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I think this is the beginnings of an economy based on perpetual growth and fossil fuel energy running headlong into geological energy constraints. Basically I see an undulatory downward path for the rest of my life. From here out, I think any rallies in our economic condition are going to be met with spiking commodity prices that knock us right back down.

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  Topic: CNN: Why The Oil Boom Will Eventually Bust
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Replies: 79
Views: 3411

PostForum: Current Events   Posted: Fri Jun 06, 2008 10:00 am   Subject: Re: CNN: Why The Oil Boom Will Eventually Bust
There are certainly some confused and/or incorrect statements in that article. However, the headline may very well be correct regardless of the reasoning.

One of the things that anybody over 30 ye ...
  Topic: Bakken (U.S.) formation oil discovery - 4 billion barrels
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Replies: 855
Views: 45115

PostForum: Current Events   Posted: Tue Apr 29, 2008 9:25 pm   Subject: Re: Bakken (U.S.) formation oil discovery - 4 billion barrel
Bakken is a big pile of schist

Ack. It is primarily shale with dolomite. A schist is a metamorphic rock. It is possible that I missed the humor and this was a reference to the ceramic comment made ...
  Topic: Bakken (U.S.) formation oil discovery - 4 billion barrels
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Replies: 855
Views: 45115

PostForum: Current Events   Posted: Mon Apr 28, 2008 12:15 pm   Subject: Re: Bakken (U.S.) formation oil discovery - 4 billion barrel
Excellent update!

I'm looking for a couple of rigs for my area. Since there are likely a bunch of unused/unloved ones up in ND and MT, could you please check on availability? I also have a phantom ...
  Topic: Bakken (U.S.) formation oil discovery - 4 billion barrels
FaceDown

Replies: 855
Views: 45115

PostForum: Current Events   Posted: Fri Apr 11, 2008 9:02 am   Subject: Re: Bakken (U.S.) formation oil discovery - 4 billion barrel
KTH - I was referring to the USGS use of the word...not yours. I wasn't clear in my post.
  Topic: Bakken (U.S.) formation oil discovery - 4 billion barrels
FaceDown

Replies: 855
Views: 45115

PostForum: Current Events   Posted: Thu Apr 10, 2008 10:39 pm   Subject: Re: Bakken (U.S.) formation oil discovery - 4 billion barrel
"You keep using this word 'continuous'. I do not think that word means what you think it means." [url=http://www.youtube.com/watch?v=G2y8Sx4B2Sk]Inconceivable

Clearly my definition of a continuous ...
  Topic: Bakken (U.S.) formation oil discovery - 4 billion barrels
FaceDown

Replies: 855
Views: 45115

PostForum: Current Events   Posted: Mon Apr 07, 2008 11:24 pm   Subject: Re: Bakken (U.S.) formation oil discovery - 200 billion barr
Thus far, the big wells have produced from a specific portion of the bakken (being intentionally vague here). That portion of the Bakken is certainly not uniform across the entire region.

I guess ...
  Topic: Bakken (U.S.) formation oil discovery - 4 billion barrels
FaceDown

Replies: 855
Views: 45115

PostForum: Current Events   Posted: Mon Apr 07, 2008 10:00 pm   Subject: Re: Bakken (U.S.) formation oil discovery - 200 billion barr
I haven't read all of the reports that are being discussed here so what I am going to type might be redundant.

To me, some of the most interesting experiments were the ones designed to "fingerprin ...
  Topic: Bakken (U.S.) formation oil discovery - 4 billion barrels
FaceDown

Replies: 855
Views: 45115

PostForum: Current Events   Posted: Mon Apr 07, 2008 9:48 pm   Subject: Re: Bakken (U.S.) formation oil discovery - 200 billion barr
I agree that we still have to wait and see as to whether or not the amount of oil that Leigh and others thought/think is there really is there. I feel comfortable saying right now that this is not one ...
  Topic: Bakken (U.S.) formation oil discovery - 4 billion barrels
FaceDown

Replies: 855
Views: 45115

PostForum: Current Events   Posted: Mon Apr 07, 2008 5:31 pm   Subject: Re: Bakken (U.S.) formation oil discovery - 200 billion barr
Price isn't the author I want to question, he didn't do an assessment of the Bakken, just used a couple of samples to create some wildly interesting numbers for 30,000 mi^2 of rock.

At the risk of ...
  Topic: Gas find may spur drilling in Quebec
FaceDown

Replies: 33
Views: 3359

PostForum: Current Events   Posted: Thu Apr 03, 2008 5:16 pm   Subject: Re: Gas find may spur drilling in Quebec
Let's put it this way, I fart more gas than they'll find in the Utica.

Yes...the Utica is a terrible source rock and reservoir. You should stay far, far away from it at all costs. There will NEVER ...
  Topic: Bakken (U.S.) formation oil discovery - 4 billion barrels
FaceDown

Replies: 855
Views: 45115

PostForum: Current Events   Posted: Wed Mar 19, 2008 11:51 am   Subject: Re: Bakken (U.S.) formation oil discovery - 200 billion barr
It is going to be interesting to watch how this plays out. The productive area has the potential to be quite large. The poor wells seem to IP around 300 bbl/day. The best well I've heard of, to date, ...
  Topic: Bakken (U.S.) formation oil discovery - 4 billion barrels
FaceDown

Replies: 855
Views: 45115

PostForum: Current Events   Posted: Mon Jan 07, 2008 6:24 pm   Subject: Re: Finally, the Bakken makes the national media (NY Times)
I was talking before about how these recent Bakken wells cost between $3-$5 million each to drill and complete. The wells drilled within the Parshall field proper (18 wells) make approximately 1000 bb ...
  Topic: Bakken (U.S.) formation oil discovery - 4 billion barrels
FaceDown

Replies: 855
Views: 45115

PostForum: Current Events   Posted: Fri Jan 04, 2008 10:53 am   Subject: Re: Finally, the Bakken makes the national media (NY Times)
Right now, nobody knows how large the Bakken play will be. It might be a very small drop in the bucket. The individual wells that are being drilled and completed right now are most certainly EROI posi ...
  Topic: Bakken (U.S.) formation oil discovery - 4 billion barrels
FaceDown

Replies: 855
Views: 45115

PostForum: Current Events   Posted: Thu Jan 03, 2008 4:40 pm   Subject: Re: Finally, the Bakken makes the national media (NY Times)
(Texas average is 15 barrels not 1)

I don't like to nitpick, but a stripper well is one that produces less than 10 bbl/d. I think the average is 2.5 bbl/d for all stripper wells in the USA. I don't ...
  Topic: Bakken (U.S.) formation oil discovery - 4 billion barrels
FaceDown

Replies: 855
Views: 45115

PostForum: Current Events   Posted: Thu Jan 03, 2008 2:18 pm   Subject: Re: Finally, the Bakken makes the national media (NY Times)
Dead stripper wells in Texas produce that much.

Both you guys claim to be in the oil business, yet your ignorance says volumes about the deep dark hole we have dug ourselves into.

Stripper wells ...
 
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