Greetings, Adam.
Hope all is going well with you.
Just to briefly pass on some recent developments - operations wise - in the upstream portion of this Shale Revolution ...
Extreme Limited Entry is the latest buzz phrase describing the maintenance of 1,500/2,000 psi fluid pressure from the wellbore face out the the expanding fracture tip. This high pressure greatly expands the area of fracture stimulation within which the massive amounts of small (micro proppant up to 100 mesh) proppant can enter, scour, and prop heretofore inaccessible rock.
This process is accomplished by cyclical pump rates, micro seismic monitoring, and the timely use of various diverters. These tools also enable HIGH control of the frac geometry.
The primary hydrocarbon recovery rate is now approaching 20%.
Articles from aogrdotcom from Oasis as well as the innovative Liberty Resources describe this in more detail.
The investor presentation from Whiting this week contained - for only the second time ever, to my eye - acknowledgement of the so called 'halo effect' that Bruce Oksol has been writing about for years.
Whiting's suits describe it as 'parent well uplift' and the conference call transcript has several mentions as the analysts seemed pretty surprised by it all.
Bottom line, hydrocarbon abundance will be had for quite some time.
People who say otherwise will continue to display their ignorance to a shrinking, increasingly blinded cohort of Disbelievers.
PeakOil is You
Is EROEI Important Pt. 5
Re: Is EROEI Important Pt. 5
by coffeeguyzz » Wed 08 May 2019, 12:17:33
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Re: Is EROEI Important Pt. 5
by dirtyharry » Wed 08 May 2019, 12:29:23
$this->bbcode_second_pass_quote('coffeeguyzz', 'G')reetings, Adam.
Hope all is going well with you.
Just to briefly pass on some recent developments - operations wise - in the upstream portion of this Shale Revolution ...
Extreme Limited Entry is the latest buzz phrase describing the maintenance of 1,500/2,000 psi fluid pressure from the wellbore face out the the expanding fracture tip. This high pressure greatly expands the area of fracture stimulation within which the massive amounts of small (micro proppant up to 100 mesh) proppant can enter, scour, and prop heretofore inaccessible rock.
This process is accomplished by cyclical pump rates, micro seismic monitoring, and the timely use of various diverters. These tools also enable HIGH control of the frac geometry.
The primary hydrocarbon recovery rate is now approaching 20%.
Articles from aogrdotcom from Oasis as well as the innovative Liberty Resources describe this in more detail.
The investor presentation from Whiting this week contained - for only the second time ever, to my eye - acknowledgement of the so called 'halo effect' that Bruce Oksol has been writing about for years.
Whiting's suits describe it as 'parent well uplift' and the conference call transcript has several mentions as the analysts seemed pretty surprised by it all.
Bottom line, hydrocarbon abundance will be had for quite some time.
People who say otherwise will continue to display their ignorance to a shrinking, increasingly blinded cohort of Disbelievers.
Hope all is going well with you.
Just to briefly pass on some recent developments - operations wise - in the upstream portion of this Shale Revolution ...
Extreme Limited Entry is the latest buzz phrase describing the maintenance of 1,500/2,000 psi fluid pressure from the wellbore face out the the expanding fracture tip. This high pressure greatly expands the area of fracture stimulation within which the massive amounts of small (micro proppant up to 100 mesh) proppant can enter, scour, and prop heretofore inaccessible rock.
This process is accomplished by cyclical pump rates, micro seismic monitoring, and the timely use of various diverters. These tools also enable HIGH control of the frac geometry.
The primary hydrocarbon recovery rate is now approaching 20%.
Articles from aogrdotcom from Oasis as well as the innovative Liberty Resources describe this in more detail.
The investor presentation from Whiting this week contained - for only the second time ever, to my eye - acknowledgement of the so called 'halo effect' that Bruce Oksol has been writing about for years.
Whiting's suits describe it as 'parent well uplift' and the conference call transcript has several mentions as the analysts seemed pretty surprised by it all.
Bottom line, hydrocarbon abundance will be had for quite some time.
People who say otherwise will continue to display their ignorance to a shrinking, increasingly blinded cohort of Disbelievers.
And as usual no talk as to what the cost is for all this . We will loose money, but no problem we will make it up in volume . Let us go mining for gold in the sea and look for rare earth metals in asteroids . As Gump said ^Stupid is what stupid does ^ .
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Re: Is EROEI Important Pt. 5
by rockdoc123 » Wed 08 May 2019, 14:58:11
$this->bbcode_second_pass_quote('', 'A')nd as usual no talk as to what the cost is for all this . We will loose money, but no problem we will make it up in volume . Let us go mining for gold in the sea and look for rare earth metals in asteroids . As Gump said ^Stupid is what stupid does ^ .
I'll bet Forest Gump knew how to spell "lose" though.
