Sunday, December 21, 2014

The Red Queen Is Running Faster And Faster -- Average Production Per Well Per Day -- December 21, 2014; ObamaCare Re-Enrollment Apparently Not Required; Enrollees Will Be Automatically Re-Enrolled

The following data, through 2010, was posted back on January 11, 2012. I was curious what the numbers show now. These are the updated annual NDIC numbers -- year, daily oil per well (annual production) -- # of wells (change from previous year):
  • 2013: 83 (314 million) -- 10,301 wells (change: 1,932 wells)
  • 2012: 80 (243 million) -- 8,369 wells (change: 1,808 wells)
  • 2011: 64 (153 million) -- 6,561 wells (change: 1,261 wells)
  • 2010: 58 (113 million) -- 5,300 wells (change: 700 wells)
  • 2009: 48 (80 million) -- 4,600 wells (change: 400 wells)
  • 2008: 41 (63 million) -- 4,200 wells (change: 400 wells)
  • 2007: 33 (45 million) -- 3,800 wells (change: 300 wells) -- the first year of the Bakken boom
  • 2006: 31 (40 million) -- 3,500 wells
  • 2005: 29 (36 million) -- 3,400 wells
  • 2004: 26 (31 million) -- 3,400 wells
  • 2003: 24 (29 million) -- 3,400 wells
  • 2000: 27 (33 million) -- 3,300 wells
  • 1990: 28 (37million) -- 3,600 wells
  • 1980: 46 (40 million) -- 2,400 wells
  • 1970: 37 (22 million) -- 1,600 wells
  • 1969: 37 (23 million) -- 1,700 wells

  • 1960: 39 (22 million) -- 1,500 wells

  • 1951: 72 (26,196 bbls) -- one (1) well, by the way
By the way, currently the average amount of oil per well per day, as of October, 2014: 103 bbls (the record was set in September, 2014, at 104 bbls/well/day. In October, 2014, 11,507 producing wells produced a total of almost 37 million bbls of oil, or, on average, 1,182,174 bbls of oil per day.

On another note, the Peak Oil folks just cannot give up. For the archives: it is now confirmed, the IPs of new Bakken wells are declining. It should be noted that the study only went back to November, 2013. The author if of the belief that the "initial 24-hour production number" strongly correlates with how well that well will do. I wouldn't give the author's conclusions much credence. It should be noted that there at least three new issues affecting production: a) new flaring rules; b) new conditioning rules; c) the plummet in oil prices. These issues are relatively new but oil companies have seen them coming (at least the first two) for several months now. I take the study with a grain of salt. That, and $1.89, will get you a Starbucks coffee.

Another ObamaCare "Gotcha"

Back on December 3, 2014, I posted:
This is actually pretty clever; I did not see this one coming.

There must be at least a dozen telephone carriers with whom I can contract for cellular service, including Verizon, ATT, Sprint, several regional carriers, and probably even over the internet (TimeWarner or Dish) if I was that clever. But I contracted with Sprint twenty (20) years ago and never switched. I still use Sprint.

We have two options for internet and television here in the DFW area: TimeWarner and Dish (there may be others; I'm not aware). I signed up with TimeWarner when I got here, the same carrier I had had for 13 years in San Antonio. I will probably stay with TimeWarner forever; I don't even look at Dish offers.
In Texas, electric utilities are de-regulated; consumers can switch utilities willy-nilly every month if they want. I have been with one utility since I arrived and have no plans to switch.
It turns out that consumers of health care insurance share the same behavior. Even though there is an annual "open season," very few consumers switch health care once they have a policy. Sure, they have to re-enroll, but usually they just get a note (electronic or snail mail) that says they are automatically re-enrolled if they do nothing
Now, just a few days later, this is being reported as BIG news. In fact, it's not BIG news (see above). It's hardly news; it's simply a wrinkle on what BIG HEALTH CARE already does. If you are currently enrolled in ObamaCare and for any reason "fail" to re-enroll for calendar year 2015, DO NOT DESPAIR: apparently, the government is going to automatically enroll you in the program they feel is best for you depending on whatever data they already have on you. I cannot make this up. The Washington Times is reporting:
ObamaCare sign-up trap: Sign up at one time in your life and we will never let you go. If you don’t continually re-enroll each and every year, CMS will keep you on the plan that it chooses because, after all, CMS knows what’s best and they always make the best decision. Oh, and if you don’t believe that, please go to the 600 million dollar website that will give you all kinds of testimonials handcrafted by MIT professors.

No comments:

Post a Comment