Leaderboard


Popular Content

Showing content with the highest reputation on 10/23/2019 in all areas

  1. 4 points
    I have absolutely no issue with people who do not want to eat meat! More for me. Furthermore, I will burn as much oil, natural gas, wood, Greenpeace flyers and biased newspapers as required to get it nicely medium well. If you want to be a vegetarian, do so, just stop trying to push that lifestyle choice on us who still retain our natural teeth!😂
  2. 3 points
    In my opinion, diplomatic immunity has become so abused that it is laughable. Since when does the spouse of a diplomat get immunity? If a diplomat commits a crime in another country (there may be shades of grey here, I am speaking of your usual definition of a crime), then that person should be tried in that country. I can see no rational excuse for this woman not being returned to the UK if she can be guaranteed a fair trial. The UN in New York is probably the worst offender. Diplomats from all over take diplomatic immunity to cover things like parking violations, soliciting, shoplifting, etc... Diplomats (not family members) need diplomatic immunity, but only as it applies to their job.
  3. 3 points
    I eat meat while I burn oil, and I burn oil while I eat meat!!!!!LOL
  4. 3 points
    I will finance her trip to China with a 1 way F/C ticket!!!! so she can educate the Chinese Gov and tell them "How dare they!!"
  5. 2 points
    When you generate a prospect... You drill holes, and match the maps of the test drill holes and the results of those holes that show the amount/type of coal in those cores, and compute the volume and convert from the mean thickness of the coal seam density to get the tonnage(s) and include the dilution factor, and the recovery factor based on the type of mining method to be deployed and the segments or areas of the coal mines or blocks are separated/designated for their economic values based on the above and inclusion of impurities and further calculate the economic value of the prospect among other financial and regulatory considerations.
  6. 2 points
    Amusing Oil Price article. I do not buy into the entire Global Warming Armageddon scaremongering, and I grew up on a dairy farm. I was also a vegetarian for a couple years, under the mistaken and totally faulty misconception that being vegetarian is "healthier" for people. Utter nonsense. People need to eat meat to be healthy. Full stop. My own experience confirms this. Especially since I started lifting weights at the beginning of this year, and target eating 200 grams of protein a day, it is exceedingly obvious to me that eating meat is healthy for humans. If you are trying to lose fat, I would suggest fasting for a few days, or trying a Keto diet (all the protein, healthy fats, and green leafy veggies you can eat, but no carbs). Eating. Meat. Is. Healthy. For. Humans. Oil Price article: Is Eating Meat Worse Than Burning Oil? Then perhaps read this article: Why Is The Elitist Establishment So Obsessed With Meat? ... Yes, that's right, the rise of meat in the human diet tracks almost exactly with the rise of human intelligence and advances in tools and technology. Vegetarian and vegan diets have been shown to lower overall IQ due to lack of nutrients required for brain health. This is because the human brain NEEDS fatty acids such as DHA and DPA which is mostly found in saturated fats in meats. There is no substitute in the plant world for many fatty acids. Saturated fats from animal protein have been shown to increase cognitive function as well as memory. The brain uses almost 20% of the human body's calorie intake in order to function, and much of this intake requires saturated fats and even cholesterol. Contrary to decades of misinformation, animal fats are good for you. Pro athletes also must often revert to a meat based diet in order to build up superior muscle structure, and another factor which is rarely mentioned is the increase in estrogen-like compounds in plant based foods (mainly soy), which can reduce testosterone. And here we get to the crux of the issue. It is perhaps by mere coincidence, or perhaps just observation on the part of elitist dynasties, but meat consumption has always been connected with an unruly peasant class. This is because meat eating contributes directly to greater cognitive function, as well as better memory and muscle mass. While much is discussed about how artificial meat like Beyond Meat has effectively copied the taste or appearance of a normal hamburger, very little is discussed about what it is lacking. Beyond meat has zero cholesterol and no amino acids or fatty acids like Omega 3 or vitamins like B12. It uses coconut oil to mimic saturated animal fats, which does not duplicate the animal fat value to the human brain or body. Essentially, a Beyond Meat burger is designed to copy the taste of a burger without any of the benefits. My theory? That meat is a cognitive enhancer as well as a strength enhancer and the elites at the UN and other globalist organizations are seeking to remove it from our diet based on lies because such a change could contribute to a dumber and weaker population that would be easier to control. Fake meat is also highly processed and uses a complicated method to mimic beef protein structures. It can only be created in a lab and mass produced in a factory. You will never be able to make your own Beyond Meat burger. Meaning, by banning or taxing meat into oblivion and replacing it with an industrial substitute, the establishment will have made society effectively dependent on them for a significant portion of their dietary needs. Not only do they hope to make us dumber and weaker, they also hope to make us desperately dependent.
  7. 2 points
    I think during Trumps term in power we have really managed to see the full spectrum of what US politics is capable of. I fully believe that if Trump would have been left alone for at least a year to get on with business we would see a completely different view compared to what we are seeing now. The left have concentrated more on trying to take trumps legs away than doing what they are paid to do, which I think is either agree or disagree on laws for the betterment of the country, not party. Trumps whole tenure has been a democratic election race, and now reaching its crescendo they have no credible runner who could seriously compete with Trump on stage or in Government, its sad that a party has to show how good they are by only bill boarding the apparent failures (as they see fit) of the President in order to get some flunky elected, not a very powerful or credible mandate. The Dems have lost the election so the next best thing is to lay down a bog of impeachment to dirty the next year, however the republican base is too strong, and the dems will have to impeach or just accept that they don't have a credible candidate to govern the USA at this point in time. Judging by Ice Queen Clinton and her acid position she has just now on her own party shows what a band of dirty corrupt liars were in power during Obamas tenure, US politics is very TOXIC
  8. 2 points
    As an American citizen, it is almost guaranteed that you will be treated poorly in just about any other country on the planet these days. Rightly, or wrongly, whatever the reason for it, that is the reality I live with every day. Granted, you EXPECT the rule of law to be followed in the UK...but we are talking serious jail time here. Given the opportunity to get back to the States...I’d have done the same. That said, once back in the States I’d have turned myself in. This is much different than throwing yourself on the mercy of foreigners. As I indicated when I proposed the question, it is hypothetical as most of us would never have had the option...the cops would have arrested US. PS: Doing a runner makes you appear guilty, it is not an admission or proof of guilt.
