Oil Slick Stuff

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My bet is Fay is headed for Georgia (if Big Oil has anything to say about it! :nuts:
Better watch out Nnutt, and think about honkering-down there! :D:D

"You're messing with the primal forces of nature here, Mr. Beal" (from the the 1970s movie: "Network"!)
 
Shell's Perdido Spar Arrives in Ultra Deepwater GOM
Shell 8/18/2008
URL: http://www.rigzone.com/news/article.asp?a_id=65585

The Shell-operated Perdido Regional Development Spar has arrived in the ultra deepwaters of the Gulf of Mexico and is currently being secured to the seafloor in about 8,000 feet of water. Once completed, the Perdido spar will be nearly as tall as the Eiffel Tower and weigh as much as 10,000 cars. Perdido will be the deepest oil development in the world, the deepest drilling and production platform in the world and have the deepest subsea well in the world.
Positioning the spar into place required carefully-orchestrated maneuvers.

Perdido will be a fully functional oil and gas platform with a drilling rig and direct vertical access wells, full oil and gas processing and remote subsea wells. The facility is designed to produce 100,000 barrels of oil per day and 200 million standard cubic feet of gas. The production from these fields will be transported via new and existing pipelines to US refineries.

The Perdido Spar will bring in production from three fields: Great White, Silvertip and Tobago. These fields are located in 10 Outer Continental Shelf blocks in Alaminos Canyon, approximately 200 miles south of Freeport, TX. This development will provide the first Gulf of Mexico commercial production from a Paleogene reservoir. All three fields have been granted production units from the Minerals Management Service and the accumulations are completely in US waters, some eight miles north of Mexico international borders. First production from Perdido is expected around the turn of the decade.
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Discovery well drilled in 2004; D&P platform in place today....first production in TWO YEARS. The permitting process began FIVE YEARS prior to the first discovery well being drilled (2004). Just a little information on the timeline involved for drilling new unexplored unproven areas - if and when the ban is lifted.
 
nnuut said:
Like I say:
OIL<50 = Beautiful, <60 = OK,.60-65 = Worry, >65 = BAD, >74= UGLY, Over $80 = PRICE FIXING:suspicious:
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Libya Sees OPEC Holding Steady Oil Output
AFX News Limited 8/19/2008
URL: http://www.rigzone.com/news/article.asp?a_id=65628

OPEC is unlikely to change its oil output at a meeting next month and a decline in oil prices will probably be temporary, the top oil official for OPEC member Libya said on Tuesday.

Oil has slid to about $112 a barrel from a record high of $147.27 last month, weighed in part by slowing demand. The drop has prompted some OPEC members, such as Iran, to say the group is pumping too much.

"We are not thinking of doing anything, but we are watching the market carefully," Shokri Ghanem, chairman of Libya's National Oil Corporation, told Reuters by telephone. OPEC meets on Sept. 9 in Vienna.

"We think it is not going to continue, this sliding down, and it will probably rebound," he said, referring to the oil price.

The Organization of the Petroleum Exporting Countries, source of two in every five barrels of oil, boosted supply for the third month in a row in July as Saudi Arabia raised output far above its informal OPEC target.

Iran, traditionally a supporter of measures likely to boost oil prices, has blamed oversupply for pushing prices down and said OPEC should discuss observance of targets at its next meeting.

Ghanem said factors beyond supply and demand, such as political tension and speculation, remained an influence for prices.

"The market is more than well supplied," he said. "We also think speculation is important and will look at that."
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...
 
luv2read said:
Discovery well drilled in 2004; D&P platform in place today....first production in TWO YEARS. The permitting process began FIVE YEARS prior to the first discovery well being drilled (2004). Just a little information on the timeline involved for drilling new unexplored unproven areas - if and when the ban is lifted.
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I thought it would take 10 years?carsonCarnac.jpg

luv2read said:
...
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Stinking PRICE FIXING, it is ILLEGAL in the USA Ya know!! :cool:
 
nnuut said:
luv2read said:
Discovery well drilled in 2004; D&P platform in place today....first production in TWO YEARS. The permitting process began FIVE YEARS prior to the first discovery well being drilled (2004). Just a little information on the timeline involved for drilling new unexplored unproven areas - if and when the ban is lifted.
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I thought it would take 10 years?
Click to expand...
At least.
Permitting process for exploration begins approximately 5 years before first discovery well is drilled. So that would be 1999.

First discovery well drilled in 2004 (temporarily P&A).

Drilling & production platform (Perdido Spar) on location August 2008 (4 years after discovery).

First production estimated for 2010 (earliest).
 
Just pulling your chain!!! Now they can put multiple rigs in the same Lot which will not take that long to be up and drilling. I think it's possible to do this in a third of the time if they have the right incentive.:D oilrig.gif
 
nnuut said:
Just pulling your chain!!! Now they can put multiple rigs in the same Lot which will not take that long to be up and drilling. I think it's possible to do this in a third of the time if they have the right incentive.:D
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The development permitting process still has to be done for each new well or group of wells - even from that multi-well platform, and that takes time. Development permits are entirely separate from exploration permits. Regulatory process and OCSLA still have to be observed. First production 2010 earliest.:nuts:
 
