Thread regarding Noble Energy Inc. layoffs

Brent Crude at $90 By Year End Goldman Sachs Predicts

The price of oil keeps going up. Natural gas is almost $6. Hindsight being 20/20 shows the selling of Noble Energy was the worst decision anyone could have made, unless you were able to personally profit from the deal.

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Post ID: @OP+1d3np0GP

12 replies (most recent on top)

Well, oil is now over $120/BBL. They were not off by much.

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Post ID: @2Aibl+1d3np0GP

Well, it's year end, past actually, and oil isn't at $90. So much for the oracle of GS. Still, oil hovering in the $70s ain't bad. Now if the industry can just maintain discipline...

As for the fate of Noble, it's still better under Chevron management than the likes of that id--t Stover.

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Post ID: @1zyxt+1d3np0GP

Selling Noble was not a “bad” idea. These guys couldn’t make money at $100 barrel. The worst management team in the history of oil and gas.

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Post ID: @1fpls+1d3np0GP

Brent is over $86 and Cushing oil inventories are at the lowest levels since 2018 with no relief in sight.

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Post ID: @opjb+1d3np0GP

Thanks Dave! You really screwed the pooch.

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Post ID: @kzma+1d3np0GP

Looks like Goldman Sachs is going to be correct.

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Post ID: @gcvv+1d3np0GP

With the current US administration shoving green energy down our throats, OPEC+ refusing to increase production and the lack of investment by the E&P industry, we are in a perfect storm for prices to go higher. Stover and former managerial staff at Noble would have still messed it up though.

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Post ID: @anxb+1d3np0GP

Crude has steadily gone up and doubled from $40 to $80 since selling to Chevron.

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Post ID: @atmi+1d3np0GP

Brent is now $81+ and going higher.

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Post ID: @6qrz+1d3np0GP

They are forecasting a colder than normal winter.

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Post ID: @rvr+1d3np0GP

I doubt it. It's winter, demand is low, unless we might have a nasty winter and heating fuel is an issue. GS is talking their book and I doubt they have any interest to keep their bag holders informed. The only way for the price to reach that high in winter is if the oil cartel cuts production.

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Post ID: @hkv+1d3np0GP

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