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The Water Cooler
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Government Forcing Gas Prices Up So We Go Green?
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<blockquote data-quote="okietool" data-source="post: 2822458" data-attributes="member: 6030"><p>My guy at Chevron says $10 for them, I know ours is a little higher than that <strong><em>According to what I have been told</em></strong> by some of our management team.</p><p></p><p>That number surprised me also. I'm guessing that's at the well head, not at the refinery.</p><p></p><p>The oil wells I have kept track of are making about 45-50 bbls oil per hour and only about 30-35 bbls water. I'm not sure what the life will be, but I know one of the bigger producers is about 2 1/2 years old.</p><p></p><p>Right now those are costing about a million to drill and about the same to complete. But those are not final costs, there are discounts, etc. that I do not see.</p><p></p><p>Actually, the laterals in the shale drilling aren't very expensive to drill, 2000' to 2500' per day is pretty much reachable in the Woodford. The intermediate hole in central Ok. is where the expense is, good days there are still over 1000' / day average.</p><p></p><p>In Bone Springs wells in the Delaware Basin it's not the same. You can drill a 12000' well with a 4500' lateral in about 10 days.</p><p></p><p>There <strong>are</strong> a lot of variables, but I would guess anyone still drilling has most of those on a tight rein.</p><p></p><p>If the company is servicing a lot of debt, the overhead could be significantly higher.</p><p></p><p>I don't see the numbers, I just hear them at meetings. Plus my sample is pretty small.</p><p></p><p>As far as the engineering goes, every area has a different superstar and none of them reign forever. Good engineering is nice, but wellsite supervision is what make the difference. Witness Tenneco. At one time they had a pretty legitimate claim to be the best engineered oil company in the world IMO.</p><p></p><p>Didn't Clinton release some oil from the strategic reserve to knock the price of oil down once?</p><p></p><p>I can't see the point of doing that now.</p><p></p><p>I wonder what's the average price of the oil in strategic reserve?</p><p></p><p>The goobermint could take barrels of oil instead of money for leases etc. or at least as partial payment, that would keep the reserve pumped up.</p><p></p><p>Edit: Right now if I had to pick the king of engineering, it would be K&M Technologies. At least in the U.S.</p></blockquote><p></p>
[QUOTE="okietool, post: 2822458, member: 6030"] My guy at Chevron says $10 for them, I know ours is a little higher than that [B][I]According to what I have been told[/I][/B] by some of our management team. That number surprised me also. I'm guessing that's at the well head, not at the refinery. The oil wells I have kept track of are making about 45-50 bbls oil per hour and only about 30-35 bbls water. I'm not sure what the life will be, but I know one of the bigger producers is about 2 1/2 years old. Right now those are costing about a million to drill and about the same to complete. But those are not final costs, there are discounts, etc. that I do not see. Actually, the laterals in the shale drilling aren't very expensive to drill, 2000' to 2500' per day is pretty much reachable in the Woodford. The intermediate hole in central Ok. is where the expense is, good days there are still over 1000' / day average. In Bone Springs wells in the Delaware Basin it's not the same. You can drill a 12000' well with a 4500' lateral in about 10 days. There [B]are[/B] a lot of variables, but I would guess anyone still drilling has most of those on a tight rein. If the company is servicing a lot of debt, the overhead could be significantly higher. I don't see the numbers, I just hear them at meetings. Plus my sample is pretty small. As far as the engineering goes, every area has a different superstar and none of them reign forever. Good engineering is nice, but wellsite supervision is what make the difference. Witness Tenneco. At one time they had a pretty legitimate claim to be the best engineered oil company in the world IMO. Didn't Clinton release some oil from the strategic reserve to knock the price of oil down once? I can't see the point of doing that now. I wonder what's the average price of the oil in strategic reserve? The goobermint could take barrels of oil instead of money for leases etc. or at least as partial payment, that would keep the reserve pumped up. Edit: Right now if I had to pick the king of engineering, it would be K&M Technologies. At least in the U.S. [/QUOTE]
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