Photograph via snooOG

Oil, gas, seismic science, engineering, and cool pictures of rigs. Everything you need to know about exploration, recoverable assets and pipelines.

Oil, gas, seismic science, engineering, and cool pictures of rigs. Everything you need to know about exploration, recoverable assets and pipelines.

This is the place to be when you want to know what's going on with the stuff that keeps the world turning and how it works.

Checkout /r/oilandgasworkers for more conversations

Lazy speculation posts are rule breaking offenses. Speculation is welcome in the comments of newsworthy posts or in the weekly general discussion and speculation post. Of course market changing news is worthy of it's own post but posts like "What do you think prices will look like in a month" is considered rule breaking.

No editorialized titles. Post title needs to match source title. Leave the comments for editorialization. Source must be included in post.

No non-market changing oil politics. Memes can be removed at mod's discretion.

Crude hydrocarbons only. No snake oil. No weed oil. No makeup oil. No cooking oil. No "relationship" oil. No car oil.


19,088 Subscribers


Offshore Rigs

A recent development within my company has lead to the option to relocate temporarily to Texas and I am wondering if any of yall would know what the general living conditions are like. Such as, sleeping arrangements, bathroom situation, food quality, weight rooms, ect.My current job I'd pretty cushy in terms of these things so it is a factor on my decision.

15:17 UTC


Currently in Propane but open to exploring other energy. How do y’all feel about other energy fields?

Hey everyone, I am 22 year old who currently works with a large national propane company. I started here when I was 21 and have been here for a little under a year. I was brought on here through a management program that showed me all of the separate departments in the company and trained me in everything from sales to operations. Currently I am in the role of a dispatcher, where I manage 30 drivers and build their routes everyday and manage our forecasting system. This was a great way to learn the industry and garnish experience but I am ready to start advancing into my career. I don’t want to be in logistics long term and believe I would like to jump into a national account manager or regional account manager role. I am really open to any role that involves meeting and maintaining relationships. My issue begins when discussing the propane industry. I feel as though in the next 10 to 15 years forklifts are going to be completely electric, and we will be stuck to only bulk and fleet accounts. I believe the strength of the propane industry I am curious about how y’all feel about the other energy fields. Oil, electric etc. If you work in energy or have any input please comment.

Thanks everyone!

1 Comment
14:04 UTC


Updated Oil Demand Levels

14:12 UTC


Why is oil price crashing?

All is in the title BTW how to interpret the ongoing crash in oil price?

19:18 UTC


Oil and gas asset valuation

09:12 UTC


Oil leases

Is there any companies out there that don’t require you to be a accredited investor? I wanna invest in oil wells but not the stock market. I think we are going to be in a oil crisis with this current administration. I would like to make 1000$ or a little more a month, I’m just looking for options, thanks

18:25 UTC


US Consumer Gas on the way to hitting November 2022 highs

04:49 UTC


What is a typical royalty percent for sublease of BLM oil lease operating rights?


We own some land in California. The BLM owns the mineral rights, but we own the the oil lease from them. The lease is about 80 years old, and was "assigned", or "subleased" to an oil company back then for 2% royalty on oil produced. Basically, the oil company pays the BLM something like 15% for the oil, and we are kind of middle-men as the actual lease owners and get 2% as well. The agreement basically goes forever, until the oil company stops producing oil on the land.

My question is: is 2% a fairly typical rate? If we owned the actual mineral rights, I imagine 20% might be more in line, but since the oil actually belongs to the BLM, and we just own the original lease, is 2% about right for a deal like that, or way, way low?


22:29 UTC


Oil distillation unit commissioning

Does anyone have a book or resource about commissioning an oil distillation unit

19:17 UTC


What price do y'all want oil at?

I prefer 85-90 wti

05:39 UTC


Stephen Kotkin Insights on the Impact of Sanctions on Russia

1 Comment
22:13 UTC


Cepa Deals to Drive UAE's Trade Growth, According to Experts

Analysts predict that the UAE's focus on diversifying its economy beyond oil exports will lead to a surge in trade this year. With a renewed focus on advanced manufacturing and creative industries, we can expect the Emirates to play a key role in shaping the global trade landscape.

14:30 UTC


Question about oil production data from different sources

Hello Everyone,

Justed wanted to ask why there is a significant difference in oil production data published in BP_statistical review (includes Crude, condensates and NGLs) and numbers from OPEC and EIA. Basically, BP numbers are below what majorit reports, E.g 2021 BP production number at 89 mbpd, compared to ~97 mbpd reported by others.

06:10 UTC


What Happens to the Russian Oil Industry?

23:10 UTC


Exxon Mobil Eyes Potential Megadeal With Shale Driller Pioneer

Oil-and-gas giant has held informal, early-stage talks to buy the $49 billion-market cap Pioneer Natural Resources


Exxon Mobil Corp. XOM has held preliminary talks with Pioneer Natural Resources Co. PXD about a possible acquisition of the U.S. fracking giant, as the oil major hunts for a blockbuster deal in the shale patch, according to people familiar with the matter.

Discussions between the two companies about a potential deal have been informal, the people said. But after posting record profits in 2022, Exxon is flush with cash and, according to people familiar with the company’s plans, has been exploring options that could reshape a swath of the U.S. oil-and-gas industry while pushing Exxon deeper into West Texas shale.

