|
|
Joined: Aug 2005
Posts: 28,235
Campfire Ranger
|
OP
Campfire Ranger
Joined: Aug 2005
Posts: 28,235 |
It is irrelevant what you think. What matters is the TRUTH.
|
|
|
|
|
Joined: Jan 2001
Posts: 29,820
Campfire Ranger
|
|
Campfire Ranger
Joined: Jan 2001
Posts: 29,820 |
Link no workie?
Seems to be up now.
Last edited by 1minute; 08/24/16.
1Minute
|
|
|
|
|
Joined: Oct 2007
Posts: 7,441
Campfire Tracker
|
|
Campfire Tracker
Joined: Oct 2007
Posts: 7,441 |
~Molɔ̀ːn Labé Skýla~
|
|
|
|
|
Joined: Nov 2007
Posts: 2,154
Campfire Regular
|
|
Campfire Regular
Joined: Nov 2007
Posts: 2,154 |
You must have caused so many people to hit the site that thier server went down.
But yes, over to block 31 and Coyonosa, it has been hot. Glad I'm not there right now.
My biggest fear is when I die my wife will sell my guns for what I told her they cost....
|
|
|
|
|
Joined: Apr 2008
Posts: 2,414
Campfire Regular
|
|
Campfire Regular
Joined: Apr 2008
Posts: 2,414 |
I've got some co-workers out in Midland right now and it's a very busy field!!
A true friend is someone who reaches for your
hand but touches your heart !!!
|
|
|
|
|
Joined: Feb 2001
Posts: 73,096
Campfire Kahuna
|
|
Campfire Kahuna
Joined: Feb 2001
Posts: 73,096 |
I still say we don't need ANY foreign oil, we have more then enough here to last MANY years!
George Orwell was a Prophet, not a novelist. Read 1984 and then look around you!
Old cat turd!
"Some men just need killing." ~ Clay Allison.
I am too old to fight but I can still pull a trigger. ~ Me
|
|
|
|
|
Joined: May 2005
Posts: 14,104
Campfire Outfitter
|
|
Campfire Outfitter
Joined: May 2005
Posts: 14,104 |
Seems like the Permian just keeps on keeping' on! 
Ben
Some days it takes most of the day for me to do practically nothing...
|
|
|
|
|
Joined: Apr 2011
Posts: 151,089
Campfire Savant
|
Campfire Savant
Joined: Apr 2011
Posts: 151,089 |
That field has produced a lot oil.
|
|
|
|
|
Joined: Sep 2006
Posts: 18,005
Campfire Ranger
|
|
Campfire Ranger
Joined: Sep 2006
Posts: 18,005 |
Oilfield vehicle traffic on highways between San Angelo and Pecos has jumped up significantly in the past month.
"I'm gonna have to science the schit out of this." Mark Watney, Sol 59, Mars
|
|
|
|
|
Joined: Aug 2004
Posts: 69,594
Campfire Kahuna
|
|
Campfire Kahuna
Joined: Aug 2004
Posts: 69,594 |
Molɔ̀ːn Labé Skýla!
|
|
|
|
|
Joined: Aug 2005
Posts: 28,235
Campfire Ranger
|
|
OP
Campfire Ranger
Joined: Aug 2005
Posts: 28,235 |
The Permian produces 2M bbls/day. Only 10 entire countries produce more oil daily. My buddy who runs Schlumberger's pumping service division here in Midland says there are nearly 400 DUC's here........Drilled and UnCompleted well bores.
Last edited by JGRaider; 08/24/16.
It is irrelevant what you think. What matters is the TRUTH.
|
|
|
|
|
Joined: Nov 2003
Posts: 2,115
Campfire Regular
|
|
Campfire Regular
Joined: Nov 2003
Posts: 2,115 |
There were an estimated 2,000 DUC wells in the US the last time I heard. What people don't realize is that this down turn has made oil companies (and service companies )even better at what they do. Wells that were drilled in 30 days 2 years ago are now down to 14. Couple that with a huge cost reduction on goods and services, and they can make it. Now, all of the associated costs will increase as the market recovers, but the efficiency gained in the last 2 years won't be lost. That could mean it will only take 2/3 of the rig count to drill the same number of wells.
But what the hell do I know....
Last edited by Oklahomahunter; 08/24/16.
|
|
|
|
|
Joined: Aug 2005
Posts: 28,235
Campfire Ranger
|
|
OP
Campfire Ranger
Joined: Aug 2005
Posts: 28,235 |
There were an estimated 2,000 DUC wells in the US the last time I heard. What people don't realize is that this down turn has made oil companies (and service companies )even better at what they do. Wells that were drilled in 30 days 2 years ago are now down to 14. Couple that with a huge cost reduction on goods and services, and they can make it. Now, all of the associated costs will increase as the market recovers, but the efficiency gained in the last 2 years won't be lost. That could mean it will only take 2/3 of the rig count to drill the same number of wells.
