Page 14 of 21

Re: Is EROEI Important Pt. 5

Unread postPosted: Wed 08 May 2019, 11:17:33
by coffeeguyzz
Greetings, Adam.
Hope all is going well with you.

Just to briefly pass on some recent developments - operations wise - in the upstream portion of this Shale Revolution ...
Extreme Limited Entry is the latest buzz phrase describing the maintenance of 1,500/2,000 psi fluid pressure from the wellbore face out the the expanding fracture tip. This high pressure greatly expands the area of fracture stimulation within which the massive amounts of small (micro proppant up to 100 mesh) proppant can enter, scour, and prop heretofore inaccessible rock.
This process is accomplished by cyclical pump rates, micro seismic monitoring, and the timely use of various diverters. These tools also enable HIGH control of the frac geometry.

The primary hydrocarbon recovery rate is now approaching 20%.
Articles from aogrdotcom from Oasis as well as the innovative Liberty Resources describe this in more detail.

The investor presentation from Whiting this week contained - for only the second time ever, to my eye - acknowledgement of the so called 'halo effect' that Bruce Oksol has been writing about for years.

Whiting's suits describe it as 'parent well uplift' and the conference call transcript has several mentions as the analysts seemed pretty surprised by it all.

Bottom line, hydrocarbon abundance will be had for quite some time.
People who say otherwise will continue to display their ignorance to a shrinking, increasingly blinded cohort of Disbelievers.

Re: Is EROEI Important Pt. 5

Unread postPosted: Wed 08 May 2019, 11:29:23
by dirtyharry
coffeeguyzz wrote:Greetings, Adam.
Hope all is going well with you.

Just to briefly pass on some recent developments - operations wise - in the upstream portion of this Shale Revolution ...
Extreme Limited Entry is the latest buzz phrase describing the maintenance of 1,500/2,000 psi fluid pressure from the wellbore face out the the expanding fracture tip. This high pressure greatly expands the area of fracture stimulation within which the massive amounts of small (micro proppant up to 100 mesh) proppant can enter, scour, and prop heretofore inaccessible rock.
This process is accomplished by cyclical pump rates, micro seismic monitoring, and the timely use of various diverters. These tools also enable HIGH control of the frac geometry.

The primary hydrocarbon recovery rate is now approaching 20%.
Articles from aogrdotcom from Oasis as well as the innovative Liberty Resources describe this in more detail.

The investor presentation from Whiting this week contained - for only the second time ever, to my eye - acknowledgement of the so called 'halo effect' that Bruce Oksol has been writing about for years.

Whiting's suits describe it as 'parent well uplift' and the conference call transcript has several mentions as the analysts seemed pretty surprised by it all.

Bottom line, hydrocarbon abundance will be had for quite some time.
People who say otherwise will continue to display their ignorance to a shrinking, increasingly blinded cohort of Disbelievers.

And as usual no talk as to what the cost is for all this . We will loose money, but no problem we will make it up in volume . Let us go mining for gold in the sea and look for rare earth metals in asteroids . As Gump said ^Stupid is what stupid does ^ .

Re: Is EROEI Important Pt. 5

Unread postPosted: Wed 08 May 2019, 13:58:11
by rockdoc123
And as usual no talk as to what the cost is for all this . We will loose money, but no problem we will make it up in volume . Let us go mining for gold in the sea and look for rare earth metals in asteroids . As Gump said ^Stupid is what stupid does ^ .


I'll bet Forest Gump knew how to spell "lose" though. :roll:

That aside please show us your calculations as to how the extra cost of this completion technique isn't offset by greater volume and greater recovery. Currently, wells in the Permian are costing around $7 MM drilled and completed and the completion piece makes up just less than half of that cost. If this completion technique increased completion costs by 20% (which is probably over the top) that would be an extra $600 K of costs per well. At current prices and assuming a netback somewhere in the $30 range that amounts to an extra 20,000 bbls of EUR. Given the average EUR has been increasing and is now somewhere close to 400 K bbls that is an increase of 5%.....something that is not out of the question. Another way of looking at it is a new completion would only have to result in an extra 150 bbls/d of production over the first 4.5 months to pay out. This sort of increase in IP and first 6 months production has been happening regularly over the past few years as technology and efficiencies improve.

Re: Is EROEI Important Pt. 5

Unread postPosted: Wed 08 May 2019, 17:19:49
by coffeeguyzz
The additional cost for the parent well uplift is essentially zero as nothing is being done other than for some - (all?) - operators to pump water into the wellbore and pressurize to minimize intrusion from the offsets.

There is some increase in proppant cost for the new wells but this extra material is going to prop a gazillion new, ultra tiny cracks from which oil will slowly flow into the wellbore for decades.

