NEWS  STUFF      

U.S. Oil and Gas Producers To Slash Spending For Second Straight Year
In 2020
Slow But Steady Recovery of Conventional Exploration Drilling
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Led By the Permian, US Flaring and Associated Gas Production
Hit New Highs
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The Real Winner Of The OPEC + Pact
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RECENT POST STUFF

Cartoon Of the Week

November 17, 2019

Medusa Update

November 14, 2019

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CHART  STUFF

The Future of American Shale According To the EIA
"Although there is no doubt that the U.S. can produce substantial amounts of shale gas and tight oil over the short- and medium-term, unrealistic long-term forecasts are a disservice to planning a viable long-term energy strategy. The best-case scenario to meet the EIA AEO2019 reference case forecast requires drilling 1,451,771 wells at a cost of $9.5 trillion over the 2017-2050 period."     David Hughes; Post Carbon Institute

Try and remember, please, the US upstream shale oil  industry, public and private,  has drilled 85,000 wells over the past decade and is still over $300 billion in long term debt. In other words, it hasn't even paid for what it's already drilled...yet.

 For the EIA's estimates to be accurate it will have to drill 525,832 MORE  shale oil wells

costing $4.45 trillion dollars and most of that, by the very nature of shale oil decline and low return on investment, will also

have be borrowed or raised, a second time, thru dumb private investment.  

POSTS

November 17, 2019

America's hydrocarbon policies are here today, gone tomorrow and have nothing to do whatsoever with the long term future.

November 14, 2019

Surge Energy dug the Medusa C 28-09 #3H well earlier this year in Borden County, a Wolfcamp well, to a  record setting TMD of 24,592 feet. The lateral  is over 3 miles long and cost about the same amount of money it would take to send 341 kids to Texas Tech for a year....

November 13, 2019

This is a beautiful photograph of yet another blowout in Santa Fe Springs, California, this one by Union Oil in 1949, just down the road from Getty's neighborhood, seen here on Oily Stuff. Twenty five years after the initial discovery in Santa Fe Springs these guys cou...

November 10, 2019

This is a good story about a fine young man and his American dream. I am proud to have had a tiny little something to do with it.

November 4, 2019

Reporting Permian shale oil production increases, declines, breakevens and operating costs in BOE is a bunch of bunk.

October 31, 2019

The stuff you probably DON'T know about crude oil.

October 28, 2019

I got bumped to first class one time flying  from San Antonio to Phoenix to play in a tennis tournament and sat  next to Charles Barkley. Man, that guy was a hoot. He also had the biggest damn feet I ever saw, "size 16's," he said; giant Nikes, with his name on the sid...

October 23, 2019

Dave Wilson was a wellhead hand for ABB Vetco Grey in Houston; he did three tours in Kuwait in 1991 and took some great photographs.  Many of these photographs I showed around the country as part of an exhibit titled, Fire and Smoke: The Kuwait Oil Well Fires  and subs...

October 21, 2019

North Dakota or West Texas?

October 19, 2019

An interesting job this was, one side of a dual completion gas well in the Bolivian jungle, 1996. You can read a little more about it, here.

I could tell you how I got this but then I'd probably have to kill 'ya to protect the source. Its dated 1977 and is actually very good, pretty much along the lines of what I have always been taught with regards to well economics and when, and how, to pull the trigger o...

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