3 Things To Know Today Living The Crude Life
The Managed Marketplace in Oil and Gas
Brandon Davis and Imran Khan, Swan Energy, comment on the recent bankruptcies and how that will impact the oil and gas market in the second half of the year. As the market corrects itself through the managed marketplace, the concept of alternative financing is discussed.
Payroll Paycheck Programs and other government assistance will be running out and soon and banks are tightening up their rules and regulations, which should open up a new market of private financing.
Davis talks about the current state of oil and gas, citing examples from different areas of his portfolio. While there is opportunity and growth in some areas like natural gas, other areas, like trucking, is losing money.
The managed marketplace is also discussed as Kahn questions whether many of the leaders in today’s society from the media to energy to politics, if they actually have any “skin in the game”. The conversation transitioned into whether the current leaders are receiving guaranteed paychecks, creating new rules and regulations while directing subsidies and tax breaks to appointed and chosen people and companies.
Chesapeake Files Bankruptcy
Fracking pioneer Chesapeake Energy Corporation on Sunday became the largest oil-and-gas company to file for bankruptcy protection during the coronavirus pandemic.Chesapeake was once the nation’s No. 2 natural gas producer, thanks to early bets on fracking.
Aubrey McClendon, Chesapeake’s late founder and CEO, was considered one of the leaders of the shale boom that transformed the United States into the world’s largest oil and natural gas producer. But more recently, bankruptcy rumors had swirled around Chesapeake (CHK) as the company grappled with depressed energy prices, a poorly timed push into oil and a mountain of debt.
Watford City, McKenzie County Sees Record Growth
Daniel Stenberg, McKenzie County Economic Development and Job Development Authority comments on the unbelievable population growth in the heart of the Bakken oil field, Watford City, North Dakota.
Watford City’s population has increased 349% since 2010 according to the recently released 2019 US Census Bureau estimates. Since 2010, Watford City’s population has increased from 1,744 to 7,835. Other cities in McKenzie County include Alexander (population 375) which has experienced 68% growth and Arnegard (population 175) with 52% growth.
The Crude Life Podcast can be heard every Monday through Thursday with a Week in Review on Friday.