To be honest i matters little how much we produce domestically as the price is set on the international markets. If the price goes to low they shut in the taps to bring the price back up. The only way we could get lower prices would be to take production under state control and that will never, ever happen. Even state owned operators like Pemex, Petrobras and Aramco went private as the saw state ownership doesn’t work
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My point is that the leases are competing for drilling companies.
Energy companies hire drillers. Drillers do not own leases they are service companies. So the drillers drill then you have cementing contractors, wire line companies, logging companies, casing crews etc
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Yes, I know that. If the drillers are in demand, what do you do?
The Climate always changes… The earth has been hotter and colder long before man was around.
Are we still in an ice age? lol!
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Started construction moved to transportation and installation, hook up and commissioning now I do end of field life and decommissioning. Basically I now shut down and remove facilities.
Congratulations, that doesn’t answer my question.
Sorry misunderstood your question. Do you mean no roughnecks or no MODU? Regards personal well we haven’t trained folks so we have a shortage of skilled workers so we pay more money same with equipment like MODU’s. The result is the rates go up and the energy companies either commit to long term contracts or start a bidding war for spreads.
I mean something is making those other areas you mentioned more attractive to drilling companies.
What would make our areas more attractive than those?
I would suspect regulatory costs and friendly to exploration and production minded governments are a factor.
Apart from third world countries like Nigeria we, under BSEE And BOME, have the most lax regulatory structure in the world
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Attractive to drilling? I find that hard to believe.
You forgot EPA regulations.
Nowhere else does it only take 90 days to geta permit
I find it hard to believe they’re getting permits in 90 days.
Aye BSEE are getting very efficient. Taken a good few folks from the industry to help.
Thought this maybe of interest it’s the offshore rig count.
Total Gulf of Mexico Rig Count.
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https://www.meidastouch.com/news/u-s-production-of-crude-oil-hits-record-high
“Yes, Joe Biden just broke Donald Trump’s record of daily domestic crude oil production, which is now higher than it was pre-Covid. When Biden took office it was 11 million barrels a day.”
“The average price of gasoline hit $3.29 per gallon in the U.S. during Thanksgiving week, 10% less than the same time last year, 13% lower than last year when adjusted for inflation, and is continuing to fall. Increased supply of crude and falling demand for gas worldwide is contributing to lower gas prices“
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Toxic
He’s such a moderate.
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“aMeRicA neEd naP!”
