WTI crude oil to hit $70 in 2018?? above?

[raider]

Drilling , production , transportation and the whole smear. I know it varies but What are the claims in price per Barrel where a well breaks even ?

breakeven anywhere from $17 per b in mclean and mountrail counties to 100+ off in the fringe areas... this is from Q3 of last year...

 

[fj40]

McLean? They got coal, not oil.

 

[Marbleyes]

McLean? They got coal, not oil.

McLean absolutely has oil. Remember McLean runs north of sakakawea and some of the tribal land is within McLean.

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Anything above $50 is good. At $65 we are shitting in high cotton, currently Trump is THE man !!

I’m curious what exactly you think trump has to do with the price of oil? Or any president for that matter. Outside of geopolitical shit, presidents have minimal effect on oil prices. I noticed 6 people gave your comment a thumbs up, so I have the same question for those that gave this comment a thumbs up, what exactly do you think trump has to do with the price of oil?

 

[johnr]

Regulation, futures, general pulse of the market are some factors that are associated with the commander in chief. Business is optimistic when the leader is in their corner. It effects all aspects of ups and downs in all markets.
I am no longer waking up each morning to a fresh shit sammich, and it feels good

 

[Wildyote]

McLean doesn't have that many wells compared to McKenzie, Williams, Mountrail, and Dunn. It is right on the edge of the field. I don't think we will ever see and massive amounts of rigs again which is good. The communities couldn't handle 200+ rigs and it sucks living or recreating around that circus. When boom started it took 4-6 weeks to complete drilling now it takes 10-14 days. There is no more tying up spacing and multi-well pads are the norm which up to 12 wells get completed on a pad. The state needs stability in the oil industry not boom and bust. Some say the state overspent and I don't think they collected enough tax for what they had to spend in infrastructure which includes roads, schools, utilities, law enforcement, regulatory staff, county staff, and ect. Oh and we had to build a new jail in every county seat from highway 83 west plus spend $50,000 per inmate a year for every thug that came from out of state to make a quick buck.

 

[Fishmission]

Regulation, futures, general pulse of the market are some factors that are associated with the commander in chief. Business is optimistic when the leader is in their corner. It effects all aspects of ups and downs in all markets.
I am no longer waking up each morning to a fresh shit sammich, and it feels good

Bravo, Bravo!

 

[Marbleyes]

Regulation, futures, general pulse of the market are some factors that are associated with the commander in chief. Business is optimistic when the leader is in their corner. It effects all aspects of ups and downs in all markets.
I am no longer waking up each morning to a fresh shit sammich, and it feels good

Commodities like oil are still global markets, which obviously means the commodity price is effected by global economies, not just the U.S. Since global economies are good and the outlook for major global markets is so good, the futures prices are up. In other words, supply and demand drive oil prices along with other commodities, much more than anything else, except maybe some temporary geopolitical stuff. Every major country’s economies are so intertwined with one another. If the president had the kind of effect people claim, then why does WTI pricing tend to follow Brent Crude pricing? Same goes for coal, why do you think trump hasn’t been able to bring the coal industry back like he claimed he would? Supply and demand is why. He could get rid of all regulations but if the demand isn’t there the companies won’t just waste their money.

 

[Rizzo]

Dude you should go debate with GST, he's into that kind of thing.

 

[Fisherman25]

Commodities like oil are still global markets, which obviously means the commodity price is effected by global economies, not just the U.S. Since global economies are good and the outlook for major global markets is so good, the futures prices are up. In other words, supply and demand drive oil prices along with other commodities, much more than anything else, except maybe some temporary geopolitical stuff. Every major country’s economies are so intertwined with one another. If the president had the kind of effect people claim, then why does WTI pricing tend to follow Brent Crude pricing? Same goes for coal, why do you think trump hasn’t been able to bring the coal industry back like he claimed he would? Supply and demand is why. He could get rid of all regulations but if the demand isn’t there the companies won’t just waste their money.

