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Posted on 11/16/16 at 2:44 pm to member12
quote:Talk's cheap. I've heard stories like this before. Wait and see.
20 billion barrels.
Posted on 11/16/16 at 2:46 pm to BlackHelicopterPilot
Odessa is BACK.
MOJO football on the rise.
MOJO football on the rise.
Posted on 11/16/16 at 2:47 pm to Jjdoc
Awesome for Texas! Looks like they're going to have to start building a large town there now!
Posted on 11/16/16 at 2:52 pm to OMLandshark
Im packed already! 15$ burgers!!! 4$ fries!! 3$ bottled water!
Coffee.... free with purchase of breakfast platter!
Coffee.... free with purchase of breakfast platter!
Posted on 11/16/16 at 2:54 pm to Jjdoc
I used to have to argue with liberals in college about peak oil. It's funny that NO ONE on the left mentions that any more.
Matt Damon: It's running out!
Matt Damon: It's running out!
Posted on 11/16/16 at 2:58 pm to OMLandshark
quote:
Looks like they're going to have to start building a large town there now!
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.
Posted on 11/16/16 at 2:59 pm to mofungoo
This is a different find. Your link was published Sept 8th. The Apache find near Alpine is different than the just announced announced yesterday. In addition to these two there is also in the Permian Basin a formation (Cline) that is believed to have over 30 Billion barrels.
LINK
LINK
This post was edited on 11/16/16 at 3:04 pm
Posted on 11/16/16 at 2:59 pm to mule74
Yep! I believe we have invest into knew energy sources. We will needs those as we populate the universe!
Posted on 11/16/16 at 3:08 pm to Jjdoc
Truck nuts for errybody.
Posted on 11/16/16 at 3:13 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 don't live in texas, but this is probably only good news for consumers and china. a large discovery is going to keep oil prices down for a long period of time.
Posted on 11/16/16 at 3:17 pm to Hawkeye95
Truck nuts unite!
F-150, RAM, Silverado baws mount up!
F-150, RAM, Silverado baws mount up!
Posted on 11/16/16 at 3:34 pm to Jjdoc
drill baby drill
Posted on 11/16/16 at 3:38 pm to Jjdoc
quote:
All I'm telling you is what fox business just announced as discovered today.
Most people don't know wtf they're talking about when it comes to the energy business.
Posted on 11/16/16 at 3:39 pm to bamarep
quote:
Truck nuts for errybody.
More oil = lower prices = shriveling truck nut sales.
Posted on 11/16/16 at 3:40 pm to PerCuriam
quote:
Trump grabbed her by the pussy and she MAGAd!!
You're god damn right she did.
This post was edited on 11/16/16 at 3:41 pm
Posted on 11/16/16 at 3:41 pm to Jjdoc
Wolfcamp formation is deeper than your typical Bonespring (for Delaware Basin) and Spradberry (Midland Basin) wells that are the recent trend in Permian.
Yes, this is a shite ton of oil. However, at the current WTI price, not really worth drilling and producing.
Yes, this is a shite ton of oil. However, at the current WTI price, not really worth drilling and producing.
Posted on 11/16/16 at 3:44 pm to ragincajun03
quote:
Yes, this is a shite ton of oil. However, at the current WTI price, not really worth drilling and producing.
D&C costs are way down making the Wolfcamp (which isn't a "new" discovery) economic...the Eagle Ford is economic, too. Problem is if you push below $40 again...which could happen with the OPEC deal falling through and more wells in the Permian and EF being brought on at $44-$48 oil. Also I don't know how long service companies can keep taking it in the arse before they cry uncle and have to raise prices.
Posted on 11/16/16 at 3:44 pm to Jjdoc
I've seen recent projections that peak oil Demand is expected around 2035.
That's not the old peak oil (supply) that we've heard about for a long, that is demand.
peak oil demand
That's not the old peak oil (supply) that we've heard about for a long, that is demand.
peak oil demand
Posted on 11/16/16 at 3:51 pm to EKG
quote:
The largest oil deposit ever found in America was just discovered in Texas - Business Insider
Really? From the article:
quote:
More than 3,000 horizontal oil wells have already been drilled and completed in the Midland Basin Wolfcamp section, according to the USGS. To get the oil, producers fracture, or "frack," the earth below with a high-pressure liquid mixture to untap oil and gas from shale rock.
3,000 Hz later, everyone just realized what formation they were exploiting!
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