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Let's Move On...

In case you missed the BIG news...
In case you missed the BIG news...

These sort of top-down resource estimates based on areal extent in square miles and acre feet of reservoir generally only have a P50, or a 50% probability, of actually coming to fruition. Remember technically recoverable means theoretically recoverable...the estimated resources have not even been discovered yet.


50% of 1.6 G BO, total recoverable resources from the Barnett/Woodford across the entire Permian Basin, would only equal 6 months of current exports of tight oil to foreign countries, from the same Basin. Six months!


50% of 28.3 TCF of natural gas, total recoverable resources from the Barnett/Woodford across the entire Permian Basin, would only equal 5 months of natural gas consumption in the United States (EIA). Five months!


If the truth be known the entire Permian Basin is likely flaring a BCF of associated gas from tight oil wells each day given the current WaHa Gas Hub postings .


We should move on from these ridiculous top-down resource estimates (two birds in the bush) that get oil illiterate people so excited and instead focus on the one bird already in our hand...a truthful bottom-up discussion of remaining recoverable proven, developed resources in America and where the money will come from to produce THAT!

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