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Keep Calm & Frack On!

JimVT

Bronze Member
GOLD Site Supporter
one of bad things is oil companies don't like drilling in the us because of all the high taxes. the us is forcing them out.
 

tiredretired

The Old Salt
SUPER Site Supporter
one of bad things is oil companies don't like drilling in the us because of all the high taxes. the us is forcing them out.

A new age will Donald in usher,
Where each Freeman can be a gold rusher.
This Earth's full of treasure
For our pleasure and leisure,
So step lively, lads! It's a gusher!
 

bczoom

Super Moderator
Staff member
GOLD Site Supporter
Let's hope this find doesn't detract from drilling in PA, OH and WV. The infrastructure is in place but drilling came to a halt a few years back when petroleum prices dropped so much that extracting the natural gas wasn't a money maker.

I just looked and our 5-year lease for drilling on our land just expired. Hoping things kick back up and we get a new lease and drilling begins again.
 

EastTexFrank

Well-known member
GOLD Site Supporter
I just looked and our 5-year lease for drilling on our land just expired. Hoping things kick back up and we get a new lease and drilling begins again.

The oil drilling business has always been a series of booms and busts. Hold on to the lease. Your turn will come round again.
 

bczoom

Super Moderator
Staff member
GOLD Site Supporter
Can't hold the lease as it was for a specific term of 5 years which just expired.

I do have high hopes that they'll look to our specific area again in the future. Shell Oil is in the processing of building a multi-billion dollar cracker plant about 15 miles from me. This cracker plant will break down ethane gas and from it, create polyethylene plastics.

The good news for me is that the main gas line that feeds that plant (once it goes online in about a year) goes right through my land. I'm hoping when they start drilling again, they pick land (like mine) that's right on that main line.
 

mla2ofus

Well-known member
GOLD Site Supporter
I read on the news the Saudi's have already warned Trump that he needs to keep buying their oil. It might just be a challenge to him which he doesn't usually seem to back away from.
Mike
 

tiredretired

The Old Salt
SUPER Site Supporter
I read on the news the Saudi's have already warned Trump that he needs to keep buying their oil. It might just be a challenge to him which he doesn't usually seem to back away from.
Mike

Good way to piss off the Donald royally, try and intimidate him. I wish the Saudi's good luck with that. NOT!! :yum:

The ragheads got one hell of an education coming and it can't come soon enough.
 

mla2ofus

Well-known member
GOLD Site Supporter
Don't know that much of markets, but it seems to me with the low price of oil and if they cut back supply they will get even less $$.
Mike
 

EastTexFrank

Well-known member
GOLD Site Supporter
Don't know that much of markets, but it seems to me with the low price of oil and if they cut back supply they will get even less $$.
Mike

That's right but there are circumstances where they have done just that before. It used to be that it cost the Saudi's about $3 a barrel to produce oil. Add on transport, reinvestment and other expenses and it probably still only costs about $8 a barrel to produce. So, they still make a healthy profit but not their usual "killing". They also have tons of cash stashed all over the world so their attitude has always been that if they drive down the price of oil, they can stand it a lot longer than whoever they are pissed at.
 
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