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This is Boots Hansen and Pat Campbell on one of the most significant blowouts in North American history, Lodgepole, Alberta' 1982. The well was making deadly percentages of H2S that killed four Wild Well Control hands before Boots & Coots, Inc. took over; it had to be capped while still on fire to keep the gas from killing everyone within 25 miles.
Stuff To Think About
No shit on this, Mr. President
Video Stuff
Folks NEED to watch this video ! Often the MSM will
report of comments made by, in this case, Diamondback, and leave out the most relevant parts. Eric does not. This is important.
Quote Stuff
" True, full cycle, all-in corporate breakeven prices of the U.S. shale oil sector are $90 a barrel. All long term debt must be paid back and the sectors
well inventory plugged, abandoned and decomissioned.
That is the cost of doing business and every barrel of oil produced by that shale sector bares the burden of those costs." Mike Shellman ​
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Please see oilystuff.com... Forum Stuff
The United States shale oil phenomena was profitable for a few quarters between 2022 and 2023 when high prices lent themselves to cash flow. In 2021 Bloomberg predicted the shale sector would clear $300B of profit in 2022 onward but D&C costs went up and the
sector never made half that.
Sadly what it did make was not applied to shale oil debt and today the sector is back to being over $178 billion dollars in the toilet.
Personally I believe that debt will, for the most part, never be paid back now as costs increase and well productivity declines.​
We'll wait on that, to see, but it will take $140 oil and $5 natgas, sustained, to be able to turn it all around.
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So for all the bullshit about how wonderful shale oil has been for foreign policy, trade deficits, jobs and for the consumer (?!), the entire thing is going down in history as never having made money.
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I do this blog stuff for fun, not to make money. I am not trying to sell you anything.
The materials provided on this site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice. I may make data related mistakes occasionally; if you use my opinions about oil reserves or shale well economics for financial purposes, to buy or sell stocks, your nuts. Don't do that. If I have used a photograph incorrectly it was for educational purposes and I have done my best of to give credit where credit is due. My stories are all true, slightly embellished, perhaps, but true; I don't change names to protect the guilty. I am as accurate as possible about history and historical facts; I work very hard at that.All rights are reserved, whatever that means. Don't blame me, I didn't do it.