OIL_OIL_OIL anyone

[Wyoming T/A]

just got this--might be a repost but i lust got it today

The U. S. Geological Service issued a report in April ('08) that only scientists and oil men knew was coming, but man was it big. It was a revised report (hadn't been updated since '95) on how much oil was in this area of the western 2/3 of North Dakota; western South Dakota; and extreme eastern Montana ....... check THIS out:

1. The Bakken is the largest domestic oil discovery since Alaska 's Prudhoe Bay , and has the potential to eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates it at 503 billion barrels. Even if just 10% of the oil is recoverable, at $107 a barrel, we're looking at a resource base worth more than $5.3 trillion.

'When I first briefed legislators on this, you could practically see their jaws hit the floor. They had no idea.' says Terry Johnson, the Montana Legislature's financial analyst.

'This sizable find is now the highest-producing onshore oil field found in the past 56 years.' reports The Pittsburgh Post Gazette. It's a formation known as the Williston Basin , but is more commonly referred to as the 'Bakken.' And it stretches from Northern Montana, through North Dakota and into Canada . For years, U. S.. oil exploration has been considered a dead end. Even the 'Big Oil' companies gave up searching for major oil wells decades ago. However, a recent technological breakthrough has opened up the Bakken's massive reserves... and we now have access of up to 500 billion barrels. And because this is light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL!

That's enough crude to fully fuel the American economy for 41 years straight.

2.. and if THAT didn't throw you on the floor, then this next one should - because it's from TWO YEARS AGO!

U. S. Oil Discovery- Largest Reserve in the World!
Stansberry Report online - 4/20/2006

Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world. It is more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. In three and a half years of high oil prices none has been extracted. With this mother-load of oil why are we still fighting over off-shore drilling?

They reported this stunning news: We have more oil inside our borders, than all the other proven reserves on earth. Here are the official estimates:

- 8-times as much oil as Saudi Arabia
- 18-times as much oil as Iraq
- 21-times as much oil as Kuwait
- 22-times as much oil as Iran
- 500-times as much oil as Yemen
- and it's all right here in the Western United States ...

HOW can this BE? HOW can we NOT BE extracting this? Because the environmentalists and others have blocked all efforts to help America become independent of foreign oil! Again, we are letting a small group of people dictate our lives and our economy....WHY?

James Bartis, lead researcher with the study says we've got more oil in this very compact area than the entire Middle East - more than 2 TRILLION barrels untapped. That's more than all the proven oil reserves of crude oil in the world today, reports The Denver Post.

Don't think 'OPEC' will drop its price - even with this find? Think again! It's all about the competitive marketplace, it has to. Think OPEC just might be funding the environmentalists?

Got your attention/ire up yet? Hope so! Now, while you're thinking about it ... and hopefully P.O.'d, do this:

3.. Pass this along. If you don't take a little time to do this, then you should stifle yourself the next time you want to complain about gas prices, because by doing NOTHING, you've forfeited your right to complain.
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Now I just wonder what would happen in this country if every one of you sent this to every one in your address book.

By the way...this is all true. Check it out at the link below!!!

GOOGLE it or follow this link. It will blow your mind..

http://www.usgs.gov/newsroom/article.asp?ID=1911

 

[Ollie]

The talking heads all prat on about oil independance, they just don't mean it.
They want to control everything and the best way to do that is to FORCE this country to be dependant on other countries.

We can't do that because "X" country will shut off our oil.

What a joke.

 

[Dogmeat]

The talking heads all prat on about oil independance, they just don't mean it.
They want to control everything and the best way to do that is to FORCE this country to be dependant on other countries.

We can't do that because "X" country will shut off our oil.

What a joke.

Having cheap energy drives capitalism. They know this. They don't want cheap energy because it drives control out of their socialist hands.

They know damned good and well all this alternative energy crap will never come to frutition they way they are portraying it will. Will it evolve and get better? Yeah, but you still are never going to be able to make a dent in global energy demand with solar cells and wind turbines.

