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Gold/Mining/Energy : Exxon Mobil (XOM)
XOM 116.53+1.3%3:59 PM EDT
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To: Jon Koplik who wrote (571)12/17/2024 2:02:03 PM
From: robert b furman1 Recommendation

Recommended By
Jon Koplik

   of 585
 
HI jon, Good read.

Drilling Rigs doing multiple wells without moving, longer laterals spurring consolidation of contiguous properties, fracing several wells at the same time, Cube drilling, and one I just learned about Caterpillar now makes electricity needed on sight by blending diesel fuel and natural gas in Bi Fuel generators. Saves several million per fracing crew per year. XOM and Pioneer use Pro Petro (PUMP), Permian Resources use bifuel and claim the lowest cost of drilling per linear foot in the Permian.

There appears to be a continuing differential between innovative companies vs old school companies.

I suspect with a drop in oil prices during this Q1 period, several of the old schools will fold and get picked up by the modern drillers. Especially if their land is contiguous to the innovative companies.

Chevron now claims profitability at 35 to 40 Dollar oil.

It is a fast world out there.

Thanks for the good read.

Bob
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