector wearing the heavy chains of Marxist regulations. Impressive. I wonder if the US is using more or if it's going to exports.
A large part is that 2022 and 2023 have shown energy security is a national security component.

LNG projection and demand is expected to increase over the next several decades.

Exxons 2030/2050 shareholder projection is worth a look on breakdown... I'll find it and post a link sometime.
 
^interesting. Rig counts down as outyear volume projections are up. All the new extraction tech is producing some super-wells, making it inefficient to operate a low-volume well? If I understand the fracking tweet above, they have found ways to re-fracc boreholes that have played out the first frac. If the given field is productive enough, that method turns each fracc-well into a mini SPR supplement, with undetermined re-fraccing opportunities. And they likely avoid much of the new borehole overhead and permitting. What a boon.

Is this part of the SPR drawdown logic? If such super-wells are producing high volume throughput, then DOE can buy contracts for delivery at low spots in price, knowing they have storage available at the SPR facilities.

Pretty classic production/transportation/storage problem for any manufacturing operation. Keep a little space on the up-side and down-side of each leg. Nobody loses service at peak demand, none of the 3 legs of delivery have to shut down at bottom demand.
 
A power outage has caused the largest refinery in the Midwest to shut down. No details yet on what caused the power outage. BP's refinery in Whiting, Indiana:


Quite a scene - flaring off all the natural gas to keep things from exploding, I suppose. Refineries are such massive, complex operations. These are the things I can see having massive troubles in the future, with the looming baby boomer expertise retiring. Whether or not this was caused by specific incompetence, it is old hands and young muscles that save the day in such troubles. You need them both.

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The following article from Palladium magazine, dated July 1, 2023 is an excellent summary of the complex system decline in the US:


I believe it was posted previously in RVF2, but merits mention here.

Thje article closes with:

"The path of least resistance will be the devolution of complex systems and the reduction in the quality of life that entails. For the typical resident in a second-tier city in Mexico, Brazil, or South Africa, power outages are not uncommon, tap water is probably not safe to drink, and hospital-associated infections are common and often fatal. Absent a step change in the quality of American governance and a renewed culture of excellence, they prefigure the country’s future."

This article could be posted in any of the "inexorable decline of..." or "destabilization of..." threads as well.
 
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Apparently, Russian scientists have discovered massive oil deposits in Britain's claimed zone in Antarctica. They estimate it to contain approximately 511 billion barrels of oil, around 10 times the North Sea's output over the last 50 years.
Time to rewrite the 1959 Antarctic treaty???

 
I invested big in energy firms years ago. It hasn't turned out to be a particularly good investment.
Energy companies sound great--everyone needs energy, we can't really control our consumption of it very much, and must take whatever prices they give us, there is little competition, high barriers to entry, and the prices of energy continue to skyrocket. Sounds like a recipe for success but the results have been rather mediocre:

That said, it's a good, stable career choice.




Fund ReturnNatural Resource FundsIndex (S&P 500)

10yr3.15%-0.87%12.83%
 
I invested big in energy firms years ago. It hasn't turned out to be a particularly good investment.
Energy companies sound great--everyone needs energy, we can't really control our consumption of it very much, and must take whatever prices they give us, there is little competition, high barriers to entry, and the prices of energy continue to skyrocket. Sounds like a recipe for success but the results have been rather mediocre:

That said, it's a good, stable career choice.




Fund ReturnNatural Resource FundsIndex (S&P 500)

10yr3.15%-0.87%12.83%


XOM and CVX stock is doing pretty well last couple of years. ... So are some of the other major oil and gas stocks.

Oil service companies are doing ok too. Lots of activities with SLB rebrand and purchase firms like ChampionX

Yes a shitload of money can be made... But you can also get laid off quickly too. Been on both sides of the spectrum.

For my experiences... At 35... I'm making money most people won't see ever or until their at the late stage of their career... As a middle manager I got laid off with about 5 other managers at my publicly traded firm when they decided to sell our division at begining of the year and got roughly 5 months pay, then turned around 2 months later and got a job at a bigger firm making 1.5x previous salary.

So while volatile, it's a great career field...but you gotta be willing to get ground down pretty hard to get the higher salaries.

It can be kind of hard to enter on the corporate side... But not impossible.
 
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