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Oil production last week new record 13.0 million barrels per day
Posted on 1/15/20 at 1:41 pm
Posted on 1/15/20 at 1:41 pm
Trump said at his rally, and reiterated today at the trade signing, he is approving pipelines that should have been approved before that would open up 22% more oil to be shipped.
He is on a friggin roll, next up USMCA.
He is on a friggin roll, next up USMCA.
5
Posted on 1/15/20 at 1:42 pm to trinidadtiger
now if we could just start drilling again.
Posted on 1/15/20 at 2:26 pm to oldcharlie8
With this kind of production drilling will definitely be at a decline
Posted on 1/15/20 at 2:27 pm to CenlaLowell
quote:
With this kind of production drilling will definitely be at a decline
it sucks so bad in the drilling sector that it's not even funny. so many people out of a job that it's scary.
Posted on 1/15/20 at 2:28 pm to trinidadtiger
"This doesn't help the poor" - Democrats
Maybe they should apply to work in the oilfield?
Maybe they should apply to work in the oilfield?
Posted on 1/15/20 at 3:10 pm to oldcharlie8
I work in ultradeep water on the drillships. We are busy busy! Only the majors are sending the money right now. Not much exploratory work. It' s all developmental wells we are drilling.
Posted on 1/15/20 at 3:52 pm to trinidadtiger
But what are we gonna do when the wells run dry?
Posted on 1/15/20 at 3:55 pm to trinidadtiger
quote:
Oil production last week new record 13.0 million barrels per day
Impossible, some poster told me we were maxed out at 12 mil per day and that meeting our consumption was impossible.
Posted on 1/15/20 at 4:51 pm to bamarep
Everyone alive today will be dead
Posted on 1/15/20 at 6:33 pm to bamarep
It won’t happen overnight. Society will adjust. Capitalism breeds innovation.
Posted on 1/15/20 at 7:11 pm to pjab
What if running out of oil is exactly what we need to develop actual sustained energy resources to propel mankind to new levels ?
Posted on 1/15/20 at 7:38 pm to trinidadtiger
“Oil that is, black gold, Texas tea.“
Posted on 1/15/20 at 8:34 pm to bamarep
We all die well atleast 90% of America
Posted on 1/15/20 at 8:38 pm to Potchafa
There are a lot of AUV projects going on doing seismic work...exploratory work is picking up as well.
Posted on 1/15/20 at 11:32 pm to Azkiger
quote:
Impossible, some poster told me we were maxed out at 12 mil per day and that meeting our consumption was impossible.
Some dude thinks 20mmbopd is achievable no problem...consider 7.7mmbopd comes from unconventional and of that about 3.5mm comes from wells drilled in the last year...oh, that hyperbolic decline, it’s a bitch...and locations are falling away and down spacing and the cube in the perm got blown up by mighty Concho!
Posted on 1/16/20 at 1:06 am to cwill
What I would do for $70 oil. Hell a steady $65.
Posted on 1/16/20 at 1:46 am to Potchafa
quote:
I work in ultradeep water on the drillships. We are busy busy!
Your particular ship may be "busy busy" but as a whole that segment is in the toilet and will remain there for a while.
Posted on 1/16/20 at 4:00 am to oldcharlie8
quote:
now if we could just start drilling again.
Yeah. Presumably we have record oil production with no drilling
Posted on 1/16/20 at 4:37 am to Powerman
I think what the drilling fellas are referring to are DUCs, drilled but uncompleted wells...they drill them and cap them. Some for the fact they have more productive wells, some waiting for the prices to rise, and some simply because the lease agreement said they had do drill within a time frame and they dont want to violate it.
Pipeline capacity would help move inventory and enable them to uncap some of these. I noticed for the first time in years, the previous three months the number of DUCs is decreasing versus increasing.
I too noticed some fella who gets on every oil post and screams about how the Permian is doomed, everyone is going bankrupt, its just a natural progression from wildcatters who overextended themselves to the big boys taking over.
Make no mistake, Trump is all over the deregulation in this industry to get all the oil and gas possible to market.
Pipeline capacity would help move inventory and enable them to uncap some of these. I noticed for the first time in years, the previous three months the number of DUCs is decreasing versus increasing.
I too noticed some fella who gets on every oil post and screams about how the Permian is doomed, everyone is going bankrupt, its just a natural progression from wildcatters who overextended themselves to the big boys taking over.
Make no mistake, Trump is all over the deregulation in this industry to get all the oil and gas possible to market.
Posted on 1/16/20 at 4:41 am to trinidadtiger
Perhaps I misinterpreted the intent of his post
I know a big complaint during the Obama years was we weren't drilling on federal land. I'd assume that's still also the case and still just as irrelevant.
I know a big complaint during the Obama years was we weren't drilling on federal land. I'd assume that's still also the case and still just as irrelevant.
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