James Regan + 1,776 July 24, 2019 Shale is definitely not being monitored are taken care of, how is this possible. Oilprice - However, new satellite data from data firm Kayrros finds that the number of DUCs is likely vastly smaller than public data suggests. Even more damning is that the number of wells completed last year might have been much higher than previously thought, which suggests that the industry needs more wells than expected to produce as much as they are. Kayrros said that according to satellite data, “more than 1,100 wells were completed in the Permian basin but not reported through state commissions or FracFocus, a public repository for information on the chemicals used during fracking,” Kayrros said in a statement. “Kayrros measurements reveal that public data fail to capture the full scale of fracking. The macroeconomic implications of this underreporting are far-reaching.” Because it takes many more wells to produce the current volume of oil, “the average well is both less productive and higher-cost than reflected in public data,” Kayrros said. End quote This doesn’t seem like a healthy business model with any meaningful oversight! Quote Share this post Link to post Share on other sites
cbrasher1 + 272 CB July 25, 2019 can oil drill its way out of debt? we seem to forget there are other business models that are buried in debt as well...below is such an example, what say you all on this?? https://www.bloomberg.com/opinion/articles/2019-05-07/-100-billion-of-debt-and-still-ab-inbev-wants-more-deals 1 Quote Share this post Link to post Share on other sites
Old-Ruffneck + 1,177 er July 25, 2019 2 hours ago, cbrasher1 said: can oil drill its way out of debt? we seem to forget there are other business models that are buried in debt as well...below is such an example, what say you all on this?? https://www.bloomberg.com/opinion/articles/2019-05-07/-100-billion-of-debt-and-still-ab-inbev-wants-more-deals Since I live here in Kitty-Cat country, the layoffs started 2 plus months ago of some management and some hourly workers. The buildings that were abandoned are now abuzz with 12 to 14 dollar and hour assemblers. Seems Cat really figured out how to get around the Union by hiring ex-Ceo's outsource companies!! But Cat itself in overseas markets are doing well. So... Quote Share this post Link to post Share on other sites
cbrasher1 + 272 CB July 29, 2019 (edited) shale is not going anywhere, with advances in technology, as has been pointed out on this forum, along with lower breakeven, companies who desire to survive and thrive will have to adjust to the "learning curve" of spending discipline. Can it be done? sure, like anything else....a couple of articles worth a read backing up my assessments.. technology helps... https://www.worldoil.com/news/2019/7/22/new-shale-technology-detects-completion-problems-parentchild-well-interference some are learning.... https://www.worldoil.com/news/2019/7/24/eia-us-oil-producers-increase-shareholder-distributions drilling further out https://www.cbs7.com/content/news/Historic-horizontal-well-in-Permian-Basin-completed-513146431.html Edited July 29, 2019 by cbrasher1 Quote Share this post Link to post Share on other sites
Sebastian Meana + 278 July 30, 2019 On 7/12/2019 at 4:52 PM, James Regan said: Can US shale go on without any controlling group with a responsible agenda? The whole point 10 or 15 years ago was to make the US into an oil&gas independent nation, done. It wasn't supposed to make the US into an oil exporting nation competing directly against Saudi Arabia or Russia. The EIA oil estimates for the US tight oil basins were around 625 billion barrels, With the 15 million barrels per day production is enough to last 114 years... so... that's it. Hopefully after those 100 years a more intelligent generation will likely crack the economical production of actual Oil Shale through Kerogen pyrolysis If the us refineries can retrofit to use the light sweet crude instead of the heavy crude, the most likely thing to happen is that the US will freeze exports again, and the us oil consumption has been pretty much stagnant since the last 15 or 20 years, around 19-20 million barrels a day. I wouldn't bet that is going to grow that much in the future whatever the price is 45$ or 75$ Quote Share this post Link to post Share on other sites
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