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Politics : Peak Oil reality or Myth, of an out of Control System
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To: dvdw© who wrote (1429)3/1/2019 11:07:37 AM
From: dvdw© of 1580
 
Relationships between data sets matter.If one reads enough, one begins to sense that a good portion of what you are reading builds upon spurious correlations.

Here is an outtake from an article from the last couple of days. "But the U.S. shale industry has already begun to tap the brakes. Total U.S. oil rigs are stood at 853 for the week ending on February 22, down from a peak of 888 in November."

Ok...rig counts down by 35 Nov 18 to Feb 19.
Surmise....(US Shale industry is tapping its brakes)

Big deal....Here is some other Nov 2018 data which is more important to analysis.

"The total number of DUCs hit 8,723 in November 2018, up 287 from a month earlier."

so, rig peaks of 888 Nov produced 287 more DUCS by end of Nov.

Gross DUCs outstanding 8723. If all DUCS were immediately converted, production would rise on daily basis more than 2 million BPD>

DUCS continue to rise into 2019, new data should be available soon which will build upon the awareness started by the post too which this is a reply.

Hint...many shale drillers are under pressure to slow drilling and hence capital expenses....

In the recent quarters, companies say they are cutting back drilling.

In the same period, projections for funds diverted to Completion in current and future quarters are increasing.
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