And we all know what happens when somone promotes nuclear power ..... cheap, clean energy that enables people to be less reliant on the government

I dunno, that's my take on it ... socilists hate cheap energy

 

[MotoPsycho]

The company I work for is one of the largest stakeholders in the Bakken field. Last summer, we had upwards of 40 drilling rigs in the area. We are now running less than 5, with each being stacked out upon completion of their current well.

It's all about the cash. We will continue to produce from existing leases, but no further drilling will be done until the price per barrel reaches a "magic" number again.

Basically, that magic number is based on the Company's ability to pay for the drilling of the well within 2 years. A few of the Bakken wells we have drilled are making around 800 barrels a day... flowing. That means it's kinda like ol' Jed Clampett... it runs out of the ground - no pumping required.

The "new" technology they refer to is horizontal drilling. It's not new, but they have made many advances to refine it, and to optimize returns - this also costs waaaaaay more to drill a well...up to 3 times as much as a vertical well. (say 5-15 million dollars per well)

Now, you may say, a well that makes 800 Bbl/day will make $13M in one year (at $45/Bbl)... Why not drill? Well, it's because the next well may only make 100 Bbl/day, earning $1.6M / Yr with the same drilling price of $15M - Yer not gonna pay that off in 2 years; are ya? There are MANY other costs associated as well, including oil quality etc. Sweet crude is at roughly $45/Bbl. right now. The oil my field produces is worth about $19/Bbl. right now... lower quality, lower return, less activity.

It boils down to the fact that it isn't cost effective to drill right now. Maybe if oil hits $60-65/ Bbl., we will see things start rolling again.

I find it odd that the Bakken discovery never rocked the boat at first. Then, when oil prices began to rise last year, and companies like mine began to "blow and go"... showing great returns with lower operating costs, the bottom fell out.

The fact is, it's mostly the middle east that controls the prices (to hell with OPEC - it's all BUNK!). That being said, doesn't it make sense that they would do what they need to to keep the US buying from them, and styme our self sufficiency?

 

[Puff_N_AK]

Sort of like they wont let us go get the ANWR oil. They even invented new drilling techniques to get it. No sideway drilling either. Bunch o Chit if ya ask me. Only way to get off, outside dependance is to become self reliant.

 

[slyrydr]

i posted on this about a year ago, a friend that has a small ranch in eastern montana was telling me about all the oil rigs he could see from his ranch, nearly 150, but nowhere do you ever see anything in the media about it....makes you wonder who is really controlling the media, this country....what's their agenda?.... am i still in the usa?....did i go thru a time warp and not notice?.....does pam andersen still have bodacious ta tas?.....what?.............

 

[DaveB]

Been drilling horizontal wells in the Bakken shale in SE Saskatchewan for years and years.....

 

[hilinerider]

most of the differential in price per barrel is because the pipelines goin out of this area can't handle it and only half of the refineries can process it and they have all they need, so if you sell it to them for nothin they will take it

 

[Puff_N_AK]

Been drilling horizontal wells in the Bakken shale in SE Saskatchewan for years and years.....

Understood, we just have had to adopt it so that we could try and access that oil.

 

[Gimpster]

The company I work for is one of the largest stakeholders in the Bakken field. Last summer, we had upwards of 40 drilling rigs in the area. We are now running less than 5, with each being stacked out upon completion of their current well.

It's all about the cash. We will continue to produce from existing leases, but no further drilling will be done until the price per barrel reaches a "magic" number again.

Basically, that magic number is based on the Company's ability to pay for the drilling of the well within 2 years. A few of the Bakken wells we have drilled are making around 800 barrels a day... flowing. That means it's kinda like ol' Jed Clampett... it runs out of the ground - no pumping required.

The "new" technology they refer to is horizontal drilling. It's not new, but they have made many advances to refine it, and to optimize returns - this also costs waaaaaay more to drill a well...up to 3 times as much as a vertical well. (say 5-15 million dollars per well)

Now, you may say, a well that makes 800 Bbl/day will make $13M in one year (at $45/Bbl)... Why not drill? Well, it's because the next well may only make 100 Bbl/day, earning $1.6M / Yr with the same drilling price of $15M - Yer not gonna pay that off in 2 years; are ya? There are MANY other costs associated as well, including oil quality etc. Sweet crude is at roughly $45/Bbl. right now. The oil my field produces is worth about $19/Bbl. right now... lower quality, lower return, less activity.