  9. 2 points
    Why didn’t the British ‘Popo’ detain her or flag this to the top of the diplomatic bureaucracy (or the responsible entity)? Surely they realized that she was a flight risk! (Maybe they did, I really do not know). The thing is, the cops are used to dealing with ‘civilians’, not political entities with special privileges, they probably didn’t know the correct protocol in this situation.
  10. 2 points
    Fake news. This guy doesn't read he peddles in MSM narratives. The expiring casino concession licenses are for LVS, MGM, Wynn having nothing to do with Trump. The gaming commission believes 'the US-China trade war that continues to threaten the global economy has little chance to disrupt the Macau casino licensing renewal process'. These conspiracy theory clown tho. https://www.casino.org/news/remote-chance-us-casino-lose-macau-concessions-due-to-trade-war
  11. 2 points
    Doug If I had "accidentally killed someone" (as you say) and it was clear that it was an accident I would be personally devastated, but I can assure you that I would go straight to the police and explain what had happened. The difference here is that its against the law to drive on the wrong side of the road, as it is in every country in the world, so yes its an accident of sorts but highly preventable. You cannot compare this to accidentally knocking a plant pot of a 6th floor window, that's ludicrous. The fact she fled the country says she knows this and she should be made to be accountable for her actions.
  12. 2 points
    Douglas- I would have probably got on the flight if I had been in but hole wherever and it had just happened, but she didn't run the same day, she ran weeks after being interviewed by the British Popo. It was Britain not China or Iraq or KSA she was running away from. This was a pre meditated flight from a crime.
  13. 2 points
    James couldnt agree more mate. I drive in Europe (on the wrong side) all the time, never seems to be a problem for me or the millions each year that do. I think Trump is getting it generally right with economic decisions as he is a business man, but pretty much anything else he just embarrasses himself.
  14. 2 points
    I would be willing to bet that there are many other ‘interested parties’, from various places, discussing this diplomatic immunity issue as we speak as however this turns out will in effect set a legal precedent. I personally would like to see her do the right thing and voluntarily return to the UK.
  15. 2 points
  16. 2 points
    That’s like saying ‘proven’ and ‘unproven’ reserves in the oil game. One is a supportable number, the other is fantasy.
  17. 2 points
    The Chinese and the leaders of the worldwide environmental scam artists are the world's biggest hypocrites and are on opposite sides of the issue, but you rarely see China or any Asian nation criticised for the pollution they create and how little they do about it. Meanwhile America has the greatest progress beating pollution of any large nation and gets no credit for it. How have we done it? Mainly by switching from coal to natural gas.
  18. 2 points
    According to *** 🙄 known Chinese coal reserves(~130B tons), at current pace of ~3.5Billion tons/year and rising... China is going to blow through 100% of their reserves in 30+ years... Or 60+ years depending on your "reserves" math. So, yes, Chinese imports of coal are going to massively rise. Of course China will just start using less efficient brown coal of which they have gobs of.
  19. 2 points
    I am aware of combining different plant foods to get complete proteins. My primary source of complete protein when I was vegetarian was whole legumes (generally black beans or kidney beans) and whole grains (generally brown rice and rolled oats). But my body craves red meat after a workout. I particularly enjoy wolfing down a pound of raw hamburger after a hearty weight lifting session, for the animal proteins, fats, and cholesterol. I grew up eating our own raw hamburger on the farm, and there is nothing quite like the taste of red meat.
  20. 2 points
    I'm sure the Greta gang will be there soon rather than just focusing on certain continents where free speech is allowed.
  21. 1 point
    China's 2019 coal imports set to rise more than 10%: analysts BEIJING/MELBOURNE (Reuters) - China, the world's top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, countering earlier expectations that shipments would be capped by Beijing at the same level as 2018. China's coal imports have already surged 9.5% in the first nine months of 2019 to 250.57 million tonnes, customs data shows, and at least 18.84 million tonnes of seaborne coal are due to arrive this month, according to vessel-tracking and port data compiled by Refinitiv. With China typically bringing in about 7 million tonnes more a month on trucks and trains from Mongolia and Russia, total volumes are likely to reach 276 million tonnes well before the end of the year. Last year's total was 281.23 million tonnes. "Signs are emerging of a modest recovery in coal import volumes into China, which has led to recent market speculation that the Chinese government may allow a relatively modest uplift in annual imports to around 300 million tonnes," said Whitehaven Coal Ltd, Australia's largest independent coal producer, in a note on Tuesday. Energy consultancy IHS Markit expects that China may bring in around 320 million tonnes of coal this year. Some Singapore-based coal traders forecast Chinese coal imports could reach at least 305 million tonnes. Graphic: China's monthly coal imports in 2015-2019, https://fingfx.thomsonreuters.com/gfx/ce/7/7014/6996/coal seasonality chart.png The rise in imports comes even after Beijing has pledged to curb coal use to tackle persistent severe pollution in the world's top energy market. Last year it took drastic measures to cap its shipments, halting all clearance of coal cargoes at major ports in December, which sent imports plunging to just 10 million tonnes that month, down from an average monthly level of 22 million tonnes. "Government priority at this moment is to boost the economy ... Relaxing coal imports curb would help maintain a moderate coal price and therefore cut electricity prices in order to reduce energy costs for Chinese enterprises," said Liu Xiaomin, analyst at IHS Markit in Beijing. Analysts and traders warned that the customs authorities could still take such action however, and said they are closely watching for any change in import policy. "The market is full of uncertainties at this moment. We have to wait until at least the end of October to see if a new policy will come out," said a Beijing-based coal trader with a leading German power company. IHS Markit's Liu also warned the import policy may be adjusted anytime based on coal prices and the economic situation in China. Still, buyers have not slowed their purchases, thanks to a large spread between domestic and imported coal prices and increasing demand for the fuel ahead of northern China's heating season that kicks off next month, said three other traders with major power utilities and trading houses. Port prices for Chinese thermal coal with energy content of 5,500 kilocalories per kilogramme (Kcal) were around 575 yuan ($81.25) a tonne on Monday, while Australian coal of the same quality was sold at $53 a tonne FOB.
