OPEC wins

[eyexer]

Yep, I agree. John Kerry is our own Neville Chamberlain. These events have been foretold, sad to see our leaders have become enablers.

And Heidi is right there beating the drum with them

 

[Sum1]

Go Hiedi! ND has no one to blame but themselves. We(not I) voted her in.

 

[Brian Renville]

And Heidi is right there beating the drum with them

Got that right, I haven't seen nor heard of Heidi doing or saying anything lately. I bet her handlers are saying keep your mouth shut and let us make it so your vote won't matter anyway.

 

[Enslow]

Whats worse sconis or democrats?

 

[lunkerslayer]

Canadians or jehovah witnesses
:;:

 

[Kurtr]

a democratic sconi jehovah witness

 

[johnr]

Anything east river....haha :;:

 

[NodakBuckeye]

Good one svnmag!

Heidi ho... hey she fixed our post offices right?, why I walked into Watford City's at 2 minutes after opening on Saturday and was only 35th in line and was able to walk out 45 minutes later. She can handle threats to our way of life no problemo.

I'll take a Sconi Jehova's Witness over a liberal any day.

 

[raider]

interesting times...

couple things... if opec does raise the price to say $75 to increase their revenues, what is the incentive of us producers to go balls out again to increase production only to give away profits on these wells when opec decides to drop the prices again??? this latest price drop might just have changed the game and thinking of the top producers who are really the only ones who can push up the volume quickly... speculators in the oil industry without deep pockets are going broke right now, and may not be interested in jumping back in again... the leases are tied up, the technology is figured out, and the big companies will be swallowing up the failing little guys until things change... iran may have set the world up for high dollar oil for generations with this latest price manipulation...

russia didn't invade crimea, iran doesn't have or want a nuke, and saudia arabia has oil bubbling to the surface on it's own right???

a guy told me last week he has been in saudi drilling, and they have drilled 30 dry holes in the past 6 months... who knows...

 

[NodakBuckeye]

At 75 there will be more drilling, plain and simple. Increases will be based on budgets and with this price drop still fresh in their minds there will not be any "Katy, bar the door stuff". Cheap oil in and of itself does not cause small operators out of business. Couple cheap oil with no common sense planning, poor choices in leases, tons of debt, lack of proper technique, poor use of resources, poor cost controls, etc.... and it gets ugly. Just like any industry, not all make it. The upside is that there will be better technology and methods and cost controls that come out of this that make the survivors more effecient.

 

[shorthairsrus]

35 in line at at Watford citypost office can't be to slow in the field o

 

[Brian Renville]

35 in line at at Watford citypost office can't be to slow in the field o

Used to be 70. Still is one of those avoid at all costs errand spots.

- - - Updated - - -

interesting times...

couple things... if opec does raise the price to say $75 to increase their revenues, what is the incentive of us producers to go balls out again to increase production only to give away profits on these wells when opec decides to drop the prices again??? this latest price drop might just have changed the game and thinking of the top producers who are really the only ones who can push up the volume quickly... speculators in the oil industry without deep pockets are going broke right now, and may not be interested in jumping back in again... the leases are tied up, the technology is figured out, and the big companies will be swallowing up the failing little guys until things change... iran may have set the world up for high dollar oil for generations with this latest price manipulation...

russia didn't invade crimea, iran doesn't have or want a nuke, and saudia arabia has oil bubbling to the surface on it's own right???

a guy told me last week he has been in saudi drilling, and they have drilled 30 dry holes in the past 6 months... who knows...

I can believe that. A lot of the turmoil in Saudi neighbor Yemen was brought on when they ran dry and the people got restless.

 

[dean nelson]

Saying they beat our oil is like saying the ship is no longer sinking because you put your gum over the hole! They dont seem to get that it is us that holds the cards an such can hold off for how ever long and then just start up again when the price component gets to where we need it.

In the end it's not hard to beat a country who only has one export!

 

[eyexer]

yea I think allowing exporting of oil is going to be a factor in all this. hope they get it done. but we do have a worthless government so I'm sure they won't do the right thing.

