Text 27575, 45 rader
Skriven 2009-02-16 12:51:29 av Roy Witt (1:397/22)
  Kommentar till text 27524 av Robert Bashe (2:2448/44)
Ärende: Maybe, baby...
======================
15 Feb 09 08:58, Robert Bashe wrote to Roy Witt:

 RW>> Texas doesn't produce any oil to speak of these days. Most oil
 RW>> fields that were producing oil have shut down because the price of
 RW>> crude is less than $40/barrel.

 RB> That's a misleading statement, as Texas most definitely still
 RB> produces a lot of oil and gas (read up on the "Bartlett Shale").

I had just read an article in the local rag about the plight of oil rig
workers who have been laid off because the oil wells have been shut down
and are wondering how they're going to pay for those 'crew cab' pickups
they just bought, or the 'trailer' they needed to buy when they moved out
to the desert to work the job.

 RB> The key question at the moment is the production cost. An old well
 RB> that's still pumping, where the cost has been amortized many times
 RB> over, is still profitable.

But not pumping at the moment.

 RB> It's just the new, marginal wells that were drilled when crude was
 RB> over $100 a barrel that are temporarily being shut down, and there's
 RB> not much new drilling at the moment - people waiting to see how
 RB> things develop, and money is also tight.

 RB> The place to check on Texas oil and gas is the Railroad Commission
 RB> website:

 RB> http://www.rrc.state.tx.us/onlineservices/index.html

Even though the last three or four years shows a substantial increase in
rigs online since 2004, there's more gas being extracted than oil, 2:1...

http://www.rrc.state.tx.us/data/drilling/txdrillingstat.pdf

                R\%/itt


"The man who reads nothing at all is better educated than the man
 who reads nothing but newspapers." - Thomas Jefferson


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