Reply With Quote
Those ers pump forever.
Gotta love pumping strippers.
Big party back in the 70's when the SACROC field pumped it's 1 billionth barrel of oil. We painted a pumpjack gold.
Those ers pump forever.
Gotta love pumping strippers.
Seems like it. I think my point was that in many cases, the majors use these fields as a way to pump up reserves and stock prices and the recoverable reserves are rarely as big as first projected.
But whatever. The more holes that can put in the ground, the better for the U.S. energy situation. But it does make it tougher for the small independents to raise money to develop "traditional" plays.
Holy ! TB is about to be a 1%er!
Need to bump that estate tax up to about 90% to ensure he doesn't see too much of it.
Hey TeyshaBlue, I know that we have generally had a mutual respect for each other, but please let me be the first to give you a preemptive " YOU ASSHOLE" upon hearing this news.
More than a bit of an exaggeration.
Not cozy, but certainly not extremely obstructive.
I just wonder, when do we "go dry", or at least go close enough to dry that normal folks can't afford oil? 2080? 2180? Just curious.
Good. Maybe it will attract some of the ing morons in the industry and they will all go there, leaving me to deal with a more competent class of human being in the Eagle Ford, then the usual dumb s I have to deal with on a regular basis.
There are stories about land owners taking the money and moving away since the 24x7 rape of their land renders it unlivable, plus the nearby landowners who don't have drilling see their property values drop. Then there there is huge tax burden on low-population rural counties having to rebuild destroyed roads, and some govt's are wary of the home/rental building boom knowing the boom will end and the buildings will be worthless and eye sores. They've seen it all before.
Don't sell. Rent it out. If the shortage is as acute as they are saying, the rental demand will be more than enough to pay any new mortgage they acquire.
I very, very, very strongly recommend this.
If they want to sell at some point in the future, and it is developing as the article says, they can always kick any tenant out and sell it to lock in value, but renting it would provide a huge boost to cash flows.
Don't take my word for it, spend a bit of money to talk to a financial adviser and outline the issues to them.
PM if you want to know more, or ask questions. Wife was apartment manager, and I did the books for about a decade or so, so I am pretty familiar with the topic.
Anyone here work on an oil rig or know the process to get hired...
I don't know about this. You're gambling that the play is as good as they say and housing demand will continue to be strong. If the money is right, they should take it and run IMO. There are plenty of stories about landowners holding out for more money only to have all offers pulled off the table when the play doesn't pan out.
My nephew works for a frac outfit making stupid money and he is dumb as a ing brick.
I've already lost more than I've made. I suck at self-reliance.Need to bump that estate tax up to about 90% to ensure he doesn't see too much of it.
Ok, so you have nothing. Stories.
I've got stories of oil companies rebuilding roads and via taxes, schools. Humble oil built an entire community of homes and schools in my neck of the woods.
The boom/bust cycle is nothing new to West Texas....we've seen it before and we'll see it again. On balance, it works.
so all we know now is that the apple doesn't fall far from the family tree. what was the point CC?
I own rental properties now. The last thing I want to do is be a long distance land-lord!
especially for oilfield trash that will tear up and leave poop in the gutters and chimney
lol...I aint gonna make a penny off this short term. It will be the basis of my retirement, hopefully.
not if Obama has his way with you
THATS WHAT I AM TALKING ABOUT! How did he get his start? I am told that in North Dakota you drive up there, sleep in your car & apply for any outfit...
Cost of doing business to take that risk. Price accordingly, and ask for substantial damage deposits.
If it gets really bad, that is what insurance is for. Let their lawyers get recovery from the previous tenant.
Case closed.
just answered an ad in the newspaper. He had no prior experience. They paid him for a couple of months while they trained him.
Last edited by TeyshaBlue; 11-30-2012 at 05:20 PM.
There are currently 1 users browsing this thread. (0 members and 1 guests)
Posting Permissions