  22. 1 point
    I can understand why she did what she did. What I cannot understand is Trump. he could he kept quiet and stayed out of it and that would have been it. As James said - imagine if it was the other way around. Anybody remember the british ambassador that was forced to resign essentially for doing his job?
  23. 1 point
    ‘It was Britain not China or Iraq or KSA she was running away from.’ Understood James, but you and I have worked all over the planet, and I’ll be honest with you, I don’t care where I am, if there is a chance of going to jail in ANY foreign country or ‘legally’ doing a runner and getting back home - I’m running! Not that you or I would ever legally have that option...
  24. 1 point
    Licky Licky better that Shooty Shooty or Bangy Bangy And Fracking is so much worse the Nose Jobbing your self, cows tongues are very tactile, Fracking is just bad for everyone, even for those who think its doing them good, as in the heart of hearts they know they are polluting the water table, I know I've seen the science and sorry to say this but Im with Greta on Fracking and Nose Jobbing (as she is a nose miner who eats the pay dirt). Oh big shout out to Doug who managed to hold it together to fill a whole column on a plastic dead cow, I still think it was a real dead cow on the carpet with shiny feet (of hooves whatever you call them) Listen to the Science. Happy 80th Toms Dad👏
  25. 1 point
  26. 1 point
    To be honest I like Trump, but recently he is making a bit of a tool of himself and showing his real personality, it must be hard coming from a corporation where you are King to being King of the Hill but have to answer to other who are clawing for your blood, different arena all together. He will do well to come through this current spate unharmed or unhinged, lot going on for one man to take onboard without a full time government.
  27. 1 point
    We wont have to pay the EU £300M a week and can use some of this for proper border controls I'm not blaming the EU necessarily but a fraction of this money would easily sort the problem. successive governments are to blame but ultimately it comes down to money/resource
  28. 1 point
    https://news.sky.com/story/39-dead-bodies-found-inside-lorry-in-essex-11842770 Unfortunately this is what is happening on a daily basis with illegal immigrants coming through our shi*e customs borders. we should not be letting this happen! 39 dead for God's sake As i said to Rasmus our border controls are not robust enough and we need to fund it correctly to try to eradicate any event like this happening again. Brexit is the start of the process. If the wan*ers in parliament hadn't delayed the democratic process these 39 people may still be alive today. They should all hang there heads in shame! Jo Swinson in particular is a disgrace
  29. 1 point
    Hes an engineer so its not surprising
  30. 1 point
  31. 1 point
    You cannot demand extradition if the person has, or had, immunity. That is the issue here.
  32. 1 point
    News > World > Asia Hong Kong officially kills China extradition bill that sparked months of violent protests https://www.independent.co.uk/news/world/asia/hong-kong-extradition-bill-china-protests-carrie-lam-beijing-xi-jinping-a9167226.html Oh well done. Only took like 5 months. It was already killed according to trolls.
  33. 1 point
    IMO that person committed a crime and should have paid the price, Trump on this one was hunting for a happy story but back fired. It's the UKs fault for driving on the wrong side of the road, even though we did invent roads. This was most definitely a case of abuse of the rules, send her back for the wigged man to pass sentence.
  34. 1 point
    https://www.investopedia.com/trading/chinese-devaluation-yuan/ @Douglas Buckland
  35. 1 point
    Makes sense and I find it very interesting, something I’ve always been curious about but would likely never attempt as I am fairly conservative and risk adverse. I have a personal banker in Singapore (good looking, young Chinese lady) who I’ve been with for years. She is very, very astute and we’ve become friends as well over the years. Serious banking has alot of twists and turns that us commoners are rarely aware of and I seem to learn something from her every week! I transferred some funds last week and she told me, and gave me the exact terminology, to ask for some charges to be waived...and they waived them! Us commoners would never have been aware that these charges could be waived! To me, this is alot like what you do. If you are not very ‘clued up’ in your line of work you should probably not get into it!
  36. 1 point
    Yeah, you guys drive small cars and don't even have to commute very far. However you live on an Island and should be able to have concentric ovals to go wherever on trains.
  37. 1 point
    This is exactly my point with the Greta gang mate. They protest where they feel comfy to do it but not China/India where nearly half the globe live? Huh? So bored of hearing figures we need to work towards here in UK etc.
  38. 1 point
    It did, and I found it interesting, but to be honest I need to go back and review it again. This stuff is seriously outside my ‘comfort zone’.
