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Started By
Message
1
Posted on 12/6/18 at 3:24 pm to CAD703X
Lying bastard.
Cshill just told us that there are no new discoveries.
Cshill just told us that there are no new discoveries.
Posted on 12/6/18 at 3:27 pm to bamarep
quote:
just told us that there are no new discoveries.
No. I said the Wolfcamp was not a new discovery - that's a fact. Then I said that we aren't really finding "undiscovered oil", we have found improved technology allowing us to access known reserves that were previously inaccessible due to technical and/or economic reasons.
I have a long history on this board arguing against the peak oil theory - mostly with the poster Bunk Moreland.
It would appear that you and facts have a tenuous relationship.
This post was edited on 12/6/18 at 3:29 pm
Posted on 12/6/18 at 3:28 pm to bamarep
Wow.
Posted on 12/6/18 at 3:41 pm to WildTchoupitoulas
quote:
quote:
Even you dumbasses can't spin this as bad.
Low energy prices are bad for Louisiana.
Less jobs here, less severance tax revenue for the state - leading to another budget crisis.
Before that find, I was seeing gas in BR going for just over $2.00 a gallon. That's ALREADY inexpensive. As a matter of fact, it's cheaper than the 35 cents per gallon they were paying back in '65, before the oil embargoes - adjusted for inflation.
Not sure why this is getting down votes, it’s undoubtedly true that cheap energy prices hurts the Louisiana economy
Posted on 12/6/18 at 3:48 pm to bamarep
LOL at OP announcing this shite like the USGS discovered the Wolfcamp. The day the USGS is discovering major oil assets in this country instead of private business something has gone horribly wrong.
Posted on 12/6/18 at 3:49 pm to WildTchoupitoulas
quote:
Damn, that's bad news.
Care to elaborate?
Posted on 12/6/18 at 3:54 pm to bamarep
The entire industry has been aware of this for a while. We just need Trump’s new Director of the Department of the Interior to stop throwing red tape (or State Directors under him) down at the field office level when it comes to operating in Federal Lands in that area. The BLM owns hundreds of thousands of mineral and surface acres in the main Permian of New Mexico.
This post was edited on 12/6/18 at 4:06 pm
Posted on 12/6/18 at 3:59 pm to upgrayedd
quote:
that stuff typically has a ton of H2S in it
Some parts of New Mexico it does not.
Posted on 12/6/18 at 4:04 pm to 90proofprofessional
quote:
So what's the deal? Are we going to be having big production there or no
We already are.
Posted on 12/6/18 at 4:46 pm to ragincajun03
quote:
quote:
So what's the deal? Are we going to be having big production there or no
We already are.
I'd say from a production/development perspective the surface has barely been scratched. I think the Permian is in a position to severely depress oil and natural gas prices.
Posted on 12/6/18 at 4:55 pm to GumboPot
quote:
Unless you live in Louisiana and your projects are across the nation.
Perhaps, but it also sucks for those with producing wells.
Posted on 12/6/18 at 6:24 pm to cwill
quote:
just told us that there are no new discoveries.
No. I said the Wolfcamp was not a new discovery - that's a fact
Actually, he said:
quote:
As technology improves, we find more oil we didn’t know about previously.
Then you said
quote:
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.
Posted on 12/6/18 at 7:46 pm to wickowick
Tell me about the hydroelectric car I’m buying in 2100.
Posted on 12/6/18 at 7:54 pm to bamarep
Folks have been drilling the Wolfcamp for years. I remember hearing about it when I was interning in Midland in 2012.
Posted on 12/6/18 at 7:59 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.
THIS... a good example I use is back in the early 2000s chevron was trying to give away its Permian assets because there was no more oil there. Now, they can’t dump enough capital in the area and can’t punch the holes fast enough. Peak oil doesn’t exist.
Posted on 12/6/18 at 8:02 pm to moneyg
quote:
Actually, he said:
quote:
As technology improves, we find more oil we didn’t know about previously.
Yes - saying we find oil we didn't previously know about (new discovery).
quote:
Then you said
quote:
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.
Right, we aren't finding "new oil" (new discoveries)...not sure what your point is.
Posted on 12/6/18 at 8:03 pm to WildTchoupitoulas
quote:
Yes.
Peak discovery occurred in the 60s.
Unless you think petroleum is a renewable resource, peak oil is inevitable. Sorry.
I remember it was going to "run out" in 30 years in 1975.
I got gas at $1.79/gal last week
idiots
Posted on 12/6/18 at 8:13 pm to WildTchoupitoulas
quote:
You don't believe your common sense?
I always believe my common sense.
What is your point?
Posted on 12/6/18 at 8:27 pm to WildTchoupitoulas
quote:
Guess what, Bossier, that's going to collapse the fracking industry that's been going on around your part of the country.
Negative, new wells and additional lateral sections on existing wells will continue to be drilled in the Haynesville Shale because the infrastructure to move the gas is already in place. That will require fracking, and the older existing lateral sections are at the age were they will start to require re-fracking. And guess what the oil and gas in west Texas and NM are contained in shale, which requires fracking.
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