Posted on 09/14/2019 9:40:51 PM PDT by NorseViking
Yea, but the rest of the world gets their oil from the O-Peckers so it will drive prices up here. Economics 101.
LOL. Nice one:)
If the Russians buy the rights, then THEY can supply the troops to maintain security. A net win for us.
Good and bad. Prices go up here, more investment in fracking. Right now, low prices have pushed the frackers to the absolutely most safe and cheapest recovery-—but there is a LOT of oil out there.
Other than the Permian, most other oil plays are either fast becoming drilled up or a drop in the bucket (SCOOP/STACK). We need to convert more of the country to natural gas. OPEC knows we will be back soon. These horizontal plays only bought us about 20-30 years.
Gene’s. according to oil expert Peter Zeihan. Only the “easy” horizontals have been used up.
Let me jump on the “good point” bandwagon.
That is because at the current price deck and the cost to drill and complete a well that they are not commercial. A major component to all of the Permian wells is that they make a significant volume of natural gas and last I checked, they were getting next to nothing for it due to all of the bottlenecks.
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