  39. 1 point
    Russia will be very happy if US shale went away. Shale is not perfect but it is a great resource for the US. Records are being broken every month, set backs happen, challenges exist and companies rise and will rise and face the challenges and succeed. Not all companies in shale are going to succeed as Gen 1 shale companies list proves. Companies are innovating, developing new techs and procedures and techs are evolving to mitigate the shale issues. EOG is now carrying out EOR with gas for shale in the Eagle Ford . Russia has spend hundreds of millions of $$$ in propaganda against hydro fracturing in the US and in Europe. Gazprom used a lobbying firm in DC and spend more than 100mil$ (some estimates are $300mil) to foment and fire up anti hydro fracturing hysteria in the US from 2010?2011-2014/15 and still probably do. If anyone wants to investigate Russian collusion and interference in US politics , then they should start one immediately on this, but they wont as it is against oil and gas and they folks (politicians) are more than happy to attack oil and gas in any way possible and will use foreign help and foreign agents and money to do that !!!! EOG Boosts Production With EOR Program In Eagle Ford Research shows the company has been able to yield up to 80% more oil in the Eagle Ford from its gas injection process. https://www.newsweek.com/putin-funding-green-groups-discredit-natural-gas-fracking-635052 https://www.newsweek.com/intelligence-putin-funding-anti-fracking-campaign-547873 https://www.dallasnews.com/business/2014/09/08/texas-railroad-commissioner-accuses-gazprom-of-trying-to-undermine-u-s-shale-boom/ https://www.centerforsecuritypolicy.org/2019/03/24/moscow-secretly-funded-us-anti-fracking-groups-is-it-now-attacking-us-energy-companies/ https://www.nytimes.com/2014/12/01/world/russian-money-suspected-behind-fracking-protests.html https://www.energyindepth.org/lawmakers-ask-probe-alleged-russian-funding-anti-fracking-groups/
  40. 1 point
    You would probably like one of my meals, except for the chicken breast
  41. 1 point
    Protein is an important nutrient for almost every part of your body. It keeps your skin, bones, muscles, and organs healthy. Amino acids are the building blocks of protein. Your body needs them to break down foods. Without meat and dairy, you still need to consume essential amino acids. Vegans can get protein from nuts, peanut butter, seeds, grains, and legumes. Non-animal products like tofu and soymilk also provide protein. Vegans have to consider getting enough “complete protein.” Protein is made up of small parts called amino acids. These help your metabolism. A complete protein contains all the amino acids your body needs. You can get complete protein by eating certain foods together. Examples include rice and beans or corn and beans. A person following a vegan or vegetarian diet should eat a varied diet of plant-based foods to get the required range of amino acids. This includes high-protein foods, such as tofu, tempeh, lentils, nuts, seeds, and quinoa - - - - - - - - - - - - - The percentages of essential amino acids in both animal and soy products closely mimic those found in human proteins, and they are, therefore, considered complete or high-quality protein. Non-soy plant proteins have a lower percentage of at least one amino acid, although all legumes are almost as “complete” as soy. A common belief is that most plant foods are completely devoid of at least one essential amino acid, but the truth is that all plant proteins have some of every essential amino acid. As a general rule, legumes are lower in the amino acid methionine while most other plants foods are lower in lysine. In general, though, only lysine is likely to be a concern for most vegans because almost all vegans naturally eat plenty of foods high in methionine. In an effort to make sure vegetarians were getting enough of all the amino acids, in the early 1970s in her book Diet for a Small Planet, Frances Moore Lappe popularized the idea of combining plant proteins at each meal in order to get a “complete” protein. The idea was that mixing beans and grains would allow you to ensure that you’re getting both methionine and lysine at each meal. Since the 1980s, it’s been well known that our livers store the various essential amino acids. For example, the 2009 American Dietetic Association’s Position Paper on Vegetarian Diets says: “Plant protein can meet requirements when a variety of plant foods is consumed and energy needs are met. Research indicates that an assortment of plant foods eaten over the course of a day can provide all essential amino acids and ensure adequate nitrogen retention and use in healthy adults, thus complementary proteins do not need to be consumed at the same meal.” In other words, just get enough lysine in general and you don’t need to worry about combining proteins. Haha note that a vegan can't have actual butter on the corn.
  42. 1 point
    So then does eating meat give you a fat head?
  43. 1 point
    While she is there, maybe she can go see the enviro carnage left behind and being done because of her smart phone for dumb people and all the fake green energy tech
  44. 1 point
    My relatives and myself have seen many Chinese moving into Southern California, and having babies in California to purposely make them citizens. I can't blame them, we allow it. The money has certainly helped our economy but the increase in real estate prices makes it tough on present citizens.
  45. 1 point
    In April the Permian became the highest producing field in the world—pumping about 4.2 MMbbl/d. To study the impact of the Permian’s continued production growth, Hastings Equity Partners commissioned a whitepaper in partnership with the University of Houston Energy Research titled “Opportunities and Challenges in the Permian.” “We wanted to understand the takeaway capacity of the Permian and where the incremental oil will end up,” said Ted Patton, founder and managing partner of Hastings Equity Partners. According to the study, advanced technologies such as enhanced seismic data gathering capabilities, horizontal drilling, hydraulic fracturing and multipad development techniques have allowed operators to realize cost savings of nearly 40% to drill and complete a well. “Clearly, the Permian Basin has defined our students’ careers in the industry. So the research was largely driven by the motivation to create awareness among faculty on educating the students on the Permian,” said Dr. Ramanan Krishnamoorti, chief energy officer at the University of Houston and co-author of the research. The report disclosed a few unanticipated findings, including the industry consolidation in the Permian Basin and the transportation challenges. Industry consolidation Major industry operators are estimated to produce more than half of the oil in the Permian over the next four years representing “a historic shift in economic power,” according to the study. As Patton pointed out, oil majors such as Exxon Mobil and Chevron have designed aggressive strategies to consolidate production, resources and supply chains that will meet the majority of the domestic needs. Consolidation by majors and increased pressure on the