Oil Price

[79ford]

http://www.caodc.ca/rig-counts-drilling-dr-week

Originally Posted by coreya3212

Hmmm. Says that investment in Alberta is shyed away from due to provincial levies.... That can't be accurate. Many folks on AO have assured me many times that the lack of investment is due to oil price per barrel solely. Who's is lying to me?

Saskatchewan has posted lousier rig utilization rates (drilling) than alberta..... The supposed shift of drilling to saskatchewan hasnt happened like everyone warned and their royalties are even cheaper than albertas! Lol

[JamesB]

Originally Posted by 79ford

http://www.caodc.ca/rig-counts-drilling-dr-week



Saskatchewan has posted lousier rig utilization rates (drilling) than alberta..... The supposed shift of drilling to saskatchewan hasnt happened like everyone warned and their royalties are even cheaper than albertas! Lol

Well maybe the shift went south where it is even cheaper to drill?

[Deer Hunter]

Originally Posted by 79ford

http://www.caodc.ca/rig-counts-drilling-dr-week



Saskatchewan has posted lousier rig utilization rates (drilling) than alberta..... The supposed shift of drilling to saskatchewan hasnt happened like everyone warned and their royalties are even cheaper than albertas! Lol

Rigs move across the borders so comparing rig utilization percents between provinces isn't really worthwhile. Only 21% of rigs in Canada are running and this is usually the busiest time of the year.

At sub 40 oil and 2$ gas, companies aren't profitable, so the royalty comparisons don't as much matter.

[coreya3212]

79, why don't you explain what a rig utilization rate is

[79ford]

Originally Posted by coreya3212

79, why don't you explain what a rig utilization rate is

What about liberal hippy bc with the highest rig utilization rate?

[coreya3212]

Again, please explain what the rig utilization rate is.

[79ford]

Originally Posted by coreya3212

Again, please explain what the rig utilization rate is.

It's the coefficent of swamp gas light deflection off an ndp goose's left antler when it is flying south multiplied by how many people whine about coal power divided by the vapour pressure of a low fat latte served on vancouver island

The ndp goose flying south equation applies during sept-dec, thenthe spring equation is a bit tougher. It goes something like the force of gravity plus the weight of its egg and nest add X amount of weight to a parked drilling rig in saskatchewan, multiply that by the square root of the current oil price and you probably get a decent rig utilization rate assuming its spring time if it is summer time you have to wait until fall to use the sept to dec formula.

Utililization rates are pretty straight foward,lol

[coreya3212]

Yes they are, but I guess nickels hasn't explained it to you yet.

[Habfan]

Originally Posted by 79ford

It's the coefficent of swamp gas light deflection off an ndp goose's left antler when it is flying south multiplied by how many people whine about coal power divided by the vapour pressure of a low fat latte served on vancouver island

The ndp goose flying south equation applies during sept-dec, thenthe spring equation is a bit tougher. It goes something like the force of gravity plus the weight of its egg and nest add X amount of weight to a parked drilling rig in saskatchewan, multiply that by the square root of the current oil price and you probably get a decent rig utilization rate assuming its spring time if it is summer time you have to wait until fall to use the sept to dec formula.

Utililization rates are pretty straight foward,lol

I'm impressed !

[Sundancefisher]

Originally Posted by coreya3212

Yes they are, but I guess nickels hasn't explained it to you yet.

I am glad someone else asked the obvious. The response was expected.

If the guy asked...there are lots of us who could tell him.

[hal53]

Originally Posted by Sundancefisher

I am glad someone else asked the obvious. The response was expected.

If the guy asked...there are lots of us who could tell him.

Absolutely zero interest in facts, only in the reading material in the bathroom at work. Kind of reminds me of a kid that used to get beat up a lot at school.....

[Sundancefisher]

Originally Posted by hal53

Absolutely zero interest in facts, only in the reading material in the bathroom at work. Kind of reminds me of a kid that used to get beat up a lot at school.....

Yup. There is a reason people are not asking him what he does.

Shame really that he doesn't ask more questions. Life's experiences is what define us. Sadly kids today seem to prefer to get there life experiences from the Internet....believe it is all true...and that it is equivalent.

[79ford]

Originally Posted by hal53

Absolutely zero interest in facts, only in the reading material in the bathroom at work. Kind of reminds me of a kid that used to get beat up a lot at school.....

I would imagine caodc publishes facts, same with newspapers etc.

