noharleyyet
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Cut the contrarianism . . .
National Petroleum Reserve
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The wheel throws out a couple every once in a while so we don’t become lemmings.
The funny thing about oil n gas predictions is that the experts have been trying for years. And they are still wrong
Personally I'm fine with the way things are. And would rather see our government get spending under control.
And it's not governments job to save me.
As far as petroleum exploration in the National Petroleum Reserve. Specifically set aside for petroleum development. And the majority of federal lands locked up as not develpable as part of the agreement for land use. Americans continue to fight their government.
It's too bad when our biggest fear is government, just my thoughts
Development that provides for a large part of our economy directly n indirectly. And is done in a safe manner.
Energy security should be an increasing concern for us all.
Yes at its peak there was 2 billion barrels of oil. And near 500 million today. And growing. With new technology and a tax structure that incentified it. And the state government benefits.
Companies are in business to make money. There is nothing wrong with that. Seems that saying a company is " big" . Seems like trying to conjuncture thoughts of something bad.
To me. Producing good jobs. In a safe environment in an environmentally safe way. That pays very good dividends to the state. And a very small portion was put away for the people. As our contusion says the resources belong to the people. And more than 80% of Alaskans as their government to honor, expectedly. From petroleum development.
So how is this bad
Personally I'm fine with the way things are. And would rather see our government get spending under control.
And it's not governments job to save me.
As far as petroleum exploration in the National Petroleum Reserve. Specifically set aside for petroleum development. And the majority of federal lands locked up as not develpable as part of the agreement for land use. Americans continue to fight their government.
It's too bad when our biggest fear is government, just my thoughts
Development that provides for a large part of our economy directly n indirectly. And is done in a safe manner.
Energy security should be an increasing concern for us all.
Yes at its peak there was 2 billion barrels of oil. And near 500 million today. And growing. With new technology and a tax structure that incentified it. And the state government benefits.
Companies are in business to make money. There is nothing wrong with that. Seems that saying a company is " big" . Seems like trying to conjuncture thoughts of something bad.
To me. Producing good jobs. In a safe environment in an environmentally safe way. That pays very good dividends to the state. And a very small portion was put away for the people. As our contusion says the resources belong to the people. And more than 80% of Alaskans as their government to honor, expectedly. From petroleum development.
So how is this bad
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BigHornRam
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Good thing I'm not invested in ConocoPhillips.
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Good thing I'm not invested in ConocoPhillips.
BigHornRam
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ExxonMobil is like balls to the wall right now. No wonder ConocoPhillips is worried.
Exxon Mobil's fourth-quarter profit tops estimates as oil and gas prices soar; shares rise
Exxon Mobil's revenue jumped more than 80% year over year during the fourth quarter amid a rebound in oil and gas prices, the company said Tuesday.
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$24B capexExxonMobil is like balls to the wall right now. No wonder ConocoPhillips is worried.
Little surprised to see the dividend XOM is kicking out right now.Exxon Mobil's fourth-quarter profit tops estimates as oil and gas prices soar; shares rise
Exxon Mobil's revenue jumped more than 80% year over year during the fourth quarter amid a rebound in oil and gas prices, the company said Tuesday.www.cnbc.com
SAJ-99
Well-known member
And workers. Don’t forget workers. That seems to be an increasing problem across industries.
To summarize your point, I had an O&G exec tell me one time that oil in the ground is worth $0. It’s only worth something once you get it out and it all depends on the cost to do that.
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I feel like I should just copy paste that on every thread, that's 100% accurate and the exact and really only point I have been attempting to make.
BigHornRam
Well-known member
I've met at least 3 guys from Montana that worked on the north slope. 2 weeks on and 2 weeks off. Between wages and commercial flights twice a month, labor costs are steep getting the oil out of there.
BigHornRam
Well-known member
Why we need Alaska oil. A little cold weather in Texas and the sissies stop producing.
oilprice.com
Cold Spell In Permian Sends Oil Prices Even Higher | OilPrice.com
Crude prices rallied on Friday morning as a result of small outages in America’s largest shale play and ongoing political tensions between Russia and Ukraine
oilprice.com
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Deleted member 28227
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Yeah it's a real bummer there aren't any states between AK and Texas that produce oil... oh waitWhy we need Alaska oil. A little cold weather in Texas and the sissies stop producing.
Cold Spell In Permian Sends Oil Prices Even Higher | OilPrice.com
Crude prices rallied on Friday morning as a result of small outages in America’s largest shale play and ongoing political tensions between Russia and Ukraine
Oklahoma, Colorado, and North Dakota all produce more oil than AK does.
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BigHornRam
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$100 oil just around the corner wllm.
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Deleted member 28227
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I'm trying to decide which hat to eat... how about the illegal blaze one?
BigHornRam
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How about dsnows fluorescent pink hat?
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I think in some ways that's really the entire issue Alaska has going forward.
There are basically 3 operators in the entire state.
Conoco = 4 rigs
ENI (Italian Public) =1 rig
Hilcorp (Private) = 1 rig
ENI is sun ~30,000 BOD and Conoco and Hilcorp are like ~200,000
A well declines over time so in order to keep your production even level you have to keep drilling, honestly I'm not familiar enough with North Slope decline rates/completion rates to tell you how many.
1 rig for ENI probably? increases production
1 rig for Hilcorp, I doubt increases production
4 rigs for Conoco? not sure
Go on ENI's website and try to find anything about Oil, like shell and other European operators they are waaay more green energy conversion train than US companies.
Hilcorp is private so I can't find out much about their plans.
So basically the fate of AK, which uses Oil and Gas taxes for everything, is entirely reliant on 1 company, Conoco. Conoco has said they are spending 1B in Alaska.
To compare to the lower 48, Colorado and Oklahoma produce similar amounts of hydrocarbons to Alaska. Here are the operators + rig count for OK. Now it's shale and therefore a steeper decline curve so it's not a 1 OK rig =1 AK rig... I'm not sure what it is as there is a ton of variability in even OK but... I think it demonstrates how much more diverse the operating environment is...
53 rigs with 7 public operators. Conoco is probably the size (market cap) of the first 10 (excluding XTO) operators combined.
But I think the not having all your eggs in one basket, close proximity to infrastructure, good tax and regulatory environment, and cheaper drilling costs means that with Oil prices the way they are we will see Oklahoma grow production more rapidly than AK.
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BigHornRam
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See @neffa3 . Push a few buttons and all this solid gold analysis pops out! Didn't even have to subscribe to a newsletter.
Good stuff wllm.
Irrelevant
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TouchèSee @neffa3 . Push a few buttons and all this solid gold analysis pops out! Didn't even have to subscribe to a newsletter.
Good stuff wllm.
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