But what the hell do I know.... You obviously know quite a lot.
It is irrelevant what you think. What matters is the TRUTH.
|
|
|
|
|
Joined: Jun 2003
Posts: 3,871
Campfire Tracker
|
|
Campfire Tracker
Joined: Jun 2003
Posts: 3,871 |
Oklahomahunter
I am with you on this. Where there "is a will there is a way". I just think the Saudies may have shot their own foot with the play they started two years ago. I do have a feel for what is going on ,lost my father , he was a derrick man, step father was an oilman and other family members
were also into the oil patch. Cheers NC
don't judge until you have walked a mile in other persons' moccasins'
SUM QUOD SUM........HOMINEM TE ESSE MEMENTO
|
|
|
|
|
Joined: Dec 2002
Posts: 22,274
Campfire Ranger
|
|
Campfire Ranger
Joined: Dec 2002
Posts: 22,274 |
seeing a little uptick in demand here for various parts, hope it continues
"...the designer of the .270 Ingwe cartridge!..."
|
|
|
|
|
Joined: Nov 2003
Posts: 2,115
Campfire Regular
|
|
Campfire Regular
Joined: Nov 2003
Posts: 2,115 |
Yes, there's been a slight upturn over the last 45-60 days. It hasn't taken long to exhaust supply of certain services (which are probably the hardest hit) so they will be the first to have the ability to push price up. Then, as long as oil price creeps, the cycle begins again.
|
|
|
|
|
Joined: Apr 2011
Posts: 151,089
Campfire Savant
|
|
Campfire Savant
Joined: Apr 2011
Posts: 151,089 |
Oilfield work there is tough, hot summer and cold winter.
|
|
|
|
|
Joined: Feb 2001
Posts: 24,239
Campfire Ranger
|
|
Campfire Ranger
Joined: Feb 2001
Posts: 24,239 |
Those compelling economics are leading other producers to pay up to acquire additional acreage in the play. For example, earlier this month, Concho Resources (NYSE:CXO) paid $1.625 billion to buy 40,000 more acres in the region, expanding its position to 150,000 net acres. Meanwhile, rival SM Energy (NYSE:SM) paid an equally astounding $980 million to acquire 24,783 acres, which doubled its position in the play. What's noteworthy about those prices is that SM Energy paid $39,500 per acre while Concho Resources paid $40,625 an acre, which were well above the $25,000 to $35,000 acre producers had been paying to acquire acreage in the play. Those prices show that companies are willing to pay a premium for prime drilling acreage, even in the current oil market because of just how good the returns are right now. Do you have an idea what the average terms are on these leases? Are they getting full 7/8 leases, for instance?
Never holler whoa or look back in a tight place
|
|
|
|
|
Joined: Aug 2004
Posts: 69,594
Campfire Kahuna
|
|
Campfire Kahuna
Joined: Aug 2004
Posts: 69,594 |
Those compelling economics are leading other producers to pay up to acquire additional acreage in the play. For example, earlier this month, Concho Resources (NYSE:CXO) paid $1.625 billion to buy 40,000 more acres in the region, expanding its position to 150,000 net acres. Meanwhile, rival SM Energy (NYSE:SM) paid an equally astounding $980 million to acquire 24,783 acres, which doubled its position in the play. What's noteworthy about those prices is that SM Energy paid $39,500 per acre while Concho Resources paid $40,625 an acre, which were well above the $25,000 to $35,000 acre producers had been paying to acquire acreage in the play. Those prices show that companies are willing to pay a premium for prime drilling acreage, even in the current oil market because of just how good the returns are right now. Do you have an idea what the average terms are on these leases? Are they getting full 7/8 leases, for instance? Marathon paid in excess of $40k per acre for some of their Eagle Ford lease. Most was $25 or $30k per acre, but in order to secure certain drilling units, they stepped up. Gene, the contracts of leases vary widely. They may be for several years, but many are including a clause that stipulates that the operator must drill and complete "X" number of wells in order to hold the lease. Otherwise, the lease option becomes avl. to be leased again. That accounts for the rig count in some areas. While it may not be profitable for companies to drill now, they have to do so to hold on to their lease holdings, or risk losing them.
Molɔ̀ːn Labé Skýla!
|
|
|
|
|
Joined: Feb 2013
Posts: 1,893
Campfire Regular
|
|
Campfire Regular
Joined: Feb 2013
Posts: 1,893 |
Must be the reason gas went up 20+ cents here last couple weeks Gouging robbing bastads !!!!!! S O B's one and all
|
|
|
|
|
570 members (06hunter59, 17CalFan, 1234, 10gaugeman, 10ring1, 160user, 51 invisible),
1,929
guests, and
1,024
robots. |
|
Key:
Admin,
Global Mod,
Mod
|
|
|
Forums81
Topics1,191,185
Posts18,465,727
Members73,925
| |
Most Online11,491
Jul 7th, 2023
|
|
|
|
