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Archer

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Everything posted by Archer

  1. I’ve answered it a couple times directly and then expanded on it why it’s necessary, I wasn’t trying dance around any question Again The purpose of fracing is to produce more fluids. You can not produce just more oil or gas you get everything in one big commingled mess. By producing more oil you will produce more water. As I mentioned up thread you will produce anywhere from 1 barrel of water per barrel of oil to 9 barrels of water per barrel of oil. If a frac increases your oil production from 500 barrels per day to 1,000 barrels per day you will also double your water production.
  2. The very nature of hydraulic fracturing is to increase the perm and connectivity of a reservoir so that it can flow more fluid. If a well didn’t produce more fluid after a frac companies wouldn’t be spending millions of dollars to do it.
  3. Yeah once it is pumped into the rock the most pure clean water is going to come out a brackish hydrocarbon cut mess. The frac water is being pushed thousands of feet into the reservoir and is mixing with the in situ fluids. What flows back is a blend of oil, reservoir water, and frac water.
  4. That’s a bit of a strawman question and I’ll explain why I see it that way. With hydraulic fracturing an operator may pump a million barrels of water into the well during the frac job so assuming all thing equal you will get a million extra barrels back (very basic and somewhat flawed assumption). Why I am saying it’s not a completely valid question is that in the onshore US the old reservoirs that could flow naturally without stimulation or with very minimal stimulation are drilled up. The shale reservoirs that are being drilled and produced now do not have the ability to flow without stimulation. So there is no “traditional” drilling methods that can be used on these wells. The US is currently producing 12 million barrels of oil a day, 9 million of that is coming from shale reservoirs. https://www.reuters.com/business/energy/us-permian-oil-production-due-rise-dec-record-eia-2022-11-14/ Without hydraulic fracturing we are looking at 3 million barrels of domestic production. Companies would probably put capital to other projects so maybe that gets to 4 or 5 million. Whatever it is we would be importing massive volumes of crude and everyone would be praying for $4/gal gas again.
  5. I have not worked Ops in Midland so I am not sure on their cuts or decline profile. I see water cuts from 40-90% but 60-80% is probably most common. We’re operating everything from deep Wolfcamp to shallow Avalon wells. Focus on BS and Wolfcamp like everyone
  6. That’s not what I see on the water production. I work in the Delaware. 63% of our total water production is from wells drilled before 2022, 37% is from wells that we brought online in 2022. We have 30 two mile wells on active flowback today they represent 10% of our produced water totals. For a small well count operator flowback water will dominate the volumes but once an operator has hundreds of producing wells across multiple drill years the flow back water becomes a much smaller piece.
  7. All of the major operators have massive water recycling projects in all active drilling areas. Just Google “company sustainability report “. Here are a few: EOG: 90%+ recycled water use https://www.prnewswire.com/news-releases/eog-resources-publishes-2021-sustainability-report-301643136.html Diamondback 29% recycled water use https://www.diamondbackenergy.com/static-files/faf5ab25-5ab5-4404-8c04-c7bd387ae418 Chevron 99% recycled water use in Permian https://www.chevron.com/-/media/shared-media/documents/chevron-sustainability-report-2021.pdf Devon 53% recycled water use https://dvnweb.azureedge.net/assets/documents/Sustainability/DVN_2022_SustainabilityReport.pdf The problem is you get all of the frac water back in the first few months and then you have 20 years of additional water production and eventually you are done fracing to recycle into and are still producing water that has to go somewhere.
  8. Which one of your neighbors sold their water and are now upset?
  9. You can get them at Academy (and probably elsewhere) with a cooler on the other side of the table. https://www.academy.com/p/magellan-outdoors-shiner-tailgating-xl-director’s-chair-134613056
  10. Didn’t know the thought of a dirty outside would be that concerning to people. Glasses get a complete hot water and soap wash and then get put up. Glass washer can knock out any dust that may have settled between washes. It also cleans a glass when I’m switching booze. I’ll wash a Glencairn glass when I change bourbons during a night, will also use it to wash out the shot glass as I go between booze for me and the wife. Have you guys not been to a brewery and seen them wash your glasses before filling?
  11. We bought a glass washer on Prime Day to replace our soap dispenser , best random impulse buy in a long time. HGN Metal Kitchen Sink Glass Rinser,Faucet Glass Rinser for Kitchen Sinks,Bottle Washer,Kitchen Sink Accessories,Stainless Steel,Brush Nickel https://a.co/cUVzJxI
  12. Mine started in 2016 and lasted to 2021 but I think it was 8 rounds. Averaged every 6 months. Fun times.
  13. Fix it I still miss my 2003 GMC and plan to repair my 2004 Wrangler until it falls apart. My 2014 F150 scares me and it’s not as technologically advanced as the new ones.
  14. I’ve watched our production department get cut in half since 2016, single engineers are now handling more production than the entire BU made in 2015 when we had 10+ engineers.
  15. The conversions are really dependent on your marginal tax rate. If I have $2MM in an IRA but I’m in the 35-37% tax bracket I don’t want to lock in that high tax rate to convert to a Roth. I’d convert up to whatever tax rate I felt was reasonable, probably 22-24%. With RMDs starting at 73 you should have a decade or so to convert from traditional to a Roth at a presumably lower tax rate than your peak earning years. Depending on when I retire I plan to start doing Roth conversions at 55-59 when I start pulling out of my 401K.
  16. Only if it was the Sugar kind and I could quit work.
  17. It varies from person to person. I lost my dad last week and if I’m being honest I was more fucked up when I lost my dog in 2019. My relationship with my dad wasn’t great but it wasn’t bad. I was appreciative of the cards we received after our dog passed, I took a few days PTO to get away so if you could afford to let her have a bereavement day or two I’m sure that would be appreciated.
  18. Thanks for the book recommendation, I’ll add it to my Amazon list.
  19. Fixed that for you
  20. And there were 21 people killed in ~90 minutes in Uvalde using an AR. My post wasn’t to compare any of the events it was to respond to the comment that there was no need for regulations on bolt action rifles because they aren’t used in mass shooting events except for the one time where one was used for a mass shooting on the UT campus.
  21. Umm you sure about that? https://en.m.wikipedia.org/wiki/University_of_Texas_tower_shooting
  22. I sold my RSUs a couple months ago and missed another 25% run up on one and almost 60% on another. Cost me six figures selling too early; from the risk prospective I know it was the right move but man I’m kicking myself watching the stock just keep going up. I’m still holding all of my other oil companies but they were small positions compared to my RSUs.
  23. I don’t pay much attention to D&C cost in my new role so I found a couple AFEs on my phone for what appeared to be 2 mile wells and they were $6, there is a chance they were 1.5 mile instead of 2 I didn’t check the entire approval package. I’ll look better tomorrow on my computer. I’d say 2 mile is the standard now, 1 mile is the exception and 3 miles the new experiment. I wouldn’t be surprised if in a couple years 3 miles is the standard, I know we are putting a few in the ground.
  24. Pretty similar in Delaware 10,000’ TVD and 10,000’ laterals drilling Wolfcamps.
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