Jun 20, 2022
In Forum Stuff
It might be worth noting that of the 49 Texas and New Mexico counties included in the definition of the "Permian Basin," (and the USGS whooptie-do technically recoverable oil resource estimates), nearly 75% of all Permian Basin tight oil production comes from just eight (8) of those 49 counties. Those 8 counties still have the highest rig counts. High grading the shit out of Permian core areas, (sweet spots) is still underway and nobody has left the building yet for Tier 3, 4 and 5 environments. 30% of all the rigs running in the big, wide Permian Basin are running in just two (2) counties of New Mexico (Lea and Eddy Counties) and those rigs are drilling on Federal BLM leases with low royalty burdens and very tough drilling commitments. When they drill that shit up in the core areas of those two counties in New Mexico, hold on to your knickers.
Jun 18, 2022
In Forum Stuff
From the Forum comment next door about excuses..... "When Wolfcamp benches in the Permian are shriveled up like raisins in a few years and we're back on our knees begging OPEC and Russia to sell us their expensive oil, we're ALL going to wish we had been less greedy, less wasteful and that we had elected politicians and regulators that had the courage to overlook money, and votes, and put our nation's long term energy security, first." Folks need to read this, above. Entirely on what appears to be the false premise that 1.) we have more shale oil left in America than we can EVER consume, or b.) we are within a few years of a complete transition to renewable energy as a transportation fuel and won't EVER need oil again, the US is burning its bridges with other world oil producers. The eastern hemisphere, including the ME, Russia, China and India are solidifying their oil future, together. What is America doing to ensure a long term, stable supply of oil... you know, just in case the transition timeline doesn't work out? Its depleting the last of its oil resources, one Wolfcamp well at a time, as fast as it can, and exporting it away. Of the 5.2 MM BOPD the Permian HZ produces , we only keep 1.4 MM of it here in the US, for American consumers. By the end of 2022 our oil savings account, the SPR, will be drained. In the face of these sorts of threats from Russia, above, in the middle of a war in Europe, with full knowledge of the KSA’s contempt for Biden and OPEC's new, long term commitments to China, America keeps exporting the very last of its sovereign resource wealth away to foreign countries. Its beyond stupid. US oil and natural gas exports are now a very real threat to our nation's economy, the well being of our citizenship and to our country's long term energy security. Exports of US crude oil must stop. If it puts 1/2 of the West Texas oil business out of business, I am sorry, but it MUST be done or our nation will have nothing left in five years. The rest of the world, like Russia and OPEC, will then own us.