A big upside - costwise - that Liberty is focusing on is reducing the stage count (big savings there) while increasing the perf clusters.
A goal is to identify and segregate the rock into somewhat homogeneous stages vis a vis frac pressure breakdown. This enables a somewhat uniform degree of pressure with which to extend the frac half lengths up to the desired spot.
Along the way, effectively employing diverters, the Stimulated Reservoir Volume (SRV) is rubbilized to an extensive degree.

If anyone does not recognize the favorable economics of +$60 WTI, they may as well stick with Steve, Rune, Mr. Short and the rest of the Know Nothings who, bizarrely, seem to never go away.

Re: Is EROEI Important Pt. 5

Unread postPosted: Thu 09 May 2019, 01:08:27
by Yoshua
Mr. Short is trying to explain that energy and economy are tied to together...even to you know it all men.

https://pbs.twimg.com/media/D6FPf5ZXoAA ... me=900x900

Re: Is EROEI Important Pt. 5

Unread postPosted: Thu 09 May 2019, 04:05:01
by eclipse
Yoshua wrote:Mr. Short is trying to explain that energy and economy are tied to together...even to you know it all men.

https://pbs.twimg.com/media/D6FPf5ZXoAA ... me=900x900


I wonder how the 1970's Mesmer plan would show up on that graph? They were building 15 nuclear power plants a year at one point, and replaced 75% of their grid with clean nuclear within 15 years. (63% of that in just 10 years!) Or a massive shift into EV's / public transport & New Urbanism / other clean tech? What would that look like? Which is causal? Everything I read about the GFC was that because the economy imploded due to the Big Short, demand for travel decreased. It's interesting that oil demand dropped a full QUARTER and America did not go Mad Max. Imagine that? ;-)

Re: Is EROEI Important Pt. 5

Unread postPosted: Thu 09 May 2019, 10:53:30
by AdamB
Yoshua wrote:Mr. Short is trying to explain that energy and economy are tied to together...even to you know it all men.

https://pbs.twimg.com/media/D6FPf5ZXoAA ... me=900x900


No one argues that energy and economy are tied together. Reality, precedent, data, logic and industry practice proves that Short doesn't know anything about that reality, precedent, data, logic and industry practice as it relates to energy and the economy.

Re: Is EROEI Important Pt. 5

Unread postPosted: Thu 09 May 2019, 11:07:26
by StarvingLion
The Northern Ghwar Status Indicator, Boeing Stock, is totally collapsing. Imports from KSA have reached all time lows.

Concorde: Broke
Space Shuttle: Broke
Boeing: Going Broke

Conclusion: Grow feathers...be a Birdman.

Re: Is EROEI Important Pt. 5

Unread postPosted: Thu 09 May 2019, 11:14:48
by StarvingLion
coffeeguise: "Look at all the No Diesel Fuel"
coffeeguise: "Look at all the hydrocarbons we are selling for peanuts"
coffeeguise: "Look at the stock CNX I used to promote that has been tanking in the past 6 months"
coffeeguise: "Look at the 0.50 cent penny stocks turning into 0.01 literal penny stocks"

Doomed.

Re: Is EROEI Important Pt. 5

Unread postPosted: Thu 09 May 2019, 14:34:12
by coffeeguyzz
And for the adults in the room, I will direct your attention to an arena that seems to be poised to be every bit as disruptive, every bit as 'coming out of nowhere' as this past decade's history of LTO ... namely, the emergence of natgas in displacing its hydrocarbon cousin, awl.

That natgas is pushing competitors - particularly coal and nuclear - out of the power generation market is widely recognized.

Seemingly under the radar, transportation applications are in the early stages of favoring natgas (in CNG or LNG form) as stunningly rapid advances are being implemented up and down the chain of handling, storing, transporting.

The decision by Cheniere to scrap original plans for traditional, massive trains for their Stage 3 operation in Corpus Christi in favor of 7 mid scale units should be a wake up call to future trends in liquefaction.

The FSRUs that are rapidly being placed in Bangledesh, Brazil, Turkey, Pakistan, to name just a few places, are a game changing mechanism to spread natgas use globally.
Heck, even Australia is setting up an FSRU in Port Kembla next year that may import LNG from the USA if economics are favorable.

The downsized, modular storage and transportation containers are approaching propane-like status, enabling places like Fairbanks to use this inexpensive fuel.

Vehicular transportation will be the ultimate frontier for natgas and the innovations in the field of Metal Organic Frameworks ensures that fueling a vehicle right in one's driveway with residential supplied natgas is just around the corner.

Re: Is EROEI Important Pt. 5

Unread postPosted: Thu 09 May 2019, 17:45:20
by asg70
rockdoc123 wrote:I'll bet Forest Gump knew how to spell "lose" though. :roll:


Yep.

Seems like anytime someone here tries to tell another poster he's dumb, he commits a stupid grammatical or spelling error in the process. Every...single...time.

