Відео

Anyone who thinks shale is low EROEI is instantly discredited. Maybe instead of "following shale players" you should still a few shale wells to get an idea of what's actually happening

@@timthetiny7538 Oh thanks; what EROEI do you get for shale, say, vs. conventional onshore? I'd appreciated your input.

@mwgilmore9953 shale gas probably 30 or 50 to 1. Oil is variable but it takes about 300,000 gallons of diesel to drill and frac a 2 miles wolfcamp lateral. On a 750 MBO type curve, you're running something like 25 million gallons of liquid fuel (diesel and gasoline), 8 or 9 million barrels of natural gas liquids and a couple billion cubic feet of dry gas for electricity.

8 or 9 million gallons of ngl. Not barrel*

@@timthetiny7538 thanks for the detail, but we add all the inputs when we do our financial analysis of EROEI: Frac sand processing and shipments (10,000 tons per frac; 110 tons per rail car; 24 tons per truck); 3 to 5 million gallons of Water for the initial frac (20k truck capacity); millions of gallons of water to process and dispose of from flowback and production. These inputs highlight the extraordinary effort required to bring fracked oil to the market compared to conventional "Beverly Hillbillies" oil, which is all I was trying to highlight in my first post.

We have discussed the provisions seismic companies go to, to minimise the environmental impact on species like lobster. Ultimately there will be some impact - but I expect this is minimal and of short duration. The impact is surely almost zero when compared to the fishing industry which must remove millions of lobsters every year. Bear in mind near shore/coastal waters are rarely, if ever, surveyed by seismic vessels. The principal reason is the water depth is too shallow for the towed steamers.

I once looked at the DJ basin and loved the successful drilling results - this was a short, overview video - we didn't have time to go into much detail - one for the future I expect.

If the fiscal environment is right, the miracle which has been the turnaround & huge increase in the US production profile results. It has done wonders for the security of supply and the balance of payments. It has made the US economy strong. None of these attributes apply to the UK sadly.

We shall watch with interest to see what the new administration does with the O&G industry. Having a local supply of cheap energy certainly helps industry to be competitive on a global stage. European energy prices are much higher, making products from this region expensive and unable to compete.

There are federal lands and private ownership of underground resources. There is no greater way to get locals onboard with development plans than to include them a cut of the operation. This isn't possible in much of the rest of the world but there have been schemes to build hospitals, roads, schools, community centres etc.

Many thanks Colin. We enjoyed making this video and delivering our talk.

Thanks for the observations and comments. I can't comment on all your points but Cook is as far away from "Doubtful & Dubious" aka Derwent & Dauntless as you can get. The former was a huge success.

@@TROVE-1stSubsurface RE: Cook: I agree! What I tried to express is that at the time there was serious conservatism towards the upside volumes in this particular play, after a number of wells had unsuccessfully tested stratigraphic upsides that didn't materialise. So when you suggested that traps could be larger compared to what was the agreed base case, you immediately got reminded of the D&D example.

Hi Josue, Does anyone know where to find the production contribution from just the Gulf of Mexico? We get the total USA production from EIA, but haven't found a source for the breakout by GoM, unconventional etc.

Gallows humour I'm afraid. The economic situation is dire.

@@TROVE-1stSubsurfaceGallows humour is the glue that keeps our society together 😅 🇬🇧 I’m afraid very soon we going to be singing Always look on bright side of life, covered in soot while turning cogs of Carbon Capture machines 😂

I guess it's all about deliverability (the rate of producing) which impacts economics. It would be interesting to get data on high density crude in low permeability rocks.

@@TROVE-1stSubsurface the natural permeability in shale and tight rocks are always negligible and can not sustain any meaningful production. The extra "frac"perm are created by water fracing and much larger by orders of magnitude.

Thanks Josue. Glad you enjoyed our brief look at permeability.

Agreed. Johan Svedrup has been a phenomenal success - discovered quite late in the exploration history of the North Sea basin.

Thanks Mike. Can anyone - can anyone confirm this and explain why (lowered aquifer pressure due to huge offtake, drilling deeper/hotter/gassier plays?). Thanks, Mike

Hi Tito, All has gone quiet. If anyone has any information we would gladly post an update.........

Coincidence?

We are now trying to salvage a UK oil & gas industry. But mainly we have turned our attention overseas........

Lol!!

Politicians! How I wish they were more representative of society - and represented society!!

Sadly there is unlikely to be a lawsuit as Colin stated.

Yes Vincent - there of lots of potential and growth opportunities outside NW Europe. Sadly, the UK seems to be on a self-destruct, self harm strategy. In today's news Harbour Energy is reported to be up for sale. You would think the government might sit up and take notice when the LARGEST PRODUCER IN THE UK is selling up!! But Mr Milliband, the Energy Secretary is seemingly myopic and misguided. We will end up paying more overseas companies/countries to import our required oil which has a higher associated carbon footprint. A tragedy unfolding as I write....... Utter madness!!

