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Posted on 6/1/21 at 8:02 pm to TBoy
lol u openly support biden hahahahahahahahahahahaha
idiot
keep gaslighting bitch
idiot
keep gaslighting bitch
Posted on 6/1/21 at 8:12 pm to Zahrim
Posted on 6/1/21 at 8:54 pm to NPComb
quote:
Yep. We won't drill, another country will and we will pay them.
I believe we should lease out the best parts of ANWR and generate revenues and production.
That said, are you saying that the Department of Interior is going to cancel these oil & gas leases at stake, then lease those same tracts to “another country”? We’re going to grant the leases to someone like China, Iran, Armenia, etc??
Posted on 6/1/21 at 8:57 pm to Crimson Wraith
Look, it's simple.
If we aren't buying lots of foreign oil, how the hell are Joe and the rest of the criminals in DC supposed to get kickbacks and bribes from foreign countries?
Think about our politicians. They aren't stupid. They're just counting on half of the country being fools. It's a good bet.
If we aren't buying lots of foreign oil, how the hell are Joe and the rest of the criminals in DC supposed to get kickbacks and bribes from foreign countries?
Think about our politicians. They aren't stupid. They're just counting on half of the country being fools. It's a good bet.
Posted on 6/1/21 at 8:58 pm to CitizenK
quote:
Wraith Rig Count is up by a lot since a year ago. USA rig count is 2/3 pf the rest of the world
What is the rig count? And what is the new permitting? Land.
Posted on 6/2/21 at 6:42 am to Nephropidae
Drilling rigs actively drilling oil wells.
Anyone in Louisiana and Texas should understand the importance of rig count. Still 1/3 of what it was in early 2014 before the price collapsed to below $80 per barrel and many, if not most indie oil companies were forced into bankruptcy.
Rig count is up over 150 active drilling rigs from a year ago, and it is all due to price of a barrel of oil, nothing more and nothing less.
Anyone in Louisiana and Texas should understand the importance of rig count. Still 1/3 of what it was in early 2014 before the price collapsed to below $80 per barrel and many, if not most indie oil companies were forced into bankruptcy.
Rig count is up over 150 active drilling rigs from a year ago, and it is all due to price of a barrel of oil, nothing more and nothing less.
This post was edited on 6/2/21 at 6:51 am
Posted on 6/2/21 at 7:20 am to CitizenK
Your hardcore Trumpists are about as brain dead as your hardcore Obamanites.
No way they really understand O&G drilling and development planning, trends and operations. All they know is if it’s good, it’s completely their guy’s credit. If bad, the other guy’s fault.
No way they really understand O&G drilling and development planning, trends and operations. All they know is if it’s good, it’s completely their guy’s credit. If bad, the other guy’s fault.
Posted on 6/2/21 at 7:33 am to Crimson Wraith
Oil is rebounding as demand is predicted to outstrip supply for the first time in 5 years.
Demand is also predicted to exceed the amount that it was before the pandemic Began.
That has to be be heartbreaking for the environmentalists
Demand is also predicted to exceed the amount that it was before the pandemic Began.
That has to be be heartbreaking for the environmentalists
Posted on 6/2/21 at 1:33 pm to SlidellCajun
Also check out XES which holds oil and gas equipment companies. It’s up over 8% today but it’s been down so long the ground looks like the sky
Posted on 6/2/21 at 1:35 pm to Crimson Wraith
quote:
Uncle Joe removes more gas and oil capacity from America
Yeah but thanks to 'Moderate Republicans' we don't have to deal with mean tweets!
Posted on 6/2/21 at 1:50 pm to Crimson Wraith
You should expect that he is going to throw a wrench into the oil and gas business. That's what democrats do when they are elected. If a republican manages to get elected again and the senate and house flip GOP then the ANWR will be opened again.
Posted on 6/2/21 at 3:35 pm to ragincajun03
I have friends out West who are surrounded by Bureau of Land Management property which keeps oil companies from developing known resources on their land. Just not enough to produce from to drill any wells on their land and develop a field.
