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Dec 30th, 2023
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 Re: New oil wells in the Permian Basin
[Re: Dognot]
#12610282
02/04/18 08:43 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 |
I remember years ago watching a business show that had an oil business expert on. He said that $65 a barrel translates to about $2.50 at the pump. He said that's a good number for both the oil business and the fuel consumer. Sounds right to me.
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]
#12611434
02/05/18 02:00 PM
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Joined: Jan 2005
Posts: 21,800
Pat Goff
TFF Guru
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TFF Guru
Joined: Jan 2005
Posts: 21,800 |
If it would just stay there a while, problem has been it never has. That dang ol' supply and demand rule comes into play, and as the economy starts to really heat up, they'll be punching holes everywhere when it goes to $90 again, and they'll flood the market and it'll bust back to $40
Endless cycle.
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]
#12611950
02/05/18 06:42 PM
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Joined: Dec 2004
Posts: 560
fisherinok
Pro Angler
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Pro Angler
Joined: Dec 2004
Posts: 560 |
They can plan for those wells but eventually they are going to have to be serviced and frac'ed and the costs for those services is going to go up. Oil companies may make money at $40/$50 dollars but everyone else isn't. As the prices of services and labor starts going up plans will be reformulated. With that being said bring on $70/$75 oil but it may take another couple of months to get there.
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12611981
02/05/18 06:56 PM
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Joined: May 2010
Posts: 1,423
buton
Extreme Angler
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Extreme Angler
Joined: May 2010
Posts: 1,423 |
Do you know what type of artificial lift system is used in Midland/Odessa or the most common?
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Re: New oil wells in the Permian Basin
[Re: buton]
#12612034
02/05/18 07:23 PM
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Joined: Aug 2006
Posts: 19,790
COFF
TFF Guru
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TFF Guru
Joined: Aug 2006
Posts: 19,790 |
Do you know what type of artificial lift system is used in Midland/Odessa or the most common? Most common historically would definitely be rod pump. The for new work, ESP and gas lift seem to be the popular choices.
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12612072
02/05/18 07:41 PM
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Joined: Jun 2005
Posts: 23,930
Nocona Brian
TFF Guru
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TFF Guru
Joined: Jun 2005
Posts: 23,930 |
My BIL was telling me this past weekend, Carlsbad, is where it's at. I believe it was Chevron he said, was about to move 2,500 families from Houston out there. 
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Re: New oil wells in the Permian Basin
[Re: RedRanger]
#12612109
02/05/18 07:57 PM
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Joined: Apr 2007
Posts: 3,280
I'm The Dude
TFF Team Angler
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TFF Team Angler
Joined: Apr 2007
Posts: 3,280 |
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? Yes.
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12612114
02/05/18 07:59 PM
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Joined: Aug 2009
Posts: 11,567
9094
TFF Guru
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TFF Guru
Joined: Aug 2009
Posts: 11,567 |
 Here a google maps view of the north side of Midland. Each white dot is a well location. this view is in 2014 Every 330 foot!
Retirement best job ever.
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12612115
02/05/18 07:59 PM
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Joined: Apr 2007
Posts: 3,280
I'm The Dude
TFF Team Angler
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TFF Team Angler
Joined: Apr 2007
Posts: 3,280 |
Keep in mind there are also a lot of DUC's out there, (Drilled Un-Completed). They were drilled and cased, but never frac'd, typically drilled to hold lease acreage. Lot's of major's are not drilling as many wells this year, but will complete more.
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12612155
02/05/18 08:18 PM
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Joined: Jun 2008
Posts: 11,404
Bass&More
TFF Guru
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TFF Guru
Joined: Jun 2008
Posts: 11,404 |
Frac on, we built and shipped 80 2500 horsepower frac pumps and 180 QWS fluid ends for spares, all headed to the Permian. The year of 2018 looks to be promising  
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12612737
02/06/18 02:24 AM
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Joined: Nov 2011
Posts: 548
Gunzel
Pro Angler
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Pro Angler
Joined: Nov 2011
Posts: 548 |
Word on the street is SENM is gonna bust wide open with all the new production. Technology amazes me that they can still find new oil and gas in fields that are nearing 100 years old.Im sure glad I got a chance to transfer, Im praying for a good 7-8 year boom and then Im gonna step off and get as far away from the oilfield as possible.,
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Re: New oil wells in the Permian Basin
[Re: Dognot]
#12612751
02/06/18 02:33 AM
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Joined: Jan 2005
Posts: 21,800
Pat Goff
TFF Guru
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TFF Guru
Joined: Jan 2005
Posts: 21,800 |
You know its busy times when wal mart in Hobbs quits giving drug tests.
Pat Goff Seadrift TX
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Re: New oil wells in the Permian Basin
[Re: Pat Goff]
#12612767
02/06/18 02:42 AM
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Joined: Jan 2010
Posts: 7,621
Dognot
OP
TFF Celebrity
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OP
TFF Celebrity
Joined: Jan 2010
Posts: 7,621 |
You know it’s busy times when wal mart in Hobbs quits giving drug tests. I was in Pecos Today ,They have a banner on the fence at Sonic that says Help wanted starting at $14 an hour.With a $400 sign on bonus. I doubt they drug test either.
The only thing worse than a porta potty in the wintertime is a porta potty in the summertime.
You can’t stop the man from learning the hard way or he will continue to be stupid. It’s just the way it has to be......Mudshark
The Lion and Tiger may be king of the jungle. But the wolf doesn't perform in the circus.....UGLYSHCTICK
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Re: New oil wells in the Permian Basin
[Re: Pat Goff]
#12612835
02/06/18 03:18 AM
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Joined: Mar 2015
Posts: 5,429
TCK73
TFF Celebrity
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TFF Celebrity
Joined: Mar 2015
Posts: 5,429 |
You know its busy times when wal mart in Hobbs quits giving drug tests. The things you see in that Wal Mart are like no other.
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Re: New oil wells in the Permian Basin
[Re: Allison1]
#12612852
02/06/18 03:26 AM
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Joined: Aug 2015
Posts: 3,987
Pintail711
TFF Team Angler
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TFF Team Angler
Joined: Aug 2015
Posts: 3,987 |
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.
Frac rigs dont drill. You have frac crews and drilling rigs. 2 totally different operations.
Last edited by Pintail711; 02/06/18 03:28 AM.
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