It wasn't that long ago you wouldn't have heard the word 'Permian' in anything from Chevron. Rob Thummel More Quotes by Rob Thummel More Quotes From Rob Thummel If you have large acreage positions like Pioneer and Concho, or lesser but more contiguous positions like Parsley Energy, and you're a pure-play Permian producer, there's no doubt that you are on the radar screen for these majors. Rob Thummel business We believe that OPEC will act like a central bank going forward, raising and lowering production as necessary with an objective of keeping global oil inventories at normal, 5-year levels. Rob Thummel company-news U.S. oil and gas producers need stable oil prices to be successful, not necessarily higher oil prices. Rob Thummel business The price move today is probably based off Iran and the tight oil supply market that we already have, the margin for error right now is just so low in the oil market that you can't just take supply off the market. Rob Thummel company-news Even if DUCs come online, U.S. production will continue to fall, and until output stops declining, it's going to be a challenging market for oilfield service companies, the number of new wells drilled in the United States has halved from 40,000, and the addition of a thousand or two thousand wells will not do much to arrest steep declines in shale production. Rob Thummel energy We could see a 150,000-200,000 bpd fall in oil production if financially challenged producers were to slow spending. Rob Thummel energy It's almost like a 80/20 rule – 80 pct of the cost reduction has already occurred, another 20 percent remains. Rob Thummel business All yieldcos are not created equal. Rob Thummel mergers-acquisitions
