00:03:00 @Albertagarbage takes a break from yard work to join.
What does a "rough" quarter mean? AG resets expectations by taking us back to a world where $80 WTI is crossed for the first time and the patch is back.
00:09:30 AG talks about how the patch is really short of people.
In some cases, the money isn't there. In others, the folks doing the work are quitting. One nice thing about the infusion of Ukranian workers: They can pass drug tests.
00:23:00 A lot of cost increases have gone directly to the workers. Inflation in OFS has room to run.
00:26:00 @AhmedBa44329064 asks what companies are doing to save on services. @Albertagarbage discusses a permanent efficiency gain that reduces well costs. Services bottlenecks put E&Ps' ability to deploy CAPEX at risk.
00:38:30 AG: Companies with the best equipment and support (e.g. mechanics on staff) attract and retain the talent now. Also critical is the ability to give employees a set schedule.
00:41:30 @sohaibab9 time to buy services?
How much pricing power do services have? Can and will they use it?
00:49:30 What does CNRL stand for? A recurring theme for this Space: Will companies that historically treat OFS companies poorly suffer?
discusses his brother's experiences working in the patch. Shout-out to
for Sunday's epic Q3 preview of 57 #COM companies.
00:59:00 Shubham discusses returning to normal life after being in the field.
1:16:00 @RazorOil shares his insights on OFS.
1:24:00 Alex sees issues for smaller "treadmill" firms that rely on continuous services, and the hedge against this is investing in the thermal producers. Alex has small positions in service names.
Shubham says OFS companies are too hard to model. E&Ps are much easier. Razor doesn't model OFS either.
1:30:00 @OjukwuPHD provides his thoughts on OFS, giving some guidance on valuation.
1:34:30 Ahmed asks about the Dangote Refinery. Dr. Kalechi says the plan was to refine oil from all over the world. Now the Nigerian Government is taking a stake, meaning that Nigerian oil will have some defined access to the facility.
He says that U.S. private equity is returning to Africa -- with a focus on NG. Will supply be regional or can Africa support EU NG requirements?
1:48:00 @Josh_Young_1 continues the conversation on OFS. It's unanimous -- Josh doesn't build OFS models, either.
Josh discusses the types of service companies he holds.
1:54:30 Josh says that large companies that abuse OFS contractors will eventually pay a greater price.
2:01:30 What does Josh think about Q3 earnings?
2:07:00 Josh says this won't the peak earnings quarters for these companies.
2:14:30 @rockcreekfreak discusses $PNE's new Pekisko wells now coming online.
I've been looking at PNE's slide deck for months, wondering what "Pekisko Oil Opportunity" meant. Rock explains how Pine Cliffe beat CNQ to get to this opportunity to greatly increase its oil production.
@sohaibab9 and @WhiteTundraSG talked $PNE after Q2 with @Acesportsfan1 (CEO Phil Hodge) here:
2:30:00 What Q3 results is Rock eyeing? Will $IPCO make announce a Black Rod sanctioning announcement? @ootelloo joins to discuss his thoughts on IPCO/Black Rod.
High-Energy Monday