Chevron didn't buy Hess because of their US operation, but because of their foreign Operations. Hess for example is a major player in the current Oil boom in Guyana.
As it turns out all this development of horizontal drilling tech in the US will have great utility when geothermal starts to take off in areas where it currently isn't viable due to being too deep.
Even if there was a geothermal boom natural gas will still be needed. The US needs to quadruple its energy generation at that will mean all sources are needed.
Wasn't the entire U.S. shale boom funded by debt and technically most wells produced at a financial loss? ( That is a legitimate question btw.) Its almost like the ratio of calories burned drilling for tight oil vs the calories of energy you extract are non profitable. More conventional wells like what the Saudis have for example are cheaper to run and can produce much higher returns in terms of fuel extracted vs. fuel burned to produce it. Why else would we here in the U.S. be drilling the hardest to get to lowest returning energy reserves that require the most energy to be burned to extract? I think what we are seeing is mother nature and the laws of physics saying : "Screw your financial forecast, you live by my rules not the other way around."
They have completely missed the point, the reason for the decrease in production is wall street not wanting oil companies to just drill like crazy like in 2014. That’s why Exxon bought continental, to expand drilling in the Permian and bypass Wall Street.
This video misses a lot of the big picture, the main point behind the big consolidation going on in the Permian right now, is to simply expand acreage inventory to keep drilling at the desired drilling volume for longer. Chevron, however, has no need to aquire more acreage to the same extent as some of the other majors since their acquisitions of Gulf and Texaco back in the day allowed them to acquire considerable amounts of acreage in the region
Boomers don’t have much time left for more discoveries anymore and want to cash out fast Also interest rates increasing made the borrow and pay later more tricky
1:57 intresting t shirt for oil industry
Chevron didn't buy Hess because of their US operation, but because of their foreign Operations. Hess for example is a major player in the current Oil boom in Guyana.
Shale drillers need to start using their drilling expertise to drill geothermal wells to produce baseload electricity.
As it turns out all this development of horizontal drilling tech in the US will have great utility when geothermal starts to take off in areas where it currently isn't viable due to being too deep.
They are.
Even if there was a geothermal boom natural gas will still be needed. The US needs to quadruple its energy generation at that will mean all sources are needed.
Wasn't the entire U.S. shale boom funded by debt and technically most wells produced at a financial loss?
( That is a legitimate question btw.)
Its almost like the ratio of calories burned drilling for tight oil vs the calories of energy you extract are non profitable.
More conventional wells like what the Saudis have for example are cheaper to run and can produce much higher returns in terms of fuel extracted vs. fuel burned to produce it.
Why else would we here in the U.S. be drilling the hardest to get to lowest returning energy reserves that require the most energy to be burned to extract?
I think what we are seeing is mother nature and the laws of physics saying :
"Screw your financial forecast, you live by my rules not the other way around."
The Bakken has massive economic effects. Even here in Montana.
They have completely missed the point, the reason for the decrease in production is wall street not wanting oil companies to just drill like crazy like in 2014. That’s why Exxon bought continental, to expand drilling in the Permian and bypass Wall Street.
They talk about this point in the video, it's not the biggest reason for the decline in production
Good! The Shale gets in the Blue Energy Grid or Natural Gas Grid.
This video misses a lot of the big picture, the main point behind the big consolidation going on in the Permian right now, is to simply expand acreage inventory to keep drilling at the desired drilling volume for longer. Chevron, however, has no need to aquire more acreage to the same extent as some of the other majors since their acquisitions of Gulf and Texaco back in the day allowed them to acquire considerable amounts of acreage in the region
Sponsored by Ibredola, a Spanish Corporation. Seriously , FT. 😊
Permian production is limited by full pipeline flows out to market. Pipeline projects are planned.
So called? Tell me you're a propagandist without telling me you're a propagandist FT.
reference?
Boomers don’t have much time left for more discoveries anymore and want to cash out fast
Also interest rates increasing made the borrow and pay later more tricky
hy
Why us don't use they own fuel
we want democracy Bangladesh we want voting rights in Bangladesh
get lost