12000 Wells Needed Each Year

[hurleyjd]

12000 new oil wells needed each year to maintain USA production. Lots of figures to look at maybe some of the oil experts on this board can explain.

https://finance.yahoo.com/news/real-reason-why-us-oil-230000763.html

 

[1982vett]

Been waiting 4 years for our next one. Surveyors have done some work but mergers and acquisitions have shut that down 3 times. Cheasapeake owns one lease, Magnolia Oil and Gas the other. I don't foresee either doing much new drilling in our area at the price oil is now.

 

[TennesseeTuxedo]

Have we started drilling in ANWAR yet? That'll add some product to the market. MAGA #drillbabydrill

 

[jltrent]

No expert here, but can you still shoot a gun and hit Texas Tea? It has happened in the past.......

https://youtu.be/NwzaxUF0k18

 

[TennesseeTuxedo]

No expert here, but can you still shoot a gun and hit Texas Tea? It has happened in the past.......

https://youtu.be/NwzaxUF0k18

I thought the Clampetts were from Tennessee or Arkansas?

 

[jltrent]

No expert here, but can you still shoot a gun and hit Texas Tea? It has happened in the past.......

I thought the Clampetts were from Tennessee or Arkansas?

Did you listen to the theme song?

 

[TennesseeTuxedo]

No expert here, but can you still shoot a gun and hit Texas Tea? It has happened in the past.......

I thought the Clampetts were from Tennessee or Arkansas?

Did you listen to the theme song?

Yup.

 

[HDRider]

No expert here, but can you still shoot a gun and hit Texas Tea? It has happened in the past.......

I thought the Clampetts were from Tennessee or Arkansas?

Did you listen to the theme song?

So where are they from? It did not say

 

[HDRider]

I asked the Google...

The Clampetts weren't from Texas, but could have been Arkansas or Missouri or possibly Tennessee. There are references in the show to various places including Eureka Springs and a place called Bugtussle...Granny for sure was from Tennessee.

 

[TennesseeTuxedo]

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en.wikipedia.org
The Clampetts weren't from Texas, but could have been Arkansas or Missouri or possibly Tennessee. There are references in the show to various places including Eureka Springs and a place called Bugtussle...Granny for sure was from Tennessee.

 

[HDRider]

Beat you to it

 

[TennesseeTuxedo]

Beat you to it

Yes you did.

 

[cowboy43]

:hide: Beverly hillbilly's were on from 1962 to 1971 Ellie May was born in 1937 she would have been 30 when show started and 39 when show ended. You think she was the innocent she portrayed living back in those hills with all those hillbilly's and her hillbilly cousin.

 

[hurleyjd]

Best I can find after not getting any response about oil wells is the wells that were fracked lose about 1/2 production the first year and may last up to forty years with production in the latter years at ten barrels a day.

I bet ever one of you were lusting after Ellie May and not Granny or Jane Hathaway. I sure hope it was not Jethro.

 

[HDRider]

Best I can find after not getting any response about oil wells is the wells that were fracked lose about 1/2 production the first year and may last up to forty years with production in the latter years at ten barrels a day.

I bet ever one of you were lusting after Ellie May and not Granny or Jane Hathaway. I sure hope it was not Jethro.

You want him all to yourself?

 

[Lucky]

Bug Tussle is in Texas, pretty sure they're not from there. I would guess Arkansas... maybe Kentucky....

 

[HDRider]

Bug Tussle is in Texas, pretty sure they're not from there. I would guess Arkansas... maybe Kentucky....

Never met them, or their family

 

[Caustic Burno]

Back when I was working the average barrels per day produced by a well in the USA was 16. Figured the average on a new well produced 1/2 the first year and the other 1/2 over the next 9 years. Tons of wells decades old that still produces a few barrels a week.
The USA has over a million active wells in and offshore. U.S. production is roughly 18 million bpd.
For your reading pleasure.
https://enviroliteracy.org/energy/fossil-fuels/abiotic-theory/

 

[Brute 23]

12,000 wells is really not that much in a year. Depends on which formation as to the decline curve. The Eagle Ford was 80% in the first 6 mo. The zones in the Permian hang in a little longer.

Things have slowed down substantially. Companies are going bankrupt left and right. The article is correct that companies can not make money at these prices. There is no way in heck I would have E&P in my portfolio right now unless its like Exxon.

O&G is due for a major correction.

There was a time where you could ride across the gulf coast prairie and find oil puddles and natural gas seeping out of the ground. It was not that long ago. In my dads life time they would drill wells with a water well rig on our property and some of the neighbors. The wells were so shallow some times when you hit the gas pocket it would just blow the dirt up around the pipe. Some the shallow production would make fresh water with the O&G.

 

[ALACOWMAN]

I thought the Clampetts were from Tennessee or Arkansas?

Did you listen to the theme song?

So where are they from? It did not say

Somewhere near Hootervillie and Pixley...