Largest Oil Scale Reserves BY FAR in the world!

[boedicca]

Watch out for the Obama EPA to find some lizard to use an excuse to shut this down.

 

[Trajan]

Watch out for the Obama EPA to find some lizard to use an excuse to shut this down.

between this, Brakken and getting the Keystone XL pipeline from Canada online we can take a huge bite of out the present ME Venezuelan imports.....

so yea, its time for a Wesley Mouch to put the kabash on it....

 

[LordBrownTrout]

I hope they don't put the kabosh on it. I'm down here working in the Eagle Ford formation, oil and natural gas, petrophysics/hydrology. We're drilling for natural gas.

 

[Polk]

Awesome if it pans out, but potential of shale has been oversold before.

 

[Mr. H.]

American jobs, American energy. What's not to like.


(wait for it....)

 

[freedombecki]

I hope they don't put the kabosh on it. I'm down here working in the Eagle Ford formation, oil and natural gas, petrophysics/hydrology. We're drilling for natural gas.

The best of good luck and job security at Eagle Ford, LordBrownTrout.

Technologies have a way of breaking through with good things yesterday's world didn't have.

 

[RGR]

Awesome if it pans out, but potential of shale has been oversold before.

and delivered before......

 

[Toro]

sounds like it has extraordinary potential. lets get'er done.

Hoss....



CATARINA, Tex. — Until last year, the 17-mile stretch of road between this forsaken South Texas village and the county seat of Carrizo Springs was a patchwork of derelict gasoline stations and rusting warehouses.


Now the region is in the hottest new oil play in the country, with giant oil terminals and sprawling RV parks replacing fields of mesquite. More than a dozen companies plan to drill up to 3,000 wells around here in the next 12 months.

snip-

There is only one catch: the oil from the Eagle Ford and similar fields of tightly packed rock can be extracted only by using hydraulic fracturing, a method that uses a high-pressure mix of water, sand and hazardous chemicals to blast through the rocks to release the oil inside.

snip-

Based on the industry’s plans, shale and other “tight rock” fields that now produce about half a million barrels of oil a day will produce up to three million barrels daily by 2020, according to IHS CERA, an energy research firm. Oil companies are investing an estimated $25 billion this year to drill 5,000 new oil wells in tight rock fields, according to Raoul LeBlanc, a senior director at PFC Energy, a consulting firm.

“This is very big and it’s coming on very fast,” said Daniel Yergin, the chairman of IHS CERA. “This is like adding another Venezuela or Kuwait by 2020, except these tight oil fields are in the United States.”

http://www.nytimes.com/2011/05/28/business/energy-environment/28shale.html?_r=1

Awesome.

Git 'er done!

 

[Polk]

Awesome if it pans out, but potential of shale has been oversold before.

and delivered before......

Everything I've even seen was along the lines of "shale will be commercial viable once oil hits x", oil hits x, and then turns out shale isn't commercial viable at that point. Shale production is definitely increasing, but it's often failed to increase at the rate advocates projected.

 

[Baruch Menachem]

I am all for any method that prevents money from going to the insane states of the world. The more we produce ourselves, the more secure we are.

 

[Trajan]

Awesome if it pans out, but potential of shale has been oversold before.

and delivered before......

Everything I've even seen was along the lines of "shale will be commercial viable once oil hits x", oil hits x, and then turns out shale isn't commercial viable at that point. Shale production is definitely increasing, but it's often failed to increase at the rate advocates projected.

Everything I've even seen was along the lines of "elect. cars will be viable now matter what X Oil hits, but oil drops x, and then it turns out electrical cars aren't commercially viable at that point. Elec. car battery capacity is increasing, but it's often failed to increase at the rate advocates projected.

 

[Polk]

and delivered before......

Everything I've even seen was along the lines of "shale will be commercial viable once oil hits x", oil hits x, and then turns out shale isn't commercial viable at that point. Shale production is definitely increasing, but it's often failed to increase at the rate advocates projected.

