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re: ‘Drill, Baby, Drill!' Will Secure American Prosperity For The Twenty First Century
Posted on 3/12/24 at 11:56 am to ragincajun03
Posted on 3/12/24 at 11:56 am to ragincajun03
quote:
As we move from this “easy” top-tier acreage, we’re going to have to move to more challenging, costlier to produce, and either they will require price per barrel points that are higher than what companies like for our current top tier fields, or, technology will have to progress so that the price point isn’t much higher.
we could also see reduced supply as top tier acreage gets drilled out, elevating prices and break evens
2
Posted on 3/12/24 at 12:26 pm to hubertcumberdale
quote:
we could also see reduced supply as top tier acreage gets drilled out, elevating prices and break evens
Agree. No matter who is President, I don’t think oil companies who have to worry about returning value to their shareholders in order to keep getting their projects funded are intentionally going to drill baby drill themselves to $30 oil.
Posted on 3/12/24 at 1:31 pm to hubertcumberdale
We do have a supply of top tier offshore on The Shelf off Florida but it's off limits because of Florida.
Interesting that there is a very recent oil spill off of Huntington Beach, CA, but found to be from natural seepage.
Any tar balls on Gulf Coast beaches, including Florida have always been from natural seepages, which declined a lot the last half of the 20th century due Shelf production removed formation pressure causing those anywhere near shore to stop
Interesting that there is a very recent oil spill off of Huntington Beach, CA, but found to be from natural seepage.
Any tar balls on Gulf Coast beaches, including Florida have always been from natural seepages, which declined a lot the last half of the 20th century due Shelf production removed formation pressure causing those anywhere near shore to stop
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