ROCKMAN wrote: For those that don't know even when a biggie like ExxonMobil wants to lease 10,000 acres from 300 different landowners their land dept will contract with a lease brokerage to put their boots on the ground to get those leases negotiated. You won't see it in the MSM but hundreds of independent landmen have been put on notice: the end is here. It takes a while to slow down drilling activity. But leasing drilling rights? A $20 million leasing budget can be immediately cut to $zero in a one hour meeting. I've seen such many times in the last 4 decades.
BHP Billiton slashes shale drilling amid oil crash
BHP said it would pare the number of drilling rigs it is using to 16 from 26 by June 2015 and would update the market on its revised shale drilling budget, originally set at $4 billion for this financial year, in February.
It plans to focus on drilling in the liquids-rich Black Hawk basin, while cutting back in the Permian and Hawkville acreage.
"BHP's announcement to cut the rig count by 10 down to 16 is roughly in line with general expectations given the precipitous fall in oil and natgas prices as well,"
toolpush wrote:http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NTY2NzA4fENoaWxkSUQ9MjY3MDU0fFR5cGU9MQ==&t=1
Baker Hughes rig count
US down 74, mainly Texas down 44
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.
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