Big Oil

[DMX7]

It was a bad deal for oil companies especially Shell. It announced the layoff of 6500. I'm interested in how the possible Iran deal with affect oil prices.

[SpursforSix]

It was a bad deal for oil companies especially Shell. It announced the layoff of 6500. I'm interested in how the possible Iran deal with affect oil prices.

Short term, it should drive them down. Long term, it will result in layoffs and a decrease in exploration and development. So when shit hits the fan again in the ME or there is some world economic growth, the industry will be slow to gear up and prices will go through the roof again.

[CosmicCowboy]

Short term, it should drive them down. Long term, it will result in layoffs and a decrease in exploration and development. So when shit hits the fan again in the ME or there is some world economic growth, the industry will be slow to gear up and prices will go through the roof again.

This. Extended $40 oil will kill the infrastructure for shale gas/oil in the US and bankrupt hundreds if not thousands of companies. The boom was all done with huge amounts of borrowed money betting on the future revenue from the newly discovered and produced oil/gas wells. As their hundreds of billions of bonds default the financial markets will take a shit again like in 2008.

[boutons_deux]

SAN ANTONIO — Contract driller Pioneer Energy Services reported a net loss in the second quarter of $77.3 million, or a loss of $1.20 per share, compared to a net loss of $300,000, or 1 cent per share, for theyear-earlier period (http://www.expressnews.com/business/eagle-ford-energy/article/Pioneer-records-loss-5661276.php).

http://fuelfix.com/blog/2015/07/30/pioneer-energy-reports-quarterly-loss/

otoh

Cheaper Crude Doubled Valero Refining Income


http://247wallst.com/energy-business/2015/07/30/cheaper-crude-doubled-valero-refining-income/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+typepad%2FRyNm+%2824%2F7+Wall +St.%29

[boutons_deux]

After BP Results, Big Oil Earnings Prospects at Oxy, Exxon, Chevron, Valero

http://247wallst.com/energy-business/2015/07/28/after-bp-results-big-oil-earnings-prospects-at-oxy-exxon-chevron/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+typepad%2FRyNm+%2824%2F7+Wall +St.%29

so what the price of oil gallon at a fracking well head?