The Briefing Room
General Category => Science, Technology and Knowledge => Energy => Topic started by: IsailedawayfromFR on July 31, 2019, 05:10:25 pm
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Am always skeptical when it comes to consultant groups making a name for themselves like this might be.
Its incentive for big news here might be they are still relatively new and client base is primarily international.
Having said that, the slowdown in activity and dwindling private equity dollars might be reflected in what the firm is saying: the Permian is overhyped.
Analytics firm finds Permian basin statistics misleading
Oil and gas companies under-reported hydraulic fracturing activity for producing light, tight oil by more than 20% in the Permian basin during 2018, estimates Kayrros, a data analytics company serving energy markets.
Paula Dittrick
Jul 23rd, 2019
Oil and gas companies under-reported hydraulic fracturing activity for producing light, tight oil by more than 20% in the Permian basin during 2018, estimates Kayrros, a data analytics company serving energy markets.
Using optical and synthetic aperture radar imagery tracking coupled with proprietary algorithms to identify rigs and fracturing crews, Kayrros found that more than 1,100 Permian wells were completed but not reported through state commissions or FracFocus, a public repository for information on fracturing chemicals.
https://www.ogj.com/drilling-production/production-operations/unconventional-resources/article/14036674/analytics-firm-finds-permian-basin-statistics-misleading (https://www.ogj.com/drilling-production/production-operations/unconventional-resources/article/14036674/analytics-firm-finds-permian-basin-statistics-misleading)
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That stuff adds up.
Assuming a cost of $5 million per horizontal completion, 2018 operator expenditure was underestimated by as much as $4.1 billion. This also means the sand and water intensity of Permian tight oil production in 2018 was 23% greater than previously recorded. Sand demand was underestimated by 9.2 billion lb and water by 12.5 billion gal.
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That stuff adds up.
Yes it does.
Scouting firms used to report drilling rig activity as the measure of health of industry activity. Normally easy to see derricks than a frac spread.
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Explosion and Fire at Exxon Facility in Baytown, Texas
https://t.co/GBfpjFAGrO?amp=1
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Explosion and Fire at Exxon Facility in Baytown, Texas
https://t.co/GBfpjFAGrO?amp=1
@rustynail
That needs its own thread.