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6 minutes ago, BLA said:

Their fields are populated with 11,000 ancient wells. 

The wells are producing with a high percentage of water pressure.  If the fields are shut down they will never be able to restart them.  Huge production lost.

Russian economy is 40% energy.  Not good. 

Ok. 

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Just now, Uduak said:

Ok. 

Yes

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1 hour ago, BLA said:

Their fields are populated with 11,000 ancient wells. Very old. 

The wells are producing with a high percentage of water pressure.  These wells are 10:1 water to oil.  If these fields are shut down they will never be able to restart them.  Huge production lost.

11,000 ancient wells, so what does that mean? 

Have you been to any Russian oilfields?

Have you been to Russia?

Big Statement to say Rosneft is screwed, surely they and us deserve a better explanation as Im sure its a little more complicated than screwed.

 

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(edited)

1 hour ago, James Regan said:

 

11,000 ancient wells, so what does that mean? 

Have you been to any Russian oilfields?

Have you been to Russia?

Big Statement to say Rosneft is screwed, surely they and us deserve a better explanation as Im sure its a little more complicated than screwed.

 

Yes, I have been to Russia. 

Have you ?

* Depleted low volume wells

* Low pressure

*  Water to Oil ration 10:1

Big statement.  True statement.  

Any other questions let me know. 

It's not complicated at all.  If you are the largest oil producer in Russia.  If a majority of your production comes from 11,000 old wells with a water to oil ratio of 10 1 you are. .  .  .   SCREWED  .  .  .  if you have to shut them down!  Those wells will be fini.

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24 minutes ago, BLA said:

Yes, I have been to Russia. 

Have you ?

Big statement.  True statement.  

Any other questions let me know. 

It's not complicated at all.  If you are the largest oil producer in Russia.  If a majority of your production comes from 11,000 old wells with a water to oil ratio of 10 1 you are. .  .  .   SCREWED  .  .  .  if you have to shut them down!  Those wells will be fini.

So what CAN they shut down safely? Yamal?

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Screw them, What happened to there claim of profitability at $8.00 per barrel! Putin’s only care is himself and reconnecting the CCCP. It’s my hope he drowns in oil after what that prick did to U.S. stock market in 80’s....

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(edited)

8 hours ago, 0R0 said:

So what CAN they shut down safely? Yamal?

Yea, Arctic oil production has been increasing on the Yamal peninsula. I don't know if it is economically feasible considering the trends in oil pricing.  

The Russia companies need JV partners to move forward.  They need the capital infusion.  That was the situation for Gazprom natural gas development in Yamal.

Exxon had a large JV project to explore and develop their Arctic.  They withdrew. 

Supposedly they have some major fields they plan to develop in the self.  Heard of some development near the Volga River Delta / Caspian Sea.  

They will probably continue to work with Iran and Venezuela.  

We probably won't be able to clearly the future of the industry players until after the Covid virus is under control.

 

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11 minutes ago, RichieRich216 said:

Screw them, What happened to there claim of profitability at $8.00 per barrel! Putin’s only care is himself and reconnecting the CCCP. It’s my hope he drowns in oil after what that prick did to U.S. stock market in 80’s....

What did he do to stock market in the 80's. ? 

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1 hour ago, BLA said:

Yes, I have been to Russia. 

Have you ?

* Depleted low volume wells

* Low pressure

*  Water to Oil ration 10:1

Big statement.  True statement.  

Any other questions let me know. 

It's not complicated at all.  If you are the largest oil producer in Russia.  If a majority of your production comes from 11,000 old wells with a water to oil ratio of 10 1 you are. .  .  .   SCREWED  .  .  .  if you have to shut them down!  Those wells will be fini.

What is the source of information about 11000 old wells with Water:Oil 10:1?

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Russia is doing great   The ruble crashed helping off set some of the price crash.     LNG is dead, so that means EU and China are their markets to own.   And they are a very diversified economy now.  Agriculture is HUGE in Russia right now.  They have the most fertile land in the world and their grain production keeps growing every year.  The farmers are run corporately and they are applying modern farming concepts 

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28 minutes ago, NessyOil said:

Russia is doing great   The ruble crashed helping off set some of the price crash.     LNG is dead, so that means EU and China are their markets to own.   And they are a very diversified economy now.  Agriculture is HUGE in Russia right now.  They have the most fertile land in the world and their grain production keeps growing every year.  The farmers are run corporately and they are applying modern farming concepts 

The huge agriculture export is also the reason that the weak Ruble is not a solution for their low oil prices because the people are priced out of the food market. That makes it more of a problem, not less. As the Covid 19 is causing other countries to hoard food and grain exports fall, demand for Russian (and other) grain is rising. So their production is exported while their people can't afford to feed themselves. Some time back when we were working out Russia's situation in the oil price war, I pointed out that the Russian CB was defending the currency and losing reserves. Thus they were undermining their own plan of maintaining Russian Ruble oil prices at about the same level. 

Thus I think the food inflation that comes with a falling oil price and falling Ruble is not a realistic option for Russia, as some people will simply not have enough money for food. 

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“  If a majority of your productioncomes from 11,000 old wells with a water to oil ratio of 10 : 1 you are. .  .  .   SCREWED“

If you are ANY oil company whose majority of production comes from 11,000 old, depleted wells with a 10:1 water cut, I’d say that you have some serious management and planning issues!

