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Saturday, April 7, 2018

The Permian: 8X The Number Of Rigs That The Bakken Has -- Baker Hughes -- April 7, 2018

Link here.

The Bakken:
  • 55 rigs
  • 1 million bopd
  • "all" horizontals; and all greater than 15,000 feet total depth (most between 19,000 and 21,000)
The Permian:
  • 400 rigs
  • 2 million bopd
  • 90% horizontal; only 20% greater than 15,000 feet total depth


Did BTUAnalytics over-think this?

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The US: the Southern Wall
China: the Southern Gate

Deng Xiaoping And The Transformation of China
Ezra  Vogel
c. 2011 
951.05 VOG 

Chapter 14: Experiments in Guangdong and Fujian, 1979 - 1984
  • Guangdong: mainland, opposite Hong Kong, Macau
  • Fujian: mainland, opposite Taiwan
The opening paragraphs are remarkable.
  • 1977: Deng Xiaoping, visited Guangdong; there for military conference; briefed on the problem of young men trying to escape across the border from China into Hong Kong
    • Deng immediately saw the problem; saw the solution
    • the problem arose from the disparity of living standards on either side of the border
    • 20-mile fence with thousands of troops: to no avail
    • socialism/communism on the Chinese side of the border not working
    • foreign investment not yet allowed
  • 1978: Xi Zhongxun appointed provincial party secretary
    • of the "old school"
    • the problem was "class struggle" -- he said, sticking to Marxist theory
    • he was schooled by a "brave local party secretary"; Xi Zhongxun fired him on the spot; the secretary said, "too late, I already quit"
    • Xi Zhongxun continued to listen
    • the next day he undertook a self-criticism at his own initiative and apologized to the local official, asked the latter to stay and pledged to enrich the economy
    • over the years, things turned around
    • Xi Zhongxun was originally from Shaanxi province (see map below); he retired in 1989; chose to retire in Guangdong
    • his son, XI Jinping, born in 1953, was selected in 2011 to be come the president of China beginning in 2011 to become the president of China beginning in 2012
  • China's Southern Gate: once Deng allowed Guangdong to open its doors, Hong Kong became a source of investment capital, entrepreneurial dynamism, and knowledge about the outside world
    • Hong Kong was full of entrepreneurs, including tens of thousands who had fled there after 1948 when the Chinese Communist armies began taking over the mainland
    • special economic zones (SEZs) established in 1980; "regulated primarily by the market"
    • during Deng's era, mainland officials in Guangdong and Fujian, especially in the SEZs, learned valuable lessons from the cosmopolitan Hong Kongers -- from their increasingly open television shows, newspapers, personal contacts, and from the factories, hotels, restaurants, and stores that they built in Guangdong
    • by the end of the Deng era in 1992 many mainlanders in southern Guangdong were indistinguishable from the residents who had come from Hong Kong
    • within three decades after Guangdong and Fujian were granted special status, Chinese exports had multiplied over one hundred times, from less than US$10 billion per year in 1978 to more than US$1 trillion, with more than one-third from Quangdong
    • in 1978 there were virtually no factories in Guangdon with modern assembly lines; within three decades, a visitor to southern Guangdong would see skyscrapers, large industrial sites, apartment buildings, world-class hotels, superhighways, and traffic jams
China map:


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