Faded Texas Oil Field Offers Austerity Lesson for U.S. Shale

Discussion in 'Oilfield Trucking Forum' started by Chinatown, Dec 7, 2019.

  1. HoneyBadger67

    HoneyBadger67 Road Train Member

    1,147
    2,336
    Dec 15, 2018
    Champaign, IL
    0
    There are going to be a lot more Richards on the road in a few months. There will be a massive influx and then taper to a moderate increase. Kinda like how fracking produces oil.
     
    not4hire and D.Tibbitt Thank this.
  2. Tx Countryboy

    Tx Countryboy Road Train Member

    1,969
    4,348
    Sep 18, 2019
    0
  3. plater1

    plater1 Medium Load Member

    318
    190
    Jan 24, 2011
    back in NY
    0
    It's odd the article doesn't mention how production can actually increase with zero new wells drilled. Old wells can be refracked many times. Also long bores 17,000-30,000 feet may not have been fracked completely because of cost. They can knock out 50 stages then come back 18 months later and do another 50. It would seem that article is aimed at Wall Street money "wanting a new home". When i worked Texas in 11' thru 16' we would do the EOG wells outside Pecos where they would drill, frack then cap. I'm not sure how many there were, but it would seem Enron knew pretty early about the price crash of 15' and 16' and planned for it?
     
    not4hire Thanks this.
  4. halfburn

    halfburn Medium Load Member

    541
    185
    Feb 22, 2009
    Jasper AL
    0
    Shale is done. Investment slowing down because the promised return not showing at current or foreseeable future oil prices. Expect all kinds of good news and promises the next few years to try to keep it going.
     
  5. Tx Countryboy

    Tx Countryboy Road Train Member

    1,969
    4,348
    Sep 18, 2019
    0
    Shale ain't done just like people saying the baaken is done. They slow down like in the past.
     
    autopaint Thanks this.
  6. RockinChair

    RockinChair Road Train Member

    1,264
    1,857
    Feb 19, 2012
    Permian Basin
    0
    No, it ain't done, just another slowdown related to crude price drops. The EFS will always slow down before the Permian Basin on account of the increased cost of fracking a tighter formation.
     
  7. LDLWells

    LDLWells Medium Load Member

    577
    715
    Jan 14, 2019
    0
    Shale is done!


    Until the price creeps back up and there's money to be made
     
    Brettj3876 Thanks this.
  8. Brettj3876

    Brettj3876 Road Train Member

    3,089
    9,320
    Nov 18, 2014
    Northeast PA
    0
    Hopefully the rate cutters fold up and go out of business. Soon as the boxes started showing up the rates tanked.
     
    RockinChair Thanks this.
  • Draft saved Draft deleted