It was just posted in the news yesterday a recent survey discovered 1.6 billion barrels of oil in the Woodford and Barnett Shales. What are the thoughts on this? Very curious to see all of your opinions.Thanks Ladies and Gentlemen!
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Just because it’s estimated doesn’t mean it can be produced. It’s can be trapped in very tight pores and just won’t flow to wellbore. Not all oil is producible.
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Fracing doesn’t always work. Sometimes verticle wells are all u can justify. The wet gas areas are what u want at a minimum
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Ok. So we are in wait and see mode. But it is exciting that there is even an opportunity for this to take place.
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It is exciting that’s true. We used to plug anything less than 30 bopd. Now they set casing on everything.
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I own land in both Reeves and Ward counties so anything happening there my antennas go up!
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Could be good things coming your way.
I hope so. I think it’s going to be good for all of us in the Permian for sure! Thank you for your input!
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Enjoy the ride. A new adventure
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It’s BEEN known already !!
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What I read indicated that 1.6 billion barrels is only about 10 weeks oil consumption by the United States!
That’s exactly what it stated. But that is an estimation based off of what they found. They haven’t drilled down to 20k yet to know for sure if it’s possibly more. It definitely is a positive indicator that it may be a whole new reserve that may far exceed what is even imagined. I definitely hope it is!
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No shale at 20k. Too hot. Cooked out.
Could be looking at granite wash
The article is from the USGS : https://www.usgs.gov/publications/assessment-undiscovered-continuous-and-conventional-oil-and-gas-resources-woodford-and
Four page summary of “technically recoverable” reserves. Has maps, charts and references. The 18,000 TVD depth is about the current depth of successful onshore horizontal drilling. The thermal maturity will get higher as they go deeper and hotter.
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You need a good homogeneous organic shale with high oil saturation and it needs to be large so u can have long laterals. It’s a rare combo.
President Jimmy Carter said “The World is running out of energy”! He said that back in the 1970’s. He also took the ceiling off of interest rates and they went from a maximum of 10% on simple interest loans to 24% in a 6 month period. I know because I got caught up in it for a while. Trump is trying to reverse some of that BS!
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Thank you for providing this information. This is huge!!!
From the looks of things, it doesn’t look like we ll be running out of energy in this century!!
I just found out the deep shale is good organic and has gas drive. There will be some giant rigs out there all the way to 20,000. And then horizontal. Xto is right in the middle of it. They like to drill a few large diameter wellbore to expose much more rock face.
Now if it’s contiguous that’s royalty deluxo