Perhaps it is turning around... perhaps the writer is pulling typical pump and dump? You decide...
Posted on 01/01/2014 7:37:40 AM PST by ckilmer
So what? American jobs and American tax revenue will still be generated!
You should not care at all about who the final user might be.
I’ve read somewhere that natural gas at $4 has roughly the same cost per btu as coal. That both are roughly 1/3 the price per btu as oil. That for oil to be priced in equivalent btu as natural gas and coal...oil would have to priced at roughly $30@ barrel.
Is that correct?
Anybody know?
This second phase, could that possibly include drilling in the Spearfish Formation near Bottineau? Do you have any insight?
I read a Sep 2013 article where Lynn Helms was interviewed and it stated: “In the Spearfish formation near Bottineau, N.D., one operator has applied for spacing units that would allow the operator to drill roughly 400 wells.”
http://thebakken.com/articles/338/nd-mineral-director-shares-bakken-update-research-plans
This is great news! Hopefully we can purge the government of liberals of both parties
..........
I’d be amazed if that happened. The liberals will just pee on the oil revolution and take credit for it at the same time blame republicans for any problems that come from the new oil wealth while exploiting its benefits to the max.
that’s just the way it works. the media will provide the dems their story line and most of the people will be none the wiser.
Look at Gastar Oil. (GST) in my opinion this will be the hottest stock over the next year. I got in at 3.50.
http://www.engineeringtoolbox.com/fuels-reference-equivalents-d_1089.html
Kinda a clumsy table but I have been curious for some time myself.
Perhaps it is turning around... perhaps the writer is pulling typical pump and dump? You decide...
OTC: LSTMF
Average Heat Content of Different Fuels
Fuel Type No. of Btu/Unit
Kerosene (No. 1 Fuel Oil) 135,000/gallon
No. 2 Fuel Oil 140,000/gallon
Electricity 3,412/kw/hr
Natural Gas 102,800/1,00 cu ft (Therm)
Propane 96,000/gallon
Pine (20% moisture)* 18,000,000/cord
Hardwood (20% moisture) 24,000,000/Cord
The most important thing said here is that they expect phase 3 production to last at least 20 years in the Baaken.
.......................
During his address to members of the council, Lynn Helms, director of DMR, explained the phase of development certain portions of the Williston Basin are currently in. According to Helms, the Sanish and Parshall areas are in phase three of development with high density drilling inserting multiple laterals into individual geologic formations such as the middle Bakken or upper Three Forks formations. Phase three of development in those areas could last for twenty years or longer.
In addition to the Bakken and Three Forks formation, Helms also reported on activity in the Tyler and Spearfish formations. Marathon Oil Corp. is planning to put horizontal test wells into the Tyler starting next year. “The Tyler is at the stage the Bakken was at in 2003 or 2004,” he said. In the Spearfish formation near Bottineau, N.D., one operator has applied for spacing units that would allow the operator to drill roughly 400 wells.
In the Williston Basin, it will take 185 drilling rigs roughly 20 years to create 45,000 new wells, he added. “The Bakken has reached its cruising altitude, it is safe to get up and walk around in the Bakken, but there will be turbulence,” he said.
http://thebakken.com/articles/338/nd-mineral-director-shares-bakken-update-research-plans
mark
bttt
yeah, I didn’t buy the individual stock argument. I was more interested in the guy’s contention that fracking is only pulling up an extra 3-15% of the oil in the ground.
The other amazing side of this is that oil drilling for the last 150 years since the dawn of the oil age has only pulled up about 10 % of the oil in the ground.
That leaves 90 percent of the oil still in the ground. Fracking only brings up the next 3-15%.
When we get rid of Salazar out of office hopefully oil companies will be able to drill on land they leased and open up public lands to development. Open free markets make the best price for the people but then the government looses its dictatorial powers and skimming off the top like Chicago mobsters and call it taxes.
the thing i love about coal is that it is a CONSTANT, EVEN heat... with any other heating(except maybe electricity) you get a warm/cool cycle as the unit kicks on raises the temperature then the house cools down till the thermostat kicks the unit on again
THAT! right there needs fixing.
and, when oil people go back to old, old oil wells that were pumped dry, they find that they are filling back up.... “up from the ground comes a bubblin’ crude”. Jed Clampett was dead on. the supply of oil in this old earth may be infinite.
Thackney....
Does it include...
* Low Friction Tubing ( Plasma coated with a Diamond Like Coating )
* The Various "Ceramic" beads instead of Sand.
* Other "Fluids" such as Propane instead of H20 and Sand?
BTW a April 12' article in Forbes on Fracking, one of the CEO's involved in this arena sort of gave a hint more technology to come, ( My guess in regards to the process and or increased yield ). I think it might be safe to say, the Fracking story hasn't been written in this regards, the application of more technology might make it like a weekly soap opera on TV. Stay Tuned :-)...
....and the Green River Formation weighs in a 3 Trillion Barrels of oil....with 1 Trillion Barrels recoverable with todays technology.
and, when oil people go back to old, old oil wells that were pumped dry, they find that they are filling back up.... “up from the ground comes a bubblin’ crude”. Jed Clampett was dead on. the supply of oil in this old earth may be infinite.
.....
yeah, the old wells were only in special places like under salt domes. In those place oil would seep up from underlying source rock and collect. They were easy then to pump dry.
Over the years more oil would come up from the source rock to refill the oil under the salt domes.
Today the drillers are starting to drill in the underlying source rock.
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