The price held at $50 for a couple of weeks but has continued to drop slowly to $44/bbl. Storage is full and it looks like a warm winter so far. If this continues to $40 or lower more adjustments will be coming!
4 replies (most recent on top)
Sell the 30th Streetoffice in Farmington. We have plenty of room for everybody in the swamp on Hwy 64!
Close Bartlesville and get it over with!
Fear not! Omnipotent mgmt has assured us that everything is cool @ $45 oil. Ummm...well, then there's that reality thing of oil being less than $45...wait...um...what...our Dear Leaders haven't planned our futures based on reality?! no worries...just wait till the Nov 10 analysts meeting...that's what they keep telling us on the inside. pretty sure they'll announce 98% reduction in worthless upper management...or sell-off or merger to another megaKorp that'll know better how to mortgage our souls...
Especially if the companies average realized price per boe is $29. If the oil price dips below $40 and holds for a while, we are toast as a company. I cant wait to see what kind of nonsense they spin this week at the investors meeting. We are a 'value' company if you value an organization that loses a billion dollars every quarter and cant seem to figure out what to do.