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Comment by William C. Morrison on January 15, 2016 at 6:37

Well Iran has yet to hit the market with their oil and the price is already nearing or busting 30 bucks a barrel.  Goodyear was delisted from the NYSE and is now an OTC stock.  China stock market is dropping like a rock.  And the NYSE is not far behind.  We have already passed the so called "correction" point and may be heading further down.  So in general the oil patch is hurting and soon all of us will be hurting.  But the price of gas is cheap and that could help a lot of people especially the truckers and airlines.  We have to just keep on keeping on! 

Comment by William C. Morrison on December 22, 2015 at 1:17

I saw a map yesterday of where the super tankers are now anchored waiting to off load oil  They are all around the Gulf Coast from Houston to New Orleans.  I guess they can tie up to an old oil rig and just sit there until its their turn for the port.  I hope a winter storm does not roll in and cause problems for them.

About the Majors.  I have a few shares of XOM, and buy a couple now and then via DRIP.  Pays a good dividend.  I started buying it in the mid 1990s and have amassed 230 plus shares.  It split a couple of times in route to today.  XOM is a well run company.  I would shy away from
BP and might buy Chevron but that would be about it.

Merry Christmas and a Happy New Year to all.

Comment by Joe Aldridge on December 21, 2015 at 8:34

I don't see how its going to help. It just adds more inventory to the world supply.

If I were buying I would consider buying any and all of the Majors. However, they may go cheaper though. The price of oil will probably go to 20 or so before this turns around. That is unless something major happens in the Mid-East to disrupt supply.

Hope you guys have a good Christmas.

Joe

Comment by William C. Morrison on December 21, 2015 at 6:37

Hey, Joe.  I read where the lifting of the crude oil embargo will help Texas and the Permian Basin.  Do you think that is true?  Wall Street seems to think the low oil prices hurt rather than help the industry overall.  All the oil company big board stocks are down, I am thinking of buying some more XOM at these depressed prices.

Comment by Joe Aldridge on December 13, 2015 at 10:40

Chip,

I agree with you. I said I thought that the price of oil would go below $30 a couple of months ago. That was when the deal with Iran was signed. I would not be surprised if we went below $25 when Iran kicks their production in. Its going to be a long time before prices return to the $65 range unless something really bad happens in the Mid-East. Something that would take out the entire region. With some of the characters that have taken control in the area who knows. Time will tell. 

Comment by William C. Morrison on December 13, 2015 at 6:44

It appears the Saudi's have busted OPEC wide open.  There are no pumping limits (the members seemed to ignore them anyway).  And the Iranians are trying to come on line, though many say there equipment is ancient and worn out, so do not expect a tremendous amount of production from them.  So that all depresses the price of crude oil and it appears that there will be an abundance of it in the near future.  Price is already in the $36 region and will probably go lower before it is over.  The Saudi's have no love for the Iranians and do not want to "share their good fortune" with anybody now.  It will hurt the Russians, the US Shale exploration, the Venezuelans, the Nigerians, the Libyans - all the members and some nonmembers of OPEC.  And it will hurt the TMS exploration too.

Comment by Dana Melancon on July 16, 2015 at 2:32

But just maybe the will be a tremdious up swing with the commodity prices(Oil, black gold etc...) somewhere in the near future!! Would really love to see any activity!!!! Have a wonderful weekend everyone. Beat the heat, stay cool!

Comment by Steve on July 15, 2015 at 3:59

No one I have heard of is leasing right now in W. Fel. and most leases have already expired or are in the last year of their renewal option period. Some of the earliest leased acreage was renewed before the price of oil dropped but none since. I would be surprised if we see much happen anywhere in the TMS for a few years, unless the price of oil moves back near $90 Brent before then.

Comment by Skip Peel - Mineral Consultant on July 15, 2015 at 3:09

Welcome, Mason.  There is little activity discernible in the TMS Play currently due to low commodity prices and high well costs.  Use this link, join the appropriate groups and read the discussions to get up to date on the state of the play.

http://www.gohaynesvilleshale.com/tuscaloosa-marine-shale

Comment by Mason kellum on July 15, 2015 at 2:55

I am new to the area and have just begun looking into the oil market for the area, are there any new leases going on in the west fel. Area? Just curious i have inherited some acreage and just wondering about leasing it, if there is anything going on right now there.

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