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Posted on 9/13/16 at 7:45 am to redstick13
quote:
It's bad for the out of work US baws. You will just continue to push down the price of WTI.
Unlikely to have any immediate pricing impact. It will extend the slump though since Apache can start drilling any time prices edge above $60.
There's already a lot of undrilled oil out there anyway, so I'm not sure how much it really matters.
This post was edited on 9/13/16 at 7:46 am
Posted on 9/13/16 at 7:47 am to Jim Rockford
Them Saudi baws gonna be mad as frick that we southern baws finna eat.
Posted on 9/13/16 at 7:48 am to Bullfrog
quote:
I heard it was going to sit until West Texas crude went above $60.
This is actually pretty smart, from a ROI standpoint.
Posted on 9/13/16 at 7:50 am to CorporateTiger
quote:
It will extend the slump though since Apache can start drilling any time prices edge above $60.
quote:
Apache so far has drilled 19 wells as it sought to define the potential of the resource; nine of those wells are currently producing.
Posted on 9/13/16 at 7:57 am to Steadyhands
Exploratory wells. That is basically a drop in the bucket.
Then they are drilling 6-12 per pad, then you will see material amounts of production from this play.
Then they are drilling 6-12 per pad, then you will see material amounts of production from this play.
Posted on 9/13/16 at 8:01 am to CorporateTiger
But here lies the problem. You have an oversupply problem. How long do you expect WTI to stay above $60 when the U.S. increases production again?
This is going to be a multi-year rollercoaster ride trying to balance supply and demand. Especially when all those DUCs go online.
This is going to be a multi-year rollercoaster ride trying to balance supply and demand. Especially when all those DUCs go online.
Posted on 9/13/16 at 8:03 am to redstick13
You are completely right. We are going to see a bunch of price increases until shut-in wells are turned on and/or new wells are drilled. That will push the price right back down to 45.... rinse and repeat.
Posted on 9/13/16 at 8:06 am to East Coast Band
quote:
How are we just now finding this?
The old school geologists were pretty terrible at theirs jobs. The new blood that graduates now a days knows more/better techniques
This post was edited on 9/13/16 at 8:07 am
Posted on 9/13/16 at 8:07 am to CorporateTiger
quote:
Then they are drilling 6-12 per pad, then you will see material amounts of production from this play.
There have started to drill more horizontal wells in the Permian haven't they? What are the MD and TVD of these wells? One area I never really worked.
quote:
The old school geologists were pretty terrible at theirs jobs.
come on they had to lick the rocks to tell what they were. give em a break
This post was edited on 9/13/16 at 8:08 am
Posted on 9/13/16 at 8:14 am to Nado Jenkins83
It's a wet gas play guys. Not an oil play.
Posted on 9/13/16 at 8:14 am to raw dog
quote:
It's a wet gas play guys. Not an oil play.
i know. that didn't answer my question
Posted on 9/13/16 at 8:16 am to Nado Jenkins83
quote:
There have started to drill more horizontal wells in the Permian haven't they?
Yes. The development pads look something like this
Having six producing wells across a whole play is nothing more than exploration/appraisal.
quote:
What are the MD and TVD of these wells?
It's a stacked play so it depends what they are targeting. I don't know the numbers off my head but there are up to 4 plays out there,so could be a big range.
Posted on 9/13/16 at 8:20 am to CorporateTiger
any chance for multi laterals in the future?
Im guessing about 400' spacing at a minimum between the laterals. I help optimize some S wells out there about 5 years ago. but only because someone was on vacation
Im guessing about 400' spacing at a minimum between the laterals. I help optimize some S wells out there about 5 years ago. but only because someone was on vacation
Posted on 9/13/16 at 8:22 am to raw dog
I assume once the GTL facilities are up and running, NG prices will rise when the exports begin.
Posted on 9/13/16 at 8:22 am to Nado Jenkins83
So the bottom line is Apache is a good company to apply for. 
Posted on 9/13/16 at 8:24 am to Wimp Lo
quote:
So the bottom line is Apache is a good company to apply for.
depends if you like west texas
Posted on 9/13/16 at 8:28 am to thegreatboudini
quote:
General Estimate? Permian Basin Average?
General estimate from article. No experience in the Permian.
quote:
Not a chance. 20% at best, 12-14% is most likely.
I'm including EOR.
Posted on 9/13/16 at 8:28 am to Jim Rockford
Keep it around $2 a gallon and start drilling. These boys need to get back to work.
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