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Started By
Message
re: Administration cancels remaining oil and gas leases in Alaska’s Arctic Refuge
Posted on 9/7/23 at 9:47 am to redstick13
Posted on 9/7/23 at 9:47 am to redstick13
quote:
What’s driving the rig count down?
I think quite a few companies overspent their projected 1st half of year capital budgets and are just trying to figure how to reduce capital spend while still keeping production up.
1
Posted on 9/7/23 at 9:52 am to TygerTyger
quote:
Alaska in HUGE. People don't really understand how big it is. Especially liberal yankees from the east coast where you can drive for 2 hours and cross 3 state lines. The state is MASSIVE. And it's mostly just wilderness. acres and acres of wilderness. The technology and regulations used when drilling for oil cause the footprint to be microscopic compared to the size of the area. There's no DANGER TO THE ENVIRONMENT. That land rig is like a flea on a great dane's arse.
A drill or production rig’s footprint in ANWR is minuscule a few acres compared to the vastness of ANWR’s size. The Alaska Pipeline has proven we can produce and transport oil with a minimal footprint or impact on the Alaskan environment.
I forget the exact number but ANWR contains billions of barrels of easily recoverable oil. Not drilling or producing ANWR is a huge mistake and has been for a couple of decades.
Posted on 9/7/23 at 10:05 am to ragincajun03
quote:
I think quite a few companies overspent their projected 1st half of year capital budgets and are just trying to figure how to reduce capital spend while still keeping production up.
Makes sense. I’m chatting right now with a friend out there and he said they don’t understand why the count has dropped like it has. He’s looking to come do a project in the UK.
Posted on 9/7/23 at 10:09 am to redstick13
You realize this will raise gas prices right?
Posted on 9/7/23 at 10:22 am to TygerTyger
quote:
We should be doing everything within our power to be an energy independent country. Like we were under Trump.
what tf did trump have to do with the mass adaption of shale oil and hydraulic fracturing?
Posted on 9/7/23 at 10:22 am to LSUtiger89
quote:
You realize this will raise gas prices right?
How so? Explain to me in simple terms.
Posted on 9/7/23 at 10:23 am to redstick13
North Slope exploration season is in the winter, when the ice roads form and they can get the rigs out to location. Otherwise, it's all Marsh.
Posted on 9/7/23 at 10:33 am to redstick13
quote:
We have West Texas, leave Alaska be is my opinion. It doesn’t even move the needle on production.
As a proponent of becoming a net exporter of oil and gas there are some places I’m not in favor drilling. The Florida coast is another example.
Posted on 9/7/23 at 10:35 am to 3deadtrolls
quote:
North Slope exploration season is in the winter, when the ice roads form and they can get the rigs out to location. Otherwise, it's all Marsh.
Unless you build infrastructure.
Posted on 9/7/23 at 10:35 am to ragincajun03
I'd be curious to know what the people of Alaska want, don't care what the politicians want. I wonder if there's been surveys or townhalls etc about drilling in Alaska. I'll admit, I don't keep up with some of this stuff. I assume Alaskans want their state as natural as possible but I may be very wrong, especially if enough money is thrown at them.
This post was edited on 9/7/23 at 10:36 am
Posted on 9/7/23 at 10:36 am to TygerTyger
quote:
We should be doing everything within our power to be an energy independent country. Like we were under Trump.
Dumbest thing I read on the internet in a very long time. Trump sat back and watched SA flood our market with cheap oil while close to 1k US energy companies went bankrupt. Billions of US dollars invested in energy production was lost. Yes it was the Saudi’s fault but Trump either got worked by them or was working with them. He even resorted to trading weapons just to keep the prices low because the US energy industry was decimated.
Posted on 9/7/23 at 10:38 am to msap9020
quote:
Unless you build infrastructure.
It doesn’t work that way in Alaska. The ice is your infrastructure.
