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re: Where do you see o&g headed in the future?
Posted on 3/16/14 at 8:51 pm to cwill
Posted on 3/16/14 at 8:51 pm to cwill
quote:
Very actively being developed by anadarko and noble. The leasing rush came and went. Basically old news at this point.
It has barely been touched in the western parts of the formation. I live in the area and follow it.
quote:
Monterey shale...guess what several companies have been drilling. The problem is thermal immaturity - it doesn't work
I worked there 6 months last year. There is almost no drilling going on and California is flat out refusing to allow fracking. They also just put in some ridiculous permit procedures.
quote:
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.
Yes prices would need to go up much higher. I said that in my post. Exxon pulled out in the 80"s but they were only ex-situ. Shell was leading the in-situ charge but shut down after drilling a second project last year. Chevron has plans to try their in-situ process.
This post was edited on 3/16/14 at 8:54 pm
1
Posted on 3/17/14 at 11:54 pm to redstick13
quote:
It has barely been touched in the western parts of the formation. I live in the area and follow it.
Hasn't been touched in the west because it doesn't work. If you follow it you should know.
quote:
I worked there 6 months last year. There is almost no drilling going on and California is flat out refusing to allow fracking. They also just put in some ridiculous permit procedures.
That's just incorrect, fracking is permitted, efforts to ban failed. The Monterey doesn't work.
quote:
Yes prices would need to go up much higher.
Maybe over $250/bbl....there is no good, clean way to extract it at this point.
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