It boils down to the fact that it isn't cost effective to drill right now. Maybe if oil hits $60-65/ Bbl., we will see things start rolling again.

I find it odd that the Bakken discovery never rocked the boat at first. Then, when oil prices began to rise last year, and companies like mine began to "blow and go"... showing great returns with lower operating costs, the bottom fell out.

The fact is, it's mostly the middle east that controls the prices (to hell with OPEC - it's all BUNK!). That being said, doesn't it make sense that they would do what they need to to keep the US buying from them, and styme our self sufficiency?

Do you work for Marathon ?
I seen the beginnings of the pool back in 1981. I was surveying back then. Seen a map in an Exxon office once while delivering data. Had a conversation with a guy there when I showed him where our property is he said we were in the middle of a big one. They knew about it back then. Weren't talking too much about it though. Recently when oil prices went sky high, they drilled around on properties I have rights on. In meetings they said that oil wells would be on every quarter. Then the prices dropped and the drilling slowed. Our last well was angle drilled and the casing collapsed. In a way I want to have the price per barrel rise so they continue with the plan of a well on every quarter.

----- Gimpster -----

 

[Nate]

The company I work for is one of the largest stakeholders in the Bakken field. Last summer, we had upwards of 40 drilling rigs in the area. We are now running less than 5, with each being stacked out upon completion of their current well.

It's all about the cash. We will continue to produce from existing leases, but no further drilling will be done until the price per barrel reaches a "magic" number again.

Basically, that magic number is based on the Company's ability to pay for the drilling of the well within 2 years. A few of the Bakken wells we have drilled are making around 800 barrels a day... flowing. That means it's kinda like ol' Jed Clampett... it runs out of the ground - no pumping required.

The "new" technology they refer to is horizontal drilling. It's not new, but they have made many advances to refine it, and to optimize returns - this also costs waaaaaay more to drill a well...up to 3 times as much as a vertical well. (say 5-15 million dollars per well)

Now, you may say, a well that makes 800 Bbl/day will make $13M in one year (at $45/Bbl)... Why not drill? Well, it's because the next well may only make 100 Bbl/day, earning $1.6M / Yr with the same drilling price of $15M - Yer not gonna pay that off in 2 years; are ya? There are MANY other costs associated as well, including oil quality etc. Sweet crude is at roughly $45/Bbl. right now. The oil my field produces is worth about $19/Bbl. right now... lower quality, lower return, less activity.

It boils down to the fact that it isn't cost effective to drill right now. Maybe if oil hits $60-65/ Bbl., we will see things start rolling again.

I find it odd that the Bakken discovery never rocked the boat at first. Then, when oil prices began to rise last year, and companies like mine began to "blow and go"... showing great returns with lower operating costs, the bottom fell out.

The fact is, it's mostly the middle east that controls the prices (to hell with OPEC - it's all BUNK!). That being said, doesn't it make sense that they would do what they need to to keep the US buying from them, and styme our self sufficiency?

Exactly! Sheesh Jeff and I thought you were a dumb****

I am out right now for Anadarko, Thundercreek/Devon, PetroCanada, CIG, WesternGas, Rowdy/Yates, and some fly by night oil companies down by the buttes and all over the county. About 5 months ago when the prices were high they couldnt have the oil in the ground any longer. When prices dropped they sent the rigs home. I remember having my calender book full 6 weeks advanced to go wire and program down hole submersibles on a drive. Now, im 2 weeks out at a time. Still busy getting my 55+ a week but its not like it used to be. The companies cringe a little more when I have to sell them a 200hp down hole pump Most just shut the lease in till prices rise.

Can you blame them?? Just today I was talking to the branch manager from Rowdy and they told me they were turning off 58% of their gas because prices at the hub have reached too close to a $1 per MCF. I imagine they will continue to do so until prices rise

 

[Ollie]

Word I've been hearing is that things will continue to be bad for drilling till around august september time frame.

The company the wife works for has layed down all but 4 rigs. A year ago there were moving 17 rigs.