Tom Kirkman + 8,860 April 18, 2019 Haaretz article about Saudi oil. This series could get interesting. Oil and Politics - my favorite spicy dish : ) Saudi Arabia, oil superpower, now forced to play by others’ rules As more countries reduce their dependence on Saudi crude oil, the kingdom is trying to transform its economy – and finds itself at the mercy of buyers 2 Quote Share this post Link to post Share on other sites
Justin Hicks + 162 JH April 18, 2019 2 hours ago, Tom Kirkman said: Haaretz article about Saudi oil. This series could get interesting. Oil and Politics - my favorite spicy dish : ) Saudi Arabia, oil superpower, now forced to play by others’ rules As more countries reduce their dependence on Saudi crude oil, the kingdom is trying to transform its economy – and finds itself at the mercy of buyers That's a cute little pumpjack! I used to have a wooden one like that and a wooden derrick, played with them for hours!😊 That being said, I still believe Saudi Arabia has a thing or two up their sleeve. Gotta to remember, the "shale revolution" has come about because we're using secondary recovery methods, and have been for the last 15 plus years. Saudi Arabia is just now exploring secondary recovery methods, and thanks to us, the technology has gotten better and way cheaper, as most of the bugs have been worked out of the process( except exact dendrite propagation, still working that one out). I believe the next 10 years will be fun to watch. 1 Quote Share this post Link to post Share on other sites
ceo_energemsier + 1,818 cv April 18, 2019 (edited) MaxthonSnap20190417215601.jpg 1 hour ago, Justin Hicks said: That's a cute little pumpjack! I used to have a wooden one like that and a wooden derrick, played with them for hours!😊 That being said, I still believe Saudi Arabia has a thing or two up their sleeve. Gotta to remember, the "shale revolution" has come about because we're using secondary recovery methods, and have been for the last 15 plus years. Saudi Arabia is just now exploring secondary recovery methods, and thanks to us, the technology has gotten better and way cheaper, as most of the bugs have been worked out of the process( except exact dendrite propagation, still working that one out). I believe the next 10 years will be fun to watch. I dont think Shale is a secondary recovery, if I am interpreting your meaning of secondary= EOR? Shale will see a resurgence again from actual EOR applications suitable for shale , all those older shale wells drilled during the 2005+ era will be put under various suitable EOR techs and recover an additional 15-30% oil. As of right now, the Permian is producing more oil than KSA's giant Ghawar field. However ,you are correct to a certain degree that KSA has a few tricks up their sleeves. They have sufficient $$$ to hire the best minds and engineers and acquire the best tech under various structures to reduce their production decline and actually increase production from those fields. And they still havent gone on a major shale expedition. They are a major oil game player and will be for a considerable amount of time, but they have to fight hard now to keep up their game. They also have a risk of their own internal structure collapses , then it will be a real schitt show just like what happened to their neighbors during tumultuous times and turmoil. Here are a couple of models I keep around. Edited April 18, 2019 by ceo_energemsier 1 Quote Share this post Link to post Share on other sites
ceo_energemsier + 1,818 cv April 18, 2019 3 hours ago, Tom Kirkman said: Haaretz article about Saudi oil. This series could get interesting. Oil and Politics - my favorite spicy dish : ) Saudi Arabia, oil superpower, now forced to play by others’ rules As more countries reduce their dependence on Saudi crude oil, the kingdom is trying to transform its economy – and finds itself at the mercy of buyers They have to transform their economy, get their own citizens to step up and diversify their Uni based education plus vocational training and spend billions more to try and diversify, which means they need to capture the maximum amount of oil revenues wit max. amount of oil profits for all those goals, while fighting for their market share and the requirements and demands of the industry and the buyers of their hydrocarbons. The competition is getting stronger for market share. They also have a wide variety of other minerals (mining industry, gold/copper/iron/REEs etc) which they have been aggressively developing for a long time but they need more investments to get the full potential of that sector. 2 Quote Share this post Link to post Share on other sites
Justin Hicks + 162 JH April 18, 2019 9 hours ago, ceo_energemsier said: I dont think Shale is a secondary recovery, if I am interpreting your meaning of secondary= EOR? Shale will see a resurgence again from actual EOR applications suitable for shale , all those older shale wells drilled during the 2005+ era will be put under various suitable EOR techs and recover an additional 15-30% oil. As of right now, the Permian is producing more oil than KSA's giant Ghawar field Correct sir, I should have said fracturing when I referred to secondary recovery, as conventional means have not produced desired results in the last 20 years. It will be interesting to see just what the Ghawar is capable of when they begin hydraulic fracturing. 1 Quote Share this post Link to post Share on other sites
ceo_energemsier + 1,818 cv April 18, 2019 1 hour ago, Justin Hicks said: Correct sir, I should have said fracturing when I referred to secondary recovery, as conventional means have not produced desired results in the last 20 years. It will be interesting to see just what the Ghawar is capable of when they begin hydraulic fracturing. They have tried water flood, and will try hydraulic fracturing and before that probably polymer flooding and other EOR techniques. They will use horizontal drilling and directional drilling to get into the sweet spots and use the existing wells to use as a base to kick off horizontals and directional drilling. Again this is speculation on my part about their course of action. Quote Share this post Link to post Share on other sites
John Foote + 1,135 JF November 14, 2019 Clearly written with an Israeli viewpoint, but concerning KSA pretty much gets it right. Quote Share this post Link to post Share on other sites