You don’t think a 20% flat tax makes a difference for these companies? The regulations the obama administration was putting on oil companies on the environmental front was getting very expensive. There were a lot coming down the pipe that would have increased operating cost a lot. Fortunately, that’s been out to a stop. They also add a lot of red tape to the midstream side of the business which adds to cost as well. So yes, the party in office makes a difference, maybe not in the price per barrel, but the cost to produce it.

 

[eyexer]

You don’t think a 20% flat tax makes a difference for these companies? The regulations the obama administration was putting on oil companies on the environmental front was getting very expensive. There were a lot coming down the pipe that would have increased operating cost a lot. Fortunately, that’s been out to a stop. They also add a lot of red tape to the midstream side of the business which adds to cost as well. So yes, the party in office makes a difference, maybe not in the price per barrel, but the cost to produce it.

exactly this. the president can directly affect a companies bottom line. So they can be profitable even at low market prices. It's all about profit per barrel not so much the price per barrel. The newest EPA regs has stuck it to the oil companies in a huge way.

 

[Marbleyes]

You don’t think a 20% flat tax makes a difference for these companies? The regulations the obama administration was putting on oil companies on the environmental front was getting very expensive. There were a lot coming down the pipe that would have increased operating cost a lot. Fortunately, that’s been out to a stop. They also add a lot of red tape to the midstream side of the business which adds to cost as well. So yes, the party in office makes a difference, maybe not in the price per barrel, but the cost to produce it.

I agree with your comment. I know what the EPA deregulated (no need for covering reserve pits etc.) and trump stopped some regulations from being enacted but world wide supply and demand are by far the biggest factors in the actual PRICE of oil, which is what this topic was about. I agree, Midstreams were subject to red tape galore but not all regulations are a bad thing.

You hit on my exact point with this comment “maybe not in the price per barrel, but the cost to produce it.”
I’m not sure how much the 21% corporate rate effects the direct taxes the oil companies pay since a lot of the big dogs payed less than 21% in federal tax before this current tax bill. On the other hand, the 21% corporate rates definately do have an effect on oil companies bottom line since the better the economy does, the more oil gets used. None of that changes my point though. The prices are rising right now because of opecs caps on production (as fake as they may be) and world wide economies being in good shape (using more oil and decreasing the insane oil glut in reserves).

This is from the EIA. There is a graph list which breaks it down: https://www.eia.gov/finance/markets/

Here is an article talking about taxes oil companies payed and it’s not even close to the 35% corporate rate:
https://www.usnews.com/opinion/econ...d-gas-company-corporate-tax-rates?context=amp

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exactly this. the president can directly affect a companies bottom line. So they can be profitable even at low market prices. It's all about profit per barrel not so much the price per barrel. The newest EPA regs has stuck it to the oil companies in a huge way.

I don’t think those new regulations ever came into effect. I believe trump signed an executive order to “trump” obamas executive order.

 

[cooter00]

60$ is the magic # in nd but they won't t start ramping up untill it stays above that # for 6 months straight will it stay up who knows but if it does you will see drilling rigs popping up everywhere once again untill then a few here and there but no steady action untill it's up for a couple months

 

[Migrator Man]

My office is across from the CP switchyard, and over the last month to a month and a half, there are quit a few more oil trains moving.

A lot of heavy crude from Canada has been moving down to the gulf because of the price differential similar to what was happening in here in ND. Let's see the protesters try to stop the numerous oil trains!

 

[Marbleyes]

Dude you should go debate with GST, he's into that kind of thing.

Trust me dude, I have. I just have a hard time biting my tongue when I know something isn’t accurate so I tend to speak up. I don’t care if what I say is popular or not. You may just want to click the ignite button on me. Sorry, but I’m not wired to just nod in agreement because it’s a popular thing to do.

 

[NodakBuckeye]

McLean absolutely has oil. Remember McLean runs north of sakakawea and some of the tribal land is within McLean.

