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Re: Obama bans all Arctic drilling

Unread postPosted: Fri 17 Mar 2017, 14:46:32
by ROCKMAN
pstarr - It would appear the Norwegians see matters different then you. From last month:

"Explorers look set to drill a record number of wells in Norway’s Arctic waters this year, undeterred by oil prices apparently stuck below US$60 a barrel. After making a discovery of as much as 100 million barrels of oil in the Barents Sea, Lundin Petroleum AB said on Monday that it wants to squeeze two more exploration wells into its program this year, even if it means hiring an additional rig. That could push the total number of wells in the area to 16, two more than the record in 2014. The Norwegian Barents may contain as much as half the country’s unexplored resources, according to the NPD. Yet with crude still trading at half the highs it reached in 2014, the record drilling campaign sounds counter-intuitive'.

What you have to remember that while the absolute costs seem huge all that matters is the cost per bbl. And in such areas the reserve sizes are so much bigger then in areas with cheaper drilling that companies will be drawn to them.

Re: Obama bans all Arctic drilling

Unread postPosted: Fri 17 Mar 2017, 14:48:28
by Tanada
ROCKMAN wrote:Easy to be in favor of doing anything if you don't actually have to do it yourself. LOL


That ranks right up there with
It is hard to get a man to see the truth when his livelihood depends on not seeing it.


Politicians rarely pass laws they themselves are forced to comply with. They are a 'special class' who live under 'special rules', don't take my word for it just look at how they act :twisted:

Re: Obama bans all Arctic drilling

Unread postPosted: Fri 17 Mar 2017, 15:11:18
by pstarr
RM. 100 million barrels. Shell walked away from 20 billion barrels.

Anyway calling The Norwegian Sea 'arctic' waters is kind of stretching things a bit. Don't they grow bananas there? And lutfisk.

Re: Obama bans all Arctic drilling

Unread postPosted: Fri 17 Mar 2017, 15:22:47
by KaiserJeep
pstarr wrote:RM. 100 million barrels. Shell walked away from 20 billion barrels.

Anyway calling The Norwegian Sea 'arctic' waters is kind of stretching things a bit. Don't they grow bananas there? And lutfisk.


Lutefisk isn't grown. It is a "delicacy" produced by soaking dried fish in old women's urine, until putrefaction is complete and results in something that splits the difference between soap and gelatin.

Green uncured olives and lutefisk are two things that if you taste them just once, you will NEVER FORGET or be tempted to sample them ever again.

I don't know about bananas, but sometimes in California, one can buy bell peppers in a rainbow of colors, which are imported from Norway and Iceland. They use greenhouses heated by geothermal hot springs, and take advantage of the constant daylight to produce a crop in record short growing periods.

Re: Obama bans all Arctic drilling

Unread postPosted: Fri 17 Mar 2017, 16:39:40
by pstarr
KaiserJeep wrote:
pstarr wrote:RM. 100 million barrels. Shell walked away from 20 billion barrels.

Anyway calling The Norwegian Sea 'arctic' waters is kind of stretching things a bit. Don't they grow bananas there? And lutfisk.


Lutefisk isn't grown. It is a "delicacy" produced by soaking dried fish in old women's urine, until putrefaction is complete and results in something that splits the difference between soap and gelatin.
gelatin? I think of it as expectorant. Or gizim

Re: Obama bans all Arctic drilling

Unread postPosted: Fri 17 Mar 2017, 19:20:05
by ROCKMAN
Starman - "Anyway calling The Norwegian Sea 'arctic' waters is kind of stretching things a bit." You do understand that the Arctic Circle line on the map is imaginary, right? It's not an actual barrier. LOL. The Arctic Ocean, from a physical standpoint, extends from the North Pole to the shoreline of every country that borders the Arctic. Geologically, which counts more, the entire region is the Arctic Basin. The rocks don't give a sh*t about those lines on a map anymore then the Rockman does. LOL.

And Shell did not walk away from 20 billion bbls...they walked away from a very expense opportunity to find 20 billion bbls of oil. And opportunity to discover he billions of bbls of oil Devon was hoping to find in the last Deep Water Brazil well I worked with them. A $154 MILLION well that didn't find 1 bbl of oil.

Re: Obama bans all Arctic drilling

Unread postPosted: Sun 19 Mar 2017, 14:55:31
by wildbourgman
Shell spent billions for the right to drill and then went cheap with some sort of clown show once they started the operation. Lobbyist now that they can afford, but a drilling operations management and state of the art drilling rigs when everyone is watching not so much. In other parts of the world Shell would have never allowed things to get away from them as those operations seemed to do.

Although, I hear that since the BG purchase they are cutting some other operations much further than is prudent. We'll see!

Re: Obama bans all Arctic drilling

Unread postPosted: Sun 19 Mar 2017, 18:39:50
by ROCKMAN
Wildman - Not sure how surprised you were by Shell's poor performance but I was truly shocked. I wonder if the fact that the top dog (an explorationist) was replaced by a refinery/financial guy. You've probably heard it before: death by bean counter. LOL

Re: Obama bans all Arctic drilling

Unread postPosted: Mon 20 Mar 2017, 10:32:08
by wildbourgman
My attitude was that if anyone could do it right in Alaska it would be Shell, yes I was truly shocked.

Now with the way Shell is operating now, it's not pretty.