independents will lead to the gradual erosion and ultimate destruction of enterprise value among many oilfield service companies due to the lack of pricing power, Krishnamoorti said. If major operators continue acquiring acreage in the Permian as well as ownership stakes in the pipelines, downstream refineries and petrochemical facilities, then independent producers that traditionally sell to the majors will need to market internationally and export overseas, according to the findings of the study. “The Permian Basin used to be a place where wildcatters reigned, and now with technology, the economy is being driven by manufacturing,” Patton said. He added that independents are facing new limitations from the investment community to limit production volume to what can be achieved with cash on hand. At the same time, both Exxon Mobil and Chevron have each announced plans to produce 1 MMbbl/d. The inevitable result will be mergers by independents in an effort to survive, he said. Bottlenecks Pipeline capacity for the crude produced in the Permian has been a major bottleneck, but it will move back into balance with demand by the middle of 2020, if not before, according to Krishnamoorti. He added that the shortage of pipeline capacity and the resulting inability for producers to transport oil from the region has caused a significant discounting of the produced crude oil in the Permian and also has resulted in increasing the inventory of drilled but uncompleted wells. The study also revealed that although more than $90 billion is currently invested in construction projects for terminals, LNG, refining and petrochemical facilities along the Texas and Louisiana Coast, with another $200 billion planned for the next decade, construction can’t keep pace with the supply of oil coming out of the Permian. “The majority of the recent incremental capacity is and will continue to be directed at the Port of Corpus Christi,” Krishnamoorti said. Large volumes of U.S. crude are exported worldwide via marine routes. According to the findings of the study, another bottleneck facing the Permian over the coming years is the inability of ports to refill very large crude carriers (VLCCs), which are designed to carry 2 MMbbl of crude and are the largest and most economical vessels used for crude oil export. Waterways along the Gulf Coast don’t provide 75 ft of depth, which is needed to accommodate fully loaded carriers and as a result require lightering. The partial loading of VLCCs is a cost center for crude transport. Using several smaller ships for lightering adds to these costs. While the costs are relatively negligible for short distances, they compound to significantly higher expenses over longer distances such as for crude transport to Asia. The Louisiana Offshore Oil Port is the only U.S. facility that can harbor fully loaded VLCCs. The Louisiana Offshore Oil Port was previously used exclusively for imports and was recently modified to accommodate exports. The demand for U.S. crude has highlighted the need for deepwater terminals off the coast of Louisiana and Texas. Projects have been proposed, but permitting and execution permissions will delay progress, thereby creating additional bottlenecks, according to the study. Environmental concerns The research also recognized the need to address sustainability issues including natural gas flaring and water management. The associated gas cannot be appropriately valorized because of the absence of gathering and transportation pipelines and the reluctance of operators to invest significantly in gas infrastructure. In addition, technology to reinject the gas into the formation has not been fully developed to make it a viable option to handle the associated gas. The pipeline infrastructure to evacuate the oil out of the Permian will be built out on schedule with increased Permian production. However, environmental concerns have recently caused some doubts on the actual development and deployment of these pipelines, the study reported. For instance, deployment of pipelines across the Texas Hill Country faced stiff challenges from the local community. Moreover, the development of processing and storage units near Corpus Christi also encountered similar opposition from the community. The flaring and direct release of natural gas have resulted in a negative reaction toward the growth of Permian production. Also, the report suggests that the issues of water usage for hydraulic fracturing and management of produced water continue to grow and the lack of solutions are causing considerable dismay among local communities in these areas. Conclusion The study forecasts a bright future for the continued growth of production from the Permian Basin. “[That] won’t happen without continued planning, infrastructure growth and adjustments to market condition,” Krishnamoorti said. He added that all the operators, especially independent producers, “must adapt to market realities and become adept at maneuvering through the export process. Gulf Coast ports and the ancillary infrastructure will have to learn to manage the additional congestion and technical obstacles posed by increased crude oil and LNG exports.”
  46. 1 point
    Permian Operators Delivering Strong Production Permian production continues its market domination There are 380 operators active in the Permian Basin, and large and small independents and private-equity companies account for 80% of production, according to a recent Midland Reporter-Telegram article. Stratas Advisors reports that strong growth in the Permian will continue to boost U.S. production. “When looking into the data from operators in the Permian (Bone Spring, Spraberry, Wolfcamp Delaware and Wolfcamp Midland) the term ‘bigger is better’ is ringing true. Since the beginning of 2017, the average of the top three quintiles has seen lateral lengths, fluid volumes and proppant volumes increase. This has resulted in peak rates in the Permian to rise 40%,” Whitney Gomila, a senior analyst with Stratas Advisors, told E&P. “Looking ahead to 2020, Stratas expects Permian production to average 8 MMboe/d (~15% YoY), which represents almost 30% of Lower 48 production.” GlobalData recently reported that the Permian Basin is “the most prolific shale play in the world” and attributes this to its “abundant hydrocarbon reserves and the ability to drill longer laterals.” In the report, GlobalData identified companies such as Occidental Petroleum, Chevron, Pioneer Natural Resources, Concho Resources and EOG Resources as among the leading producers in the Permian Basin shale in 2018. In the following section, E&P profiles some of the most active Permian operators, providing their recent production updates and strategies moving forward. Apache Corp. Apache’s Permian production averaged 226,000 boe/d during the second quarter, and the company operated an average of 12 rigs and drilled and completed 54 gross operated wells, according to Apache’s second-quarter 2019 results report. In the Midland Basin, the company averaged four rigs and placed 20 wells on production during the second quarter. In the Delaware Basin outside of Alpine High, Apache averaged three rigs and placed nine wells on production during the second quarter. At Alpine