Sarah was right.
Bump!
After 20 years of litigation, there's definitely a 10 percent chance of production. Go for it!
Is this a new Horizon in the Permian?
I stopped using the term fossil fuel a long time ago. I call it hydrocarbons. We have only drilled a few short miles into the Earth. Who knows just how much oil and natural gas lie beneath the surface of the Earth. There are oceans of hydrocarbons on the moons of Jupiter and Saturn. I sincerely doubt that ancient dinosaurs and savannahs morphed into hydrocarbons on these moons.
bmp
Hmmm, when exactly was that “Peak Oil” thing supposed to happen?
Oopsy.Looks like wikipedia needs some editing. (and they’re begging for money from the US right now)
>> According to the International Energy Agency, conventional crude oil production peaked in 2006.[5] A 2013 study concluded that peak oil “appears probable before 2030”, and that there was a “significant risk” that it would occur before 2020,[6] and assumed that major investments in alternatives will occur before a crisis, without requiring major changes in the lifestyle of heavily oil-consuming nations. Pessimistic predictions of future oil production made after 2007 state either that the peak has already occurred,[7][8][9][10] that oil production is on the cusp of the peak, or that it will occur soon.[11][12]
Hubbert’s original prediction that US peak oil would occur in about 1970 appeared accurate for a time, as US average annual production peaked in 1970 at 9.6 million barrels per day and mostly declined for more than 3 decades after.[13] However, the use of hydraulic fracturing caused US production to rebound during the 2000s, challenging the inevitability of post-peak decline for the US oil production.[14] In addition, Hubbert’s original predictions for world peak oil production proved premature.[6] Nevertheless, the rate of discovery of new petroleum deposits peaked worldwide during the 1960s and has never approached these levels since.[15] <<
US Geological Survey Discovers Largest Continuous Oil and Gas Resources Texas-New Mexico
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46 billion/[20 million bbl/day (US demand)] = 6 years.