Posted on 09/19/2015 4:31:02 PM PDT by brownwill6767
Dr. Daniel Fine, associate director of the New Mexico Center for Energy Policy, explains how an oil price war led by Saudi Arabia impacts the prospects for drilling off the N.C. coast
(Excerpt) Read more at youtube.com ...
I haven’t watched the video yet, but if anyone thinks horizontal drilling and fraccing is expensive (about 8 million/well), offshore drilling makes it look like something off the bargain shelf.
“I haven’t watched the video yet, but if anyone thinks horizontal drilling and fraccing is expensive (about 8 million/well), offshore drilling makes it look like something off the bargain shelf.”
You right about that.
Attended a conference where a guy was talking to me about the last well drilled on its deepwater prospect: $125million to drill and $100mm to complete.
Not for the faint of heart.
87% of federal offshore acreage is OFF LIMITS to development.
“America must pursue smart energy policy in order to continue as a global energy superpower. The U.S. Outer Continental Shelf (OCS) is estimated to contain vast undiscovered oil and natural gas resources. Unfortunately, the federal government has placed most of the OCS off-limits to energy exploration and development.
The Bureau of Ocean Exploration and Management (BOEM) estimates that 89.9 billion barrels of oil and 404.6 trillion cubic feet of gas have yet to be discovered on the U.S. OCS.
Unfortunately, some of BOEM’s estimates are 30 years old. If Congress permits the use of state-of- the-art seismic surveying technology in largely unexplored areas of the Atlantic OCS, we may discover an even greater abundance of oil and natural gas.
- See more at: http://www.americasoffshoreenergy.com/#/?section=unlocking-americas-offshore-energy-opportunity
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