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We Be Mates

This is a fella named Ko Min from the Magwe District of Burma. He is an oil producer, like me, and we be mates.

Ko can make up to $30 USD a day from three oils wells he operates by winching up a sock like bailer full of oil that he then pours into buckets. He leased the land for a bonus but does have to pay royalty. His wells are 300 foot deep and his lift costs, I suspect, are pretty low. I don't see any Baker chemical drums anywhere. He appears to live on location in a tent. I do the same thing sometimes in my pickup truck.

Mr. Min takes his oil to the local village and the crude oil buyer comes by in a truck and pours his, and other operator's, oil into 55 gallon drums for hauling to the local refinery. There are no LACT units to meter the oil thru, no BS&W standards, and it does not appear that division orders are necessary before getting paid; it's cash on the barrel head, so to speak.

Taking Burmese crude oil to market. Note the mud chains on the transport truck; very un-Plains like.

Mr. Min definitely has the leg up on me here in good 'ol Texas. He does not have the EPA on his ass, is not required to wear steel toe boots are FR rated coveralls and the US shale oil industry is not trying to drive him out of business with overleveraged LTO oversupply. The First President of Miramar (Burma) a fella named, Win Myint, is not known to be pressuring OPEC to lower oil prices in his my president is in my country. I guess its hard to "dominate the world with abundant Burma oil supplies" when the stuff gets taken to market in 5 gallon buckets.

Wall Street, clearly, has not found out about Mr. Min's operations yet or it would want to loan him money hand over fist. He would, of course, first have to learn to drill that reservoir at 300 feet horizontally, then figure out a way to frac the lateral with multiple sand stages. Mr. Min would then commence to losing money and be applicable for even more low interest capital from Wall Street. Before you know it Ko and Harold would be meeting in Williston, where they could both whine about OPEC not raising oil prices. He and I would then, out of necessity, stop being mates.

Drilling rigs in the Burmese twilight on Wolfcamp-like spacing. Please note the absence of gas flares.

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