Gold Member BOHICA Posted April 12 Gold Member Share Posted April 12 Producers are paying $2.00 per million BTU to get rid of natural gas. https://oilprice.com/Latest-Energy-News/World-News/Texas-Natural-Gas-Prices-Are-Negative-As-Drillers-Chase-Oil-Sales.html Natural gas prices at the Waha hub in the Permian basin in Texas slumped to a negative value of -$2.00 per million British thermal units (MMBtu) this week as the recent rise in oil prices prompts producers to bring drilled but uncompleted wells online. As the U.S. benchmark oil price, West Texas Intermediate, hit $85 per barrel—the highest level in nearly six months, Texas producers keep pumping crude, but their wells also produce gas, which basically has nowhere to go. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 12 Share Posted April 12 8 hours ago, BOHICA said: Producers are paying $2.00 per million BTU to get rid of natural gas. https://oilprice.com/Latest-Energy-News/World-News/Texas-Natural-Gas-Prices-Are-Negative-As-Drillers-Chase-Oil-Sales.html Natural gas prices at the Waha hub in the Permian basin in Texas slumped to a negative value of -$2.00 per million British thermal units (MMBtu) this week as the recent rise in oil prices prompts producers to bring drilled but uncompleted wells online. As the U.S. benchmark oil price, West Texas Intermediate, hit $85 per barrel—the highest level in nearly six months, Texas producers keep pumping crude, but their wells also produce gas, which basically has nowhere to go. it was a warm winter... worldwide Quote Link to comment Share on other sites More sharing options...
MILFMAN Posted April 12 Share Posted April 12 https://www.eia.gov/naturalgas/weekly/ Doesn't look negative to me. I must be missing something. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted April 12 Author Gold Member Share Posted April 12 In this economy, at least some things are getting cheaper. Natural gas prices in West Texas have dipped below zero — yes, some operators are paying to get rid of gas. At the same time, higher oil prices and increased demand is spurring more crude production in the Permian Basin. In other words, the higher price of one commodity is helping tank the price of another. In West Texas, energy companies are often producing crude oil and natural gas at the same time — Steve Cicala at Tufts University said you can think about it like parts of a chicken. https://www.marketplace.org/2024/04/11/the-higher-price-of-oil-is-helping-tank-the-price-of-natural-gas/ Quote Link to comment Share on other sites More sharing options...
MILFMAN Posted April 12 Share Posted April 12 (edited) I know what some of our power plants PAID for gas this week and it definitely wasn't zero or less than. I am not finding a lot of specific information on this. I think there is a very localized issue as maybe the producers want to get rid of the gas to quickly shift focus to the more lucrative oil. Take a quick loss for bigger profits. Natural gas in the country is still far from free. Edited April 12 by MILFMAN Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted April 12 Share Posted April 12 Drill baby Drill. Quote Link to comment Share on other sites More sharing options...
Gold Member Stephen Hawking Posted April 12 Gold Member Share Posted April 12 I've been producing an over abundance of natural gas myself lately. Never thought of selling it. 4 Quote Link to comment Share on other sites More sharing options...
gravy davey Posted April 12 Share Posted April 12 12 hours ago, BOHICA said: Producers are paying $2.00 per million BTU to get rid of natural gas. https://oilprice.com/Latest-Energy-News/World-News/Texas-Natural-Gas-Prices-Are-Negative-As-Drillers-Chase-Oil-Sales.html Natural gas prices at the Waha hub in the Permian basin in Texas slumped to a negative value of -$2.00 per million British thermal units (MMBtu) this week as the recent rise in oil prices prompts producers to bring drilled but uncompleted wells online. As the U.S. benchmark oil price, West Texas Intermediate, hit $85 per barrel—the highest level in nearly six months, Texas producers keep pumping crude, but their wells also produce gas, which basically has nowhere to go. Thanks Joe Biden Quote Link to comment Share on other sites More sharing options...
gravy davey Posted April 12 Share Posted April 12 This has nothing to do with Biden shutting down NG exports at all Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted April 12 Share Posted April 12 I just picked up a 5 quart jug of pennzoil ultra platinum for $21. Made from natural gas. Cheapest I’ve ever paid. Best oil on the market. 1 Quote Link to comment Share on other sites More sharing options...
akvanden Posted April 12 Share Posted April 12 35 minutes ago, ActionfigureJoe said: I just picked up a 5 quart jug of pennzoil ultra platinum for $21. Made from natural gas. Cheapest I’ve ever paid. Best oil on the market. how many miles do you put on a year? Do you change it while on the road? Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted April 12 Share Posted April 12 8 minutes ago, akvanden said: how many miles do you put on a year? Do you change it while on the road? I try to change it every 3k. Last year I put on almost 19k. I do have a home base now. Before I’d change it on the road if required. Most miles are highway. Most hours are in the back country. If that makes sense. Quote Link to comment Share on other sites More sharing options...
