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re: Where do you see o&g headed in the future?
Posted on 3/13/14 at 3:15 pm to lsugradman
Posted on 3/13/14 at 3:15 pm to lsugradman
quote:
Ehh the US East Coast doesnt really have the geologic components to be a hotbed of potential oil accumulations. The West Coast does but the politics on that side of the country are gonna make it nearly impossible to do business out there.
This. The hot beds will be locations with viable oil reserves. Niobrara will likely be the next that is developed in the US. We already have a glut of natural gas and consumption rates will only increase gradually.
California has an enormous unconventional oil play between LA and San Francisco but they will never allow it to be touched.
Deep water will continue as is.
The Artic will see an increase in activity, but nothing substantial.
If oil prices go high enough you may see interest in the green river formation.
US plays average much lower BOPD rates than most overseas plays. Except for deepwater GOM. So that means we need to invest much more heavily in infrastructure and drill many more wells to get the same production rates. For example I drilled one well recently that produces the equivalent of 10 Bakken or Eagle Ford wells (20 or more TMS wells).
3
Posted on 3/13/14 at 3:19 pm to redstick13
if they started drilling the Monterey Shale I'd go in a heartbeat
Posted on 3/14/14 at 10:18 am to redstick13
quote:
This. The hot beds will be locations with viable oil reserves. Niobrara will likely be the next that is developed in the US. We already have a glut of natural gas and consumption rates will only increase gradually. California has an enormous unconventional oil play between LA and San Francisco but they will never allow it to be touched. Deep water will continue as is. The Artic will see an increase in activity, but nothing substantial. If oil prices go high enough you may see interest in the green river formation. US plays average much lower BOPD rates than most overseas plays. Except for deepwater GOM. So that means we need to invest much more heavily in infrastructure and drill many more wells to get the same production rates. For example I drilled one well recently that produces the equivalent of 10 Bakken or Eagle Ford wells (20 or more TMS wells).
Thanks for the reply..I think deepwater is here to stay as long as no more Macondo incidents happen. I am faced with the choice to work in either deepwater or unconventional, and it's a pretty tough decision.
Posted on 3/15/14 at 6:24 am to redstick13
quote:
Niobrara will likely be the next that is developed in the US.
Very actively being developed by anadarko and noble. The leasing rush came and went. Basically old news at this point.
quote:
California has an enormous unconventional oil play between LA and San Francisco but they will never allow it to be touched.
Monterey shale...guess what several companies have been drilling. The problem is thermal immaturity - it doesn't work.
quote:
If oil prices go high enough you may see interest in the green river formation.
Doesn't work. Prices would have to go through the roof and even then...either shell or XOM gave up on trying to figure out how to extract and the other is still trying. Maybe tech gets there in nxt 20.
I don't know exactly what the OP is looking for but currently all the money is chasing unconventional. Deep water and international is for the majors. Trend for independents has been to sell international and concentrate on domestic core plays. I think the next big step is a lot of M&A work.
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