copious.abundance wrote:Translation: P-the-starr cannot devise a refutation of the contents of the first link in my sig, plus it defies what doomer-types have been led to believe, so in a defensive mechanism to hold on to his doomer/peaker worldview, he simply rejects it out-of-hand.
Pops wrote:But the fact is, primary energy consumption per capita continues to rise...
(Reuters) - New efficient drilling practices may drive breakeven rates in the best areas of the Bakken shale oil play as low as $58 per barrel, Wood Mackenzie said on Tuesday, far lower than the traditional $70 per barrel figure frequently touted by analysts.
The fast adoption of multi-well pad drilling, or the ability to drill several wells from one location, should reduce the average cost per well to $7.5 million on average in 2014, allowing companies to make more off each barrel of oil, Wood Mackenzie analyst Jonathan Garret said.
"The major driver of (well cost) reduction has to do with the number of wells drilled from pads," Garret said. "You're now drilling 3, 4, 12, even 16 wells from a single pad."
This year, more than 90 percent of wells drilled in the Bakken will be drilled from multi-well pads, Garret said. Multi-well pad drilling is more efficient by reducing the amount of time it takes to drill each well as well as the equipment used.
WILLISTON, N.D., Sept 18 (Reuters) - Some of North Dakota's oil companies likely will experience a production dip starting next month as they try to meet aggressive new flaring standards, Governor Jack Dalrymple said on Thursday.
Flaring, the wasteful burning of natural gas that is extracted alongside crude, has become a widespread problem in the state, the nation's second-largest oil producer.
In an effort to curb the problem, which harms quality of life and reduces tax revenue, state regulators will require companies to flare no more than 26 percent of produced gas starting Oct. 1, with standards tightening in the future.
If producers fail to meet the standards, they will have to curb production.
"A lot of people were surprised we took that step because there are going to be some operators impacted by this," Dalrymple, a Republican, said in a speech to the North Dakota Association of Oil and Gas Producing Counties. "We are very committed to reducing the flaring of natural gas."
copious.abundance wrote:If this turns out to be true, no doubt some doomers will get all excited. But of course it won't be for the reason they've been expecting.
North Dakota Governor Sees Oil Production Dip From Flaring Rule ChangeWILLISTON, N.D., Sept 18 (Reuters) - Some of North Dakota's oil companies likely will experience a production dip starting next month as they try to meet aggressive new flaring standards, Governor Jack Dalrymple said on Thursday.
Flaring, the wasteful burning of natural gas that is extracted alongside crude, has become a widespread problem in the state, the nation's second-largest oil producer.
In an effort to curb the problem, which harms quality of life and reduces tax revenue, state regulators will require companies to flare no more than 26 percent of produced gas starting Oct. 1, with standards tightening in the future.
If producers fail to meet the standards, they will have to curb production.
"A lot of people were surprised we took that step because there are going to be some operators impacted by this," Dalrymple, a Republican, said in a speech to the North Dakota Association of Oil and Gas Producing Counties. "We are very committed to reducing the flaring of natural gas."
copious.abundance wrote:Bakken crude breakeven prices as low as $58/bbl in 2014 -report
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