And there was much rejoicing in the land.... Gas Prices

[Strychnine]

Guy on the next street over from me has a bro dozer with a sticker across the windshield that reads... "Oil field trash, spendin oil field cash" he ain't no mo.

[KBScobravert]

Right? Luckily our crew has stayed busy with Cimerex. We just don't get the hours that they used to let us have. So same work load just not as much cheese at the end of the week.

Sent from my SAMSUNG-SM-G890A using Tapatalk

[Strychnine]

Rig count this week...

Ready for this...

Net zero.
Oil +17
Gas -17


Oh and the House and Senate both passed a bill with the export ban repeal attached to it last night.

House, Senate pass budget bill with crude export ban repeal intact


WASHINGTON, DC, Dec. 18
12/18/2015
By Nick Snow
OGJ Washington Editor

The US Senate approved an omnibus budget bill including language which would repeal the 40-year-old ban on exports of domestically produced crude by 65 to 33 votes. The Dec. 18 action came hours after the House passed the same measure by 316 to 113 votes.
The bill now heads to the White House, where US President Barack Obama is expected to sign it. It won crucial support from several Democrats because it also would revive expired tax credits for alternative energy sources ranging from wind and solar to biodiesel.
Leading oil and gas industry associations immediately expressed their approval. “This is a historic moment in our energy renaissance,” American Petroleum Institute Pres. Jack N. Gerard said. “Lifting this ban will help put downward pressure on gas prices, create jobs, grow our economy and lower our trade deficit.”
“The US is producing more energy than ever before, with production at its highest levels in decades,” Independent Petroleum Association of America Pres. Barry Russell observed. “The ability to export surplus US crude oil is a much needed shot in the arm for America’s producers and the economy, and will generate significant savings for American families and consumers.”
“The American consumer is the beneficiary of today's decision by Congress,” said ConocoPhillips Chief Executive Ryan M. Lance, who also chairs Producers for American Crude Exports (PACE). “It's particularly important at a time when our industry is experiencing a period of extreme volatility and uncertainty
More work remains
National Ocean Industries Association Pres. Randall B. Luthi also applauded the congressional actions, but added that more needs to be done. “About 87% of America’s federal offshore areas remain closed off to oil and gas exploration and production. This is inexcusable and, quite frankly, backwards,” he said.
Other crude export ban repeal advocates welcomed the House and Senate votes. “Business leaders representing every sector of the US economy applaud Congress for voting to end the outdated ban on American oil exports,” said American Electric Power Co. Chief Executive Nicholas K. Akins, who chairs the Business Roundtable’s Energy and Environment Committee.
“By voting to lift the ban on oil exports, Congress has made it possible to unleash American energy around the world,” said Karen Harbert, president of the US Chamber of Commerce’s Institute for 21st Century Energy.
“By embracing a modernized policy that recognizes our newfound energy abundance, we are opening the door to increased jobs, economic growth, and the ability to act as a stable and secure energy supplier for our key allies,” said Margo Thorning, senior policy advisor for the American Council for Capital Formation

[GrayStangGT]

[IMG][/IMG]

[SBFORDTECH]

[IMG][/IMG]

I was eating Raman noodles when things were good. I've got bad habits though....

[mstng86]

So I can NOT have $1 per gallon gas?

[Snatch Napkin]

$1.52 a gallon for diesel. That was nice at 185 gallons.

[asphaltjunkie]

$1.52 a gallon for diesel. That was nice at 185 gallons.

Where the hell was this at?

[Snatch Napkin]

Where the hell was this at?

At the TA in Greenwood, LA.
The fuel card I use gets discounts at certain places. They're always different, so I check my app daily to see if I'll be passing by any deals.

Regular price was $2.26.

[YALE]

So I can NOT have $1 per gallon gas?

It'll probably slip up a little from here, but it'll force OPEC's hand to keep production up and prices low globally.

[Jimbo]

Rig count this week...

Ready for this...

Net zero.
Oil +17
Gas -17


Oh and the House and Senate both passed a bill with the export ban repeal attached to it last night.

that was unexpected. I am curious as to where the 17 oil were brought out.

[YALE]

that was unexpected. I am curious as to where the 17 oil were brought out.

The removal of the export ban. We can produce oil cheaper than a lot of countries.

[Ruffdaddy]

The removal of the export ban. We can produce oil cheaper than a lot of countries.

I cant imagine the removal of the ban impacted the count that quick. Maybe someone proceeded at risk, but even brent is low enough to not warrant a 17 rig jump for luquids when storage capacity is starting to near the limit in multiple countries. Is there anything supporting this theory?

[Strychnine]

I am curious as to where the 17 oil were brought out.

Here are the OIL directed changes for that count (no mention of plays with no change)

Arkoma Woodford +1
Barnett +1
Cana Woodford +2
DJ-Niobrara +1
Eagle Ford +2
Granite Wash +1
Permian +5
"Others" +5

Mississippian -1

Net +17

[Strychnine]

Also:

USGS: Barnett Shale gas supply twice as large as thought


NORTH TEXAS – Finally, some good news for local oil & gas producers: The U.S. Geological Survey (USGS) now estimates that the Barnett Shale – where the “fracking” boom was born – holds almost twice as much recoverable natural gas than their last estimate 12 years ago.

In 2003, when the USGS last issued its assessment of how much undiscovered natural gas and natural gas liquids are beneath the Barnett Shale, they relied on estimates of gas recovered through vertical drilling. Since then, the industry has switched primarily to horizontal drilling paired with hydraulic fracturing (commonly called “fracking”) to recover gas from the Barnett Shale geologic formation.

The USGS in 2003 estimated the Barnett Shale held 26.2 trillion cubic feet of undiscovered natural gas and 1.0 billion barrels of undiscovered natural gas liquids.

Today the USGS estimates the Barnett shale holds 53 trillion cubic feet of shale natural gas, 175 million barrels of natural gas liquid and 172 million barrels of shale oil. The agency did not assess potential oil resources back in 2003.

Since 2003, more than 16,000 horizontal wells have been drilled into the formation. Those wells have helped produce more than 15 trillion cubic feet of natural gas and 59 million barrels of oil in the Barnett.

The bad news – of course – is the price for which those commodities are selling. A worldwide glut of oil has dropped prices below $35 a barrel. Mild winter forecasts and a larger-than-expected supply of natural gas has sent futures lower for the seventh straight session.

Producers and mineral rights owners can at least take comfort in knowing there’s more oil and gas below us as to help ride out the downturn – however long it lasts

And just a cool picture



Monahans Sandhills: The pump jack in the photo was buried in sand and the oil company gave up on it because sometimes its completely buried as the dunes shift.