ROCKMAN wrote:Every "flood" has to start somewhere: a company just received approval to drill and frac 4 wells in the new big shale play in the U.K. Now just another 5,000+ wells to go...assuming these first wells have encouraging results. And then watch out...the flood begins!
But might take a while: the UK has about 50 drill rigs compared to the 1,750 we had running during the height of the US shale boom.
(Anchorage, AK - October 4, 2016) Caelus Energy Alaska, LLC announced Tuesday that its subsidiary, Caelus Energy Alaska Smith Bay LLC, has made a significant light oil discovery on its Smith Bay state leases on the North Slope of Alaska.
Based on two wells drilled in early 2016 as well as 126 square miles of existing 3D seismic, Caelus estimates the oil in place under the current leasehold to be 6 billion barrels. Furthermore, the Smith Bay fan complex may contain upwards of 10 billion barrels of oil in place when the adjoining acreage is included. Due to the favorable fluids contained in the reservoir, Caelus expects to achieve recovery factors in the range of 30-40%. Additional drilling and seismic should improve estimates of oil in place via delineation of undrilled fan lobes and channel complexes imaged on the original 3D seismic.
ennui2 wrote:radon1 wrote:POD is about depletion, and it is much more focused than an "economics" talk. In addition, it incorporates geology etc., i.e. the things outside the realm of "economics". "Economics" are a only slightly better than etp anyway.
Wrong. POD is just Chris Martenson's Crash Course with another name on it.
rockdoc123 wrote:Early days but very interesting.
ROCKMAN wrote:tita - The world doesn't need another N Slope or Deep Water GOM field. It needs TRENDS of new reserves and the economic incentive the drill many tens of thousands of wells over many years to have a significant impact.
Good luck with that, Mr. N Slope and Mr. U.K. LOL
The costs are going to be high, and the development of this play have to be supported with high enough oil prices.
It isn't the deux ex machina some would want but it does give some breathing room to sort out renewables in a manner that makes sense along with oil, natural gas and coal.
rockdoc123 wrote:It isn't the deux ex machina some would want but it does give some breathing room to sort out renewables in a manner that makes sense along with oil, natural gas and coal.
"...but it does give some breathing room to sort out renewables in a manner that makes sense..." Breathing that I have no confidence in that the American consumer will take advantage of.
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