High, the company averaged five rigs and two frac crews and placed 26 wells on production during the second quarter, and production was reported at 49,000 boe/d. “Apache continues to deliver cost reductions in the Delaware Basin with average drilling and completion costs per foot down 26% and 41%, respectively, from 2017 through the end of the second quarter,” according to the report. “While total Permian production volumes were strong, oil volumes trailed guidance due to timing delays bringing wells online during the quarter. We will catch up in the second half of 2019 and exit the year with oil production on plan and with strong momentum heading into 2020,” Apache CEO and President John J. Christmann IV said in the report. For Permian Basin oil, Apache expects third-quarter production to be 94,000 boe/d to 98,000 boe/d and fourth-quarter production to be 100,000 boe/d to 105,000 boe/d. At Alpine High, Apache expects third-quarter production to be between 70,000 boe/d to 75,000 boe/d. In addition, as stated in the report, one of Apache’s second-half 2019 objectives is to increase Permian Basin oil well completions and oil production. BPX Energy, a division of BP In October 2018, BP Plc changed the name of its Lower 48 business to BPX Energy. “The change marks a new era of growth for BP’s U.S. onshore oil and gas unit, which has operated as a separate entity since 2015,” the company stated on its website. BPX Energy produces primarily natural gas, along with oil, condensate and NGL. In November 2018, BP completed a $10.5 billion acquisition of BHP Billiton’s unconventional oil and gas assets in the Permian-Delaware Basin in Texas, along with two premium positions in the Eagle Ford and Haynesville shale plays in Texas and Louisiana. At the time of the acquisition, the assets were producing 190,000 boe/d, of which about 45% were liquid hydrocarbons, BPX reported. In February of this year, Mohit Singh, senior vice president of business development and exploration for BPX Energy, presented at Hart Energy’s DUG Haynesville conference and shared how BP is transforming its U.S. onshore business following that $10.5 billion acquisition last year. Starting March 1, the company took over operations from BHP. “The deal includes assets in the Permian’s Delaware Basin, adding about 41,000 boe/d in production with 3,390 gross drilling locations on an 83,000-acre position,” a HartEnergy.com article stated. By 2021 BPX Energy expects to have 3,500 wells (down from 9,400 in 2018) and operate in only the Delaware, Eagle Ford and Haynesville (down from six basins prior to divestitures), according to the article. In its second-quarter 2019 results report, BPX Energy reported it had an average of three company-operated rigs in the Permian during the quarter. Centennial Resource Development Inc. Centennial Resource Development is an independent oil producer with assets in the Delaware Basin in New Mexico and Texas. The company has about 80,100 net acres (90% operated) and about 2,400 horizontal drilling locations (about 60% oil). In the second quarter this year, average crude oil production increased 38% to 43,105 bbl/d of oil compared to the prior year period, and average total equivalent production increased 32% in the second quarter and 33% for the first six months of 2019 compared to prior year periods, according to Centennial’s second-quarter 2019 results press release. As of Aug. 5, Centennial expected to reduce its operated rig count from six to five in September, maintaining a five-rig drilling program for the remainder of the year. Chevron In the Permian Basin, Chevron reported net production of 159,000 bbl/d of crude oil, 501 MMcf/d of natural gas and 66,000 bbl/d of NGL in 2018. “We are among the largest producers of oil and natural gas in the basin, and with approximately 2.2 million net acres, Chevron is one of the Permian Basin’s largest net acreage holders,” the company stated on its website. Second-quarter 2019 unconventional production in the Permian was 421,000 bbl/d, representing growth of more than 50% compared to a year ago, according to Chevron’s second-quarter 2019 results news release. Chevron has added almost 7 Bbbl of resource and doubled its portfolio value over the past two years in the Permian Basin, according to a March 2019 company press release. “Permian unconventional net oil-equivalent production is now expected to reach 600,000 barrels per day by the end of 2020 and 900,000 barrels per day by the end of 2023,” the release stated. The company also recently entered into agreements to purchase renewable power in Texas for its Permian Basin operations. imarex Energy Co. Cimarex Energy Co. is an independent oil and gas E&P company that invested $325 million in exploration and development during the second quarter, of which 83% was focused in the Permian Basin, according to the company’s second-quarter 2019 results report. In the first half of the year, Cimarex brought 56 gross (37 net) wells on production in the Permian. Of those, 44 gross (32 net) wells were completed during the second quarter. As of June 30, there were 44 gross (20 net) wells waiting on completion and Cimarex was operating eight drilling rigs and two completion crews in the region, the report stated. Production from the Permian averaged 188,703 boe/d in the second quarter, a 55% increase from the same quarter a year prior. Oil volumes averaged 70,669 bbl/d, a 45% increase from the second quarter in 2018 and up 9% sequentially, the report stated. Cimarex added more Permian Basin assets through its acquisition of Resolute Energy Corp. in March in a deal valued at $1.6 billion, including debt. In August 2018, Cimarex sold oil and gas properties principally located in Ward County, Texas, for $544.5 million to Callon Petroleum, according to a company press release. Production from these properties was reported at approximately 6,831 boe/d (73% oil) and was mostly from the Bone Spring Formation. The undeveloped acreage included 18,925 net Wolfcamp acres of which 11,500 net acres had rights to the base of the Wolfcamp, according to the release. Concho Resources In July 2018, Concho acquired RSP Permian Inc. in a $9.5 billion merger. “The transaction created the largest unconventional shale producer in the Permian Basin,” according to a company press release. Concho’s second-quarter 2019 production was approximately 30 MMboe, or an average of 329,000 boe/d, according to the company’s second-quarter 2019 results report. Average oil production totaled 206,000 bbl/d, natural gas production totaled 737 MMcf/d and the company averaged 26 rigs during the second quarter. As of July 31, the company was running 18 rigs, including 11 rigs in the Delaware Basin and seven rigs in the Midland Basin, and utilizing seven completion crews. In July Concho Resources Inc. and Solaris Water Midstream LLC formed a joint venture focused on “optimizing produced water logistics at scale in the Northern Delaware Basin,” a press release stated. “Under the terms of the agreement, Solaris Water will manage Concho’s produced water gathering, transportation, disposal and recycling for an area covering approximately 1.6 million acres located primarily in Eddy County, N.M. Concho will contribute 13 