dcoyne78 wrote:http://belfercenter.ksg.harvard.edu/publication/23191/shale_oil_boom.html
He expects US total liquids to be 15.9 MMb/d at year end 2017 and oil prices will fall to 65 dollars per barrel and remain there long term,
DC
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
dcoyne78 wrote:Does that seem realistic to anyone in the industry?
DC
Ron Patterson wrote:As of May there were 5,730 wells in the Bakken. Most of the drillers are now engaged in what they call "downspacing". That is they have run out of new places to drill so they are drilling in between wells already drilled. They are downspacing the distance between wells... because they must do that if they are going to drill any more wells. And you have them going to 60,000 wells! Man, that is going to be a lot of downspacing. They will be drilling between the wells already drilled then drilling between those wells, then drilling between those wells, then...
Oily Stuff wrote:I think short of knocking a few days off of drilling time, due mostly to skidding rigs 30 feet from well to well to accommodate the new vogue tight oil term called "downspacing," drilling costs are not going down, they will be going up.
John A wrote:
And it should be noted that your 5730 number probably doesn't include the Three Forks, seems a bit low to have both in that number. Last at the beginning of the year the Three Forks wells totaled almost 1000 all by themselves.
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