NEWS  STUFF      

Shale Oil Passed Its Peak Without Making Money
thIOHFQ6Q5.jpg
Russia Supports Deeper OPEC+
                            Output Cuts
oilprice-logo.png
Energy Capital Pauses Pipeline Deals on Widening Shale Despair
bloomberg_edited.jpg
Investors Tightening the Screws on Oil, Gas Acquisitions
Rigzone.png

RECENT POST STUFF

Cartoon Of the Week

February 23, 2020

Friday Night Lights

February 20, 2020

1/15
Please reload

CHART  STUFF

shaleprofile.com

 
Folks struggle with the concept that nothing in the oil business lasts forever, including shale oil.  That's likely  because of the abundance "hype" we hear from our own government, the number of drillable locations  that shale oil companies lie about all the time in their IP's and technically recoverable resource estimates made by outfits like the USGS and Rystad.
EOG is the irrefutable world's  heavyweight champion of shale oil development, and its home is the Eagle Ford shale play of S. Texas, particularly Gonzales County. The map on the left shows not  very many EF shale oil wells  were drilled
in Gonzales County in 2019 by EOG, because it is  likely running out of damn room,  and those wells that were drilled were lagging far
behind in terms of previous years' productivity, likely because of over drilling.
The shale oil industry is drilling itself out of business at an alarming rate and in the process driving the price of oil down. Even mighty EOG will be out of its locations soon and when they move away from their sweet spots, productivity will decline even more.
Then what? To hell with EOG; then what for America?  
 

   QUOTE  STUFF

"The report warns that global production growth may therefore soon stall due to the dodgy debt-driven economics of the US shale industry. While Saudi Arabia will no longer be able to ramp up production much, the US shale oil sector could be on the brink of unravelling due to massive unrepayable debts, declining production rates, and poor well quality. "
Government Agency Warns Global Oil Industry Is on the Brink of a Meltdown, click to view

POSTS

David Thompson; Louisiana Land and Exploration, Big Horn 3-36, Lysite, Wyoming, 1992. On the trip up to the snubbing basket.

https://www.ogj.com/articles/print/volume-90/issue-20/in-this-issue/drilling/snubbing-operations-scheduled-at-controlled-wyoming-blowout.html

Boots & Coots, Inc.; 1995. Amoco, Peters Estate #6, Muy Grande Field, Duval County, Texas.

The blowout occurred when rams did not close properly around a tool joint and the Hydrill failed. The kelly was cut at the top of the kelly bushing by "sawing" it in two with a sw...

Please reload

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."

 Reading Stuff
Follow "Oily Stuff" 
  • Twitter Social Icon
  • Vimeo Social Icon
  • LinkedIn Social Icon
  • Facebook Basic Black
Good Stuff You Might  Have Missed
The Perfect Oilfield
Shale Oil As a US Foreign Policy Tool
    NIGHT SHIFT        the video 

  "Mike Shellman at Oily Stuff pens

the  best blog on the oil business."  

                   https://www.berlinroyalties.com/

     Header Photography by

            Robert Flaherty