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Joined: May 2014
Posts: 5,817
Campfire Tracker
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OP
Campfire Tracker
Joined: May 2014
Posts: 5,817 |
How is the Bakken doing? A while back they said due to oil prices they were out of business. Are they producing? Are the fields active?
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
How is the Bakken doing? A while back they said due to oil prices they were out of business. Are they producing? Are the fields active? Railroad (BNSF) is still hauling their crude south.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: May 2014
Posts: 5,817
Campfire Tracker
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OP
Campfire Tracker
Joined: May 2014
Posts: 5,817 |
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
I’m sure that Warren Buffett’s pleased as Berkshire owns bnsf. Yep it is good to see.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: May 2016
Posts: 60,286
Campfire Kahuna
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Campfire Kahuna
Joined: May 2016
Posts: 60,286 |
Sometimes it costs more to re start a shut in field than it does to produce at a loss.
Lift costs are high.....but I would see no reason to shut in.
Lots of producing wells.
Not much drilling activity I imagine.
I am MAGA.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
Sometimes it costs more to re start a shut in field than it does to produce at a loss.
Lift costs are high.....but I would see no reason to shut in.
Lots of producing wells.
Not much drilling activity I imagine. Bakken Wells paid for themselves rather quickly. Should have low lifting costs compared to, say, fields using artificial lift, secondary recovery and in some cases tertiary recovery.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: May 2014
Posts: 5,817
Campfire Tracker
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OP
Campfire Tracker
Joined: May 2014
Posts: 5,817 |
Sometimes it costs more to re start a shut in field than it does to produce at a loss.
Lift costs are high.....but I would see no reason to shut in.
Lots of producing wells.
Not much drilling activity I imagine. Bakken Wells paid for themselves rather quickly. Should have low lifting costs compared to, say, fields using artificial lift, secondary recovery and in some cases tertiary recovery. Why would the lift costs be low? The cost of lifting any fluid depends on the source pressure and the lift height not on whether the hole is already paid for.
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Joined: Dec 2008
Posts: 8,298
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2008
Posts: 8,298 |
My neighbor works on the drilling side, it's done for now. He said it would have to hit $45 for drilling to start back up.
"Life is tough, even tougher if your stupid"
John Wayne
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Joined: May 2014
Posts: 5,817
Campfire Tracker
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OP
Campfire Tracker
Joined: May 2014
Posts: 5,817 |
My neighbor works on the drilling side, it's done for now. He said it would have to hit $45 for drilling to start back up. Thanks. I'm most interested in people in that field.
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Joined: Sep 2017
Posts: 2,795
Campfire Regular
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Campfire Regular
Joined: Sep 2017
Posts: 2,795 |
Oil Fields never die! They just change their name and issue new stock!
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Joined: Aug 2005
Posts: 28,235
Campfire Ranger
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Campfire Ranger
Joined: Aug 2005
Posts: 28,235 |
It happens every time there's a downturn in the oil patch. Drilling is the first thing to shut down, then completions. Production is seldom shut in because these companies still need cash flow and have bills to pay. When things turn back around these same companies won't have enough people, and help will be scarce. So goes life in the oilfield.
It is irrelevant what you think. What matters is the TRUTH.
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Joined: Feb 2009
Posts: 11,914
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2009
Posts: 11,914 |
They just put the wells on a timer to run enough to keep the well bore clear.
Might not run long but it does add when you are talking a whole field.
Around here OXY had them pumping about every 45 minutes for 5 or so minutes.
It's cost effective as far as well maintenance goes.
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Joined: Jun 2001
Posts: 5,489
Campfire Tracker
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Campfire Tracker
Joined: Jun 2001
Posts: 5,489 |
Sometimes it costs more to re start a shut in field than it does to produce at a loss.
Lift costs are high.....but I would see no reason to shut in.
Lots of producing wells.
Not much drilling activity I imagine. Bakken Wells paid for themselves rather quickly. Should have low lifting costs compared to, say, fields using artificial lift, secondary recovery and in some cases tertiary recovery. Why would the lift costs be low? The cost of lifting any fluid depends on the source pressure and the lift height not on whether the hole is already paid for. "Lifting Cost" is usually a term used to describe operating expense {OPEX} while drilling costs usually fall under capital expense [CAPEX]
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Joined: Dec 2008
Posts: 8,298
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2008
Posts: 8,298 |
They just put the wells on a timer to run enough to keep the well bore clear.
Might not run long but it does add when you are talking a whole field.
Around here OXY had them pumping about every 45 minutes for 5 or so minutes.
It's cost effective as far as well maintenance goes. That’s an Interesting way to do it.
"Life is tough, even tougher if your stupid"
John Wayne
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
Sometimes it costs more to re start a shut in field than it does to produce at a loss.
Lift costs are high.....but I would see no reason to shut in.
Lots of producing wells.
Not much drilling activity I imagine. Bakken Wells paid for themselves rather quickly. Should have low lifting costs compared to, say, fields using artificial lift, secondary recovery and in some cases tertiary recovery. Why would the lift costs be low? The cost of lifting any fluid depends on the source pressure and the lift height not on whether the hole is already paid for. Free flowing, reservoir pressure wells versus those requiring secondary measures like pump jacks, compression for gas lifting, high pressure pumps for liquids injections to cause the oil to migrate or compression for injecting gas back on top of the reservoir to maintain pressure to cause the oil to flow. Free flowing with reservoir pressure drive is stand alone.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
They just put the wells on a timer to run enough to keep the well bore clear.
Might not run long but it does add when you are talking a whole field.
Around here OXY had them pumping about every 45 minutes for 5 or so minutes.
It's cost effective as far as well maintenance goes. That’s an Interesting way to do it. It also allows oil to pool and collect at the well bore perforations during the down period.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Apr 2008
Posts: 17,107
Campfire Ranger
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Campfire Ranger
Joined: Apr 2008
Posts: 17,107 |
There a few frac’s going on, Slawson and Liberty. A few more work over rigs, way down from before. The WO rigs are starting to go days, some had been 24 hours. One company has 4 drill rigs out, I am sure there are more. I just travel from the lake, south to Killdeer. Fairview to the Rez.
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Joined: Feb 2012
Posts: 87
Campfire Greenhorn
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Campfire Greenhorn
Joined: Feb 2012
Posts: 87 |
There are currently 11 rigs running in ND. Last year this time we had 9 ourselves, headed to 12.... We now have one... Today....
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Joined: May 2016
Posts: 60,286
Campfire Kahuna
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Campfire Kahuna
Joined: May 2016
Posts: 60,286 |
It costs to bring that schit up that far.
I am MAGA.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
It costs to bring that schit up that far.
No such thing as perpetual motion.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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