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Thread: Permian Basin Oil - Microthread

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    Default Permian Basin Oil - Microthread

    Wanted to separate out a small discussion on the Permian basin. Shell just sold out to Conoco, which must mean they don't see growth prospects, or they fear cost increases, or both.
    Mike Shellman is one of the commentators I enjoy reading, he's been going on for a while that the Permian isn't economic and cannot grow without adding debt. Some charts here: https://www.oilystuffblog.com/single...t-it-use-to-be

    Shale Profile has some free tools if you want to check mikes work.

    Incoming regulations / prohibitions on drilling on federal land (BLM land) could have a big impact on New Mexico. Water shortages are happening in areas.
    The Baker Hughes rig count for Sept 17th showed that the Permian accounted for 259 out of a total of 505 USA land rigs. It's been consistently around 50% of the total for years.

    So, anyone have predictions for the Permian basin? Predictions for how that will impact other USA basins, and world wide industry?
    ...

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    Anecdotally, we have been seeing a shift away from super majors and large publics towards small private operators who are very low cost. Some good opportunities for targeted growth, but the days of quadruple meat subs might be behind west texas. Agree with you that the BLM will have a big impact on New Mexico


    The story of shell could be indicative of the value in the permian, buy an asset, lose money developing it and then apparently get out while you can. I would say Shell is the exact opposite of a low cost operator, but I don't see cop doing any better. It looks like this secures a bunch of acreage in west texas, which could help move future development away from NM

    Capture.JPG
    Last edited by dirtsniffer; 09-22-2021 at 10:42 AM.

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    We live in a post oil world.

    Get your head right.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    Quote Originally Posted by killramos View Post
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    We live in a post oil world.

    Get your head right.
    Oil companies should actually be saying this. It'll keep the enviro-weenies off their back.

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    Where's the graph that shows the production of wells based on the year they were drilled and how much faster it's been dropping off the last few years. I always found that one fascinating when someone posts it
    Nolan

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    Quote Originally Posted by killramos View Post
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    We live in a post oil world.

    Get your head right.
    That's probably the message Shell will give to thier shareholders. Makes sense to get out of dead energy sources like oil and reinvest in more forward thinking projects, like . . . . .
    ...

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    Bitcoin!

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    Quote Originally Posted by killramos View Post
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    We live in a post oil world.

    Get your head right.
    I also thought we are living in a post coal world.....

    https://tradingeconomics.com/commodity/coal

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    Coal is soooooo Obama

    We are living in Biden’s world now
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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