| We hope you enjoy your visit. You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use. If you join our community, you'll be able to access member-only sections, and use many member-only features such as customizing your profile, sending personal messages, and voting in polls. Registration is simple, fast, and completely free. Join our community! If you're already a member please log in to your account to access all of our features: |
- Pages:
- 1
- 2
| Our Frackers Beat Their Hackers | |
|---|---|
| Tweet Topic Started: Dec 18 2016, 05:48 AM (311 Views) | |
| Berton | Dec 19 2016, 01:31 AM Post #11 |
![]()
Thunder Fan
![]() ![]() ![]()
|
Your information is behind times again. Rig counts have been going back up since then. |
![]() |
|
| Neutral | Dec 19 2016, 01:33 AM Post #12 |
|
Fire & Ice Senior Diplomat
![]() ![]() ![]()
|
Dope sometimes make you forget about time. |
![]() |
|
| Berton | Dec 19 2016, 01:36 AM Post #13 |
![]()
Thunder Fan
![]() ![]() ![]()
|
Here is some up to date information about rig count: http://www.investing.com/economic-calendar/baker-hughes-u.s.-rig-count-1652 |
![]() |
|
| Berton | Dec 19 2016, 01:43 AM Post #14 |
![]()
Thunder Fan
![]() ![]() ![]()
|
Want to know WHERE they are drilling? Click Here |
![]() |
|
| Stoned | Dec 19 2016, 07:15 AM Post #15 |
Fire & Ice Senior Diplomat
![]() ![]() ![]()
|
God you are dumb. Per your link. Number of rigs in 2014 was almost 1500. IN jul of this year it as just 500. Great progress don't you think? Lower gas prices? Not if Opec does not cut production. Where are they drilling? Right now the Permian basin in Texas is the best bet, the Dakota wells being non competitive and most have shut down Bakken range: More than 80,000 people poured into North Dakota, looking to stake their future on the fracking economy. The state’s Bakken oil patch, centered here in Williston, was a magnet for oil workers, business investors and job-hungry folks. That future has evaporated. Those who haven't packed up and left the Bakken are facing a new reality of smaller budgets, fewer residents and the physical detritus of a building boom that left behind hundreds of empty apartments. http://www.reuters.com/investigates/special-report/usa-northdakota-bust/ And in the texas Permian? ..............Because of its early entrance and higher-risk appetite, EOG and others like it now remain profitable even with $50 crude, unlike droves of other sector players that have either gone under or are about to, because they simply cannot bring their production costs down enough to survive in the current price environment. But these best performers have more than just themselves to thank, according to another IHS expert, associate director for Plays and Basins Reed Olmstead. Olmstead explained at a recent industry event that there were four factors that determine oil and gas company success in this area. The first indeed included tactics such as picking and choosing where to drill, which accounted for 35 percent of the overall cut of their breakeven price, but 40 percent of the reduction came from price cuts made by the oilfield service sector – a segment of the oil industry that is having its own problems after being forced to offer service prices at a solid discount plus much shorter contracts to stay afloat. The other two factors contributing to the success of the oldest Permian players were operational improvements, which accounted for 20 percent; and infield learnings, which accounted for 6 percent................... In June of this year, energy expert Art Berman said that the breakeven in the Permian had gone down to $61 a barrel, making the play the lowest-cost deposits in the world. Still, crude oil prices at the time were notably lower than $61 (and still are). http://oilprice.com/Energy/Crude-Oil/The-Truth-About-Permian-Shale-Break-Even-Prices.html The Delaware Basin is a sub-section of the larger Permian Basin, which has become the center of drilling activity as oil prices have slowly risen in recent months, from a low of about $26 a barrel to around $50. Crude settled in New York Friday at $49.81 a barrel. http://www.houstonchronicle.com/business/article/What-it-takes-to-make-money-with-50-a-barrel-oil-9952273.php?t=9a65cd6e4a |
![]() |
|
| Berton | Dec 19 2016, 07:19 AM Post #16 |
![]()
Thunder Fan
![]() ![]() ![]()
|
From your link: "Despite OPEC’s best efforts, shale boomers are still alive and kicking" Thanks for affirming what I have said and documented. |
![]() |
|
| Stoned | Dec 19 2016, 07:54 AM Post #17 |
Fire & Ice Senior Diplomat
![]() ![]() ![]()
|
Oh yes, they are still alive and kicking, if feebly. I just want you to know there is no way they (the vast majority at least) can produce oil profitably if Saudia Arabia does not cut production and that means higher prices, not lower. Happy to lessen your overhelming burden of ignorance. |
![]() |
|
| Berton | Dec 19 2016, 07:56 AM Post #18 |
![]()
Thunder Fan
![]() ![]() ![]()
|
Says a person who posted out of date information from the wilds of Minnesota and knows nothing about the business. I think I will believe the information I get from the local oil companies than what you "think" you know. |
![]() |
|
| 1 user reading this topic (1 Guest and 0 Anonymous) | |
| « Previous Topic · Fire And Ice General Discussion · Next Topic » |
- Pages:
- 1
- 2






![]](http://z3.ifrm.com/static/1/pip_r.png)



4:41 PM Jul 11
