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  • satx78247

    Member, Emeritus
    Emeritus - "Texas Proud"
    Rating - 100%
    1   0   0
    Jun 23, 2014
    8,479
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    78208
    Vaquero,

    For ME to receive any royalty payments, we need 3.50 per gallon gas prices, as all of our wells are "strippers".
    (I have NOT gotten a single dime of royalty in over 20 months.)

    yours, satx
     

    SQLGeek

    Muh state lines
    Rating - 100%
    4   0   0
    Sep 22, 2017
    9,591
    96
    Richmond
    Vaquero,

    For ME to receive any royalty payments, we need 3.50 per gallon gas prices, as all of our wells are "strippers".
    (I have NOT gotten a single dime of royalty in over 20 months.)

    yours, satx

    No offense but I hope you don't get them for a very long time. :)

    That said, Vaquero is right. Oil has a sweet spot and too cheap isn't good.
     

    Maverick44

    Youngest old man on TGT.
    Rating - 100%
    1   0   0
    I think I saw it for about $1.40 a couple of days ago.

    I know it's hard on the oil workers, but I can't say that I'm not enjoying it being cheap. I drive 80 miles a day for work in an old truck that gets 14 MPG on a good day. You do the math on what that costs a month...
     

    easy rider

    Summer Slacker
    Lifetime Member
    Rating - 0%
    0   0   0
    Jun 10, 2015
    31,489
    96
    Odessa, Tx
    I filled up at Murphy's in Odessa yesterday for $155.9 a gallon. This area is usually higher in price than elsewhere in Texas.
     

    toddnjoyce

    TGT Addict
    Rating - 100%
    4   0   0
    Sep 27, 2017
    19,285
    96
    Boerne
    I think I saw it for about $1.40 a couple of days ago.

    I know it's hard on the oil workers, but I can't say that I'm not enjoying it being cheap. I drive 80 miles a day for work in an old truck that gets 14 MPG on a good day. You do the math on what that costs a month...

    It’s not just the roughnecks.

    The loss of excise taxes is going to hit the PUF, Rainy Day Fund, and Public School Fund pretty hard. Lower consumption tax revenue will impact DOT project funding and a lot of other programs.

    Here’s just a high-level overview.
    https://pbpa.info/resources/education/economic-impact-of-oil-and-gas-in-texas
     

    coachrick

    TGT Addict
    Rating - 100%
    4   0   0
    Dec 26, 2009
    3,062
    46
    north-north Austin
    Texas is an oil producing state.
    Cheap gas ain't good for our economy.
    We need $2.00 gasoline and $50.00 a barrel oil.
    I've been through many booms and busts.
    This cheap fuel is gonna hurt pretty quick.
    It's been hurting in the natural gas sector since the "recession". Many of the smaller companies have called it quits...not worth taking out of the ground. Having 'working interests' in nat gas hasn't produced revenue over expenses in at least 4 years. Dang

    BTW....Costco Cedar Park was $1.35 for 87 petrol yesterday...under two bucks for 93 octane. Diesel folks are still paying a hefty premium from the looks of it.
     

    coachrick

    TGT Addict
    Rating - 100%
    4   0   0
    Dec 26, 2009
    3,062
    46
    north-north Austin

    Vaquero

    Moving stuff to the gas prices thread.....
    Staff member
    Moderator
    Rating - 100%
    11   0   0
    Apr 4, 2011
    44,208
    96
    Dixie Land
    It's been hurting in the natural gas sector since the "recession". Many of the smaller companies have called it quits...not worth taking out of the ground. Having 'working interests' in nat gas hasn't produced revenue over expenses in at least 4 years. Dang

    BTW....Costco Cedar Park was $1.35 for 87 petrol yesterday...under two bucks for 93 octane. Diesel folks are still paying a hefty premium from the looks of it.
    After spending a year or so out in the Permian Basin, I could see the Nat gas glut coming. Nearly every job I was on involved power for a new gas processing plant. I expect propane to drop too. For some reason, it hasnt.
     

    easy rider

    Summer Slacker
    Lifetime Member
    Rating - 0%
    0   0   0
    Jun 10, 2015
    31,489
    96
    Odessa, Tx
    Note to self: Stay out of Odessa.
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