At any rate, anyone out of work is probably just not looking hard enough for a job. The un employment rate is barely 7% which is historically pretty low

And 40$ oil is technically 52$ canadian so any company not making money should be squeezing service costs to make things work. The service sector is what makes oil un economical, maybe rig labour should go back to 14$ hr like it was in the 1990's? And dust bunnies should be cementing for a reasonable price not an 'oilfield price'.

[hal53]

Originally Posted by 79ford

I would imagine caodc publishes facts, same with newspapers etc.

At any rate, anyone out of work is probably just not looking hard enough for a job. The un employment rate is barely 7% which is historically pretty low

And 40$ oil is technically 52$ canadian so any company not making money should be squeezing service costs to make things work. The service sector is what makes oil un economical, maybe rig labour should go back to 14$ hr like it was in the 1990's? And dust bunnies should be cementing for a reasonable price not an 'oilfield price'.

You are so lacking in experience and your own "facts" it is laughable, I will let the others reply to your comedy routine....and it is unfortunate that you were one of the many that couldn't hack it on the rigs and now are jealous of the money they EARN

[Scott h]

Originally Posted by Sundancefisher

I am glad someone else asked the obvious. The response was expected.

If the guy asked...there are lots of us who could tell him.

Okay I'll ask........what is the "rig utilization rates??"

[79ford]

Originally Posted by hal53

You are so lacking in experience and your own "facts" it is laughable, I will let the others reply to your comedy routine....and it is unthat you were one of the many that couldn't hack it on the rigs and now are jealous of the money they EARN

Taking a job drilling (as driller) would be about a 20% pay cut so yeeeah,. not really jealous

[hal53]

Originally Posted by 79ford

Taking a job drilling (as driller) would be about a 20% pay cut so yeeeah,. not really jealous

So then you would be in favor of taking a large pay cut yourself, as you seem to be part of the problem?

[79ford]

Originally Posted by hal53

So then you would be in favor of taking a large pay cut yourself, as you seem to be part of the problem?

Nah not really, the company i work for is still making billions.

[ESOXangler]

Originally Posted by 79ford

Nah not really, the company i work for is still making billions.

At plastics is on the up now but it won't be one day.

[79ford]

Originally Posted by ESOXangler

At plastics is on the up now but it won't be one day.

It isnt AT gotta think alittle bigger

[I_forget]

Originally Posted by 79ford

I would imagine caodc publishes facts, same with newspapers etc.

At any rate, anyone out of work is probably just not looking hard enough for a job. The un employment rate is barely 7% which is historically pretty low

And 40$ oil is technically 52$ canadian so any company not making money should be squeezing service costs to make things work. The service sector is what makes oil un economical, maybe rig labour should go back to 14$ hr like it was in the 1990's? And dust bunnies should be cementing for a reasonable price not an 'oilfield price'.

Only synthetic crude can fetch $40 per barrel right now. Western Canada select is at $35 per barrel CAnadian dollars. That's only $26-$27 US.

[coreya3212]

The empty jug makes the most noise. Proven time and again.

[79ford]

Originally Posted by coreya3212

The empty jug makes the most noise. Proven time and again.

The oil price is low, and no matter how much people cry and moan and point fingers the fact is it is time to pull the socks up and start cutting rates and costs for services etc. Service providers cutting cost can make oil profitable, pumping oil doesnt cost much its the over inflated service costs killing off oil projects. Tarsand projects were getting cancelled at 100$ oil due to service/construction costs what makes you think the government has anything to do with these issues? Statoil, shell and Total were cancelling billions in projects under the harper/provincial pc rein while oil was 100$.

It is entertaining to see the moaning and crying over the problem of low oil prices... everyone acts like the patch would be okay if the pc or wr got elected hahaha! And the oil glut would magically dissapear, oil prices would rise and everyone could get back to pumping every last barrel they can.

Supply and demand girls, supply and demand.... its what they said when oil was 100$, only with alot less crying and finger pointing

[I_forget]

Originally Posted by 79ford

The oil price is low, and no matter how much people cry and moan and point fingers the fact is it is time to pull the socks up and start cutting rates and costs for services etc. Service providers cutting cost can make oil profitable, pumping oil doesnt cost much its the over inflated service costs killing off oil projects. Tarsand projects were getting cancelled at 100$ oil due to service/construction costs what makes you think the government has anything to do with these issues? Statoil, shell and Total were cancelling billions in projects under the harper/provincial pc rein while oil was 100$.

