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What is the opinion of Doug? Are people still drinking the Aubrey koolaid?Article I read said a little over 500 in OKC or 19% of the workforce there.
750 company wide for a total of 15%. They posted a $4.1 billion loss last quarter.
Did you also stay at a Holliday Inn?I have no idea. I just read an article.
was talking about this with a few oil pros last night...saying expect it to get worse, down to $25, 5 years to get it straightened out. Probably pretty close to being right. The Iran oil is going to push pricing down was one of their main concerns. An extra million barrels a day. The odds are much greater of it getting worse right now than better. Chesapeake was just the first domino. The majors are squeezing also trying to get the little guys out...they call Devon a little guy.
I think you're fairly on target. General expectations seem to be that oil will only rise $5/Bbl or so over the next couple of years. Unlikely to hit $90/Bbl again anytime in the near future. Natural gas has a more "positive" outlook if you ask me; all it takes is one cold winter, or one hot summer, to cause prices to rise.I don't think so. I believe we have bottomed. Oil will trade in a $40-$50 range through Q1 next year and then will start to rise. Many people are greatly underestimating the depletion rates of the shale plays. Rig count is down 60%, and US production has started to fall a little. Those production numbers will start dropping by a lot more over next 3 months.
Drill Baby, drill!!
"If you don't have an oil well, get one—you'll love doing business with Western!"
Also on this deal there are numerous companies that did business with Chesapeake like trucking companies that have had to lay off workers also. I hate it when the boom is over. I would rather pay 3.50 a gallon for gas and have these companies thriving then cheap gas. I know that wasn't what caused this problem but you hear people talk about how great the price of gas is.