/r/oil

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.

/r/oil

28,928 Subscribers

0

Trump likely to build on previous administration and expand oil and gas production

6 Comments
2024/11/04
12:26 UTC

0

Where are the major oil rigs in the US? Do they have wifi? Thinking about working in an oil rig. Anyone works in oil rig here?

27 Comments
2024/11/04
10:57 UTC

1

Has the market priced increase in oil costs

This is a sort of basic question, but with everything going on globally, has the market, for the most part, priced in a potential rise in oil?

Would calls on oil companies or oil futures be stupid?

7 Comments
2024/11/02
18:40 UTC

2

Jereh Signs Agreement for Iraq’s Mansuriya Gas Field

Jereh and Petro Iraq for Oilfield Development Co., Ltd. (Petro Iraq)had officially signed a development and production contract with Midland Oil Company of Iraq (MdOC) to jointly develop the Mansuriya gas field. This marks Jereh’s first venture as a developer in a major oil and gas project in the ME region.

https://www.saudigulfprojects.com/2024/11/jereh-signs-agreement-for-iraqs-mansuriya-gas-field/

0 Comments
2024/11/01
14:28 UTC

13

CONFIRMED: HALLIBURTON IS SELLING OFF MULTI-CHEM

Its factual. You will see news articles soon, Mark my words.

14 Comments
2024/10/29
22:38 UTC

8

Financial analysis of the oil and gas industry

Hello everyone! I want to start understanding the industry better and its dynamics, for example the rig lags, production capacity, how to value an upstream segment company For context: I am currently conducting an equity research on a drilling company how would you suggest I do that? Thank you so much!

17 Comments
2024/10/29
06:53 UTC

29

Substantial oil reserves discovered in Pakistan -- summary and potential implications

About a month ago, I read a piece on the discovery of large oil deposits in Pakistan's waters.

Quick summary of the same: Discovery of extensive natural gas and oil deposits in Pakistan's territorial waters could signify a major potential shift for Pakistan's energy landscape. Initial findings indicate that these reserves, located in the Indus Basin, could rank among the world’s largest, potentially positioning Pakistan with the fourth-largest deposit globally. This discovery, bolstered by the region’s tectonic activity between the Indian and Eurasian plates, which has created favorable conditions for hydrocarbon accumulation, may enable Pakistan to reshape its energy dynamics if the deposits prove commercially viable.

What does this mean from a geopolitical perspective? For Pakistan? For other countries? Lets assess below:

Pakistan: Could be transformative for the country’s economy and geopolitical influence. Economically, tapping into these resources could drastically reduce Pakistan’s reliance on imported energy, lowering costs, improving energy security, and providing a boost to GDP through new jobs, infrastructure development, and export potential. A significant domestic supply could also stabilize energy prices and attract foreign investments in the energy and related sectors, further stimulating economic growth. Pakistan's economy is struggling and this discovery could be a real shot in the arm the country needs. Geopolitically, becoming a major energy player could elevate Pakistan’s standing in the world, giving it leverage in global energy markets and reshaping alliances.

However, several challenges could keep Pakistan from fully benefiting from this discovery. Extracting these resources will need advanced infrastructure, skilled workers, and steady investment - things Pakistan currently lacks. Political instability is also a big concern, as it could scare off foreign investors who view Pakistan as a risky place to do business. Safety issues from separatist groups and conflicts with India and Afghanistan add more hurdles. On top of that, Pakistan would need to think about environmental concerns and the global shift toward renewable energy. But the biggest factor is politics - if the pakistani politicians can, for once, work together for the country’s benefit, this discovery could truly be a game changer.

China: Could greatly benefit China as it offers an alternative energy source to the Middle East, thereby reducing its dependence on Middle Eastern oil and enhancing its energy security. China's close ties with Pakistan, bolstered by substantial investments in various sectors, position it to have significant influence over these newly discovered resources. Furthermore, as Pakistan's wealth increases due to these energy reserves, it could create a lucrative market for Chinese products, fostering deeper economic ties between the two nations. This development aligns with China’s broader strategy of securing energy resources and expanding its economic footprint in South Asia.

India: The impact of this discovery on India remains uncertain and complex. On one hand, if Pakistan successfully taps into these oil and gas reserves, it could enable the country to prosper and focus more on its own economy vs. creating troubles for India. This economic growth might lead to a reduction in tensions and conflicts that have historically troubled India, opening pathways for dialogue and potential cooperation in areas such as trade and regional stability. On the other hand, the increased economic resources flowing into Pakistan could also present significant risks for India for e.g., a more financially robust Pakistan might have greater capacity to fund militant groups and thus terrorist activities in India.

Impact on Other Oil-Producing Countries (Saudi Arabia, Iran, Russia, etc.): This discovery is likely to negatively affect these countries. With oil prices already declining and a shift toward renewable energy, an increase in supply from Pakistan could push prices even lower, reducing revenues for these oil-dependent nations.