Market Update

12:30 pm : Crude oil prices extend their gains, now up 2.4% to $115.50 per barrel. There does not appear to be a specific catalyst for the buying interest, although the gains coincided with a decline in the Dollar Index (-0.4%). Crude prices were down as much as 1.1%, and the dollar was up as much as 0.4% in earlier trade.
As a result, oil price sensitive areas have come under selling pressure, with the Amex Airline Index tumbling 7.1%. Conversely, the energy sector is rallying, up 3.2%, which is helping the broader market to recover off session lows.DJ30 -127.91 NASDAQ -29.14 SP500 -11.71 NASDAQ Adv/Vol/Dec 666/778 mln/1976 NYSE Adv/Vol/Dec 755/729 mln/2285
http://finance.yahoo.com/marketupdate/overview?u
 
AP
Oil jumps above $115 after dollar weakens vs euro
Tuesday August 19, 12:46 pm ET
By Stevenson Jacobs, AP Business Writer Crude oil jumps above $115 a barrel after dollar weakens vs euro, heating oil surges
NEW YORK (AP) -- Oil prices rebounded Tuesday, jumping back above $115 barrel after the dollar weakened against the euro and a rally in heating oil attracted new buyers into energy markets. Light, sweet crude for September delivery rose $2.73 to $115.60 in morning trading on the New York Mercantile Exchange, after alternating between positive and negative territory earlier in the day. The September contract expires Wednesday, adding to the volatility.[more]
http://biz.yahoo.com/ap/080819/oil_prices.html
 
nnuut said:
2010!! That's OK, just let them start the process and we go below $80 a barrel!!!quote]

OPEC's "comfort level" is $120. Don't count on below $110 no matter how many wells we drill, OPEC will simply cut production by the amount of "new oil" on the market. They're not going to leave that 1M BOPD OPEC surplus on the market if they're convinced that's even partially responsible for the price drop, they want to preserve their profit margin. Iran is already squawking and Iraq is coming online with contracts. Chavez is in the picture all over the place.
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luv2read said:
nnuut said:
2010!! That's OK, just let them start the process and we go below $80 a barrel!!!quote]

OPEC's "comfort level" is $120. Don't count on below $110 no matter how many wells we drill, OPEC will simply cut production by the amount of "new oil" on the market. They're not going to leave that 1M BOPD OPEC surplus on the market if they're convinced that's even partially responsible for the price drop, they want to preserve their profit margin. Iran is already squawking and Iraq is coming online with contracts. Chavez is in the picture all over the place.
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OK have it your way "Dark Cloud", all is DOOM and GLOOM!!!:suspicious:rain5.gif
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PlayStation 3 helps discover oil


playstation-3.jpg
The technology used in the PlayStation 3 is being used to help explore and find oil much faster than before. Woohoo!

Using IBM technology, specifically the IBM PowerXCell 8i, which was originally developed for the Sony Playstation, a Spanish Oil company reports that specialized "Cell" microprocessors are speeding the search for oil and natural gas reserves located 30,000 feet below the Gulf of Mexico up to 6 times faster than current technology. Repsol and the Barcelona Supercomputing Center are using a process known as Reverse Time Migration (RTM), a sophisticated subsurface imaging tool accepted by the oil industry.

It has proven essential for imaging areas of complex subsurface geological structure, such as the rich hydrocarbon provinces of the deep waters of the Gulf of Mexico, offshore Brazil and West Africa. These basins are the new frontiers in oil exploration, where significant oil reserves are present below thick masses
of salt that have made seismic imaging difficult. But the new technology
will accelerate and streamline oil and gas exploration in these promising regions by several orders of magnitude compared to current industry
methods.

Great! Now we just need to network up the millions of PS3s around the world to assist in oil exploration and we'll have this high oil price problem licked in no time!

oil-platform.jpg
Of course, just because we find it doesn't mean we can 'drill' for it. Darned extreme environmentalists! Hurricane Katrina hit the Gulf of Mexico and last I checked not a drop of oil was spilled by any of the oil platforms in the Gulf. And don't get me started on ANWR and offshore oil drilling.

Anyway, the project is sponsored by oil and gas company Repsol and the Barcelona Supercomputing Center. The U.S. Department of the Interior's Minerals Management Service estimates that these ultra deep Gulf waters holds approximately 56 billion barrels of oil equivalent (oil and natural gas), which, at $130/barrel, would be worth over $7 trillion and would meet the entire U.S. demand for oil and gas for about five years.

Sounds too good to be true, especially with the Democratic party blocking any attempts to drill for oil in U.S. territories. Then again, it's a Spanish company doing the oil drilling and not the U.S., which apparently is beholden to extreme enviro-wacko views even though the vast majority of Americans want us to drill. Heck, even the Chinese will be drilling in the Gulf of Mexico. ABTUSACD (Anybody But The USA Can Drill) apparently. Well, if you believe oil is bad and causing global warming, I have news for you --- China and other countries are doing to drill off the coast of the U.S. anyway.

Check out the funny The No Zone chart displayed on the U.S. Senator floor to show Congressional stonewalling.

 
3x's the oil from one platform ! Now that should increase the barrels
per day quota. If only we could find a way the increase our refinary
capabilities. Or do they just need to be more productive, ie...........
as swift kick in the oil pan !
 
squalebear said:
3x's the oil from one platform ! Now that should increase the barrels
per day quota. If only we could find a way the increase our refinary
capabilities. Or do they just need to be more productive, ie...........
as swift kick in the oil pan !
Click to expand...
Probably just a swift Kick!!:cool:
 
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