Oil prices

[TBD]

All that I can say is that all evidence was not allowed to be presented prior to the indictment and the testimony heard will very likely be disproved, with a high likelihood of a perjury charge.

Everyone deserves the presumption of innocence and I've only read some of the pleadings in the civil case. That said, there likely won't be a trial in which any testimony will be heard. These cases will probably end with the defendants taking a deal and pleading guilty.

[Rover]

Holy crap, Rover. Back off the rhetoric. I've never seen so many words stuffed into a person's mouth before.

Lol. Guess you just accept the innuendos and aspersions without clarification or context. Don’t care or just would rather not question, or is this a sensitive subject that makes you go off?

[Rover]

All that I can say is that all evidence was not allowed to be presented prior to the indictment and the testimony heard will very likely be disproved, with a high likelihood of a perjury charge.

I don’t believe a defense is mounted in a grand jury hearing. It’s purpose isn’t to render a decision, just to discover if there is enough evidence to bring formal charges with a likelihood of conviction. As for the perjury being claimed, perjury to a grand jury is a very serious charge. So, one side or the other is in deep stuff. If the prosecutor hasn’t done enough background to insure against a witness giving false testimony that can’t be corroborated, it is very sloppy work. If it was deliberate collusion, then this really is a big story.

[Teo9969]

Lol. Guess you just accept the innuendos and aspersions without clarification or context. Don’t care or just would rather not question, or is this a sensitive subject that makes you go off?

I honestly do not care in any way about this topic.

A simple "Would you care to expound or provide more details about your claim?" would have been sufficient. But your response, as with so many of your posts, is unnecessarily condescending and patronizing. Try talking with people instead of at them.

I'll read whatever response you might have and try to understand it from your perspective, but I'll let that be the final public word in this discussion since I'm the one publicly calling you out.

[sooner88]

I don’t believe a defense is mounted in a grand jury hearing. It’s purpose isn’t to render a decision, just to discover if there is enough evidence to bring formal charges with a likelihood of conviction. As for the perjury being claimed, perjury to a grand jury is a very serious charge. So, one side or the other is in deep stuff. If the prosecutor hasn’t done enough background to insure against a witness giving false testimony that can’t be corroborated, it is very sloppy work. If it was deliberate collusion, then this really is a big story.

I can possibly go into more detail after this is resolved, but from everything I know there will be no plea deal as they have documented everything the person I referenced testified to is false. This person is trying to save his ass, and there are ulterior motives from CLR. This will be played out as long as possible to drain cash from the defendants, which is CLR’s MO in addition to multiple other things that will come out in the following months.

[PhiAlpha]

I honestly do not care in any way about this topic.

A simple "Would you care to expound or provide more details about your claim?" would have been sufficient. But your response, as with so many of your posts, is unnecessarily condescending and patronizing. Try talking with people instead of at them.

I'll read whatever response you might have and try to understand it from your perspective, but I'll let that be the final public word in this discussion since I'm the one publicly calling you out.

Yeah I’m with you...that was out of line.

[Rover]

I can possibly go into more detail after this is resolved, but from everything I know there will be no plea deal as they have documented everything the person I referenced testified to is false. This person is trying to save his ass, and there are ulterior motives from CLR. This will be played out as long as possible to drain cash from the defendants, which is CLR’s MO in addition to multiple other things that will come out in the following months.

Isn't the CLR suit separate? I doubt the FBI is colluding with CLR to drain their cash. It's one thing to have a civil suit, and quite another for the FBI to get involved and take it to a GJ. FBI investigations are usually pretty extensive and they are pretty sure of what they have before they ever suggest taking it to a GJ. That's why Pete pointed out that GJ charges result in about a 93% conviction rate. So, I still question why the FBI would be so sloppy as to rely solely on a witness that you claim is easily dismissed or easily proven to have given fraudulent testimony. Just curious. Sloppy or vindictive? Obviously you aren't going to give inside information, but maybe you can shed light on the FBI and what you believe their motives.

[Rover]

Yeah I’m with you...that was out of line.

When it was called a "witch hunt", the implication is that there are nefarious reasons for there to be charges. One side can make big unsubstantiated claims but you guys are offended when someone calls them on it? Seriously.

[thunderbird]

Gettin spicy in here. How bout that price of oil? Anyone see a good rebound before winter?

[PhiAlpha]

When it was called a "witch hunt", the implication is that there are nefarious reasons for there to be charges. One side can make big unsubstantiated claims but you guys are offended when someone calls them on it? Seriously.

Not the call out but the way it was done which is exactly what Teo said.

[Rover]

Not the call out but the way it was done which is exactly what Teo said.

