dinardiggerisme

It is a cycle often repeated. Sorta reminds me of the Problem, Reaction, Solution scenario we so often see played out. The small independent oil company's take the financial risk of exploration and find the best acerage and aquire the leases to develop the new field. They have big plans for the new pipelines and all the other needed infrastructure. Oil prices are looking profitable at this point of the game. It is a very expensive undertaking and right in the middle of it the darn oil prices drop forcing the financially strapped independents to go belly up and the Exxon Mobils of the world end up with the small oil company's leases and make most if the profit. My dad used to tell that tale 50 years ago. Watched it play out many times since.

Sorry Thug...didnt mean to kill it.. Carry on Bro..😊

Brings back memories...my first time drilling in Alaska. Norton Sound offshore. 1984. No good warm clothes, froze my ass off for 28 days....drilled in 10 different states 1983-2003. Never Bakken. Much of it before forklifts were on location....lol My back is strong.... If you kaint get it, You kaint stay... RV any day fellers..hang in there.

I remember back in the 1979 oil boom - there were 10,000 oil workers living in a tent city on the west side of Odessa Texas....Odessa was also the murder capitol of the US there for a few years (per capita). lol...great party town then... .

a few years ago when I was buying Rial it was all over eBay.....seems not so much for sale now..strange.. Will be interesting to see what happens with it.

.....quote taken from the last great oil reserve article above... "The ‘lifting cost’ per barrel in Iraq ranges from US$2 to US$3 per barrel, according to the IEA, " Sounds about the same as the $1/bbl estimate from 2004.. Just a little 'cost of doing business adjustment'.....lol

It is good to see the 'old man Barzani' OUT. (the one with the turbine and military dress). Will be interesting to see if the 'Young King' can get it done.

Great explanation.....I was thinking it was referring to "net cost" after posting my reply. The bottom line is there is huge profit in every barrel sold wether it is $70, $50, or $30/bbl. Supposed no OPEC quota due to oil for food scam of the 1990s? Sell more if needed.

Great explanation.....I was thinking it was referring to "net cost" after posting my reply. The bottom line is there is huge profit in every barrel sold wether it is $70, $50, or $30/bbl. Supposed no OPEC quota due to oil for food scam of the 1990s? Sell more if needed. I sure hope this is not the same Brietling as the one who calls himself FRACMASTER. That one was indicted and pled guilty to running "working interest" scams on oil well investors in Texas recently. Naaa, it couldn't be the same one...lol

Great solar setup you have there bigwave... Mine is a very simple setup. 24v panels regulated by a giant rheostat. Battery voltage regulated by primary and a backup solenoid "voltage dump battery regulators". 20 deep cycle marine 100ah batteries. 3 - 24v wind turbines. Everything inside but the small frig runs straight off a 24vX12vdc transformer. I run the generator to pump water or run the vacuum etc. at my bugout cabin 12 miles from the nearest electric pole...

I remember reading the dinar forums back in 2004 and they used to say Iraq could pull a barrel of oil out of the ground and put on a transport ship for $1/bbl. Years later that number was revised to $3/bbl. Now the break even price is supposed to be $45 or $54/bbl? Not hardly.... $45 is the supposed break even price for WTI drillers where they drill 9,000 vertical ft. down to the mighty Wolfcamp formation, then another 9,000 ft. (or whatever length) lateral leg thru the middle of the shale zone, then spend many many millions more on a 35 stage frac....then the expenses continue with drilling out 35 plugs and flowback operations etc... A very expensive process !! Iraq is more like drill down 9,000 ft. and run 9 5/8" casing in the hole and produce right thru that casing...if that cost $45/bbl to get it on the ship it must be caused by more massive corruption....IM opinion.

Yep, I was driving around on some of the roads in the Delaware Basin the other day myself. Rigs and giant tanks on both sides of the road everywhere. Big trucks waiting in line for a half mile to get thru a stop sign. Major wrecks on the rural roads everyday. Two lane roads bumper to bumper for miles. Far too busy to make repairs. Crazy situation, the road more dangerous for the workers than the rigs.

Good to see this corrupt joker Barzani finally take his turbine off. Could be a good sign he was forced to make a deal? Thanks to the folks that bring the news !

As always, when the forced hiring of "Nationals" is mandated on an oilfield company. Three "Nationals" are usually hired and required to do the work of one good oilfield hand. It will be miserable for the people trying to train the "Nationals". Seen it myself several times back in the day... "can't get it, can't stay" does not apply in the foreign oilpatch.. But when you have as much recoverable oil as Iraq does, it should not be an issue...lol

They forgot to give SE New Mexico their due.....a good bit of the Permian oil comes from the massive "Delaware Basin" in SENM.....they have been drilling the DB since the 1920's.....just starting to really get it tapped good now....