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Dec 30th, 2023
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 New oil wells in the Permian Basin
#12609984
02/04/18 04:59 PM
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Joined: Jan 2010
Posts: 6,734
Dognot
OP
TFF Celebrity
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OP
TFF Celebrity
Joined: Jan 2010
Posts: 6,734 |
Local News reported that 110,000 NEW well will be drilled in the Permian Basin in the next few years. I don't know where they are gonna put them. http://www.cbs7.com/content/news/110000-new-wells-coming-to-the-Permian-Basin-470809733.html
Sometimes what didn't work out for you, did in fact, work out for you.
Haters going to hate and believers are going to believe.
Every man has two lives,The second one starts when he realizes that he has only one.
“Hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times.”
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12609987
02/04/18 05:04 PM
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Joined: Jan 2005
Posts: 17,134
Pat Goff
TFF Guru
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TFF Guru
Joined: Jan 2005
Posts: 17,134 |
That's a lot of acres....they'll figure it out.
La Quinta in Odessa is already $300 a night, wonder what it'll go to now?
Pat Goff Seadrift TX ![[Linked Image]](https://i.ibb.co/X48Kbbq/scooter-shallow.jpg)
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12610000
02/04/18 05:17 PM
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Joined: Oct 2006
Posts: 95,669
Bigbob_FTW
Big Sprocket Bob
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Big Sprocket Bob
Joined: Oct 2006
Posts: 95,669 |
![[Linked Image]](https://texasfishingforum.com/forums/pics/usergals/2017/07/full-20284-169975-biyl8lail.jpg) ![[Linked Image]](https://texasfishingforum.com/forums/pics/usergals/2017/07/full-20284-169974-image_preview.jpg) FJB
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Re: New oil wells in the Permian Basin
[Re: Pat Goff]
#12610013
02/04/18 05:31 PM
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Joined: Mar 2003
Posts: 13,618
SteveHummert
pawpaw
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pawpaw
Joined: Mar 2003
Posts: 13,618 |
That's a lot of acres....they'll figure it out.
La Quinta in Odessa is already $300 a night, wonder what it'll go to now?
That is insane!
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12610025
02/04/18 05:38 PM
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Joined: Jan 2005
Posts: 17,134
Pat Goff
TFF Guru
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TFF Guru
Joined: Jan 2005
Posts: 17,134 |
I enjoy working in the permian when it's just *busy* Nicest people in the world.
When it gets crazy, it's not much fun, traffic gets weird, immigrant pilgrims are just stupid, and you have to wait in line to get fed everywhere. Blah....
Pat Goff Seadrift TX
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12610040
02/04/18 05:51 PM
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Joined: Sep 2003
Posts: 18,070
Icepick
TFF Guru
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TFF Guru
Joined: Sep 2003
Posts: 18,070 |
Oil was at $65 a barrel Friday. About $20 higher than 6 months ago. Drill baby drill.
This thread needs more cowbell ... ![[Linked Image]](http://gryphonfootball.files.wordpress.com/2012/06/th_more_cowbell.gif)
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12610049
02/04/18 05:58 PM
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Joined: Dec 2003
Posts: 36,592
Allison1
TFF Guru
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TFF Guru
Joined: Dec 2003
Posts: 36,592 |
How many rigs would be required to drill 110,000 holes in the next 4 years? The numbers either indicate a huge record number of rigs or a wild prediction. How long does it take a frac rig to drill and move to a new site? If they only grew to the record number in 2014 each rig would have to drill 73 wells in the next 48 months or 4 years assuming few meant 2 to 4 years.
Time to invest in companies involved in the permian basin.
I would think a builder could make a mint out there too.
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12610052
02/04/18 06:00 PM
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Joined: Dec 2012
Posts: 22,582
lconn4
TFF Guru
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TFF Guru
Joined: Dec 2012
Posts: 22,582 |
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12610053
02/04/18 06:02 PM
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Joined: Jan 2005
Posts: 17,134
Pat Goff
TFF Guru
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TFF Guru
Joined: Jan 2005
Posts: 17,134 |
Most of the rigs working the Garden City and Pecos areas are drilling zipper wells, five directional holes going in different directions. Drilling rig will be there for five months drilling the holes.
Frac crew moves in, on a zipper job, they'll be on location 30-40 days, depending on if everything works as planned.
So, "really" there's five wells at each site, so that's going to skew some math.
Most of my Frac customers are booked solid for the next two years. They're going to have to bring in a lot more equipment to reach those numbers.
Pat Goff Seadrift TX
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12610062
02/04/18 06:14 PM
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Joined: Sep 2003
Posts: 18,070
Icepick
TFF Guru
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TFF Guru
Joined: Sep 2003
Posts: 18,070 |
Pat, you said frac customers. What service do you provide?
This thread needs more cowbell ...
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12610072
02/04/18 06:25 PM
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Joined: Jan 2008
Posts: 41,939
Ghost4BH
TFF Guru
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TFF Guru
Joined: Jan 2008
Posts: 41,939 |
A lot of these new permits will be on old/existing sites. Were busy as a one armed paper hanger right now. There has been some decent asset acquisitions in East Texas too.
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Re: New oil wells in the Permian Basin
[Re: Allison1]
#12610074
02/04/18 06:27 PM
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Joined: Mar 2015
Posts: 5,413
TCK73
TFF Celebrity
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TFF Celebrity
Joined: Mar 2015
Posts: 5,413 |
How many rigs would be required to drill 110,000 holes in the next 4 years? The numbers either indicate a huge record number of rigs or a wild prediction. How long does it take a frac rig to drill and move to a new site? If they only grew to the record number in 2014 each rig would have to drill 73 wells in the next 48 months or 4 years assuming few meant 2 to 4 years.
Time to invest in companies involved in the permian basin.
I would think a builder could make a mint out there too.
Wild prediction.
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Re: New oil wells in the Permian Basin
[Re: Icepick]
#12610082
02/04/18 06:32 PM
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Joined: Jan 2005
Posts: 17,134
Pat Goff
TFF Guru
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TFF Guru
Joined: Jan 2005
Posts: 17,134 |
Fuel systems   We help users fly past the states dyed fuel regulations.
Pat Goff Seadrift TX
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12610099
02/04/18 06:47 PM
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Joined: Jan 2010
Posts: 6,734
Dognot
OP
TFF Celebrity
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OP
TFF Celebrity
Joined: Jan 2010
Posts: 6,734 |
 Here a google maps view of the north side of Midland. Each white dot is a well location. this view is in 2014
Sometimes what didn't work out for you, did in fact, work out for you.
Haters going to hate and believers are going to believe.
Every man has two lives,The second one starts when he realizes that he has only one.
“Hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times.”
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Re: New oil wells in the Permian Basin
[Re: Pat Goff]
#12610109
02/04/18 06:52 PM
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Joined: Aug 2003
Posts: 30,322
RedRanger
burro desagradable
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burro desagradable
Joined: Aug 2003
Posts: 30,322 |
That's a lot of acres....they'll figure it out.
La Quinta in Odessa is already $300 a night, wonder what it'll go to now?
Are houses sky high to buy and rent?
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