Everything I've even seen was along the lines of "elect. cars will be viable now matter what X Oil hits, but oil drops x, and then it turns out electrical cars aren't commercially viable at that point. Elec. car battery capacity is increasing, but it's often failed to increase at the rate advocates projected.

Actually, that's true as well...

 

[Big Fitz]

sounds like it has extraordinary potential. lets get'er done.

Hoss....



CATARINA, Tex. — Until last year, the 17-mile stretch of road between this forsaken South Texas village and the county seat of Carrizo Springs was a patchwork of derelict gasoline stations and rusting warehouses.


Now the region is in the hottest new oil play in the country, with giant oil terminals and sprawling RV parks replacing fields of mesquite. More than a dozen companies plan to drill up to 3,000 wells around here in the next 12 months.

snip-

There is only one catch: the oil from the Eagle Ford and similar fields of tightly packed rock can be extracted only by using hydraulic fracturing, a method that uses a high-pressure mix of water, sand and hazardous chemicals to blast through the rocks to release the oil inside.

snip-

Based on the industry’s plans, shale and other “tight rock” fields that now produce about half a million barrels of oil a day will produce up to three million barrels daily by 2020, according to IHS CERA, an energy research firm. Oil companies are investing an estimated $25 billion this year to drill 5,000 new oil wells in tight rock fields, according to Raoul LeBlanc, a senior director at PFC Energy, a consulting firm.

“This is very big and it’s coming on very fast,” said Daniel Yergin, the chairman of IHS CERA. “This is like adding another Venezuela or Kuwait by 2020, except these tight oil fields are in the United States.”

http://www.nytimes.com/2011/05/28/business/energy-environment/28shale.html?_r=1

I already started this thread 2 days ago.

But maybe now that Jersey Shore is over, some of the Peakers will comment on how this isn't oil or a boom, or a significant find.

 

[Big Fitz]

Watch out for the Obama EPA to find some lizard to use an excuse to shut this down.

between this, Brakken and getting the Keystone XL pipeline from Canada online we can take a huge bite of out the present ME Venezuelan imports.....

so yea, its time for a Wesley Mouch to put the kabash on it....

Beware, if this pipeline is the one going through MN, they ecofascists are already fighting to stop it and fighting hard while forcing counties to put 500 foot tall windmills up right next to farms and small communities.

watch the rate of epilepsy in those areas skyrocket.

 

[Big Fitz]

I am all for any method that prevents money from going to the insane states of the world. The more we produce ourselves, the more secure we are.

The more secure Israel gets to be too. A nice bonus.

 

[RGR]

Awesome if it pans out, but potential of shale has been oversold before.

and delivered before......

Everything I've even seen was along the lines of "shale will be commercial viable once oil hits x", oil hits x, and then turns out shale isn't commercial viable at that point. Shale production is definitely increasing, but it's often failed to increase at the rate advocates projected.

The Bakken shale oil play has managed to offset US production decline (and then some) over the past few years. While I am not convinced that the Eagleford has that kind of potential, it is certainly yet another step in the path of development of unconventional resources.

Shale gas has already demonstrated that it has the power to completely reverse the picture of natural gas supplies over no more than a few years on the scale of the largest consumer of natural gas in the world.

 

[RGR]

But maybe now that Jersey Shore is over, some of the Peakers will comment on how this isn't oil or a boom, or a significant find.

Are you really just trolling the peaker fools?

 

[Big Fitz]

But maybe now that Jersey Shore is over, some of the Peakers will comment on how this isn't oil or a boom, or a significant find.

Are you really just trolling the peaker fools?

usually I don't have to bump a thread for them to show up and tell us it's not oil, or it's not profitable enough to do anything. Or it'll destroy all life on the planet for a thousand miles around one fracking site. So this is odd to me.