Posted on 6/2/21 at 4:49 pm to CitizenK
Curious...
What state are your west friends in
Federal parks??? Which ones ??
What state are your west friends in
Federal parks??? Which ones ??
Posted on 6/2/21 at 4:57 pm to CitizenK
I am real curious after reading more...
Your friend has private land and can not drill on it???he should be able to drill a well and drain the “known production”...if the feds do not want to create a unit and capture the value of the resources under their land he should be able to drain the reservoir...
Something I am not understanding...I hope your friends get in touch with a lawyer...
You have the right to capture the resources in the ground on your land if you have the mineral rights...
If no oil company wants to drill because his part of the unit is not enough resource then it is just economics
Your friend has private land and can not drill on it???he should be able to drill a well and drain the “known production”...if the feds do not want to create a unit and capture the value of the resources under their land he should be able to drain the reservoir...
Something I am not understanding...I hope your friends get in touch with a lawyer...
You have the right to capture the resources in the ground on your land if you have the mineral rights...
If no oil company wants to drill because his part of the unit is not enough resource then it is just economics
Posted on 6/2/21 at 5:09 pm to Thecoz
One last comment...there are small operators that make a living “busting units” ...they find small tracts of minerals in known areas and lease them and drop a well in (feds require set feet from edge of lease to place the well...sorta recall 220 feet...???... if your friend can find a unit buster and the offset distance keeps him in the known production he may still be able to capture his resources(and others based on what some of these guys do)
Posted on 6/2/21 at 6:01 pm to Thecoz
quote:
What state are your west friends in
That makes a difference right now. New Mexico's BLM head office has mostly resumed a "business as usual" operation until put on further notice by Washington, D.C.
Federal APD are being approved and wells involving Fed minerals and/or Fed surface are being drilled.
There certainly is hesitation amongst operators to throw tons of capital out there and run back up to pre-COVID D&C measures, even with WTI currently in mid to high 60s, but that seems to have mostly to do with the tumble in in the Spring 2020 that put everyone on the financial brink.
Posted on 6/2/21 at 6:09 pm to Thecoz
quote:
If no oil company wants to drill because his part of the unit is not enough resource then it is just economics
These days operators are wanting to drill 1.5 to 2.5 mile laterals. If he's only got say...a 320 rectangle, then that's only half a mile lateral at the most.
There has been a pause on new federal lease sales, so maybe the Fed tract adjacent to him that the operator of his mineral lease needs just isn't able to bid and acquire right now.
That does suck; however, the pausing of lease sales AT THIS TIME is not going to cause a shortage of production and a huge runup in oil prices and gasoline prices. There in more than enough already leased lands and permitted or soon to be permitted wells to drive the price per barrel down to $20 for the time being if operators wanted to piss away capital. That's just not going to happen.
How if that pause carries on for multiple years and there is a hard halt on new permits and ROWs through Fed Lands, then that could definitely lead to a shortage of inventory and production. Permian, Powder River and DJ all contain a pretty significant percentage of Fed lands.
Posted on 6/2/21 at 6:14 pm to ragincajun03
Figured it was nm ...only basin with unconventional overlapping any fed land of significance...industry moved into nm unconventional after hitting other basins in area...feds are not stopping any drilling on his land.just economics at the moment ..people impacted are nm taxpayers since they are not getting impact of royalties...
He is being impacted by Saudi’s more than anyone else.,...they opened their valve and drove the independents out of business...mine being one of them...with price coming back...I would imagine nm will be back on track shortly...state needs that royalty check and impacts a lot of citizens...the no fracking on fed land will be the sticking point but if your friend has private land in a no fracking area maybe he will get a premium:)...good luck to him...his payday will come
Posted on 6/2/21 at 6:18 pm to Crimson Wraith
The world is going to use x amount of oil tomorrow and for the foreseeable future. These stupid arse motherfrickers want to “put the cart in front of the horse” so fast with the green energy…and it’s not even close to being able to handle it. Running of a cliff yelling I can fly!!!!
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