Re: Is EROEI Important Pt. 5

Unread postPosted: Thu 09 May 2019, 17:51:45
by asg70
coffeeguyzz wrote:Vehicular transportation will be the ultimate frontier for natgas and the innovations in the field of Metal Organic Frameworks ensures that fueling a vehicle right in one's driveway with residential supplied natgas is just around the corner.


I think if we weren't on the cusp of the EV wave then CNG might become a viable fuel for personal transportation post-peak given a continued supply of fracked gas and a dwindling supply of oil but I don't see it being more than a bit player going forward. For buses and long haul trucking, maybe, but not personal autos.

Re: Is EROEI Important Pt. 5

Unread postPosted: Thu 09 May 2019, 18:17:55
by onlooker
asg70 wrote:
rockdoc123 wrote:I'll bet Forest Gump knew how to spell "lose" though. :roll:


Yep.

Seems like anytime someone here tries to tell another poster he's dumb, he commits a stupid grammatical or spelling error in the process. Every...single...time.

As though grammar and spelling were a huge indicator of Intelligence. :razz:

Re: Is EROEI Important Pt. 5

Unread postPosted: Thu 09 May 2019, 18:43:53
by asg70
onlooker wrote:As though grammar and spelling were a huge indicator of Intelligence.


They are. Remember GW Bush and his continued use of "nukyooler"? how about Trump and his covfefe and "bigly"? If you can't see a connection between how you write and how smart you are then you're really, um, not that smart.

Re: Is EROEI Important Pt. 5

Unread postPosted: Thu 09 May 2019, 20:07:59
by coffeeguyzz
Asg
With the capabilities of adsorption (with a "d", not "b") approaching liquid status in that a natgas fuel tank is equivalent to a 17 gallon gasoline tank, the competition might be closer than one would think.

Cutting edge MOFs the size of a large pea now have internal surface area of 2 football fields (10,000 square yards).
Every pore of surface can hold methane.

Having said that, the advances of electric vehicles powered by hydrogen fuel cells are also unfolding at an astonishing pace.
(Nikola Motor is offering 1 million miles free fuel with their Class 8 trucks to be introduced to the market shortly).

Whatever the future brings, I believe the concerns surrounding oil scarcity will prove to be grossly unfounded.

Re: Is EROEI Important Pt. 5

Unread postPosted: Fri 10 May 2019, 06:31:37
by asg70
coffeeguyzz wrote:Having said that, the advances of electric vehicles powered by hydrogen fuel cells


Wow, you really are into underdogs aren't you?

Re: Is EROEI Important Pt. 5

Unread postPosted: Fri 10 May 2019, 07:05:09
by Yonnipun
asg70 wrote:
onlooker wrote:As though grammar and spelling were a huge indicator of Intelligence.


They are. Remember GW Bush and his continued use of "nukyooler"? how about Trump and his covfefe and "bigly"? If you can't see a connection between how you write and how smart you are then you're really, um, not that smart.


Double digit almost retarded Iq speaking here. In my native language I am very good at spelling and grammar. But my math and spatial abilities are like I said almost retarded. I also think that some very intelligent men are deliberately toning their intelligence down to appeal to masses.

Re: Is EROEI Important Pt. 5

Unread postPosted: Fri 10 May 2019, 09:09:37
by Tanada
asg70 wrote:
onlooker wrote:As though grammar and spelling were a huge indicator of Intelligence.


They are. Remember GW Bush and his continued use of "nukyooler"? how about Trump and his covfefe and "bigly"? If you can't see a connection between how you write and how smart you are then you're really, um, not that smart.


By those standards anyone who speaks with an accent or uses different word choices than you choose to use would be defined as suffering from a lower IQ than yourself. I find that a very self serving definition.

Re: Is EROEI Important Pt. 5

Unread postPosted: Fri 10 May 2019, 10:27:30
by AdamB
StarvingLion wrote:The Northern Ghwar Status Indicator, Boeing Stock, is totally collapsing. Imports from KSA have reached all time lows.

Concorde: Broke
Space Shuttle: Broke
Boeing: Going Broke

Conclusion: Grow feathers...be a Birdman.


And money isn't worth anything...right Starving? Amazing that when I gave the folks at the convenience store 2 $1 bills yesterday they gave me that candy bar I wanted!

Re: Is EROEI Important Pt. 5

Unread postPosted: Fri 10 May 2019, 10:30:55
by AdamB
onlooker wrote:
asg70 wrote:
rockdoc123 wrote:I'll bet Forest Gump knew how to spell "lose" though. :roll:


Yep.

Seems like anytime someone here tries to tell another poster he's dumb, he commits a stupid grammatical or spelling error in the process. Every...single...time.

As though grammar and spelling were a huge indicator of Intelligence. :razz:


Why should it be for communicating via writing when not knowing anything about geology, economics or oil field practice isn't required for folks to proclaim peak oil doom? Over..and over...and over again?