 

[JiggsCasey]

But maybe now that Jersey Shore is over, some of the Peakers will comment on how this isn't oil or a boom, or a significant find.

Are you really just trolling the peaker fools?

usually I don't have to bump a thread for them to show up and tell us it's not oil, ((and it's not)) or it's not profitable enough to do anything ((and it's not)). Or it'll destroy all life on the planet for a thousand miles around one fracking site. ((which is it, 1000 miles, or the entire planet?)) So this is odd to me. ((a lot of things on this forum are "odd" to you))

When you're done awarding yourself a trophy, the simple explanation is just that some of us don't spend every waking hour on this goofy website like you do. We get to it when we are actually done with our holiday weekend, work, family, duties, etc., and there's STILL nothing better than internet pontification. ... Rest assured, if some of us saw your latest round of self-congratulatory, feel-good bloviation, we'd have responded sooner.

But, don't let that get in the way of projecting and attributing your favorite TV show onto us in order to rationalize to yourself why we aren't around. LOL

It's interesting that the resident shale oil salesman, RGR, offers only tepid support for this latest "silver bullet." But then, he's probably not a Chesapeake share holder, so where's the incentive?

RGR is right that unconventionals HAVE (to this point) helped offset existing conventional decline. And done so at enormous cost. He's not fooling anyone when he pretends $5+ gas is no big deal. That ploy doesn't carry water. He rationalizes that we'll "just use less" of it, forgetting of course, that this empire is BUILT on the requirement of perpetual gluttony and consumption. Unfettered capitalism can not survive on "conservation."

Nothing will support the edifice built upon cheap crude oil. There are no silver bullets in this race to the bottom.

So, yes, we will all "use less," there is no doubt about that, whether we like it or not. But to pretend life as we know it will continue on seamlessly as this age of growth slows to a crawl? You're just lying to yourself. You cons are finally gonna get your wish about "smaller government." And it's not gonna be pretty.

So good luck to all the shale oil/gas zealots, and we all hope the government pours subsidies into your pet of choice. But every model out there, from the EIA to the Joint Chiefs to the IEA, insists that unconventionals will only make up a tiny fraction of global energy consumption going forward.

Of course, if you wanna give what's left of the cheap and easy stuff to Chindia so you can pretend you've "weened us" off foreign oil, and instead pretend we can "frack" our way to utopia, more power to you.

But our desperate military expenditures abroad tell a different story as to where the petro-dollar priorities lay. Imagine if we cut that defense budget in half and poured the extra capital into "drill baby drill?"... Imagine.

But, oops. We don't. .... Ever wonder why? ((and please don't say, 'to stop the spread of radical Islam!!' ... LOL))

 

[JiggsCasey]

Oops, never gonna offset existing decline. Neither is your magical "reservoir self-replenishing" theory.

Look at that graph. Not only is it annotated poorly, but its a forecast.

Here is another...Jimmy Carter said we would be running out of crude globally by the end of the 80's.

Does Polly the Parrot understand now why using future forecasts doesn't mean bubbcuss, or would you like an example from the 19th century to demonstrate the same thing?

I got it! Peakers are all reincarnated "runner outters" from the 19th century, THAT is why nothing which comes out of your religion is any different from way back then! Just the same old scare mongering, dressed up in a peaker suit instead of a runner outter suit and dished out on the internet to see who is dumb enough for fall for it!

This may be the record for the most straw manning and false dichotomoy in one sorry-ass post.

Please link to where Carter said we'd be "running out of crude globally by the end of the 80s." I'm sure there's quite a bit of context you're leaving out. It's what you do.

It's so bad for you at this point, shale oil salesman, that you've resorted to poo-pooing forecasts now, regardless of whether they come from ASPO, the IEA or the Pentagon, and who cares if they all forecast the same results.

I guess if 7 TV networks tell you a hurricane is coming, by your retarded logic, you'd be dumb to prepare... Because everyone knows weather forecasts are a soft science. LOL