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2016 and the end of the U.S. export ban was the beginning of the
decline in conventional exploration, including the GOM. Shale
oil sucked all the capital out of domestic oil and gas industry, some
$300B...and never paid it back. 4.5MM BOPD of U.S. LTO developed on this credit scheme was all exported to foreign countries.
Video Stuff
Quote Stuff
“There cannot be "U.S. energy dominance" and $50 per barrel oil; those two statements are contradictory. At $50-per-barrel oil, we will see U.S. oil production start to decline immediately and likely significantly (1 million barrels per day plus within a couple quarters),” an executive at an exploration and production firm said.
​
Another executive put it even more bluntly, “The administration’s chaos is a disaster for the commodity markets. "Drill, baby, drill" is nothing short of a myth and populist rallying cry. Tariff policy is impossible for us to predict and doesn't have a clear goal. We want more stability.”
These are 2023 and 2024 well profiles and cummprods from Irion County in the far East flank of the Midland Basin.
When America gets thru draining itself of remaining, affordable shale oil from the Permian Basin's cores, for exports to foreign countries, this is what our country has left to look forward to, for ourselves. Higher well costs for 30-40% less C+C in EUR's.
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I do this blog stuff for fun, not to make money. I am not trying to sell you anything.
The materials provided on this site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice. I may make data related mistakes occasionally; if you use my opinions about oil reserves or shale well economics for financial purposes, to buy or sell stocks, your nuts. Don't do that. If I have used a photograph incorrectly it was for educational purposes and I have done my best of to give credit where credit is due. My stories are all true, slightly embellished, perhaps, but true; I don't change names to protect the guilty. I am as accurate as possible about history and historical facts; I work very hard at that.All rights are reserved, whatever that means. Don't blame me, I didn't do it.