Posted on 9/7/23 at 10:41 am to Motownsix
quote:
Dumbest thing I read on the internet in a very long time. Trump sat back and watched SA flood our market with cheap oil while close to 1k US energy companies went bankrupt. Billions of US dollars invested in energy production was lost. Yes it was the Saudi’s fault but Trump either got worked by them or was working with them. He even resorted to trading weapons just to keep the prices low because the US energy industry was decimated.
2019 is when things stared slowing down. We already had layoffs planned by November of 2019. US O&G activity was already slumping well before COVID drove the nail in the coffin.
Posted on 9/7/23 at 10:47 am to ragincajun03
Someone else may be able to confirm this, but I think it was Rush, who said years ago, that ANWR is over 2 million acres large, but that only 2,000 acres would be used for oil and gas drilling/production. In case you’re math challenged, only 1/10 of 1% would be “desecrated” by oil drilling and production.
Posted on 9/7/23 at 11:21 am to redstick13
quote:
It doesn’t work that way in Alaska. The ice is your infrastructure.
You are wrong. Outside of early exploration programs, we build ice to build infrastructure.
This post was edited on 9/7/23 at 11:27 am
Posted on 9/7/23 at 11:26 am to Mushroom1968
quote:
I'd be curious to know what the people of Alaska want, don't care what the politicians want. I wonder if there's been surveys or townhalls etc about drilling in Alaska. I'll admit, I don't keep up with some of this stuff. I assume Alaskans want their state as natural as possible but I may be very wrong, especially if enough money is thrown at them.
As always, there are outliers but the majority of Alaskans want oil to stay because as you can imagine, it is a huge part of their economy/tax base. They still get their annual checks. As for the N slope, the indigenous people are dependent on the infrastructure we build, the jobs we provide and the money that flows into the villages. There are huge stakeholder outreach/engagement programs in place and have been for decades.
Bottom line, most Alaskans love oil just as much as Texans and Louisianians.
Posted on 9/7/23 at 11:30 am to ragincajun03
quote:
However, a 2017 law mandates another lease sale by late 2024. Administration officials said they intend to comply with the law.
Sure, they will allow the sale, but will they cancel the lease again?
Posted on 9/7/23 at 11:32 am to redstick13
quote:
Makes sense. I’m chatting right now with a friend out there and he said they don’t understand why the count has dropped like it has.
Meanwhile, though, looks like Chevron is going to increase CAPEX in the Permian and still reduce projected rigs.
LINK
Of course, less rigs doesn’t automatically mean less activity and less barrels.
In 2014, the United States average monthly rig count was 1,862; and monthly crude oil production was anywhere from 8.1 to 9.5 Million Barrels per Month.
In 2022, the average monthly rig count was probably around 700 (Baker Hughes’s data base goes from monthly counts to weekly counts, and I don’t feel like totaling up 52 numbers), but 2022 production numbers were anywhere from 11.2 to 12.3 Million Barrels per Month.
I can tell you other than just the number of rigs, activity in the Permian certainly seems heavier in 2022 than 2014, especially on the planning front. Also, I think you’re seeing operators still more and more consolidate their leased acreage and do trades with other companies where they instead can have rigs concentrated in a specific area instead of so much movement all over the map.
I know Chevron specifically has done that recently.
Posted on 9/7/23 at 12:31 pm to redstick13
quote:
Dumbest thing I read on the internet in a very long time. Trump sat back and watched SA flood our market with cheap oil while close to 1k US energy companies went bankrupt. Billions of US dollars invested in energy production was lost. Yes it was the Saudi’s fault but Trump either got worked by them or was working with them. He even resorted to trading weapons just to keep the prices low because the US energy industry was decimated.
quote:
2019 is when things stared slowing down. We already had layoffs planned by November of 2019. US O&G activity was already slumping well before COVID drove the nail in the coffin.
My recollection is the problems started in 2015, again thanks to the Saudis. 2017-2018 there was hope that a Republican in the Whitehouse may do something to save the faltering industry. By 2019 all hope was lost.
Posted on 9/7/23 at 1:20 pm to TygerTyger
quote:
We should be doing everything within our power to be an energy independent country. Like we were under Trump
If you think we weren’t importing oil under Trump, you’re a buffoon.
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