Exxon executives have discussed a potential tie-up with at least one other company, people familiar with the matter said. Some of the people cautioned there is no formal process between Exxon and Pioneer.

Any deal, if it happens, likely wouldn’t come together until later this year or next year, the people said, and talks may not morph into formal negotiations at all, or Exxon may pursue another company. But they said Exxon is on the hunt for a seismic deal to put its windfall profits to use and sees Dallas area-based Pioneer as a top target.

An acquisition of Pioneer, with a market cap of around $49 billion, would likely be Exxon’s largest since its megamerger with Mobil Corp. in 1999. It would give Exxon a dominant position in the oil-rich Permian Basin of West Texas and New Mexico, a region Exxon has said is integral to its growth plans.

Pioneer’s size would likely put an acquisition of the company ahead of the U.S. oil industry’s most recent blockbuster, Occidental Petroleum Corp.’s 2019 purchase of Anadarko Petroleum Corp. for about $38 billion, and top Exxon’s 2010 acquisition of XTO Energy Inc. for more than $30 billion.

The potential blockbuster would combine the largest Western oil company, more than 140 years old and valued at more than $468 billion, with a West Texas driller that holds vast reserves of oil in America’s most-coveted fracking hot spot.

Pioneer generated $8.4 billion in surplus cash last year and sent almost $8 billion of that to shareholders via dividends and share repurchases. Pioneer is also the largest oil producer in the Permian; Exxon, the sixth-largest, according to analytics firm Novi Labs.

Exxon has been on the prowl to make a purchase in the Permian for months, people familiar with the matter said. Its interest in doubling down on U.S. shale signals the Irving, Texas, oil giant may continue to tie its future fortunes to fossil fuels, possibly for decades.

Many Western oil companies are in retrenchment globally, and large European rivals including Shell PLC and BP PLC have grappled with how to balance their fossil-fuel output with spending on renewable and low-carbon energy over the longer term.

Exxon’s strategy to lean primarily on its oil-and-gas assets, including its big U.S. refineries, proved a lucrative one last year: It banked a historic profit of $55.7 billion, which made it one of America’s most prosperous companies in fiscal 2022. Oil and natural-gas prices surged to multiyear highs following the onset of Russia’s war in Ukraine.

At the same time, a move by Exxon to write a check for one of the biggest U.S. frackers would also show how its options for ensuring years of future oil-and-gas production have narrowed.

Oil companies of Exxon’s scale have struggled in recent years to convince shareholders they should plow into megaprojects with decadeslong life cycles, due to some investors’ concerns about an eventual decline in oil demand. Adding to that pressure, the Kremlin last year wiped out Exxon’s stake in a large oil-and-gas project in Russia’s Far East. It had taken a $3.4 billion accounting charge in the first quarter after declaring its plans to exit Russia.

Exxon has also ended a major drilling campaign in the deep waters of Brazil, after failing last year for a third time to find commercially viable amounts of oil, The Wall Street Journal reported this week, citing people familiar with the matter.

Exxon said it was still engaged in Brazil. But the move marked a major setback in a country it has promoted for years as a key source of growth.

The Permian has long been considered the domain of more nimble drillers that could exploit fast-declining shale wells quickly, while major oil companies traditionally have focused on more technically challenging projects. But the U.S. major oil companies have been attracted to the Permian for its ability to boost oil production quickly, which helps to offset declines in other parts of the world.

A large Permian deal could trigger a mergers race among oil companies in the region, according to investment bankers who expect more consolidation across the U.S. oil industry this year. A common refrain in the shale patch recently has been “everyone is talking to everyone” about deals.

Exxon’s positioning to purchase a smaller rival comes as its shares have outperformed most of the industry. It has made large purchases during those conditions before.

Pioneer has some of the best assets in the Permian, according to analysts. Exxon would gain access to a vast catalog of economic drilling locations Pioneer amassed through the acquisitions of Parsley Energy Inc. and DoublePoint Energy, two companies that had also drilled in the Permian, for a combined roughly $11 billion in 2021.

Pioneer’s predecessor company, Parker & Parsley Petroleum Co., was founded in the early 1960s by two West Texas wildcatters.

Pioneer’s chief executive, Scott Sheffield, began working at Parker & Parsley in 1979 and later became its CEO and chairman. Parker & Parsley merged with another oil producer to form Pioneer in 1997.

Mr. Sheffield retired in 2016 but returned to the CEO post in 2019.

Pioneer boasts a healthy balance sheet: Its total debt at the end of 2022 was down more than 26% from the end of 2021, according to FactSet. Its headquarters are a few miles away from Exxon’s.

Pioneer, which only has operations in the Permian, produced an average of about 650,000 barrels of oil equivalent a day there in 2022, about 100,000 more than Exxon produced in the region last year, according to company filings. Pioneer executives said that its recent acquisitions mean it sits on about 30 years of premium inventory.

06:40 UTC


[Report] THE 4 MAJOR US TIGHT OIL BASINS | The Permian, Eagle Ford, Williston and DJ-Niobrara

14:21 UTC


Analyzing OPEC's Surprise Production Cut with Rory Johnston

1 Comment
14:24 UTC


New Timelapse Map of Future Oil Production

03:10 UTC


Impact of OPEC+ Voluntary cuts on the oil markets with Anas Alhajji

1 Comment
22:43 UTC


They're Gonna Squeeze Us

13:35 UTC

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