Curious on this, too

Random shot in the dark here, but I have a question if anyone works for or understands how Enterprise Products works for vendors.

We have an MSA and perform service and sell equipment to Enterprise in the Permian and Corpus Christi areas. I'm being told by someone in Mont Belvieu that they see my company in Atrack but we aren't on their AVL. If we aren't on the AVL any PO would get rejected when it gets to Purchasing.

I'm taking a few different routes with Enterprise personnel to try and understand how that works but wanted to run it by this group too just in case anyone had insight. Feel free to PM if you would rather not discuss on a public message board.

Twitter says Laguna Resources.

Gig-Em2003 said:

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Twitter says Laguna Resources.

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Hmm not familiar with them - seems to be little corporate info out there

Gig-Em2003 said:

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Twitter says Laguna Resources.

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https://www.mineralrightsforum.com/t/laguna-resources-llc/85826

Dawson county and Birch in particular has turned on some great wells.

Does anyone have insight on the LOGOS process? Heard they got at least one bid over $1 billion. Insane.

Rumor is stone ridge wants to spend $1B a month and ABS it all. So that's a safe bet.

Gig-Em2003 said:

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Rumor is stone ridge wants to spend $1B a month and ABS it all. So that's a safe bet.

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$30B over the next 3 years mentioned yesterday by Flywheel with Stone Ridge.

Marsh said:

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Does anyone have insight on the LOGOS process? Heard they got at least one bid over $1 billion. Insane.

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Just this, which doesn't help with your question much.

LOGOS Energy Sets New San Juan Basin Records with Expanded 2025 Mancos Development Program

WTI in the upper-$70s this morning.

bullish indication

They know that this will likely be a long conflict. Trump won't give up, but Iran's current government isn't going anywhere either

Bibendum 86 said:

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Ag CPA said:

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WTI in the upper-$70s this morning.

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Banker friend tells me every producer in his book wants to hedge now as far out as possible.

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Until they find out they're swapping $63 barrels next year.

What government?

Regime. Let me know if that makes sense

Seeing a lot of signs of physical distress (jet fuel, and Asian crude) not fully baked into derivative markets. Strong likelihood this rally will have some serious legs to it.

Makes sense given how much crude is getting backed in in the Middle East at the moment

Yeah, I think everyone got excited that we're trying to guarantee passage through the Strait, but I think there's been enough destruction in that area's processing/shipping abilities that there's going to be shortages popping up soon.

A tanker near Iraq was struck by a potential naval drone. A small boat approached and blew up.

Buckle up.

An Iranian remote controlled boat laden with explosives was used on Thursday to target and damage the Bahamas flagged crude oil tanker Sonangol Namibe anchored in Iraqi waters, according to initial assessments from two Iraqi port security sources.
Reuters #oott

— Giovanni Staunovo🛢 (@staunovo) March 5, 2026

Maybe a dumb question. If a producer has already hedged their production prior to the recent Run-up, are they able to redo those hedges to take advantage of better pricing?

My assumption is no given they are only able to hedge a certain % of their holdings.

Yes, you technically can by closing out the hedge position and opening a new one.

It's just going to cost more money (transaction fees + the gain / loss realized when closing out the position) which is counterproductive. It's been a while since I was in that world and don't remember all the rules, but you'll make your tax & accounting departments really cranky because you don't want to be trading out of a hedge position.

Once you start pulling and restructuring hedges you probably won't have a job very long unless you are the boss's kid/nephew/son-in law. The whole point of a hedge is to make sales of your physical production "insensitive" to price swings by setting floors, ceilings, price collars, with some directionality preferences.

Also, it could put you in violation of debt covenants if not careful.

Dirt 05 said:

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Yes, you technically can by closing out the hedge position and opening a new one.

It's just going to cost more money (transaction fees + the gain / loss realized when closing out the position) which is counterproductive. It's been a while since I was in that world and don't remember all the rules, but you'll make your tax & accounting departments really cranky because you don't want to be trading out of a hedge position.

Once you start pulling and restructuring hedges you probably won't have a job very long unless you are the boss's kid/nephew/son-in law. The whole point of a hedge is to make sales of your physical production "insensitive" to price swings by setting floors, ceilings, price collars, with some directionality preferences.

Also, it could put you in violation of debt covenants if not careful.

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Seems to me like rather than buying out your previous position, you would just add a new hedge layer on top based on your new projections/outlook. Same thought process as DCA.

I think crude might be a few weeks from $120 at this rate. Obviously subject to change if the conflict ends tomorrow. But I see this continuing for months.

The good news is I see no evidence that we had considered what might happen on day 2 and beyond when we launched our attack.

Middle distillates on an absolute tear. May need to see demand destruction to sort this mess out.

There's only so much you can hedge, especially if your RBL made you. I've seen operators hedge themselves into a negative cash flow position doing this.

Comeby! said:

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There's only so much you can hedge, especially if your RBL made you. I've seen operators hedge themselves into a negative cash flow position doing this.

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This very well could be one of those times. This is the exact opposite of COVID.

Time to go top off the tanks...

That assumes you have added production that is unhedged. Depending on your capital structures, you are generally required to hedge a certain amount.

It was a rhetorical question. My bad.

I can get two Tremors now, right?