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Since 2012 there have been 55,000 HZ shale oil wells drilled in the Permian Basin that have produced a little north of 16 Gbo.
Abundance nuts believe another 120,000 HZ wells can be drilled in the Basin that will produce another 32 Gbo, 2 times what has already been produced.
For the record...80-85% of that new Permian oil will be
exported to foreign countries.
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Video Stuff
Quote Stuff
“There are good geological spots in shale plays and weaker geological spots, and a lot of the good geological spots have already been drilled,” he said during the panel.​ “My theory is that you’ve got basically resource exhaustion that is beginning to take place. It’s no secret that you’ve only got three shale oil plays in the U.S. of any consequence,” Papa said.
“The rest of them don’t amount to a hill of beans.”
Mark Papa, 2020
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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.