saltwater disposal wells and approximately 40 miles of large-diameter produced water gathering pipelines in exchange for cash and an equity ownership in Solaris Midstream Holdings LLC, the parent of Solaris Water.” ConocoPhillips ConocoPhillips holds about 800,000 net acres in the Permian Basin, which includes 87,000 net acres in the Delaware Basin and 58,000 unconventional net acres in the Midland Basin. In 2018 ConocoPhillips reported average total net production of 38,000 boe/d, which included 21,000 bbl/d of crude oil, 5,000 bbl/d of NGL and 77 MMcf/d of natural gas, for its conventional Permian assets, according to a March 2019 company fact sheet. The company also reported 2018 average total daily net production of 28,000 boe/d, which included 14,000 bbl/d of crude oil, 6,000 bbl/d of NGL and 49 MMcf/d of natural gas, for its unconventional Permian assets. The company brought 36 operated wells online in 2018. According to COO Matt Fox, the company’s Permian assets are considered early in their life cycle with significant growth ahead. He said it will be several years before the company reaches a plateau there but has a rigorous approach to development in the area. “We will be, over time, increasing our activity in the Permian as we move from the mode we’re in just now, which is essentially making sure that we’re optimizing the well spacing and stacking and the order of which we tackle the various zones that exist within our Permian acreage. Once we’ve got that completed, then we’ll increase to more sustainable rig count there to build toward [the] plateau,” Fox said during the company’s second-quarter 2019 earnings call. Devon Energy Corp. Devon Energy’s operations in the Delaware Basin of West Texas and southeast New Mexico provide both oil and natural gas production from its core acreage position consisting of 280,000 net acres across multiple formations. The company’s current focus is in the oil-rich Wolfcamp, Bone Spring, Leonard and Delaware formations. In 2018 the company reported net production of 75,000 boe/d (77% liquids) and 249 MMboe reserves in the Delaware Basin. Last year Devon sold 9,600 net acres of noncore Delaware Basin acreage in Ward and Reeves County to Carrizo Oil and Gas for $215 million, a press release stated. According to the company’s first- and second-quarter 2019 results reports, Devon’s “strongest asset-level performance” for the quarters was achieved by its Delaware Basin operations in southeast New Mexico. In the second quarter, production from this play increased 58% year over year, driving volumes in the Delaware Basin to 120,000 boe/d. A key growth driver was 28 new wells brought online in the state-line area that averaged initial 30-day rates of approximately 2,100 boe/d per well, of which 70% was oil, according to the second-quarter report. Diamondback Energy Inc. Diamondback Energy is a pure-play Permian Basin operator with second-quarter 2019 production that averaged 280,400 boe/d (68% oil), up 149% year over year from 112,600 boe/d in the second quarter of 2018, according to the company’s second-quarter 2019 results report. In the first half of the year, Diamondback drilled 172 gross horizontal wells and turned 151 operated horizontal wells to production. In the second quarter, Diamondback drilled 89 gross horizontal wells and turned 69 operated horizontal wells to production, according to the report. Diamondback expects full-year 2019 guidance for average production to be between 277,000 boe/d to 284,000 boe/d, according to the report. In November 2018, Diamondback acquired Energen Corp., which nearly doubled the company’s core acreage position, in an all-stock transaction valued at about $9.2 billion, company press releases stated. Diamondback also acquired Ajax Resources last year in a transaction valued at about $1.25 billion. This deal also increased Diamondback’s Permian drilling inventory. Encana Corp. Encana’s second-quarter 2019 production in the Permian Basin averaged a record 104,000 boe/d (84% liquids). “Encana continues to demonstrate efficiency gains with its four-rig program focused on cube development,” the company stated in its second-quarter 2019 results report. “A recent 14-well pad in Martin County, Texas, commenced production and is averaging 14,900 bbl/d after 90 days.” This year the company plans to focus 75% of its activity in the Midland, Martin and Upton counties of the Permian Basin, according to the company’s corporate presentation released in August. Encana’s fiscal year 2019 plans in the Permian include having 105 to 120 net wells drilled and onstream. In February Encana acquired Newfield Exploration Co. in an all-stock transaction valued at about $5.5 billion. ndeavor Energy Resources LP Endeavor Energy Resources LP is a private E&P company with more than 370,000 net acres in the Midland Basin. More than 95% of that total gross acreage is HBP. According to the company, it holds among the largest land positions in the Midland Basin. The company reported record average net production of approximately 111,800 boe/d (73% oil) during the second quarter, a 60% increase from the average net production of approximately 69,800 boe/d (70% oil) for the same quarter the year prior, according to Endeavor’s second-quarter 2019 operating results report. Endeavor placed 38 gross operated horizontal wells on production during the second quarter, achieving an average 30-day IP rate of 1,141 boe/d (78% oil). EOG Resources Inc. EOG Resources reported a 7,050 boe/d gross 30-day average IP rate in the Delaware Basin in the second quarter of 2019. Crude oil and condensate totaled 1,950 bbl/d in the Wolfcamp, 1,300 bbl/d in the Bone Spring and 1,200 bbl/d in the Leonard Shale, according to the company’s second-quarter 2019 results report. NGL totaled 450 bbl/d in the Wolfcamp, 300 bbl/d in the Bone Spring and 600 bbl/d in the Leonard Shale in the second quarter. In addition, natural gas was reported at 2.9 MMcf/d in the Wolfcamp, 1.6 MMcf/d in the Bone Spring and 3.1 MMcf/d in Leonard. EOG Resources brought online 63 gross (57 net) wells in the Wolfcamp, five gross (five net) wells in the Bone Spring and three gross (three net) wells in the Leonard Shale during the second quarter. According to Hart Energy’s “Top 12 IP Wells in the Permian Basin” released in August, seven of EOG’s Wolfcamp wells made the list (data for the list were gathered from IHS). Matador Resources Co. Matador Resources’ operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in southeast New Mexico and West Texas. During the second quarter of 2019, Matador focused on the exploration, delineation and development of its Delaware Basin acreage position in Loving County, Texas, and Lea and Eddy counties in New Mexico, according to the company’s second-quarter 2019 results report. Matador is operating six drilling rigs in the Delaware Basin. Delaware Basin average oil production increased 3% sequentially to 32,800 bbl/d, and Delaware Basin average natural gas production decreased 8% sequentially to 113.5 MMcf/d, each as compared to the first quarter of 2019, the report stated. For the remainder of the year, Matador expects to continue operating only six drilling rigs in the Delaware Basin and has no plans to add a seventh