akvanden Posted April 12 Share Posted April 12 5 minutes ago, ActionfigureJoe said: I try to change it every 3k. Last year I put on almost 19k. I do have a home base now. Before I’d change it on the road if required. Most miles are highway. Most hours are in the back country. If that makes sense. If you’re putting in PUP, you should be able to go 10k. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 12 Share Posted April 12 3 hours ago, XCR1250 said: Drill baby Drill. so we can EXPORT more of it? c'mon Don... Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted April 12 Share Posted April 12 7 minutes ago, akvanden said: If you’re putting in PUP, you should be able to go 10k. Never. I don’t believe in the 10k oil change. I might push it to 5k Quote Link to comment Share on other sites More sharing options...
akvanden Posted April 12 Share Posted April 12 An oil analysis at 3k (or 5k) would change your mind! Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted April 12 Share Posted April 12 27 minutes ago, akvanden said: An oil analysis at 3k (or 5k) would change your mind! The 3.7 is a spinner. When I’m in the mountains it’ll spin at 5-6k rpm for extended periods. Ford increased oil capacity to 12 quarts on the “23 for a reason. I’ll stick to the short OCI. I’ve done plenty of oil analysis. They don’t tell the whole story. I’ve seen motors that have extended drain periods with good oil analysis and excessive sludge build up. Toyota is a good example. 1 Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted April 12 Share Posted April 12 4 hours ago, Crnr2Crnr said: so we can EXPORT more of it? c'mon Don... Stop the exports too.. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 12 Share Posted April 12 10 minutes ago, XCR1250 said: Stop the exports too.. we don't refine or utilize our own oil for gasoline that's why driLL baYbY driLL is literally a calling card for dummies... like @Pete Quote Link to comment Share on other sites More sharing options...
Pete Posted April 12 Share Posted April 12 Pooir cunt 2 cunt cant stand the facts that trump was better, Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted April 12 Author Gold Member Share Posted April 12 16 minutes ago, Crnr2Crnr said: we don't refine or utilize our own oil for gasoline that's why driLL baYbY driLL is literally a calling card for dummies... like @Pete “Most of the crude oil produced in the United States is refined in U.S. refineries along with imported crude oil to make petroleum products.” https://www.eia.gov/tools/faqs/faq.php?id=268&t=6 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 12 Share Posted April 12 20 minutes ago, BOHICA said: “Most of the crude oil produced in the United States is refined in U.S. refineries along with imported crude oil to make petroleum products.” https://www.eia.gov/tools/faqs/faq.php?id=268&t=6 dig deeper Hoss... Quote Link to comment Share on other sites More sharing options...
teamgreen02 Posted April 13 Share Posted April 13 10 hours ago, MILFMAN said: I know what some of our power plants PAID for gas this week and it definitely wasn't zero or less than. I am not finding a lot of specific information on this. I think there is a very localized issue as maybe the producers want to get rid of the gas to quickly shift focus to the more lucrative oil. Take a quick loss for bigger profits. Natural gas in the country is still far from free. Oil is high so they keep on drilling. Natural gas comes with the oil whether they want it or not. 7 hours ago, ActionfigureJoe said: I just picked up a 5 quart jug of pennzoil ultra platinum for $21. Made from natural gas. Cheapest I’ve ever paid. Best oil on the market. Where was that at? I bought some the other day that was around $25 for a 5 quart jug and I bought it in a 3 pack. Use it in my wife's Ecoboost. Think I went 10k on the last change. Want to change it at more like 5k but get busy and lose track. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted April 13 Share Posted April 13 20 minutes ago, teamgreen02 said: Oil is high so they keep on drilling. Natural gas comes with the oil whether they want it or not. Where was that at? I bought some the other day that was around $25 for a 5 quart jug and I bought it in a 3 pack. Use it in my wife's Ecoboost. Think I went 10k on the last change. Want to change it at more like 5k but get busy and lose track. Amazon with a subscription. You need to change oil in an ecoboost every 5K. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted April 13 Author Gold Member Share Posted April 13 56 minutes ago, Crnr2Crnr said: dig deeper Hoss... if US refiners can’t use our crude oil we produce why don’t exports match import? You do realize they blend these oils right at the refinery…. Something like just north of 70% of US oil is blended with 30% imported oil to get the refiners the desired blend for refining. Quote Link to comment Share on other sites More sharing options...
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