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Old 11-14-2013, 04:11 AM   #121
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Known as the Red Queen: Running harder and harder just to stay in place.

Tight oil formation wells see a decline as much as 6% per month . . in only a few years they are strippers and sold off. Thus drilling new wells can never cease, so to speak. Bakken and Eagle Ford aren't too different in this. About $10-12 million to drill and complete one well. Both fields may peak in 2015.

The oil game is about bringing in new investors, and oil production only an interesting way to do it.
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Old 11-14-2013, 08:09 AM   #122
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Not too long ago, rejoicing if price for regular was going below $3 would not have happened. Remember when people were predicting a revolt if price went above $2?

I guess we can get used to just about anything for a while anyway.

Requiring vehicles to have better gas mileage plus the wearing out of old gas hogs has a lot to do with dropping gas prices. But as people see lower prices, they will drive more again, causing an increase in demand. We are pumping more oil out of the ground, but that cannot last. Fracking has revived old fields, but there's evidence fracked wells do not produce for very long, a fact that has not received much notice. So, for example, the Bakken formation in N. Dakota is producing a lot of oil and gas now, it can't last the way fields used to produce for decades generations ago.

Gene
Actually, Gene, I recently traveled and called on several accounts in the Bakken field. They all are planning to be in place for 25 - 30 years.
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Old 11-14-2013, 08:15 AM   #123
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Time: 1958; Place, Iowa Price, $0.11/gal Oh the good old days. And they filled the tank, washed the windows and checked the oil.
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Old 11-14-2013, 09:17 AM   #124
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Actually, Gene, I recently traveled and called on several accounts in the Bakken field. They all are planning to be in place for 25 - 30 years.
They have to say that because if they don't, they won't be able to get top dollar when the sell their interest in the field. They will eventually sell to middle level producers who will eventually sell to bottom feeders.

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Old 12-05-2014, 08:46 AM   #125
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Gene

Remember when everyone was worried about $5 gal. Plus Peak Oil...

Haha, $2 gal in the bag forever soon.

Should have "shorted the oil" and bot used ASs.

What is the next big investable trend?
Stay tuned!
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