Cramer said that the market has got it all wrong. As the indexes declined on Thursday, Cramer was shocked to realize that investors are fretting over the lower oil price.
Fall in commodity prices is a good thing according to Cramer. “With commodity prices down big, as they are now, that gives you a benign market, a positive one, less roiled by a host of earnings disappointments and interest rate hikes that can slay any bull,” said Cramer.
Looking back at 1987, when there was a sudden rise in commodity prices, goods like paper and chemicals shot through the roof. Rise in commodity prices leads to declining gross margins, lesser profits and an eventual fall in stock prices. Even before the 2008 crash, commodity prices were at their peak. Cramer fails to understand why investors do not realize the benefits of lower oil price. Lower price of oil means that small businesses and consumers get the advantage of additional disposable income which will lead to higher spending.
One man’s trash is another man’s treasure!
Anyone know why it’s taking so long drilling the Mashburn wells? The last one was spud in mid October. Cactus site still shows three rigs still drilling.
I just received notice from NFX of emergency application to make Virginia 1-9H a multi-sectional well. They want to continue drilling into section 4.
John: What is the township for the Virginia? Mark D.
I’m thinking it’s because the Saudis are bombing in Tunisia. One of those so called geopolitical events.
So glad to see oil prices up again today. WTI was up to over $50.00 and that makes about 4 or 5 days in a roll it has been up! Yea!
Also noticed there has been another oil and gas lease recorded three days ago in the county records for section 34 2n4w so maybe we’ll get a well there some day soon. I hope!
Hubby went to the diggings to check on the Poteets and he said there was NO ONE around anywhere so maybe they have been put on production. Hope so! Maybe you will get a report soon. Said the only man around was at the Forest well and he was kind of a jerk. Said he wouldn’t say anything except that he needed a hard hat. There was no rig on it or anything that might fall on one’s head but that was the only thing he said.
Just checked prices again. WTI - $51.29 and Brent $59.09. That’s mo better!!!
Hope it doesn’t take someone being bombed to get them back up there but it could be!
The completion reports state that the choke is 28 on the Mashburn wells. Does that mean they are only partially open?
Michael…it would mean It’s 28/64th open. 64 is completely open. I think I quoted hubby right. Those wells are DANDYS!!!
Mashburn 6H-33x, first sales date Jan. 9, 2015. 590 BBL 6213 MCF.
Happy Sunday Everyone! Does anyone have any news about what Chevron’s doing out there. Just got my 7.00 check…I wish they would do something. According to my statement; it looks like they have shut down most of my production. This oil stuff is like hunting for Easter eggs; everytime I get the paper work out or Google something; I find something new!
There is a new rig up just north of the Vanarkel and west of the compressor station that’s on the west side of highway 76. That would be on section 15 2n4w. What’s the name of that one? Is it the Virginia?
Linda, I guess I missed your post on Thursday, thanks for the info. I hope they are “screaming” away! Thanks from my cousins too, they read your posts, just sort of lurking in the background.
Rig is still up on the east side of the new Newfield office. Believe that’s section 23 2n4w.
Oh, Yes, that’s right, John…this is not in 16. It’s in section 15 2n4w just west of the compressor station. I believe there is a Vanarkel and a Jerry well in that section. So what is this one going to be called? I do think it would be a CR well. I had heard the name Virginia mentioned and I guess the reason is because it’s the one on the corner of 16 like you said. Our royalty is in 16 but I know that one is going north into 9 and 16 doesn’t get any of it this time.
They have been working some more on the one that’s going in on the NE corner of what I believe is 22 2n4w or it could possibly be in the SE corner of 15 but it’s on the south side of highway 29. Anyway they have just graveled the road going up to the location. Looks like the location is ready and waiting for a rig. Not as much traffic as was down there a few months ago but still plenty busy and dangerously fast trucks and pickups! Was afraid last evening I would at least get a window broken with gravel if not worse! Was coming from my uncle’s funeral at Velma and since they have the south part of highway 76 closed starting at highway 29 and going down to Ratliff because of work on a bridge I had to go through the country where all the paved roads have been turned to dirt and gravel. Washed my car before I went down and again when I returned. Going to wash the paint off before long! lol
The new Kelly wells had large flares burning on them. I’ve heard that they are still getting too much gas on all the Newfield wells down there to handle and that DCP are installing some new 16" line to try to better handle it.
Linda-- Van Arkel 6 and 7 permitted last week
Yeah, Bob…I can understand what you are saying. It just seems to be that when oil goes up the gasoline at the stations goes up a week or two later.
Hubby said he tried to go down to the diggings and they have the road all messed up down highway 29 about where you turn in to go to the Poteets, etc. Said one lane was closed and they had graded it off and oiled it and they were having to follow a pilot car so he just turned around and came back. He said it was really a mess down there with all the traffic and no good highway. Yuck!
Completions on some of the Mashburn wells.
Mashburn 2H-33x, first sales date Jan. 13, 2015. 751 BBL 8235 MCF.
Mashburn 3H-33x, first sales date Jan. 13, 2015 995 BBL 7945 MCF.
Mashburn 4H-33x, first sales date Jan. 14, 2015 657 BBL 1436 MCF.
Two more Mashburn wells and the Hatchett to go.