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g8trgr8t

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  • Russia And Saudi Arabia - A Tale Of 2 Petro-States Facing Low Oil Prices [View article]
    and PEMEX just lost $5.2B while Venezuela and Nigeria are falling apart while Canadian oil sands are cutting workforce substantially. Deepwater Brazil is stalling and the heralded Mexican oil deepwater lease auction was a bust. Shale is not the only one being hurt here by low prices and the social programs established by many countries cannot be supported indefinitely at low prices.

    Read Core labs CEO comments on sustainability of Russian and SA pumping rates.

    Shale may be down but it is a long way from being out and as the completion designs continue to improve, infrastructure gets built, and EOR is refined the cost of production and delivery will continue to drop for shale.
    Jul 29, 2015. 11:36 AM | Likes Like |Link to Comment
  • Russia And Saudi Arabia - A Tale Of 2 Petro-States Facing Low Oil Prices [View article]
    Perhaps the Saudi's went short oil and placed bets against the bonds supporting shale development. They may lose millions on their sales but make more on their shorts or in their investments in shale oil companies at depressed prices.

    imho, Canadian oil sands and deepwater cost of production will be higher than shale when this settles out. In the meantime I found this of great interest and anybody playing the game might want to take it under consideration

    David Demshur, CEO of Core Labs is pretty smart guy. From his Q & A, 2nd quarter CC

    Phillip Lindsay - HSBC
    I have a couple of macro questions, please. The Russia and the Middle Eastern production increases that you suggest are unsustainable. I can probably understand why you might think that about Russia. But, perhaps it's more surprising to hear that about the Middle East. Perhaps you could elaborate on that. And then, secondly, just interested in how you see the U.S., versus the international mix, evolving. This V-shape recovery you talked of. Thanks

    David Demshur - Chairman, President & CEO
    Yes, Phil. If we look at just production levels in the Middle East, you have all countries producing at, what we would think, would be maximum amounts of the amount that they can prove, very little spare capacity there.

    These are carbonate reservoirs. One of the dangers of producing maximum amounts, from carbonate reservoirs, is you start drawing larger amounts of water. And we would think, at the levels at which we see production throughout the Middle East, that they would be in danger if they continue with those levels, for producing larger amounts of water.

    And, one of the things about producing water from carbonate reservoirs, once you start producing larger amounts of water, you always produce larger amounts of water, even at reduced production levels. We know these guys are pretty sharp there and that, the statement of we do not believe that those are sustainable, are tied to water production levels.

    meanwhile Kuwait just fired a verbal shot at SA for shutting down their border fields saying that SA is going to have to pay Kuwait for that lost revenue. All is not happy in OPEC land where SA wealthy are also feeling the pinch of low oil prices or in Russia where the oligarchs are watching their balance sheets crumble.
    Jul 29, 2015. 10:52 AM | 1 Like Like |Link to Comment
  • Bonanza Creek Energy's (BCEI) CEO Rich Carty on Q2 2015 Results -- Earnings Call Transcript [View article]
    very strong well results, collecting and gathering infrastructure coming together to relieve pressures which increases output, large contiguous tract with multiple pay layers. company seems like it could be subject to takeover at these low prices which I do not like. give these guys time to execute and get back to $65 oil and they will be turning a profit

