1 Well

[G8trGr8t]

Today, MMR released the first audited PPP reserves (proved, probable, possible) numbers for a new classification of cutting edge wells commonly known as ultradeep wells. These wells are being drilled and completed with technology they are inventing as they drill. Wells are in shallow water GOM and on-shore locations in southern Louisiana.

The first well still being drilled but tested in layers already encountered contains over 500 BILLION cubic feet of natural gas and related hydrocarbons. One well, the first well, with newly invented technology that is probably low on the efficiency scale. Think about how much could be produced once they figure out the technology and completion techniques at these depths, presssures, and temperatures.

http://seekingalpha.com/news-article...tra-deep-trend

NEW ORLEANS--(BUSINESS WIRE)-- McMoRan Exploration Co. (MMR) reported today that independent reserve engineers engaged for the sole account of McMoRan estimated proved, probable and possible oil and gas reserves of 546.7 Bcfe gross (141.7 Bcfe net to McMoRan, including 12.9 Bcfe of net proved reserves) associated with interim results from the sands encountered above 24,000 feet in the Lineham Creek ultra-deep exploratory well located onshore South Louisiana. These are the first reserves to be booked in the sub-salt, ultra-deep trend. The well is currently drilling below 27,600 feet to evaluate the deeper primary objectives and has a proposed total depth of 29,000 feet. Development plans will be determined following completion of drilling and evaluation of the deeper objectives.

James R. Moffett, Co-Chairman, CEO and President of McMoRan said, These are the first of what we hope will be sizeable reserves from the sub-salt, ultra deep trend onshore and in the shallow waters of the Gulf of Mexico. Indications of hydrocarbons shallower than 24,000 feet have positive implications for additional targets on trend within our portfolio. We look forward to results from ongoing drilling activities on the Lineham Creek structure and from the onshore Lomond North exploratory prospect currently being drilled.

Lineham Creek is located onshore in Cameron Parish, Louisiana. Chevron U.S.A. Inc., as operator of the well, holds a 50 percent working interest. McMoRan is participating for a 36.0 percent working interest. Other working interest owners include Energy XXI (9.0%) and W. A. Tex Moncrief Jr. (5.0%).

For the US to not be investing hand over fist to build the fueling infrastructure and converting all big rigs and fleet vehicles to natural gas is sheer stupidity yet we are subsidizing $80k Tesla's and $50k Volts.

Bottom line..we have more cheap natural gas than we could ever possibly burn in our great-grandchildrens lifetime and are constantly discovering more yet we continue to waste money on expensive electricity from solar and wind and export hundreds of billions of $$$ worth of wealth to import oil from other countries. Can you spell S_T_U_P_I_D?

And make no mistake, the rest of the world probably ahs similiar resources but they do not have the technology and expertise to tap into it. Once they get the same low cost energy we currently have, we will lose the competetive advantage that is bringing manufacturing and checmical production plants back to the US. Meanwhile 0blamer keeps wanting to villify the one single industry that could single handedly pull us out of this self imposed flatline, no growth economy.

[vangator1]

The liberal agenda is to destroy the country as we know. So cheap energy doesn't fit the plan.

[MichiGator2002]

The environmentalist hardcores are what used to be called Luddites.

[oragator1]

Originally Posted by MichiGator2002

The environmentalist hardcores are what used to be called Luddites.

Luddites were protesting because it meant their jobs, they were more like modern union workers who are being replaced by mechanization or even outsourcing.
Environmentalists are a more complicated group to pin down as they have a number of motivations. The image is always the hippie tree hugger but that's only a piece of the pie, there are rural people who don't want their lifestyle to change, urbanites who move out and impose their utopian nature views on locals, hikers and other outdoors types who want their recreational spots preserved as a place to get away, people worried about pollution or conglomerates having too much say locally, people who want their kids to have the same opportunities as they did to see a bear, whale or mountain lion, and even the wealthy who just want to leave a legacy - don't forget that it was John D Rockefeller who got Acadia and the Grand Tetons parks off the ground. There aren't enough hippies in the world to fund all of the environmental charities that are out there, lots of ordinary people consider themselves environmentalists too, many pretty seriously.

[G8trGr8t]

And this has what to do with our refusal to craft a realistic energy policy to keep our wealth here instead of exporting it? I love the outdoors but have no problem using Nat gas instead of diesel. It is cheaper, cleaner, and homegrown but the Oblamer refuses to lead as he hates carbon based fuels and is too arrogant to ever admit he is wrong.

[geauxgator1]

Originally Posted by G8trGr8t

Today, MMR released the first audited PPP reserves (proved, probable, possible) numbers for a new classification of cutting edge wells commonly known as ultradeep wells. These wells are being drilled and completed with technology they are inventing as they drill. Wells are in shallow water GOM and on-shore locations in southern Louisiana.

The first well still being drilled but tested in layers already encountered contains over 500 BILLION cubic feet of natural gas and related hydrocarbons. One well, the first well, with newly invented technology that is probably low on the efficiency scale. Think about how much could be produced once they figure out the technology and completion techniques at these depths, presssures, and temperatures.

http://seekingalpha.com/news-article...tra-deep-trend



For the US to not be investing hand over fist to build the fueling infrastructure and converting all big rigs and fleet vehicles to natural gas is sheer stupidity yet we are subsidizing $80k Tesla's and $50k Volts.

Bottom line..we have more cheap natural gas than we could ever possibly burn in our great-grandchildrens lifetime and are constantly discovering more yet we continue to waste money on expensive electricity from solar and wind and export hundreds of billions of $$$ worth of wealth to import oil from other countries. Can you spell S_T_U_P_I_D?

And make no mistake, the rest of the world probably ahs similiar resources but they do not have the technology and expertise to tap into it. Once they get the same low cost energy we currently have, we will lose the competetive advantage that is bringing manufacturing and checmical production plants back to the US. Meanwhile 0blamer keeps wanting to villify the one single industry that could single handedly pull us out of this self imposed flatline, no growth economy.

The idea is to destroy capitalism and this country specifically, so it really doesn't matter what we have going. We could find oil/gas/shale in our own backyard digging with teaspoons and the envirnomentalists would shut it down in the courts.

[oragator1]

Originally Posted by G8trGr8t

And this has what to do with our refusal to craft a realistic energy policy to keep our wealth here instead of exporting it? I love the outdoors but have no problem using Nat gas instead of diesel. It is cheaper, cleaner, and homegrown but the Oblamer refuses to lead as he hates carbon based fuels and is too arrogant to ever admit he is wrong.

That's a whole separate debate from what I was having, I was only making the point that comparing modern day environmentalists and Luddites was inaccurate.

If the debate is specifically around natural gas, the question becomes whether it can be done safely, effectively and with minimal environmental damage. I am not a natural gas expert and know this is your field so I won't attempt to debate you on it, except to say I personally believe something that currently is responsible for 20% of the nation's greenhouse gasses isn't as clean as many make it out to be, or even close. But yes if the choice is diesel or Nat gas, nat gas is the better option both environmentally and availability wise. Then it just becomes a question of how safe it is to retrieve, which you would know more about than me.