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New Shale Formation in West Texas could Dwarf the Bakken
Oil Price ^ | January 30, 2013 | Charles Kennedy

Posted on 02/03/2013 8:23:34 PM PST by 2ndDivisionVet

The US shale boom has led some to predict that it will overtake Saudi Arabia as world’s largest oil and gas producer by 2020, thanks to the massive reserves found in plays such as the Bakken Shale of North Dakota, the Marcellus Shale in New York, and the Eagle Ford Shale in Texas; even the newly discovered Tuscaloosa Shale formation in Louisiana holds large potential.

However there is a new shale formation that has been discovered in West Texas which could dwarf all others being drilled in the US at the moment.

The play is known as the Cline Shale play and has been discovered in the Permian Basin.

John Breyer a geologist at Marathon Oil Corp.(NYES: MRO) said that this new discovery could dwarf anything that exists in North Dakota...

(Excerpt) Read more at oilprice.com ...


TOPICS: Business/Economy; Canada; Culture/Society; News/Current Events; US: Louisiana; US: New York; US: North Dakota; US: Texas
KEYWORDS: bakkenshale; clineshale; eaglefordshale; energy; louisiana; marathonoil; marcellusshale; newyork; northdakota; permianbasin; saudiarabia; shale; shaleoil; texas; tuscaloosashale
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To: Texas Fossil
AGW/Climate Change BS

Yep. These idiots are easy to spot. "True Believers" have a smell about them. Smells like ozone.
41 posted on 02/03/2013 11:09:26 PM PST by PA Engineer (Liberate America from the Occupation Media.)
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To: Perkalong

Climate change is BS... most people who are clear thinkers and not brainwashed by propoganda know this.

Also, most clear thinking people are ok with current fuels, as alternative fuels dont really exist or work well in the marketplace...


42 posted on 02/03/2013 11:28:06 PM PST by neverbluffer
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To: Jeff Chandler
I can see the government using the resulting tax revenue to pay down the debt, and then beginning a new spending binge.

GMTA!

43 posted on 02/03/2013 11:59:27 PM PST by Don W (There is no gun problem, there is a lack of humanity problem!)
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To: 2ndDivisionVet

Meanwhile, Obama is furiously studying ways of thwarting this discovery as well as all the others. Are armadillo lizards an endangered species?


44 posted on 02/04/2013 12:33:56 AM PST by monocle
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To: 2ndDivisionVet

Quick, obama, declare the whole area a National Park! We gotta stop this energy independence kick, otherwise, how are the Arabs going to fund the Muzzlem Brotherhood and al-Qaeda?


45 posted on 02/04/2013 2:41:25 AM PST by Right Wing Assault (Dick Obama is more inexperienced now than he was before he was elected.)
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To: Perkalong

Except that oil, unlike coal is not a fossil fuel. It is created by the decomposition of rocks in the earth’s mantle.


46 posted on 02/04/2013 2:47:48 AM PST by Fai Mao
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To: wideminded; editor-surveyor

Some people just aren’t good at math.


47 posted on 02/04/2013 3:21:58 AM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: Jeff Chandler

Ugh. Good point.


48 posted on 02/04/2013 3:35:12 AM PST by St_Thomas_Aquinas
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To: editor-surveyor
Seriously, ALL of the oil in all of the shale in the US would not begin to pay down our debt.

I saw trillions and did some quick math. But, sheesh, you're right.

49 posted on 02/04/2013 3:46:41 AM PST by St_Thomas_Aquinas
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To: Army Air Corps; Fractal Trader

Pay dirt: The demand for land in the Cline Shale region
http://lubbockonline.com/local-news/2013-01-23/pay-dirt-demand-land-cline-shale-region#.UQ-ePR2Yt8E

Commercial property listed in Cline Shale region selling within 24 hours

As Cline Shale boom expectations mount, the residual effects of recent increases in oil and gas industry activity are apparent in skyrocketing demand for property.

Regional property demands are keeping pace with energy industry buzz generated as interest in the Cline Shale grows. In a collective attempt to stay ahead of the oil boom curve and protect resident interests, local officials gather monthly to provide updates and voice concerns surfacing as drilling increases.

