NEWS  STUFF      

U.S. Shale Recovery Leans On Huge Inventory Of DUCs
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Frac Ban in the Permian​
If It Happens New Mexico's Share
Of the Deleware Basin Gets Hurt the Worse
 
Oil Anchored with Stockpiles Forecasted to Grow
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US Shale Oil and Gas Investors Are On a 'Road To Ruin'
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RECENT POST STUFF

Joints

September 17, 2020

West Texas Boy

September 14, 2020

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CHART  STUFF

Here is a good example of some of the absolute shit folks have to deal with from the US shale oil industry. If you are looking 
at PDP packages to buy (I'm sure as hell not!)... buyer beware.
If economics don't look too bueno on marginal producing wells the seller can fix all that just by skewing LOE data.
Change re-occuring expenses to non re-occuring, drop compressor rentals out of expenses,  leave out ALL down-hole maintenace costs over the acconting period, exclude JOA COPA expenses, don't mention PA&D expenses in the sales brochure and BINGO !  LOES are automatically 30% less than what they really are.
That jacks up remaining recoverable reserves and inflates the snot out of PV10 values. 
This chart is an evaluation of a recent PDP sale in the Permian Basin, courtesy Laura Freeman, who also says this: "I continue to be a bit shocked at how many cash flow negative assets people are trying to sell right now." 

   QUOTE  STUFF

"...the past decade’s shale miracle did wonders for drivers, oil executives and “energy dominance” fantasies, but not for investors. It isn’t a coincidence the hit to Exxon’s credibility is rooted in the same thing that turned investors off the sector in general: an expensive pivot to shale." 

Liam Denning, Bloomberg

VIDEO  STUFF 

We're proud to be an American stripper well

operator and still going 

strong after 50 years. We

try and keep our stuff looking like

we're proud.

Southwest Muldoon Field represents

less than half our operations and its made 6.5MM BO in 60 years. It is profitable

as hell at $40 WTI.   

One man's trash is another man's 

treasure. 

Hug a stripper well operator tomorrow! 

POSTS

August 23, 2020

God, when I first saw this I thought it was me on the makeup tongs. That's about the time I started on a rig floor and it was not long after that I was throwing a spinning chain.

But I died laughing when I read the caption.  If my dad told me to get him a 5/8ths open e...

August 16, 2020

...

December 8, 2019

Its cool if you don't like OPEC. Me neither. But let's quit the bullshit about the 2014 oil price crash.

February 19, 2019

No, not that kind of strippin,' this kind of strippin...' 

In rod lift, down hole pumps often get stuck in the tubing. That can happen for a number of reasons but most of the time it is because formation solids, like sand, or paraffin, or frac sand, can not be lifted co...

August 3, 2018

I live and work in the old oilfield, an oilfield that involves spinning chains, oily blue jeans and t-shirts, aluminum hard hats and dirt mud pits. A place where if the tong band  breaks during a tubing trip you  man-up and finish the job with 24's. I've seen cool-down...

March 30, 2018

If this is where you commute to work twice a month...

...I'd say it's probably better to fly, than drive:

January 17, 2018

No hand, damnit; not THAT one, its the OTHER one over THERE!

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"The blog is one of the best for me personally; Mike is the Huckleberry Finn of the drilling industry."  James Regan

Who's Stuff Is This?

" I was born and

raised, literally,

in the oilfields of

South Texas over

68 years ago.

I have pretty

much seen, and

done, it all."

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