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Posted on 3/12/24 at 10:17 am to 2014Tigers
quote:
They’re still busy for oil in Texas, however, NW Louisiana has essentially shut down Natural Gas drilling. Only the rigs that are still drilling for it are working. The others are stacked up. Pretty sad that it was busy busy busy then Biden halted the LNG and it abruptly stopped
The Marxist climate change ideologically impaired set don't want to hear that CH4 is the cleanest fuel we have.
Posted on 3/12/24 at 10:35 am to Kjnstkmn
Oil and Gas production adds many types of well paying jobs and drives down cost of everything. You want to stop inflation? Gas and oil production will do it. Plus, we won't need to import so much energy. Lower transportation costs goes right to the bottom line. It lowers the USA trade deficit 2 ways. For the green energy fanatics, CNG is a super clean burning fuel. It is a win/win/win/win for the USA in so many ways.
Posted on 3/12/24 at 10:43 am to Kjnstkmn
The US is currently producing more oil than any other country has in history
Posted on 3/12/24 at 10:44 am to jimmy the leg
quote:
Like the extracurricular activities of the sniffer.
You knew about this shite and still voted for him.
You ignored this:
what does any of that have anything to do with US oil production currently being at record levels?
Posted on 3/12/24 at 10:49 am to 2014Tigers
quote:
NW Louisiana has essentially shut down Natural Gas drilling
according to Baker Hughes there are currently 38 rigs running in the Haynesville, for comparison there are currently 32 rigs running in the biggest gas basin in the country, the Marcellus/Utica in PA/OH/WV
In fact, the only basin that has more rigs running is the Permian (313) and Eagle Ford (52)
Posted on 3/12/24 at 10:50 am to CitizenK
quote:
The chemical makeup of thousands of different crude oils determine profitability when refined and for which products. Crude oil is not a monolith but the low info crowd will believe whatever they are told.
I am all for drill, baby, drill. But, I feel like a lot of people think the U.S. has some supergiant fields sitting out there that we just need to easily tap. But, if it's unconventional/difficult to extract and requires a shite ton of investment, maybe we aren't going to drill our way to independence.
cwill can be a pain in the arse, but he seems to have the best overall view of the U.S. and global energy situation on here. 
Posted on 3/12/24 at 11:00 am to Bunk Moreland
quote:
But, if it's unconventional/difficult to extract and requires a shite ton of investment, maybe we aren't going to drill our way to independence.
That’s the thing. The break even and profitability price points we’re seeing in places like the Permian aren’t going to stay at those levels forever. As we move from this “easy” top-tier acreage, we’re going to have to move to more challenging, costlier to produce, and either they will require price per barrel points that are higher than what companies like for our current top tier fields, or, technology will have to progress so that the price point isn’t much higher.
Keep in mind inflation will always happen too, it’s just a matter what that rate is, but that affects materials from pipe and facilities to rigs to personnel.
Posted on 3/12/24 at 11:56 am to ragincajun03
quote:
As we move from this “easy” top-tier acreage, we’re going to have to move to more challenging, costlier to produce, and either they will require price per barrel points that are higher than what companies like for our current top tier fields, or, technology will have to progress so that the price point isn’t much higher.
we could also see reduced supply as top tier acreage gets drilled out, elevating prices and break evens
Posted on 3/12/24 at 12:04 pm to Motownsix
Posted on 3/12/24 at 12:09 pm to reddy tiger
quote:You mean like the ronbot cult not accepting that he LOST?
Cults don’t tend to acknowledge uncomfortable facts.
Posted on 3/12/24 at 12:17 pm to Kjnstkmn
The cost of oil and gas is a major factor in inflation that gets into just about everything.
I don't think that the need for refineries will escape a new Trump administration.
I still want Trump/DeSantis 2024 and then 8 more years of DeSantis. That's just about enough time to fix what the commies have broken.
I don't think that the need for refineries will escape a new Trump administration.
I still want Trump/DeSantis 2024 and then 8 more years of DeSantis. That's just about enough time to fix what the commies have broken.
Posted on 3/12/24 at 12:20 pm to Auburn1968
quote:I'll vote for that!
Trump/DeSantis 2024 and then 8 more years of DeSantis.
Posted on 3/12/24 at 12:26 pm to hubertcumberdale
quote:
we could also see reduced supply as top tier acreage gets drilled out, elevating prices and break evens
Agree. No matter who is President, I don’t think oil companies who have to worry about returning value to their shareholders in order to keep getting their projects funded are intentionally going to drill baby drill themselves to $30 oil.
Posted on 3/12/24 at 12:48 pm to Auburn1968
Natural gas at the WAHA hub last week average 6 cents.
The price is too low to not lose money on natural gas right now.
The price is too low to not lose money on natural gas right now.
Posted on 3/12/24 at 12:52 pm to RollTide71
quote:
You mean like the ronbot cult not accepting that he LOST?
Cults that think just drilling lowers gasoline prices at the pump. They don't know anything about oil or refining
Posted on 3/12/24 at 12:54 pm to Auburn1968
quote:
I don't think that the need for refineries will escape a new Trump administration.
Why didn't Trump even mention the brand new refinery built in Galveston and completed in 2020?
The 7 permits I mentioned earlier were obtained after Trump was out and Biden sworn in.
Posted on 3/12/24 at 12:54 pm to hubertcumberdale
quote:
according to Baker Hughes there are currently 38 rigs running in the Haynesville,
Maintaining leases
Posted on 3/12/24 at 1:14 pm to ragincajun03
European and major companies are telling the US not to give Venture Global an extension on its Calcasieu Pass commissioning for another year so they can claim contract violations on supplying LNG. If you want to know why CP2 hasn't already received a permit, this is likely the reason.
Posted on 3/12/24 at 1:22 pm to loogaroo
quote:
Maintaining leases
Drilling wells does not equal completing wells either. There is bound to be a lot of DUCs around for natural gas these last several months.
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