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Started By
Message
re: Breaking. Largest oil find in US history jut made
Posted on 11/16/16 at 3:51 pm to LSU Weirdo
Posted on 11/16/16 at 3:51 pm to LSU Weirdo
Nm
This post was edited on 11/16/16 at 3:52 pm
0
Posted on 11/16/16 at 4:03 pm to Jjdoc
Strategically, this is a great thing thinking about the long game.
No way that reserve is going to be drilled aggressively considering oil prices.
No way that reserve is going to be drilled aggressively considering oil prices.
Posted on 11/16/16 at 4:05 pm to HubbaBubba
quote:
Wait. Didn't some Saudi sheik warn Trump the other day NOT to stop importing Saudi oil?
This has got to be sobering news for the Saudi folks.
The Alliance with Saudi is not going to harmed by this at all.
Posted on 11/16/16 at 4:05 pm to Bjorn Cyborg
Peak oil was the global warming crisis before climate change...
Posted on 11/16/16 at 4:09 pm to IceTiger
I friend of mine wanted to send me a book and a vid on the coming doomsday(already past) called peak oil.
Posted on 11/16/16 at 4:09 pm to Zahrim
quote:
Odessa and Midland are the cities that already exist out here. I live in McCamey, 50 miles south of Odessa. Doesn't matter how much oil they just found, Eagle Ford has barely been touched here in the permian basin and most of the well heads on my drive into town on Saturday were not operating and have not been operating for the last 6 to 8 months. There is plenty of oil but they are not pumping beyond minimal production.
I previously read it was near a place called Fort Davis, but it's like 500 miles from there. Thought it would be a bit too far for Midland/Odessa, but that's not the case. You know they're doing some heavy drinking in all 3 bars of Midland.
This post was edited on 11/16/16 at 4:10 pm
Posted on 11/16/16 at 4:15 pm to flyAU
quote:
off topic but I just realized that the colonial pipeline that has blown up in Bama goes through my backyard. I am sitting 50 feet from it.
Meh. That's not a pipeline explosion. (Said in Crocodile Dundee voice.)
That's an explosion. China. I have some decent experience in pipeline construction, including in China. If you ever see a Pipeline Path sign there (which is highly doubtful), I suggest you don't stand anywhere close to it. My Mandarin is rough, but I am pretty sure the mentality is, "Padding? We don't need no stinking padding." (Said in Cheech Marin voice.)
Posted on 11/16/16 at 4:17 pm to cwill
We have gotten D&C costs down since the price tumble (several operators have reduced drilling time to about half), but I don't see much Wolfcamp drilling taking place with mid-40s oil.
Not while the 2nd & 3rd Bonespring in Delaware Basin is making pay.
Maybe some Wolfcamps to hold some depth-severanced acreage. Also some to be able to see what true production would be like and to gather data. Definitely some Wolfcamp apraisal wells being drilled right now, but just don't think it'll be all out blow and go just yet.
Get WTI around 60, then it'll be on. Gold truck nuts for everyone.
Not while the 2nd & 3rd Bonespring in Delaware Basin is making pay.
Maybe some Wolfcamps to hold some depth-severanced acreage. Also some to be able to see what true production would be like and to gather data. Definitely some Wolfcamp apraisal wells being drilled right now, but just don't think it'll be all out blow and go just yet.
Get WTI around 60, then it'll be on. Gold truck nuts for everyone.
This post was edited on 11/16/16 at 4:18 pm
Posted on 11/16/16 at 4:17 pm to Jjdoc
Pretty sure Apache has been ahead of the game on this one and has most of that area leased up already. They are about to make bank if this does pan out.
Posted on 11/16/16 at 4:20 pm to texastigers11
Apache has to gather up a load of capital for infrastructure costs to drill and aggressively produce that Alpine stuff.
Need to build a pipeline from out there because trucking all that oil would eat away at profits.
Need to build a pipeline from out there because trucking all that oil would eat away at profits.
Posted on 11/16/16 at 4:26 pm to cwill
quote:
but APA pumped the oil hoping it would move their stock IMV.
Wow. Didn't know this was legal.
Posted on 11/16/16 at 4:28 pm to Jjdoc
This sucks because Texans don't give a damn about Paleontology.
Here in Louisiana, we love Paleontology.
Here in Louisiana, we love Paleontology.
Posted on 11/16/16 at 4:28 pm to HubbaBubba
quote:
Wait. Didn't some Saudi sheik warn Trump the other day NOT to stop importing Saudi oil? This has got to be sobering news for the Saudi folks.
We don't import hardly any oil from the middle East.
Most comes From Canada, followed by South American countries.
Posted on 11/16/16 at 4:30 pm to highcotton2
No.
This is the newest assessment (11/15/16).
USGS Press Release
This is the newest assessment (11/15/16).
USGS Press Release
This post was edited on 11/16/16 at 4:33 pm
Posted on 11/16/16 at 4:39 pm to ragincajun03
quote:
Apache has to gather up a load of capital for infrastructure costs to drill and aggressively produce that Alpine stuff.
Need to build a pipeline from out there because trucking all that oil would eat away at profits.
It's really a gas play...there's no infrastructure (pipelines) out there so what's going to happen at $2.70 (not considering differentials) gas?
Posted on 11/16/16 at 4:41 pm to cwill
So it's oil and not shale? Good.
Posted on 11/16/16 at 4:53 pm to ragincajun03
quote:
Yes, this is a shite ton of oil. However, at the current WTI price, not really worth drilling and producing.
I worked out of Tyler back in the day. What's the WTI price/bbl that provides the necessary margin to drill and produce?
Posted on 11/16/16 at 5:02 pm to AjaxFury
quote:
So it's oil and not shale? Good.
It's gas and it's a Hz, multi-stage frac play...it is a shale. The wells will be gas wells with a pretty low oil/gas ratio.
Posted on 11/16/16 at 5:05 pm to larry289
This find was announced over 6 weeks ago by Apache and the EURs are substantial enough to weather a $15/Boe price -huge infrastructure costs to deliver to market but nonetheless a definite company-maker according to analysts.
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