Shale Giants Swear They Won't Drill More, Even At $200 Barrel

[surada]

Hardly 60 years. And they got nowhere near the output American frackers did.

"Aramco began using horizontal drilling in the Berri field in 1991, and Shaybah, developed in the mid-1990s, was the Kingdom’s first oil field to use horizontal and multilateral wells exclusively."

Aramco Hydrocarbon Journey Drilling

Lolol. Why do you think ghawar is still producing after 70 years or manifa?

 

[surada]

Ever work in the patch? What do you know about what they pay now?

He's off on a tangent. The discussion was not about oil worker's wages. The US has the highest production costs in the world.

 

[JGalt]

Lolol. Why do you think ghawar is still producing after 70 years or manifa?

Those fields are conventional reservoir, not Permian, which is an unconventional shale formation. The only reason the Saudis are interested in fracking is because the Saudi's Ghawar oil field is running out. In 2019, the Saudi Aramco oil company published financial figures that showed Ghawar’s production had declined by 24% in six years.

 

[surada]

Those fields are conventional reservoir, not Permian, which is an unconventional shale formation. The only reason the Saudis are interested in fracking is because the Saudi's Ghawar oil field is running out. In 2019, the Saudi Aramco oil company published financial figures that showed Ghawar’s production had declined by 24% in six years.

I was in the first grade when ghawar began producing in large amounts. It's been very successful.

 

[Wild Bill Kelsoe]

The Texas wildcatters that ushered in America’s shale revolution are resisting the temptation to pump more oil as the market rallies, signaling higher gasoline prices for consumers already battered by the worst inflation in a generation.

Crude prices hurtling toward $100 a barrel typically would spark a frenzy of new drilling by independent explorers in shale fields from the desert Southwest to the Upper Great Plains -- but not this year. Influential players like Pioneer Natural Resources Co., Devon Energy Corp. and Harold Hamm’s Continental Resources Inc. just pledged to limit 2022 production increases to no more than 5%, a fraction of the 20% or higher annual growth rates meted out in the pre-pandemic era.

Shale giants swear they won't drill more, even at $200 a barrel

The timing couldn’t be worse for consumers, but the message from shale country is loud and clear: the independents won’t repeat the mistakes of the past by flooding the world with cheap oil.

worldoil.com

So much for the inflation excuse.

This whole freedom craze is really pissing you people off...lol

 

[Wild Bill Kelsoe]

US oil production doubled during the Obama presidency.

On private land, it doubled. And Obama tried to shut that down, too.

 

[Wild Bill Kelsoe]

What? The US government has nothing to do with oil production. Fracking has been used routinely for 60 years in the Middle East. Most US wells are too small to invest in fracking. Aramco has been horizontal drilling since I was in grade school.

The government has something to do with oil production on public land.

 

[surada]

The government has something to do with oil production on public land.

Yeah. More stringent rules and regs.

 

[surada]

On private land, it doubled. And Obama tried to shut that down, too.

He didn't try to shut it down. It was driven by high prices.

 

[Wild Bill Kelsoe]

Yeah. More stringent rules and regs.

Thanks for admitting you lied and the regulations are the same on private land as they are on public land.

 

[surada]

Thanks for admitting you lied and the regulations are the same on private land as they are on public land.

No they aren't. Given a choice they prefer private land because of red tape. Tell me about your experience in the oil business. Do you know the difference between shale oil and conventional oil wells?

 

[Wild Bill Kelsoe]

He didn't try to shut it down. It was driven by high prices.

He did try to shut it down.

A Lizard Causes Oil and Gas Industry Drama

The sand dune lizard, located in parts of West Texas and New Mexico, could potentially be interfering with the drilling of oil and gas.

www.texastribune.org

 

[surada]

B

He did try to shut it down.

A Lizard Causes Oil and Gas Industry Drama

The sand dune lizard, located in parts of West Texas and New Mexico, could potentially be interfering with the drilling of oil and gas.

www.texastribune.org

A lizard? Big deal.

 

[JGalt]

He didn't try to shut it down. It was driven by high prices.

Obama prohibited fracking on public lands. It took a federal judge to overrule him.

Obama Fracking Rule Is Struck Down by Court (Published 2016)

Then Obama took them to court to try to uphold his fracking ban on public lands.

Obama Adminstration Ramps Up Legal Fight Against Fracking

Permits for federal onshore extraction during the Obama administration also declined. For all the talk of Russian meddling in U.S. affairs, there’s clear evidence the Kremlin funded the anti-fracking movement..

The Great Recession recovery wasn't powered by Obama. It was oil and gas

 

[surada]

Obama prohibited fracking on public lands. It took a federal judge to overrule him.

Obama Fracking Rule Is Struck Down by Court (Published 2016)

Then Obama took them to court to try to uphold his fracking ban on public lands.

Obama Adminstration Ramps Up Legal Fight Against Fracking

Permits for federal onshore extraction during the Obama administration also declined. For all the talk of Russian meddling in U.S. affairs, there’s clear evidence the Kremlin funded the anti-fracking movement..

The Great Recession recovery wasn't powered by Obama. It was oil and gas

The US didn't do it well at first.

 

[Wild Bill Kelsoe]

No they aren't. Given a choice they prefer private land because of red tape. Tell me about your experience in the oil business. Do you know the difference between shale oil and conventional oil wells?

EPA regulations apply to private land just like public land.

There is no difference. They're all drilled the same and before you say "frac", most wells are graced to some extent. The biggest difference with shale formations is that it's fraced differently and much more aggressively because it's nothing but rock.. Wells drilled in non-shale zones are typically perforated to allow the oil to flow into the casing. The only time you wouldn't perforate a well is if it's drilled into sand where the oil can flow more freely, in which case the casing will be fitted with a sand screen to keep from filling the casing bore with sand. So, the only significant difference is the manner in which the oil is collected.

My experience? I know the difference between a monkey board and a cat walk and I know how to find the keys to the v-door.

Tell us about your rough neckin' experience.

 

[JGalt]

The US didn't do it well at first.

What the hell are you talking about? The US invented fracking.

Shooters - A "Fracking" History - American Oil & Gas Historical Society.

The light bulb and the internet didn't work well when we first invented them, but we eventually made them work better.

 

[Wild Bill Kelsoe]

B
A lizard? Big deal.

He still tried to use it as pretext to shut down drilling.

 

[surada]

He still tried to use it as pretext to shut down drilling.

You mean the environmentalists . Obama didn't know about west Texas lizards.

 

[Orangecat]

The president has no control over the oil producers.

The regulatory state does, and the POTUS is the head of it. Think better.