Western Countries: Similar to China, this discovery could benefit Western Europe by providing an alternative to Middle Eastern oil. It could open up new investment opportunities, strengthen economic ties, and enhance trade relationships. For the U.S. and Canada, the impact remains uncertain. While they could gain from increased trade relationships, they might also face challenges from an oversupply of oil, given that both countries are significant exporters of hydrocarbons.

What do you think?

https://preview.redd.it/wgmr1n0txmxd1.jpg?width=1440&format=pjpg&auto=webp&s=6c56985dce9cc9e2d2bf3107535e3f1c80f6ac68

19 Comments
2024/10/29
05:57 UTC

10

QatarEnergy signs agreement with TotalEnergies to partner in a 1.25 GW solar project in Iraq

QatarEnergy announced in a statement that it has signed a partnership agreement with TotalEnergies to enter into a solar power project that is part of the Gas Growth Integrated Project (GGIP) in the Republic of Iraq.

https://www.saudigulfprojects.com/2024/10/qatarenergy-signs-agreement-with-totalenergies-to-partner-in-a-1-25-gw-solar-project-in-iraq/

1 Comment
2024/10/28
15:28 UTC

3

Which presidential candidate will be better for oil stocks?

Trumps rhetoric for "Drill baby drill" and claims of reducing gas prices

Harris's EV friendly policies and the "inflation reduction act"

Israel, Iran, Saudis, OPEC, Russia, Ukraine, China foreign policies.

Which presidential candidate will be better for oil prices?

253 Comments
2024/10/27
19:09 UTC

25

Oil Price Outlook - Middle East Escalation

After the retaliation strike from Israel on Iran, how do you think the market will respond to oil next week? I heard calls on futures are comparable to the initial ukraine-russia invasion. I predict Iran will hit back and then Israel will hit Iran’s oil facilities and prices will soar. What’s your prediction?

53 Comments
2024/10/26
18:23 UTC

19

tiny oil leases and royalty checks

Long story short - My grandfather bequeathed some oil leases to my mother and her 10 siblings back in the late 1960s. She died in 2010. My dad always dealt with it. He died in 2024 and I don't know what the heck to do with these things. (I'm a co-executor of HIS estate) Her estate would receive teeny tiny checks on occasion, like $2 or $1 or some such number that was not worth bothering with so we pretty much never deposited them or anything. Now I just want to get rid of the damn leases. I have no idea where to start. Thanks in advance for any info.

16 Comments
2024/10/25
00:24 UTC

1

LP Export Infrastructure 2025

Hey,

Does anyone know about the new infrastructure that will be build in 2025/2026 to increase LP exports to over 2,000 kb/day

0 Comments
2024/10/24
21:22 UTC

0

Truth behind crude oil

I know that crude oil is not from “fossil fuels” that name was only given to promote scarcity. I have read previous articles about this fact but I cannot seem to find them. Could anyone help me find these articles?

4 Comments
2024/10/24
16:52 UTC

15

Apparently Permian crude is getting lighter - a big deal or no?

Is this to be expected? What are the implications? Not too familiar with the subsurface so interested to know if this is worth keeping an eye on or just a big nothing burger.

https://bothbarrelshq.com/p/23rd-october-2024

7 Comments
2024/10/23
11:40 UTC

5

Exploration buy back deal

Anyone here hear of a buy back option on a drilling deal. Company would buy back your investment if your not happy with the returns after 6mo. Written into the ppm.

6 Comments
2024/10/23
04:01 UTC

7

Updates For Getting Payment On Weatherford $140M Investor Settlement

Hey guys, I already posted about the Weatherford settlement, but since we got an update, I decided to post it again. Though the deadline has already passed, you can still file a late claim for it.

A quick recap, back in 2016, it was revealed that between 2007 and 2012, Weatherford made fake financial statements that gave them $900M+ in profits. After this news, the investors obviously sued them for this and the losses it caused. 

The good news is that Weatherford is paying $140M to investors to settle the case and move on.  I found out that even though the deadline has passed, they are taking late claims. So, if someone's late, you can check the details and file for it here.

In other news, today we’ll see how the Q3 went for Weatherford. Hopefully, it will be as good as Q2 when they reported increased revenues and net income.

Anyways, has anyone here been affected by these financial issues? How much were your losses if so? And what are your predictions for the next quarter? 

3 Comments
2024/10/22
17:59 UTC

1

Wireline

I am from Houston. I have CDL Class A with 3 years of experience and I am thinking about getting into Wireline. I have no experience in oilfield. Can you please guide me how to get into, and how much does it pays in starting and in future, and if this would be worth it in future. I am ready to move to midland tx. Can also after some experience can I be wireline Engineer as well is that possible without a Degree.

1 Comment
2024/10/20
20:09 UTC

6

What would happen if all oil in the USA would run out in 20 minutes?

i am creating a game where you have 20 minutes before all oil in the us runs out, but i am stuck on figuring out what (who ever manages oil) would do?

35 Comments
2024/10/20
19:28 UTC

0

US Oil Production will Peak Soon

34 Comments
2024/10/20
18:18 UTC

47

Crude awakening

8 Comments
2024/10/20
15:42 UTC

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