That aside please show us your calculations as to how the extra cost of this completion technique isn't offset by greater volume and greater recovery. Currently, wells in the Permian are costing around $7 MM drilled and completed and the completion piece makes up just less than half of that cost. If this completion technique increased completion costs by 20% (which is probably over the top) that would be an extra $600 K of costs per well. At current prices and assuming a netback somewhere in the $30 range that amounts to an extra 20,000 bbls of EUR. Given the average EUR has been increasing and is now somewhere close to 400 K bbls that is an increase of 5%.....something that is not out of the question. Another way of looking at it is a new completion would only have to result in an extra 150 bbls/d of production over the first 4.5 months to pay out. This sort of increase in IP and first 6 months production has been happening regularly over the past few years as technology and efficiencies improve.
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Re: Is EROEI Important Pt. 5
by coffeeguyzz » Wed 08 May 2019, 18:19:49
The additional cost for the parent well uplift is essentially zero as nothing is being done other than for some - (all?) - operators to pump water into the wellbore and pressurize to minimize intrusion from the offsets.
There is some increase in proppant cost for the new wells but this extra material is going to prop a gazillion new, ultra tiny cracks from which oil will slowly flow into the wellbore for decades.
A big upside - costwise - that Liberty is focusing on is reducing the stage count (big savings there) while increasing the perf clusters.
A goal is to identify and segregate the rock into somewhat homogeneous stages vis a vis frac pressure breakdown. This enables a somewhat uniform degree of pressure with which to extend the frac half lengths up to the desired spot.
Along the way, effectively employing diverters, the Stimulated Reservoir Volume (SRV) is rubbilized to an extensive degree.
If anyone does not recognize the favorable economics of +$60 WTI, they may as well stick with Steve, Rune, Mr. Short and the rest of the Know Nothings who, bizarrely, seem to never go away.
There is some increase in proppant cost for the new wells but this extra material is going to prop a gazillion new, ultra tiny cracks from which oil will slowly flow into the wellbore for decades.
A big upside - costwise - that Liberty is focusing on is reducing the stage count (big savings there) while increasing the perf clusters.
A goal is to identify and segregate the rock into somewhat homogeneous stages vis a vis frac pressure breakdown. This enables a somewhat uniform degree of pressure with which to extend the frac half lengths up to the desired spot.
Along the way, effectively employing diverters, the Stimulated Reservoir Volume (SRV) is rubbilized to an extensive degree.
If anyone does not recognize the favorable economics of +$60 WTI, they may as well stick with Steve, Rune, Mr. Short and the rest of the Know Nothings who, bizarrely, seem to never go away.
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Re: Is EROEI Important Pt. 5
by Yoshua » Thu 09 May 2019, 02:08:27
Mr. Short is trying to explain that energy and economy are tied to together...even to you know it all men.
https://pbs.twimg.com/media/D6FPf5ZXoAA ... me=900x900
https://pbs.twimg.com/media/D6FPf5ZXoAA ... me=900x900
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Re: Is EROEI Important Pt. 5
by eclipse » Thu 09 May 2019, 05:05:01
$this->bbcode_second_pass_quote('Yoshua', 'M')r. Short is trying to explain that energy and economy are tied to together...even to you know it all men.
https://pbs.twimg.com/media/D6FPf5ZXoAA ... me=900x900
https://pbs.twimg.com/media/D6FPf5ZXoAA ... me=900x900
I wonder how the 1970's Mesmer plan would show up on that graph? They were building 15 nuclear power plants a year at one point, and replaced 75% of their grid with clean nuclear within 15 years. (63% of that in just 10 years!) Or a massive shift into EV's / public transport & New Urbanism / other clean tech? What would that look like? Which is causal? Everything I read about the GFC was that because the economy imploded due to the Big Short, demand for travel decreased. It's interesting that oil demand dropped a full QUARTER and America did not go Mad Max. Imagine that?
Dr James Hansen recommends breeder reactors that convert nuclear 'waste' into 1000 years of clean energy for America, and can charge all our light vehicles and generate "Blue Crude" for heavy vehicles.
https://eclipsenow.wordpress.com/recharge/
https://eclipsenow.wordpress.com/recharge/
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Re: Is EROEI Important Pt. 5
by AdamB » Thu 09 May 2019, 11:53:30
$this->bbcode_second_pass_quote('Yoshua', 'M')r. Short is trying to explain that energy and economy are tied to together...even to you know it all men.
https://pbs.twimg.com/media/D6FPf5ZXoAA ... me=900x900
https://pbs.twimg.com/media/D6FPf5ZXoAA ... me=900x900
No one argues that energy and economy are tied together. Reality, precedent, data, logic and industry practice proves that Short doesn't know anything about that reality, precedent, data, logic and industry practice as it relates to energy and the economy.
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."
Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
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