rig to its 2019 drilling program. Mewbourne Oil Co. Headquartered in Tyler, Texas, Mewbourne Oil Co. develops oil and natural gas prospects, acquires leasehold interests and serves as the operator in the drilling, completion and production of oil and natural gas wells. Focusing on the Anadarko and Permian basins, the company operates more than 2,300 wells. “Mewbourne has become the largest privately owned oil producer in America and the largest private producer in the Permian,” according to the company. In the second quarter of 2019, Mewbourne averaged approximately 80,000 bbl/d of oil and 300 MMcf/d in the Permian. The company has nine rigs running in southeast New Mexico. Occidental Occidental is the leading producer in the Permian Basin, following its acquisition of Anadarko in August. The company has operations focused on the Delaware and Midland basins as well as the Central Basin Platform. Occidental manages operations in the Permian Basin through two complementary businesses: Permian Resources, which consists of growth-oriented unconventional opportunities, and Permian Enhanced Oil Recovery (EOR), which uses EOR techniques, such as CO2 flooding and waterfloods. Occidental is the largest injector of CO2 for EOR in the Permian, a method that can increase oil recovery by 10% to 25%, according to the company. Occidental is advancing CO2 EOR as a form of carbon capture, utilization and sequestration, a process that has the potential to reduce greenhouse-gas emissions. Occidental stores 18 MMtons of CO2 per year in its operations. Pre-acquisition, Permian Resources’ average production volumes exceeded guidance at 289,000 boe/d for the second quarter of 2019, an increase of 11% from the prior quarter due to improved well performance and development activity, according to Occidental’s second-quarter 2019 earnings release. The business delivered 26 of the top 100 wells while only drilling 7% of wells in the Delaware Basin, the report stated. Year-over-year Permian Resources’ production for the second quarter of 2019 increased by 44%. On July 31, Occidental and Ecopetrol announced a joint venture to develop 97,000 net acres of Occidental’s Midland Basin properties, allowing Occidental to accelerate its development plans while maintaining operatorship, the report stated. The transaction is expected to close in the fourth quarter. Parsley Energy Inc. Parsley Energy Inc. is an independent oil and natural gas company focused on the acquisition, development, exploration and production of unconventional oil and natural gas properties in the Permian Basin. Net oil production increased 10% from the first quarter to the second quarter of 2019 and increased 28% year over year to 86,600 bbl/d of oil, according to Parsley’s second-quarter 2019 results report. During the second quarter, total net production averaged 140,100 boe/d, and the company spudded 41 wells and placed 39 gross operated horizontal wells on production (33 in the Midland Basin and six in the Delaware Basin). “Parsley expects that development activity will remain weighted to the Midland Basin for the remainder of the year,” the report stated. Looking ahead, Parsley plans to run a maximum of 11 development rigs and three to four frac spreads for the rest of the year. The company also increased its full-year 2019 net oil production guidance to between 85,000 bbl/d and 86,500 bbl/d of oil, the report stated. Pioneer Natural Resources Pioneer Natural Resources is a Permian pure-play company headquartered in Dallas, Texas. Second-quarter 2019 Permian production averaged 330,000 boe/d and oil production averaged 206,000 bbl/d, according to the company’s second-quarter 2019 results report. The company plans to operate an average of 21 to 23 horizontal rigs in the Permian Basin this year. This program is expected to place 265 to 290 wells on production. This activity level is projected to deliver 2019 Permian production of 320,000 to 335,000 boe/d and 203,000 to 213,000 bbl/d of oil, representing approximately 12% to 17% growth over 2018 production levels, the report stated. Shell Since Shell reentered the Permian Basin in 2012, it has high-graded its acreage, simplified the business, reduced costs and rapidly deployed technology to improve safety and increase production, according to the company. Shell operates in the Delaware Basin and is located in Loving, Ward, Winkler and Reeves counties. The company has interest in more than 500,000 acres (260,000 net acres) in the Delaware Basin with a focus on the Wolfcamp, Bone Springs and Avalon formations. Shell has more than 1,300 operated and nonoperated wells in the Permian, and production has increased to more than 120,000 boe/d in 2018 (operated and nonoperated). WPX Energy Inc. Independent energy producer WPX Energy has 130,000 net acres in the Permian’s Delaware Basin. The majority of this land is located in Loving County, Texas, and Eddy County, N.M. These assets have existing production from 10 benches in the Delaware play. WPX’s Delaware production averaged 96,600 boe/d in the second quarter of 2019, which was 30% higher than 74,400 boe/d in the same period a year ago, according to the company’s second-quarter 2019 results report. Oil production of 46,400 bbl/d comprised 48% of second-quarter total Delaware production, and oil volumes were up 19% versus 39,100 bbl/d in the second quarter a year ago. WPX completed 16 Delaware wells during the second quarter, according to the report. The company had 5.6 rigs operating in the Delaware during the first half of the year and plans to have five rigs operating in the second half of the year.
  47. 1 point
    It may seem that way. But having actually done business there my impression is that IOCs in reality like the chaos because it lets them negotiate very favourable terms. I don't have an opinion on the specific demand. But I would just like to point out that the IOCs are not stalwarts of virtue.
  48. 1 point
    Really? The graph I linked doesn't show that at all - the minimum was more than $12 for maybe three months, but perhaps this is just a detail. The Nigerians and the oil majors must have been referencing something so they must have been using some sort of index.. anyway, otherwise I thoroughly agree.. its strongarm stuff with a legal cover. Shades of Venezuela...
  49. 1 point
    Very good observation. The 'rioters' as you say should all just take a beating and everyone lives happily ever after. Brilliant logic. If they take a beating for standing up for what they believe in, and they're listened to, then you respect them. That's essentially what you're saying. UK then and China now .... hmmm, yep... I can see how you came to that very easy comparison. You know it's 2019 yes? I just wanna clarify which world you live in... Unreal. * written from my armchair in a cowardly fashion.
  50. 1 point
    So, you believe that India under British rule and Hong Kong under Chinese rule are equivalent situations? Do you honestly believe that Communist China would ever respect passive resistance? I believe that passive resistance in HK, at the level and duration which occurred in India, would have still resulted in a violent response by the authorities. You do remember Tianamen Square don’t you?