Posted on 05/28/2008 7:55:59 AM PDT by thackney
HOUSTON, May 23 -- US drilling activity broke a 22-year record the week ended May 23, with 1,889 rotary rigs working, the most since Jan. 3, 1986 when Baker Hughes Inc. reported 1,983 units active.
The latest weekly count is 27 units more than the previous week, and up from 1,760 during the same period a year ago. Land operations accounted for the latest increase, up 31 rigs to 1,799 drilling. Inland waters activity dipped by 2 rigs to 23 working. Offshore drilling was down by 2 rigs to 67 rigs in US waters, including 64 in the Gulf of Mexico.
Texas registered the biggest increase among the major producing states with its rig count escalating by 33 units to 935. Oklahoma and California gained 2 rigs each to 207 and 44, respectively. Louisiana, New Mexico, and Alaska were unchanged at 149, 76, and 7, respectively. Colorado and Wyoming dropped 3 rigs each with respective counts of 119 and 70.
There were 1,493 rigs drilling for natural gas this week, 22 more than last week. Oil drilling increased by 5 to 386 units. The remaining rigs were not classified. Horizontal drilling increased by 16 rigs to 544. Directional drilling gained 9 units to 385.
In Canada, drilling increased by 20 rotary rigs to 152 working, up from 114 in the same period a year ago.
Let’s see:
High price leads to
More supply leads to
Lower prices.
Who would have thought?
Now if we could throw the environmentalists in jail for a bit we could let them drill even more.
It’s also big gov. via big oil that makes it hard for indi drilling.
I think I heard that we have big reserves of oil that haven’t been used yet. I think I heard that we could theoretically be energy independent by developing our own resources. So drilling for more oil has got to be part of our plans going forward.
Why are these enviro people against everything?
They are against drilling for more oil
They are against increased coal mining
They are against nuclear power development
they are against building new refineries
They are against new hydro-electric projects
They are against so many things that could help solve our energy problems. They are all in favor of solar and windmills, but those alone won’t provide all the power they need for the lifestyles they have become accustomed to.
But, what about the blue-spotted piccalo-beaked throatwarbler? Who will speak for the blue-spotted piccalo-beaked throatwarbler?
Go for 2000
1. What is the timeline from a successful new US domestic oil well producing oil until a gallon of gasoline is produced from it's oil?
2. At what average capacity are all our refineries running at present?
3. How many of our refineries are either shut down altogether or are not producing at the average...and why....and what is being done about that?
4. What is an authoritative website to track - in real time - the amount of crude oil being produced country by country?
5. And...what is an authoritative website to track in real time, how much crude oil a given country is buying?
thanks to all!
A huge variation on the location and type of well. An exploratory well in an undeveloped area of the arctic may be decades longer than a new well in an existing Texas oilfield.
2. At what average capacity are all our refineries running at present?
U.S. Weekly Percent Utilization of Refinery Operable Capacity
http://tonto.eia.doe.gov/dnav/pet/hist/wpuleus3w.htm
3. How many of our refineries are either shut down altogether or are not producing at the average...and why....and what is being done about that?
That level of information is produced yearly based upon a snapshot of what is happening on January 1st. 2008 data is not yet released. Also, it does not tell why, only what units are operating. I am currently working on several refinery upgrades that require downtime to tie in new units. That will not show up in any report until the new production capacities are reported next year.
Refinery Capacity Report
http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/refinery_capacity_data/historical/2007/refcap07.pdf
4. What is an authoritative website to track - in real time - the amount of crude oil being produced country by country?
U.S. Crude Oil Production by State and PAD District
http://tonto.eia.doe.gov/dnav/pet/pet_crd_crpdn_adc_mbbl_m.htm
5. And...what is an authoritative website to track in real time, how much crude oil a given country is buying?
Much harder information to come by. Tanker movements are tracked by multiple source and tend to be accurate although a couple months old. EIA and IEA gather the information along with other data and produce the following:
International Petroleum (Oil) Consumption Tables
http://www.eia.doe.gov/emeu/international/oilconsumption.html
International Energy Agency - Oil Market Report
http://omrpublic.iea.org/
Subscriptions are required for more timely information.
OPEC also provides the following monthly report that covers them and the world industry.
OPEC - Monthly Oil Market Report
http://www.opec.org/home/Monthly%20Oil%20Market%20Reports/2008/pdf/MR052008.pdf
Note the more recent the information the more likely it to be based upon preliminary assumptions and to be refined in the following months. You can see changes if you go back through severals months of reports.
Sure.
1/4 of the US is federal land so most of that is off limits. 80% of the coast is off limits.
We have some severe supply constraints.
The number of shut refineries is probably meaningless. If they’re shut down, its because they were not upgraded to meet new fuel specs and won’t be back up. Refineries are cutting production because they can’t recover crude costs in their products. There’s a $21 advantage of heavies vs. light crude but unless a refinery can sell asphalt for > $700/ton, that doesn’t pay either.
High price leads to
More supply leads to
Lower prices.
< Liberal speak mode> "We cannot drill our way out of high fuel prices. Please President Bush, go to OPEC and beg them to increase production to lower fuel prices." < /liberal speak>
That worked until the dims had the oil CEOs on the hill last week when one told them that the American people were having to pay more because of Congress' actions. If increased production by OPEC reduces fuel prices, how can domestic production not lower fuel prices.
Go to the website mentioned in this article and look around you can even subscribe to certain other FREE NEWSPAPERS on the issue. I did look what I found:
S.C. Electric & Gas, Santee Cooper want to build 2 new nuclear plants
May 27, 2008
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COLUMBIA — South Carolina Electric & Gas and Santee Cooper want to combine on a nearly $10 billion project to build two new nuclear reactors at the V.C. Summer Nuclear Station.
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The utilities plan to file paperwork to secure a construction permit later this week. If there are no delays, crews would start building the plants in 2011. The first would start generating power in 2016 and the second in 2019.
The utilities say they chose nuclear power over other options because it is cleaner, cheaper and would give the companies more diversity in how it generates power.
Tom Clements with Friends of the Earth says his group is considering its legal options to block the reactors.
The V.C. Summer plant already has one reactor. It is in Jenkinsville, about 25 miles northwest of Columbia.
We need to use what the demoncrats are trying to take away from us.
PING to this post.
THANK YOU FOR THIS INFORMATION! I have often wondered about things like this!
Danae
My family and I have a vested interest in keeping oil prices high, and am convinced high crude is good for America.
Was going to short crude at $80 back in March, for these prices were an obvious ready to pop. Saved a ton of money by not following those charts, so then bells went off that these high prices were fraudulent and apparently strictly political...
Thanks. I have been carrying a number of 1400 for a while; 1800 sounds even better.
The country is nearly energy independent as it is. The oil question concerns mostly heating/fuel oil and gasoline for transportation. If we convert the fleet to electric the country could be entirely energy independent.
Weekly updates available at the data source:
http://investor.shareholder.com/bhi/rig_counts/rc_index.cfm
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