 

[Davy Crockett]

It's complicated business for sure and only time will tell, The truth comes after all the claims fizzle out. Media and Investors usually don't know the difference between a wire brush and a fabricated flow model so investors are at the mercy of the industry which in turn has control over the front page oil news. It's a way for oil men to keep their bankers, investors and employees hanging on like a puppet on strings. I could be way wrong , And I sure hope I am , but I wouldn't doubt that even Saudi Arabia is trying to make it look like their own ship will sink first. Their next plan might be to turn right around and expand operations on US soil, Crazier things have happened. I don't know how smart they are but they sure have a lot of luck in the oil business.



http://www.fool.com/investing/gener...ropping-slide-shows-why-saudi-arabia-mak.aspx

 

[Allen]

Whats worse sconis or democrats?

Two peas, one pod.

- - - Updated - - -

Way I see it, OPEC is thus far getting what they want. And that is a lower investment into the oil resources of the U.S. and other non-OPEC areas. There are around 70 rigs drilling in ND right now, yeah they are faster and more efficient per rig than the 230 we had some 18 months ago, but they are not going to keep production up where it is currently, much less increase production. The inflection seems to already be there as an article in the Trib said we were about 9k barrels less off our peak production. So at a minimum the growth has ceased.

I think what OPEC is hoping for is to hold out a little while longer and once our production (and that of other expensive areas) is in an unstoppable fall, THAT is when OPEC will cut their own production in order to jack the price of crude through the roof. Will we see near immediate infusion of more rigs and enhanced oil recovery (EOR) projects? Of course, but that will take months to a year or two to reverse the downward trend already in place. In the meantime, OPEC will be making bank off of their cuts in production.

At least, that's where I am placing my bets.

 

[deleted___account]

$200 oil coming when it does turn around is the rumor. I'll believe it when I see it. We need this ship to turn around. Many businesses are hurting from this mess. I'm a part timer on the HR side of things running my own little head hunting operation. Companies are still hiring. It's obviously nothing like it was before, not even close. The ones hiring are mainly little roustabout companies and trucking companies still. Some of the bigger companies are periodically picking a few people up here and there but nothing in the masses. Couple years ago I stumbled across http://themilliondollarway.blogspot.com/ it's a pretty good place for keeping up with what is really happening out there. The guy used to live there and has since moved away, but he keeps it updated everyday. He's been pretty spot on since he started his site. He's quite bullish when it comes to the bakken, but he knows his stuff. Other rumors out there are saying $20 oil is coming too. It's on the interwebs so, take that into consideration before assuming the worst. At this point in time, I'd rather see it go back to the madness instead of where we are sitting and heading right now. ugggh, too many people effected by the slowdown.

 

[eyexer]

in general I don't think the oil companies are bad off. most keep themselves in a position to weather things like this. The company I work for has a lease operating expense of $6.50 per barrel in the Bakken. Some area's they have a $12.50 a barrel LOE and the average is $9.25 for the company.

 

[Davy Crockett]

in general I don't think the oil companies are bad off. most keep themselves in a position to weather things like this. The company I work for has a lease operating expense of $6.50 per barrel in the Bakken. Some area's they have a $12.50 a barrel LOE and the average is $9.25 for the company.

What all is covered by LOE ? I've heard SW disposal can be as high as $ 15 Bbl, Is there any truth to that ?

 

[sl1000794]

What all is covered by LOE ? I've heard SW disposal can be as high as $ 15 Bbl, Is there any truth to that ?

The shale is 10 to 12 thousand feet, how much water can there be down that deep that wasn't pumped into the well during fracing?

I worked in NM for 5 months for Pan American Petroleum in '68, but that was a natural gas field, not oil. There were 2 tanks at each well head - one for "drip" or condensate and one at the FWKO for water. I just knew that they were serviced by tanker trucks, but I didn't work there long enough to know how the water was disposed before Uncle Sam/Army came calling and I never went back after.