Posted on 02/26/2015 7:19:09 PM PST by Ernest_at_the_Beach
The world’s largest oil exporters were not pleased with latest news coming from U.S. oil and gas producers: oil production keeps on rising.
(Excerpt) Read more at permianshale.com ...
I hope texas can take down these wahabbi princes.
The EIA also said it expects production to decrease during this year’s third quarter, but not by much before increasing again if oil prices have recovered.
“The world’s largest oil exporters were not pleased with latest news coming from U.S. oil and gas producers: oil production keeps on rising.”
Just knowin’ it’s Pee’n off Obama.
I feel good about it!!
That’s someone’s opinion “out of thin air”. I think Saudi Arabia knew exactly how the production was going to play out. I seriously doubt they are caught by surprise by any of this.
Now if this author can produce some quotes to that effect, this would make it a “real story” ... but he can’t ... so it remains a figment of his imagination.
But refining iis running behind ....so gasoline prices won’t decreas much till the refiners get their capacityh going again.
See the excerp at post #3.
Exactly, what’s the problem? In a world of scarcity, production’s a good thing. Whether it’s champagne or oil. Enjoy !
Yeah, I had heard that earlier. I just don’t think Saudi Arabia is in the dark about this, even before the dramatic drop in oil prices.
There is a backlog of wells awaiting fraccing in ND, about 700 wells. When they go online, production will likely peak unless prices go up. The drilling rig count is down to 118 from over 200, and below the decline curve replacement level.
Yeah, they don’t have cheap oil, like Saudi Arabia does ... :-) ...
For a well already drilled but not yet finished...any idea how much more it costs to finish it...in percentage terms?
Are fracced oil well decline curves similar to those of fracced gas wells?
Russia and Denmark aren’t popping the Prosecco either.
Generally down by 75-80% in the first two years, then fairly stable.
interesting, it ma take a while before oil gets back to 80
yep it is going to take a while for all this to play out.
Rig count to 500?
I hope not—I work wellsite....
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