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Started By
Message
re: Possible big oil discovery in Israel
Posted on 10/8/15 at 4:41 pm to retired trucker
Posted on 10/8/15 at 4:41 pm to retired trucker
You won't run "out of oil." You will eventually run out of oil that it makes sense to produce.
At some point you put more energy into finding and producing the oil than you get out of the oil you produce.
At some point you put more energy into finding and producing the oil than you get out of the oil you produce.
Posted on 10/8/15 at 4:46 pm to Darth_Vader
Well, I guess the whole "We're Israel's best friend, but are they ours?" question might get answered definitively now.
Posted on 10/8/15 at 4:49 pm to Darth_Vader
quote:
Vast oil reserves have been discovered in Israel that could transform the country into world energy power and change the face of the Middle East for years to come.
Afek Oil and Gas, an Israeli subsidiary of the U.S. company Genie Energy, said the breakthrough came in the Golan Heights, near the border with Syria.
Yuval Bartov, the firm's chief geologist, said there was 'enormous excitement' about the immense wealth it could bring to the Jewish state, which has long yearned for its own resource of 'black gold'.
Good that just means they have $$$ to buy weapons with.
Posted on 10/8/15 at 4:56 pm to GeauxxxTigers23
quote:
I say we invade
We want, but Russia and it's allies will. Read all about it in Ezekiel 38 & 39.
Posted on 10/8/15 at 4:56 pm to mizzoukills
quote:
couldn't Syria and Russia simply tap the reserve from within Syria and steal oil from the Jews?
You can't outjew the Jews.
Posted on 10/8/15 at 5:10 pm to mizzoukills
quote:
couldn't Syria and Russia simply tap the reserve from within Syria and steal oil from the Jews?
No. Not really. It is (almost certainly) tight oil. You have to drill it horizontally and then frack it.
Posted on 10/8/15 at 5:38 pm to Street Hawk
quote:
Can someone who is more knowledgable put this in context for us? What kind of reserves are we talking about here? How many millions of barrels? How does it compare to let's say Saudi Arabia's reserves or Canadian Oil Sands for example?
They've got 96000 acres under lease (license). They say it is "up to 350 meters" thick.
Using average thickness of 200 meters across the whole zone, five percent porosity, fifty percent water sat, and a .25 RF . . .
you could in your wildest dreams say that there are two to three billion barrels of oil that could be produced.
There is exactly zero chance that it could be that much. Hell, I didn't even account for gas. And there is about an equal chance that my calculations are right in the first place. Perhaps an actual engineer could take a look.
Posted on 10/8/15 at 6:27 pm to GeauxxxTigers23
quote:
I say we invade
Well played!
Posted on 10/8/15 at 6:35 pm to thegreatboudini
quote:
I agree that it was extremely vague and made many people believe it was an industry altering find.
Hence why I asked about porosity and perm.
I guess that was my "give me all the details" side kicking in.
Was interesting they said nothing about the porosity and perm.
You can find oil all day long, but if you have 200# in the zone you are trying to produce, It isn't happening. Also would be nice to know what the depth is of the formation and then figuring what virgin reservoir pressure should be, then look at the data from one of the first drilled wells in that area.
Will be interesting to find out going forward what this does.
Posted on 10/8/15 at 6:42 pm to Boagni Swamp
quote:
Toledo Ben
The famous lake monster????
Posted on 10/8/15 at 6:48 pm to Darth_Vader
How does this affect my BP and XOM stock over next 20 years?
Posted on 10/8/15 at 7:22 pm to windshieldman
Yes. They will return to 2014 levels at some point during that time frame.
Posted on 10/8/15 at 7:26 pm to Boagni Swamp
quote:
Yes. They will return to 2014 levels at some point during that time frame.
2-3 times probably
Posted on 10/8/15 at 7:27 pm to Boagni Swamp
Lets just take it from them and turn it into Texas Middle East.
We could even have a Football team TME
We could even have a Football team TME
Posted on 10/8/15 at 8:03 pm to tigerinthebueche
I remember learning about "peak oil" in high school back in ~2005. LOLz.
Posted on 10/8/15 at 8:30 pm to Hawgeye
quote:
Also would be nice to know what the depth is of the formation
Can't be too deep based on well cost.
Posted on 10/8/15 at 8:34 pm to Boagni Swamp
Motherfrickers need some democracy brought with the quickness. Come get your purple finger heebs
Posted on 10/8/15 at 8:37 pm to Darth_Vader
Whoa!! Let's invade and occupy Israel now!!
Posted on 10/8/15 at 8:42 pm to jamboybarry
quote:
Come get your purple finger heebs
Dafug?
Posted on 10/8/15 at 8:44 pm to Boagni Swamp
quote:
quote:
Come get your purple finger heebs
Dafug?
Did I stutter?
Juice bout to get liberated shock and awe style.
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