The demand for Cline Shale property took center stage at the Jan. 16 Cline Shale meeting in Snyder, where community leaders across the region reported increasing demand for residential, commercial and industrial property.


50 posted on 02/04/2013 3:50:17 AM PST by thackney (life is fragile, handle with prayer)
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To: 2ndDivisionVet

Not new to those of us that have been producing it for the last 10 years.


51 posted on 02/04/2013 3:59:03 AM PST by Dusty Road
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To: Perkalong

Whats he going to do, this is all private land.


52 posted on 02/04/2013 4:03:39 AM PST by Dusty Road
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To: PA Engineer

It’s sad to see so many here that have fallen for the anti fracing BS. We have 20 more Cline wells to drill on our place up nth and I’m tempted to video the whole process from drilling, fracing to production. It would be an eye opener for many especialy when they see the technologies involved and all the people it takes to pull this off. The population in our area has increased by about 15-20 percent in the last 3 years.


53 posted on 02/04/2013 4:18:07 AM PST by Dusty Road
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To: Fai Mao

BS


54 posted on 02/04/2013 4:21:58 AM PST by Dusty Road
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To: thackney

“As Cline Shale boom expectations mount, the residual effects of recent increases in oil and gas industry activity are apparent in skyrocketing demand for property.”

That is an understatement, the flood of people moving to this area has over run us. Old properties and houses are being rebuilt and turned around as fast as they can complete them. Major builder from around the state are setting up facilities to keep up. Service companies can’t get enough people to keep up with the demand. I handle the production side of our company and keeping things up running and flowing is getting more difficult. My pumper used to get their loads sold within 24 hours now it may takes as long as 4 days to get a load picked up. Pecos and Navajo have both brought in trucks from around the states and have set up new gathering stations on the west and north side of town. Two new gas lines are headed north of town to gathering locations up there. We’re like a giant antbed down here.


55 posted on 02/04/2013 4:36:50 AM PST by Dusty Road
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To: 2ndDivisionVet

Whats kind of funny about this story is Marathon dominated this area for years then sold their holdings and started chasin gas over in the Hanisville Shale over in LA. They were sitting right on top of this.


56 posted on 02/04/2013 4:43:54 AM PST by Dusty Road
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To: 2ndDivisionVet

does this mean, that we don’t have to kiss some muslims butt in order to buy foreign oil...time to pack up and leave the middle-east....who needs muslim oil?


57 posted on 02/04/2013 4:49:16 AM PST by B212
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To: St_Thomas_Aquinas

Apparently math isn’t your friend either.

A trillion barrels currently recoverable in Green River shale at $100 per barrel is $100 trillion.

Subtract production costs and a “mere” $17 trillion debt goes away pretty quickly.


58 posted on 02/04/2013 4:51:49 AM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: Fai Mao

Perhaps you could apply your theory to why oil production is only found in Sedimentary Basins. Also, use your theory to explain why oil is never sourced to igneous rock.


59 posted on 02/04/2013 5:13:40 AM PST by thackney (life is fragile, handle with prayer)
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To: Paladin2

I Think the shale is lower, deeper than the old production.

We went to the area last May, passing through so to speak, and learned of the activity. We stayed three days to visit the oil country off the Interstate and see the activity.

The place was like a bee hive. White pickups with one or two occupants were rushing about all over. We talked at length with a man, a pipe fitter, in the camp ground who had come from Pennsylvania. He was calling his buddies telling them to come. He was offered as much work as he could do.

In the small towns, there were all sorts of people hiring for all kinds of jobs. More staff means more work, more payroll, more clerks etc. The private campgrounds were full. The travelers like the one we met had problem finding a place to park their trailers.

On topic, we saw new wells being drilled in vacant spots but we also saw several being drilled on the same pad, right beside an old well.

The area visited was west of Odessa TX, north and south of Monahans and westward


60 posted on 02/04/2013 5:29:21 AM PST by bert ((K.E. N.P. N.C. +12 .....The fairest Deduction to be reduced is the Standard Deduction)
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