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Oil Price to Rise??

the_shootist

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#41
I see what you did there - quick with official propaganda. The Houthi's are fighting for their lives and families and have been effectively fighting SA for years - now, they have defeated Saudi Barbaria.
I'm not surprised that the Saudi's are being pulled deeper into the ME smokeshow. They have been given way too many passes over the years. Are they having their own a Make Saudi Arabis Great Again epiphany over there too and taking out the SA cabal? I doubt it!
FRACKERS? They currently are profitable at $50 a barrel.
That's a new one on me! Everything I've read on the topic suggests that fracking is very costly and not at all profitable unless oil is up ~$100bbl. Was i misinformed?
 

GOLDBRIX

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#42
That's a new one on me! Everything I've read on the topic suggests that fracking is very costly and not at all profitable unless oil is up ~$100bbl. Was i misinformed?
The US price for Fracking Crude is getting closer to break even / Profit making. Most say they make money in the $65.00 + bbl.
 
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wallew

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#43
Very much misinformed. And I was incorrect. CURRENT costs make fracking viable at $40 a barrel NOW - 17:30 mark listen to a guy from SHELL discussing the costs involved (three years ago it was $65), now $40 soon to be SUB $30 a barrel in the next three years or less.


That is almost two years ago... 12/4/17
Yeah, it's Bloomberg. YEAH it's an hour. WORTH EVERY MINUTE IF YOU WANT TO KNOW MORE ABOUT FRACKING and the current oil industry.

And BIG OIL - left the fracking to the wild catters about twenty/thirty years ago (90's). The big boys have now realized their mistakes and have started looking at the Permian and other fracking fields and are about to get back in to the fracking portion of oil production in A BIG WAY. They do have deep pockets. And they will occasionally empty them to get back into the fracking play. With the costs DROPPING to frack oil, it makes perfect sense.

you can keep an eye on what is going on O&G industry - this forum is set up for the mineral RIGHTS holder. Giving owners the ability to share info and other timely processes.

https://www.mineralrightsforum.com/
 
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the_shootist

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#44
Very much misinformed. And I was incorrect. CURRENT costs make fracking viable at $40 a barrel NOW - 17:30 mark listen to a guy from SHELL discussing the costs involved (three years ago it was $65), now $40 soon to be SUB $30 a barrel in the next three years or less.


That is almost two years ago... 12/4/17
Yeah, it's Bloomberg. YEAH it's an hour. WORTH EVERY MINUTE IF YOU WANT TO KNOW MORE ABOUT FRACKING and the current oil industry.

And BIG OIL - left the fracking to the wild catters about twenty/thirty years ago (90's). The big boys have now realized their mistakes and have started looking at the Permian and other fracking fields and are about to get back in to the fracking portion of oil production in A BIG WAY. They do have deep pockets. And they will occasionally empty them to get back into the fracking play. With the costs DROPPING to frack oil, it makes perfect sense.

you can keep an eye on what is going on O&G industry - this forum is set up for the mineral RIGHTS holder. Giving owners the ability to share info and other timely processes.

https://www.mineralrightsforum.com/
Good news, I stand corrected sir. Thank you!
 

the_shootist

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#46
Another attack on a major oil refinery in Italy...must be those pesky Iranians again. Who else would want war in the ME?

https://www.rt.com/news/468986-italy-oil-refinery-blast/

Flames & smoke as blast rocks one of Italy’s largest oil refineries
Published time: 17 Sep, 2019 10:22Edited time: 17 Sep, 2019 13:41
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FILE PHOTO: An ENI refinery Eni of Sannazzaro de' Burgondi engulfed in flames after explosion in 2016 © Global Look Press / ZUMAPRESS.com

An explosion has hit one of the largest refineries in Italy, producing huge plumes of black smoke and making the air unbreathable in the vicinity. The authorities dispatched fire engines to battle the blaze.
The ENI oil refinery in Sannazzaro de’ Burgondi, near Milan, caught fire on Tuesday morning, according to local media. People living in the area reported“a loud roar” which could be felt in neighboring municipalities.

The company activated an alarm, and local authorities sent in firefighters and closed the entire area.Later in the day, ENI said that the situation had been brought under control, adding that no one had been injured in the incident. The blaze was extinguished within hours, the company noted.

Funny that they actually show a 'file photo' of the same refinery ablaze back in 2016...that's strange!
The photos below appear to be current off of twatter.

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