Oil has never and never will go down and fail to rebound. I believe there is a relationship between price drop and rebound that over time will prove to be very beneficial to us because the rebound in price seems to be in multiples of the drop. That is, whatever the bottom I believe the market always recovers to a high that is several times the severity of the drop.
I go to Realclearpolitics.com and click on the energy tab for some very great reads.
These lower prices are great for our struggling (read putrid) economy in general, making it hard to cheer for higher prices which benefit very few at the expense of the many. Soon enough it will be our turn again.
I also believe that a new (read legitimate) president who knows how to generate economic growth (read Trump) will help a ton to lift the global economy, oil consumption and thus commodity prices.
If we can convince the shale play states to correct producer ethics issues, we might even get a fair royalty when the rebound in oil takes place.
No landowner should have to take $15 a month per acre as a royalty while the producer gets rich off of FREE NGLs and claims they have made nothing per gallon of NGLs. Ohio has been taken to the cleaners on NGLs.
Don't beleive producer excuses, they never intended to share the wealth with landowners.
Buck Well 1H was paid $56 an acre per month in Feb 2014 when Oil, Gas, and NGLs were at top dollar prices. The conditions for landowner royalties couldn't have been any better but we were paid $56 an acre which relative to what the producer made could be considered CHUMP CHANGE.
My neighbors barn still needs a worker to clean the stalls. Any O&G genius ceo's need a job yet?
I am very concerned about the NGL's not being paid, I believe my lease requires it. I am supposed to be in production in April, I am hiring an accountant who specializes in oil and gas royalties to audit my statements versus my lease.
We will see where to go from there.
I wonder if attorney fees can be awarded in addition to damages in these type's of cases ?
Thank you for the response.
After you have contacted the Ohio Attorney Generals Office please reply back and let us know if there is anybody that is willing to help.
Ron We got a check on sat for aug and sept; our well is turned way down as what Rice said. They sold it for .77 cents per unit lol our check was for 12.67
"... If we can convince the shale play states to correct producer ethics issues, ..."
The Ohio Attorney Generals office claims that they have no Legal Duty to get involved with any Oil and Gas Leases between Chesapeake and any group of Landowners.
I hope oil and gas does rebound like it has in the past. One difference in today's economy, is that solar and wind energy are competitors and it is possible these renewable energy sources will become increasingly competitive, perhaps not in a few years, but if thinking in terms of just a decade or two, then the demand for oil and gas could be significantly decreased, which leads to continued lower prices. I do not have a crystal ball to the future, but I do believe the renewable energy market is going to grow.
With all due respect, renewable energy is a pipe dream of nonsensical tripe from global warming leftists.
In the year 2100 the discussion will not have changed much.
I don't fear renewables as it pertains to them hurting the oil and gas market, not do I root for oil and gas prices to increase just so I can make even more money.
Low commodity prices benefit the many while high prices benefit the few, and most of us are already okay financially.
We need only wait our turn, it will come back around.
I will say this, if every energy company and every opec country went bankrupt today I would cry for the workers but that would be it, even if it cost me what I consider to be vast potential wealth.
You could be right, again, I am not trying to offend you, I just very much disagree.
No problem...I appreciate your respect. I understand the opinions greatly vary regarding the success of the renewable energy industry. The investments are there, the success is TBD