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(edited)

3 hours ago, Douglas Buckland said:

“  If a majority of your productioncomes from 11,000 old wells with a water to oil ratio of 10 : 1 you are. .  .  .   SCREWED“

If you are ANY oil company whose majority of production comes from 11,000 old, depleted wells with a 10:1 water cut, I’d say that you have some serious management and planning issues!

In here lies the questions that how the one of the biggest companies in Russia is "screwed", I have been to Russia and some of the former countries with a Jan or Stan on the end. All of which are former Russian oil plays. To blanket Russia with such a statement shows the ignorance and very bias opinions based on political persuasion or cultural disparities, venom often spat out on this forum lately. 11K depleted wells doesn't give you any leverage to be discussing world market share with the big boys. 

Edited by James Regan
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(edited)

6 hours ago, BLA said:

Yes, I have been to Russia. 

Have you ?

* Depleted low volume wells

* Low pressure

*  Water to Oil ration 10:1

Big statement.  True statement.  

Any other questions let me know. 

It's not complicated at all.  If you are the largest oil producer in Russia.  If a majority of your production comes from 11,000 old wells with a water to oil ratio of 10 1 you are. .  .  .   SCREWED  .  .  .  if you have to shut them down!  Those wells will be fini.

Once again you refuse to offer any discussion other than your opinion. Opinions are like rectums and will not carry you any further if you cannot back it up, so please show the facts that lead you to make this dubious at best Blockbuster "Breaking News"

If your going to start a thread, you may want to do some research as you will definitely be expected to embellish not reply smart ass wise guy comments on serious matters. You started the discussion so man up.

Have you ever driven by an oilfield?

Edited by James Regan
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(edited)

1 hour ago, Douglas Buckland said:

If you are ANY oil company whose majority of production comes from 11,000 old, depleted wells with a 10:1 water cut, I’d say that you have some serious management and planning issues!

And this is ROSNEFT we are talking about, not "Busted Shovel Drilling Inc" A company so screwed due to production issues that they have sanctions working against them to boot. Putins darling company screwed it beggars belief.

Edited by James Regan
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6 hours ago, NessyOil said:

Russia is doing great   The ruble crashed helping off set some of the price crash.     LNG is dead, so that means EU and China are their markets to own.   And they are a very diversified economy now.  Agriculture is HUGE in Russia right now.  They have the most fertile land in the world and their grain production keeps growing every year.  The farmers are run corporately and they are applying modern farming concepts 

You're correct re their grain markets.  China becoming a large customer.

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(edited)

4 hours ago, James Regan said:

Once again you refuse to offer any discussion other than your opinion. Opinions are like rectums and will not carry you any further if you cannot back it up, so please show the facts that lead you to make this dubious at best Blockbuster "Breaking News"

If your going to start a thread, you may want to do some research as you will definitely be expected to embellish not reply smart ass wise guy comments on serious matters. You started the discussion so man up.

Have you ever driven by an oilfield?

 

"Have you ever driven by an oilfield?"

I did change the oil in my pickup truck once.

LOL

Yes I have been to several oil fields .  .  .  .  .  

.  .   .   .   and if Rosneft shuts down any of those old 11,000 wells that are 10:1 ratio they won't be able to restart them. 

Edited by BLA
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On 4/7/2020 at 10:53 PM, Douglas Buckland said:

“  If a majority of your productioncomes from 11,000 old wells with a water to oil ratio of 10 : 1 you are. .  .  .   SCREWED“

If you are ANY oil company whose majority of production comes from 11,000 old, depleted wells with a 10:1 water cut, I’d say that you have some serious management and planning issues!

Thank you

Can you please explain this to James.  It appears his experience is limited to Ocean Rigs

Thanks in advance

 

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I had a chat with James, and I am confused!

Are you saying Rosneft is the company with 11,000 shitty wells?

Honestly, could you reiterate what you are trying to say? I’ll get back to once I am sure that I understand YOUR position, which will give me some reference to James’ replies.

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52 minutes ago, BLA said:

Thank you

Can you please explain this to James.  It appears his experience is limited to Ocean Rigs

Thanks in advance

 

Fight your own battles, Ocean Rigs ????

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On 4/7/2020 at 4:38 PM, BLA said:

Their fields are populated with 11,000 ancient wells. Very old. 

The wells are producing with a high percentage of water pressure.  These wells are 10:1 water to oil.  If these fields are shut down they will never be able to restart them.  Huge production lost.

Russian economy is 40% energy.  Not good. 

Same story with ghawar

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55 minutes ago, James Regan said:

Fight your own battles, Ocean Rigs ????

He means floaters, jack-ups, drillships and so forth. Basically everything with a mast/derrick and drillfloor which is not a dirt rig.

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Russsia is on a 2 front battle that people have forgotten.  They have lost 30% of  NG sales volumes to LNG and Egypt/ Israel.  Ontop the prices have came down 70% in the last few years . In oil the Saudis threatened the same thing . Lower prices 70% and flood the market to take 30% market share. I compair them to Canadian company VET that had a massive dividend and claimed they could withstand 30$ oil like 2015.... then cut the dividend at 45$ . They sell nat gas in EU ...2018 showed 11$ US sales 2019 think it was at 4.50$ US. So in context yes they can withstand oil at 30$ .... if gas is 11$ lol. (Oups left that line out!) 

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