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re: Christmas came early: Zinke announces MASSIVE new oil/NG discovery in NM
Posted on 12/6/18 at 2:11 pm to 90proofprofessional
Posted on 12/6/18 at 2:11 pm to 90proofprofessional
Already happening and known for a while
1
Posted on 12/6/18 at 2:19 pm to Lou Pai
is this newsworthy then? like a big bump up in assessment of how much is there or something?
Posted on 12/6/18 at 2:22 pm to bamarep
Trump to Dems - l drink your milkshake!
Posted on 12/6/18 at 2:23 pm to WildTchoupitoulas
quote:
...and then only if you don't believe the Earth is only 3,000 years old.
Silly WildT... everyone knows the earth is twice that age...
Posted on 12/6/18 at 2:25 pm to 90proofprofessional
quote:
What's there to chime in about? Sounds like great news for NM and the US
Just trying to hear it from both sides.
Posted on 12/6/18 at 2:25 pm to wickowick
Posted on 12/6/18 at 2:26 pm to 90proofprofessional
Yeah it appears they just sized up the entirety of the play on the "newer," significantly less developed side of the basin. I don't think Zinke is misleading or anything, just the article doesn't do a good job of describing it.
Posted on 12/6/18 at 2:26 pm to WildTchoupitoulas
quote:
Low energy prices are bad for Louisiana.
Less jobs here, less severance tax revenue for the state - leading to another budget crisis.
Unless you live in Louisiana and your projects are across the nation.
Posted on 12/6/18 at 2:27 pm to BobBoucher
Problem is, the finite calculation they try to scare you with is based on 1970’s and 80’s technology. As technology improves, we find more oil we didn’t know about previously.
Posted on 12/6/18 at 2:28 pm to Jack Daniel
quote:
Problem is, the finite calculation they try to scare you with is based on 1970’s and 80’s technology. As technology improves, we find more oil we didn’t know about previously.
And a better understanding of abiotic O&G formation.
Posted on 12/6/18 at 2:41 pm to Jack Daniel
quote:
As technology improves, we find more oil we didn’t know about previously.
Not exactly. We don't find new oil, we find new ways to extract oil from known formations/reservoirs that we couldn't technically and/or economically previously.
This post was edited on 12/6/18 at 2:50 pm
Posted on 12/6/18 at 2:42 pm to Rohan Gravy
quote:
my common sense tells me that the only oil in the earth is from dinosaurs and is not renewable is extremely hard to believe.
You don't believe your common sense?
Posted on 12/6/18 at 2:43 pm to BobBoucher
Part of my final MBA capstone project was how there is no such thing as a finite natural resource. I got an A+
Posted on 12/6/18 at 2:45 pm to GumboPot
quote:
And a better understanding of abiotic O&G formation.
Fringe science.
Posted on 12/6/18 at 2:56 pm to cwill
quote:
Fringe science.
Is this the one where they keep pointing to the freak deal at Eugene Island 282 or whatever block that had the strange production increases later in life?
Edit: It's EI 330 I think
This post was edited on 12/6/18 at 2:58 pm
Posted on 12/6/18 at 3:04 pm to bamarep
quote:
Muh finite resources!
PEAK OIL
wasn't gas supposed to be $17/gallon by 2019?
whew.
This post was edited on 12/6/18 at 3:05 pm
Posted on 12/6/18 at 3:15 pm to TigerDog83
quote:
Is this the one where they keep pointing to the freak deal at Eugene Island 282 or whatever block that had the strange production increases later in life?
Edit: It's EI 330 I think
Yes and a couple of other examples of extremely deep hydrocarbon finds (nothing substantial or economic).
Posted on 12/6/18 at 3:16 pm to Enfuego
quote:
h the Wolfcamp isn't a new discovery? The Permian boom in NM and TX has been going on for a while now - with the Wolfcamp being the most actively drilled formation.
From 2 years ago
I think the "news" aspect of this is that the new assessment doubled the projected reserves from 20 billion to 40 billion barrels.
You are right, wolfcamp is nothing new, it is has been at the center of the most recent book.
Posted on 12/6/18 at 3:18 pm to WildTchoupitoulas
quote:
Less jobs here, less severance tax revenue for the state - leading to another budget crisis.
Nope.
You know what leads to the budget crises? I'll give you a hint... it's not oil.
Posted on 12/6/18 at 3:19 pm to bamarep
Yayyyyyy!
My Dixie Pipeline leases goin' up!
My Dixie Pipeline leases goin' up!
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