So, what of this is out of line? "Seems like this should be pretty straight forward with documents and forensic accounting work. Doubt they would be indicted if a trail leading to them hasn't been established already. But, you seem to be saying that those documents and other traces are being fraudulently created in order to make it APPEAR they are guilty? Are you just vouching for their personalities as you know them, or are you privy to evidence?"

[gopokes88]

Good news for the OK oil patch. Activity will pick up by at least 50% next year.

Bad news, that means going from 10 rigs to 15.

[OkiePoke]

@GoPokes88 What is going on with Horizontal Well Drillers? Last I knew they were still working in Venezuela, is that still true? I drove by their yard the other day and it seemed bare.

[sooner88]

@GoPokes88 What is going on with Horizontal Well Drillers? Last I knew they were still working in Venezuela, is that still true? I drove by their yard the other day and it seemed bare.

https://oklahoman.com/article/565232...enezuelan-play

[DKG]

Everyone deserves the presumption of innocence and I've only read some of the pleadings in the civil case. That said, there likely won't be a trial in which any testimony will be heard. These cases will probably end with the defendants taking a deal and pleading guilty.

Agree with this. I bet the ultimate goal now will be to string this along for a while while trying to work out a favorable deal.

[Lafferty Daniel]

I'm not sure how someone can claim they're innocent when a person who has been dead since the 1980s suddenly deeds their mineral interest to someone's company. But I guess we'll see once the facts come out.

[Pete]

I have to say this is such a metaphor for Oklahoma news.

And because we all know each other -- especially in the business community -- there is always ALWAYS the "but he's a good guy so it can't be true" reaction.

In the criminal world, those who know the alleged perpetrator always swear up and down their friend/former coworker/loved one/spouse could never commit such a terrible crime. Then, when bodies start getting hauled out of the crawl space, the wife of 20 years still refuses to believe it. Cue the neighbor: "He was so quiet and polite".

Bernie Madoff's own sons worked along side him for decades and never knew he was running the biggest Ponzi scheme of all time.


As I said, I don't know any of the people involved but I can tell you when there is a grand jury indictment, it's pretty much a conviction which is why prosecutors take that route to begin with. The only variable is the deal that is struck after the inevitable guilty plea.

[sooner88]

I have to say this is such a metaphor for Oklahoma news.

And because we all know each other -- especially in the business community -- there is always ALWAYS the "but he's a good guy so it can't be true" reaction.

In the criminal world, those who know the alleged perpetrator always swear up and down their friend/former coworker/loved one/spouse could never commit such a terrible crime. Then, when bodies start getting hauled out of the crawl space, the wife of 20 years still refuses to believe it. Cue the neighbor: "He was so quiet and polite".

Bernie Madoff's own sons worked along side him for decades and never knew he was running the biggest Ponzi scheme of all time.


As I said, I don't know any of the people involved but I can tell you when there is a grand jury indictment, it's pretty much a conviction which is why prosecutors take that route to begin with. The only variable is the deal that is struck after the inevitable guilty plea.

A majority of the indictment is centered around testimony from an individual who negotiated a plea deal by testifying against several people, including his own brother. Obviously the grand jury heard enough information from him to pursue the indictment, but the credibility of this individual is highly questionable. It will be up to the U.S. Attorney's office to review the evidence from the defense teams to determine whether they really want to pursue a trial.

[Pete]

A majority of the indictment is centered around testimony from an individual who negotiated a plea deal by testifying against several people, including his own brother. Obviously the grand jury heard enough information from him to pursue the indictment, but the credibility of this individual is highly questionable. It will be up to the U.S. Attorney's office to review the evidence from the defense teams to determine whether they really want to pursue a trial.

This is how virtually every criminal case works.

And the jury decides what testimony is credible.

[Teo9969]

Brent looks like it's going to be down 5 days in a row for the 1st time since before Covid, flirting with closing under $40.

[Anonymous.]

Oil solidly back under $40 barrel heading into October. Any predictions on further mergers? A la DVN and WPX.

All OKC producers have to sweating, is it possible OKC may have only 1-2 major corps left when the dust is settled? You have to think all that new office space sitting empty over in the Devon Tower and BOKP is looking pretty cost-savingish.

[gopokes88]

CLR probably buys someone.

Hearing lots of conflicting information about CHK, not sure what will happen there.

The big 3 likely survive.

[StrongCider]

Gulfport filed for Ch.11. Initial hearing today in Southern District of Texas.

http://https://www.gulfportenergy.com/restructuring

[Anonymous.]

Close to $50 barrel. Vaccine hopes driving this recent rally in price. With cases exploding and regions tightening restrictions, it is some very shaky ground that oil is under.

[Bellaboo]

I wish it would get to $55 and hold it for a while. Friend of mine was layed off yesterday. He had been with his company for over 15 years.