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I’m curious what exactly you think trump has to do with the price of oil? Or any president for that matter. Outside of geopolitical shit, presidents have minimal effect on oil prices. I noticed 6 people gave your comment a thumbs up, so I have the same question for those that gave this comment a thumbs up, what exactly do you think trump has to do with the price of oil?

Simply making it easier, i.e., less costly to do business. Take a drive around West Virginia and see what 8 years of Obama and hard left environmental policy has done to coal. They have been nickeled and dimed to death. They aim to do the same with gas and oil, simply make it less and less economical to produce through legislation, fines, taxes and turn public opinion against as well.

I can see 75-80 rigs by year end, assuming the gradual but steady climb in price continues.

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Regulation, futures, general pulse of the market are some factors that are associated with the commander in chief. Business is optimistic when the leader is in their corner. It effects all aspects of ups and downs in all markets.
I am no longer waking up each morning to a fresh shit sammich, and it feels good

Yup

 

[Marbleyes]

Nodakbuckeye, I guess I wasn’t clear enough but you are talking about a companies profitability and I was asking about how the president affects the price per barrel. Those are two completely different things.

Here is a chart showing the price swings and why they swung in the last 155 years. Look at the swings and the reasons for them, supply and demand and geopolitical reasons.

http://www.businessinsider.com/timeline-155-year-history-of-oil-prices-2016-12

As far as your reason for the coal decline, here is an article from a conservative think tank (there are many others as well) that shares why they believe coal has declined (for those who don’t want to read, they say it’s because of how much cheaper natural gas is). This articles explanation is what I have heard from people within various energy groups (utilities, co-ops, coal and oil and gas) for about a decade now.

http://www.aei.org/publication/the-real-cause-of-coals-collapse/

 

[Reprobait]

$60 oil is a good money maker for the State of ND. While above that might be good for the State it is NOT good for my pocket book! I would rather have money in my pocket book :;:exactly rather than the State of ND as they just seem to waste it once they get it, typical government! ;:;banghead

More money out of my wallet. I fail to see why I should be happy to pay over $3 a gallon for gas this summer.

 

[shorthairsrus]

Can we at least flare and warm this place up

 

[eyexer]

I agree with your comment. I know what the EPA deregulated (no need for covering reserve pits etc.) and trump stopped some regulations from being enacted but world wide supply and demand are by far the biggest factors in the actual PRICE of oil, which is what this topic was about. I agree, Midstreams were subject to red tape galore but not all regulations are a bad thing.

You hit on my exact point with this comment “maybe not in the price per barrel, but the cost to produce it.”
I’m not sure how much the 21% corporate rate effects the direct taxes the oil companies pay since a lot of the big dogs payed less than 21% in federal tax before this current tax bill. On the other hand, the 21% corporate rates definately do have an effect on oil companies bottom line since the better the economy does, the more oil gets used. None of that changes my point though. The prices are rising right now because of opecs caps on production (as fake as they may be) and world wide economies being in good shape (using more oil and decreasing the insane oil glut in reserves).

This is from the EIA. There is a graph list which breaks it down: https://www.eia.gov/finance/markets/

Here is an article talking about taxes oil companies payed and it’s not even close to the 35% corporate rate:
https://www.usnews.com/opinion/econ...d-gas-company-corporate-tax-rates?context=amp

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I don’t think those new regulations ever came into effect. I believe trump signed an executive order to “trump” obamas executive order.

There were some that did. One particular one were releasing vapors. We spent two million alone just replacing tank lid seals. Had to hire several full time people and infrared cameras and do monthly inspections. Costs us a couple million a year I would guess. That's just one.

 

[dean nelson]

Would love to hear more about McLean County being a big oil County considering the fact that where this red dot Is is where my mineral rights are just off the end of deep water and are currently unleased. Sure it touches the far north west tip of the county but she is the definition of a fringe area not main play ....but feel free to punch holes in my ground any time.