It is entertaining to see the moaning and crying over the problem of low oil prices... everyone acts like the patch would be okay if the pc or wr got elected hahaha! And the oil glut would magically dissapear, oil prices would rise and everyone could get back to pumping every last barrel they can.

Supply and demand girls, supply and demand.... its what they said when oil was 100$, only with alot less crying and finger pointing

Name a project that was cancelled at $100 oil. Not including upgraders. Lack of pipeline capacity and access to ocean ports is a bigger hurdle for oilsands projects than high labor costs. Labor costs will never drop as much as you hope. Because good luck getting people to work in fort Mac without a premium wage.

[Sundancefisher]

Originally Posted by 79ford

The oil price is low, and no matter how much people cry and moan and point fingers the fact is it is time to pull the socks up and start cutting rates and costs for services etc. Service providers cutting cost can make oil profitable, pumping oil doesnt cost much its the over inflated service costs killing off oil projects. Tarsand projects were getting cancelled at 100$ oil due to service/construction costs what makes you think the government has anything to do with these issues? Statoil, shell and Total were cancelling billions in projects under the harper/provincial pc rein while oil was 100$.

It is entertaining to see the moaning and crying over the problem of low oil prices... everyone acts like the patch would be okay if the pc or wr got elected hahaha! And the oil glut would magically dissapear, oil prices would rise and everyone could get back to pumping every last barrel they can.

Supply and demand girls, supply and demand.... its what they said when oil was 100$, only with alot less crying and finger pointing

We have no tar sands in Alberta. Closest tar sands I am aware of is California. I want to visit there some day.

All of us here are equally pleased you are taking great enjoyment in the suffering of fellow Albertans in this very tough time.

[blacknorthernjk]

Originally Posted by 79ford

It's the coefficent of swamp gas light deflection off an ndp goose's left antler when it is flying south multiplied by how many people whine about coal power divided by the vapour pressure of a low fat latte served on vancouver island

Lol that is awesome, thank you

[coreya3212]

Originally Posted by 79ford

The oil price is low, and no matter how much people cry and moan and point fingers the fact is it is time to pull the socks up and start cutting rates and costs for services etc. Service providers cutting cost can make oil profitable, pumping oil doesnt cost much its the over inflated service costs killing off oil projects. Tarsand projects were getting cancelled at 100$ oil due to service/construction costs what makes you think the government has anything to do with these issues? Statoil, shell and Total were cancelling billions in projects under the harper/provincial pc rein while oil was 100$.

It is entertaining to see the moaning and crying over the problem of low oil prices... everyone acts like the patch would be okay if the pc or wr got elected hahaha! And the oil glut would magically dissapear, oil prices would rise and everyone could get back to pumping every last barrel they can.

Supply and demand girls, supply and demand.... its what they said when oil was 100$, only with alot less crying and finger pointing

See post 142...

I don't know anyone, on this forum or elsewhere who would not agree that the price of oil has a bearing on drilling activity, what some of us here can't understand is how some of the pinhead lefty memebers refuse to admit that govt policy also has an impact. And when you jump in about rig utilization as an indicator of activity, it is very telling just how uneducated you are.

[hal53]

Originally Posted by coreya3212

See post 142...

I don't know anyone, on this forum or elsewhere who would not agree that the price of oil has a bearing on drilling activity, what some of us here can't understand is how some of the pinhead lefty memebers refuse to admit that govt policy also has an impact. And when you jump in about rig utilization as an indicator of activity, it is very telling just how uneducated you are.

C'mon Corey it's all very simple....everybody in the patch makes too much money (except him)...we should all take a pay cut (except him), then all will be right with the world and the utilization rate will....do something I guess.......??

[Sundancefisher]

Originally Posted by coreya3212

See post 142...

I don't know anyone, on this forum or elsewhere who would not agree that the price of oil has a bearing on drilling activity, what some of us here can't understand is how some of the pinhead lefty memebers refuse to admit that govt policy also has an impact. And when you jump in about rig utilization as an indicator of activity, it is very telling just how uneducated you are.

Bingo was his name o.

[coreya3212]

Originally Posted by hal53

C'mon Corey it's all very simple....everybody in the patch makes too much money (except him)...we should all take a pay cut (except him), then all will be right with the world and the utilization rate will....do something I guess.......??

Right you are . How come service providers increased costs can hurt the drilling activity but govt increased costs can't?

I think 79 is on to something. If we take some racked rigs and hail them to sask, our drilling activity will have increased because our utilization will go up....I think...