A sentiment we share Vincent!

Not the subject of this video.

Don't agree. As commodities get scarce, the price goes up. This makes many discoveries & exploration targets economic. Now there is the balance of alternative energy sources - coal, gas, nuclear, renewables etc. But there are many uses of oil that will not be replaced in the short to medium term.

Will you tell them or should I? LOL

@@TROVE-1stSubsurface Already suggested in 1984 that they add teletex spot and contract info to the movements, no real enthusiasm to take on the data management responsibility. OPEC can keep guessing which vessels are loading / offloading / bunkering / stationary / storage and by how much their Quota's are being exceeded.

I guess it became an internationally recognised benchmark and as such has value. I'm not sure any of the other benchmark crudes have the same fields contributing as when they were first introduced. "Brent" still has a place and I'm glad the legacy lives on.

Certainly gas! The UK has been reliant on Norwegian gas for decades. Dents the balance of payments - but the UK consumer and tax payers love paying top dollar for energy! Not!!

You will find a video on China on our channel. Simply search Google for "TROVE News 1st Subsurface UA-cam video" and once you have located our channel you can search over 200 videos on a variety of topics, worldwide. We need to do more videos on South Asia - perhaps an interested party/company/regulator would sponsor a video.

Not just Margaret Thatcher!

block58 is a continuation of the Guyana-Suriname play, and the maturity quickly goes up in the South-East (Suriname) direction as shown in 3:09~3:58, so in Hajmara it is already condensate, and block58 is probably rich wet gas

It just missed our video deadline. We'll cover it in the next update.

Thanks. We have noted this trend. Source rock depth of burial/maturity is indeed the probable cause.

@@agtanalyzers6321 58 is oil, but the accumulations are smaller and less frequent.

@@timthetiny7538 the Guyana-Suriname oil gas system is the same as Brazil presalt, or the Atlantic rift hyper-saline lacustrine sourced. If you look at Brazil presalt, the GOR is already in the condensate, i.e. >3MCF/bbl, and yet the liquid has API below 38deg, which for marine sourced oil, the API is perfect black oil. Similarly, many such Atlantic rift sourced wet gas still have liquid with API below 45deg, but GOR already above 20MCF/bbl.

Yeh - a suicidal policy the government want to follow.

Agreed

Great news for your country

We just wanted to remind our viewers the system is "odd" to say the least.

Thanks Mike. It's not too late - consider writing to your MP.

Let's ope common sense prevails. Politicians! They screw it up for everyone.

Agree with you there Tim. Offshore gas is often associated gas - produced as a bi-product of oil production. There are limited options with what you can do with this gas - flare it (huge carbon footprint and a wasted resource), re-inject it (less efficient but avoids release into the atmosphere) or transport to the beach (via pipeline) and use it. The USA is indeed blessed with huge unconventional gas resources which it is developing and has lead to great economic benefit - self-sufficiency, security-of-supply, cheap energy, cleaner than coal or oil, etc etc). It has been an amazing success story.

Thanks Brendan. Would viewers like to see more on Norway or is there another region/country/topic you would like us to cover?

Interested in learning more Tim - or I will ask Malcolm our resident Norway expert. If you have data we will gladly share it on the channel. Thanks for the feedback Tim.

Which politician doesn't understand? If they all "get it" then I would claim criminal negligence. Thanks Mr Paul.

Thanks for the feedback. We have databases for every country in the Middle East - name a field - we've got it! ATB, Mike

UK declines. The Middle East thrives. Are there the same standard of environment protection throughout the region? I know the answer - NO!!

Thanks for clearing that up. Two wells and a successful test are much better at calibrating a find of this enormous magnitude than an exploration well's 8 and a half inch diameter hole and electric logs. I still don't believe you proven up 10 billion boeip (barrels of oil equivalent in place) with just two wells. No denying it's a great start and hyping the volumes does no harm when farming out half you equity and operatorship. The price tag will be eye-watering.

Mea culpa. I should have paid closer attention in geography lessons. Will try and get it right in future!

Do you have details on Frank Holmes? Nothing wrong with a good burger.

Thanks Mike. Please forward to your colleagues and consider giving us a thumbs up to help ur channel grow.

Do you have a plan to do a video of TRS? That will be interesting as well since most of the guy who supplies material like OCTG may not have a chance to visit rig and see how casing/tubing was ran in hole

Thank you for the feedback. We're hoping to do more on the technology and amazing engineering that allows for exploration & production to happen. Spent many happy visits in Perth - and I hope to get back before too long. ATB, Mike

I'd say "Difficult" is overstating it

Politics! It can change the world - for good or bad. I hope for the former!

Any Southern Africa connection? I know ROC but can't think of Tethys

Thanks Adrian - and yet we have done videos expoing the difference! Hey ho!

Don't remember any confusion when I was in the industry 😅