Member Info for oiluser

Yup, they are never right.

Gkb47 has the audacity to speak of value addition,

Classic

Is varde a conviction short or are they hedging against something? Their position moves up and down over the month as though it's a hedge?

Anyone with any info on varde maybe???

They didn't want it past 10p a week ago,

Predicted figures only, I suspect the US is down 1mbod or will be soon enough and dropping but an announcement will be made re Exxon cuts in Permian, rest of world should step up now at G20. Canada, Norway and possibly something from someone in UKNS. Maybe BP or Shell or some from each.

Nothing too exciting, so it's up to non opec + to step up to the plate! And this cut is from April 2020 levels

https://www.oilandgasvisionjobs.com/news-item/opec-set-to-agree-4-3-mln-bpd-in-output-cuts-jp-morgan

PS, I like what he writes but the market is irrational at the best of time, it's all about where the players want the oil price. And that's probably somewhere between 40 and 45usd/bbl wti

Art Berman has been talking about the demise of shale from when it was 2mbod part of us production.

Absolute shixx, oilprice dot com is a schizophrenic rag that clutches at anything that may get it a reader. Bit like the tabloid of energy industry. If one was to use it to invest, you'd be in and out of the market your pot would be gone on stamp duty in a blink.

Over supply included China which is up and running now, not nearly out of the woods but clearing all the same. The "Donald" sees light at the end of the tunnel! If only that were true.

While that's true, the numbers also dont include people dying at home. Whom it's been decided should not be checked lest they add to a woeful statistic anyway.

US numbers exclude up to 200 souls a day because the difficulty to arrange the tests.

An estimated additional 180 - 195 deaths per day occurring at home in New York City due to COVID-19 are not being counted in the official figures. "Early on in this crisis we were able to swab people who died at home, and thus got a coronavirus reading. But those days are long gone. We simply don't have the testing capacity for the large numbers dying at home. Now only those few who had a test confirmation *before* dying are marked as victims of coronavirus on their death certificate. This almost certainly means we are undercounting the total number of victims of this pandemic," said Mark Levine, Chair of New York City Council health committee [source]

Its helpful for UK producers operating in NS. Not significantly though.

If talks were going that well trump wouldn't be threatening the talkers, would he? If I could bet on an outcome I would bet on failure. These guys are not feeling the pain the US is feeling right now, and wont for months to come. All stereographed to make it look like a deal but there wont be anything. I'm in here and hoping for a breakthrough but cant see it yet. Too early. Maybe when CV effect reduces substantially there will be a deal. Several weeks away. The US will end up shutting in production before SA & Putin do. Not to mention declining production from shake already started and will pick up speed very quickly. The trouble with trump is his ego,

End of life plays are not remotely economical at 50/60 as flows too small and decommissioning costs to high. Agree that technology has improved recovery by several percentage points over time but thete is a curve on that too. We have achieved as good a recovery as is likely, and all reserves tapped in last 10vyears are exposed to best in industry already. Its baked in as the saying goes.

Like I said, if the geologists say theres a 150 years of oil left they do not consider the price. The EUR rolled out to investors in the second great shale investment boom has been challenged and it looks like the EUR will arrive at about 80% of the advertised figure.

The long and short of it is in 1970 we were consuming 45mbod, it's now 100mbod and the most conservative estimates have it rising to 115/120mbod. The impending shortage is the rationale of the energy wars were in the last 20 odd years, whether cold or hot war.

Jbatch, these figures rise and fall with price, and till now the shale basins are unprofitable at 50wti

So somethings got to give in order to get to 53 years which ain't a world apart from 40 years.

We have to acknowledge that the cost for energy will be a more significant part of our monthly outgoings or find something different,

We dont like nuclear, we dont like coal, were souring on gas and soon we will have running water during the day and candles at night.

As for wolfcamp etc, the geological survey up move their estimates up and down like a fiddlers elbow. Its staying in the ground if it ain't profitable, that's why the estimates change routinely. Then there is the sweet spots, they assume best case EUR at all times. P90. No one else does that so the figures are politically motivated by optimism.

Inside a decade, not remotely possible. Considering the rate of demand (not withstanding cv) there is 40 years of oil left in the ground, assuming demand remains constant. Rate of replacement doesnt keep up with demand increase so likely we will be out of oil in less than 40 years. That's why it's so critical to prevent at all costs the likes of Venezuela and Iran using their oil to better their lives. Simply put, those countries are the strategic reserve of countries like US. Imagine how many barrels of oil a burgeoning economy in Iran would consume. Iraq producing 5mbod, 8 years ago they had planned to be at 11mbod by now. Makes one wonder why they are clobbered from every direction and cant achieve even modest output gains since 2015.

Have to agree with that, I'm not a Boris fan but he is a person and he is the PM of the UK, and hope for the best for him and his partner.

Who's "left" if you dont mind me asking!

I'm hoping to make a killing here with 350kshares. Not overly worried about who's expense I arrive at my profit.

You suffering from a lot of thrush deary.