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Quote Stuff
“When these companies merge, it’s not necessarily one plus one equals three in terms of development plans. They’re all cutting rigs, they’re cutting track crews,” said Timm Schneider, founder and CEO of Schneider Capital Group. They are effectively controlling supply. “On the margin, that’s constructive for oil prices.”
Lots of cheerleading going on right now about how Tier 1 and Tier 2 level, secondary benches will save the day and provide
years more drilling oportunities, like the Wolfcam C&D, Dean and Jo-Mill in the Midland Basin and Wolfcamp C&D in the
Delaware Basin. Nobody offers up proof, of course, these secondary benches will be anymore economic than the primary
benches, which are suffering tight now because ot natgas prices. Remember, after 10 years and nearly 75,000 HZ wells in the
Permian Basin these guys aren't stupid; they've drilled their best stuff, first.
Stuff To Think About
Video Stuff
There is likely close to 300,000 unconventional HZ oil and gas wells in this map of Middle America, all drilled since 2002 (gas) and 2009 (oil) and these wells and the infrastructure to gather oil and gas from those wells have probably cost something in the order of $ 3.0 trillion, USD.
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There are internet exports all over America saying we can do this again over the NEXT 25 years.
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Where is the money going to come from, where will the water come from to frac them, where will they dispose the produced water when it comes out of the ground and just where in the holy hell are you going to PUT the damn things? The US shale oil and gas hotel is full up.
HZ laterals already look like a big 'ol bowl of noodles down there in those bright orange spots; they interfere with each other, water cuts are going up and EUR's down.
Wake up, America. Exports need to stop, now, and conservation needs to start!
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