    OT - read core labs cc and the CEO comments on ability of carbonate structures in Russia and SA to sustain these pumping rates without harming their formations. page 7 of SA post with the 2nd quarter cc minutes.
    Jul 29, 2015. 10:12 AM | Likes Like |Link to Comment
  • Oil: Prices Will Rebound [View article]
    especially if they have to fight a war in Yemen. Wars are expensive
    Jul 27, 2015. 02:56 PM | 2 Likes Like |Link to Comment
  • Oil: Prices Will Rebound [View article]
    "patient" money at 50% - 80% discounts would be my guess. assemble enough to create a position and wait. even marginal areas will be good as the completion techniques improve and oil recovers anywhere close to $75 - $80.
    Jul 27, 2015. 02:50 PM | 1 Like Like |Link to Comment
  • North Dakota oil well completions slow to a crawl [View news story]
    what do you consider huge. ND releases daily reports but I see nothing over 3500 bopd and Statoil always lets them go with no choke for their ips
    Jul 24, 2015. 04:28 PM | Likes Like |Link to Comment
  • Will The Oil Patch Bust Trigger Recession? [View article]
    control the debt, control the country; without ever having to form an army or fire a shot. no occupation forces needed.
    Jul 23, 2015. 11:23 AM | Likes Like |Link to Comment
  • Bakken Update: Continental Resources Completes Mega-Frac [View article]
    am I correct that it is possible to use a slickwater mix for the first few stages of a long bore and then switch over to a more conventional fluid mix as you move away from the tail and friction loss through orifices (or just pipe friction losses) becomes less of a challenge?
    Jul 23, 2015. 09:45 AM | 1 Like Like |Link to Comment
  • Bakken Update: Continental Resources Completes Mega-Frac [View article]
    Any numbers on how much capacity to ship from rail is coming online in the NW to help cut rail costs to S. California?
    Jul 16, 2015. 05:22 PM | 1 Like Like |Link to Comment
  • Bakken Update: Continental Resources Completes Mega-Frac [View article]
    Do you believe that the increased proppant per well will be able offset the reduced number of wells being drilled wrt sand demand?
    Jul 15, 2015. 08:33 PM | 1 Like Like |Link to Comment
  • Bakken Update: Continental Resources Completes Mega-Frac [View article]
    all good stuff. picked this out for future discussion. I know we have bounced it around before and it's always about the geology but this evolution is coming. just curious, has anybody tried pressurizing well A with the nat gas from well B?

    Production from individual wells is important, but a substantial increase in production from adjacent wells is a game changer.

    interested in your thoughts on the possibility of using this as an alternative to pressurized EOR or as a straight up substitute for fraccing the long horizontals. tech just keeps evolving.

    Yet just months after a successful vote to ban fracking in Denton, Russian billionaire Roman Abramovich has invested $15 million in Houston-based Propell Technologies Group, Inc. (OTC:PROP) and its new fracking technology from wholly owned subsidiary Novas Energy. Significantly, this new enhanced oil recovery (EOR) technology enables ‘clean’ hydraulic micro/nano fracturing of oil reservoirs—that is, without water, without polluting chemicals and without earthquakes.

    According to Propell, the Plasma Pulse patented downhole tool creates a controlled plasma arc within a vertical well, generating a tremendous amount of heat for a fraction of a second. The subsequent high-speed hydraulic impulse wave emitted is strong enough to remove any clogged sedimentation from the perforation zone without damaging steel. The series of impulse waves/vibrations also penetrate deep into the reservoir causing nano fractures in the matrix which increase reservoir permeability for up to a year per treatment
    Jul 15, 2015. 05:10 PM | 2 Likes Like |Link to Comment
  • Bakken Update: Whiting's Extensive Refrac Inventory May Provide Significant Upside [View article]
    The best I can tell after reading through various articles is that phase 3 of their plan to get them to their 90 day supply wasn't originally scheduled until 2020 but it is suspected that it is now going to start filling late 15.

    As their demand increases, the SPR will also grow ad the 90 day demand will be growing.


    Bernstein said that given current mounting geopolitical risks, it is fair to assume China wants to secure 90 days of import cover through to 2020, although this will require a fourth phase of SPR to be built before then.

    "China will need 571 million barrels of storage by 2015 and 714 million barrels of oil in storage by 2020 to cover 90 days of import, which requires aggressive infrastructure build-out post 2016," Bernstein said.
    Jun 16, 2015. 10:03 AM | Likes Like |Link to Comment
  • Bakken Update: Whiting's Extensive Refrac Inventory May Provide Significant Upside [View article]
    NEA announced last year that China was building another 208 million barrels of storage to get them to the 90 day storage encouraged by NEA. expected to come on line end of 2015
    Jun 15, 2015. 11:50 AM | Likes Like |Link to Comment
  • Bakken Update: Whiting's Extensive Refrac Inventory May Provide Significant Upside [View article]
    Lot of chinese refiners were down for maintenance
    Jun 11, 2015. 12:32 PM | Likes Like |Link to Comment
  • Oasis Petroleum: Success Of High-Intensity Completions Drives Cash Flow Neutrality At Lower Oil Prices [View article]
    I believe that Chevron has recycled their water to farmers to blend with fresh water in California for 20 years but it is all about the chemistry...I think there are others that do it in Cali too but not sure
    May 26, 2015. 10:56 AM | 2 Likes Like |Link to Comment
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