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Thread: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by Gimmesometruth View Post
    Um, the point is, the oil corp always has an interest in news that spurs speculative investment.

    You are too invested in your original post to admit to your error......which is why you continue to move your discussion to other subjects.

    You lost the point, you are wrong......and we are done.

    Tah-tah.

    Of course they have an interest in speculative reporting. However, falsely inflated estimates are counter-productive to what the oil companies are trying to accomplish with the reports.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by apdst View Post
    If you sell at a loss, you can deduct the loss. Simple.
    That isn't depreciating a loss in capital due to market fluctuations. Drought drives the market price up but the yield down- a farmer can have a high market price but low yield and thus a loss which is a deduction in income, not a depreciation of capital. Capital isn't 'lost' in the production process like say fertilizer, diesel, or cost of a custom cutter.

    You can depreciate a tractor to zero value but if you sell that tractor later you have to claim the sale price as income.

    You're using terms in a very sloppy manner and combining deduction with depreciation. Depreciation is a deduction however it isn't dependent on market forces.

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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by notquiteright View Post
    That isn't depreciating a loss in capital due to market fluctuations. Drought drives the market price up but the yield down- a farmer can have a high market price but low yield and thus a loss which is a deduction in income, not a depreciation of capital. Capital isn't 'lost' in the production process like say fertilizer, diesel, or cost of a custom cutter.

    You can depreciate a tractor to zero value but if you sell that tractor later you have to claim the sale price as income.

    You're using terms in a very sloppy manner and combining deduction with depreciation. Depreciation is a deduction however it isn't dependent on market forces.
    He has to claim the sell of the tractor if tractor sells for more than it's worth.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by apdst View Post
    Of course they have an interest in speculative reporting.
    cough..
    Quote Originally Posted by apdst View Post

    The oil companies have zero to gain by pressuring the EIA to over-estimate the size of the reserve.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by Gimmesometruth View Post
    cough..
    I didn't contradict myself, so what's your point?

    Does this show how desperate you are to cover-up the fact that you're totally wrong?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by apdst View Post
    It's all about what's in it for who?

    The oil companies have zero to gain by pressuring the EIA to over-estimate the size of the reserve.

    On the other hand, politicos within the government have everything to gain.

    It's simple deduction.
    Quote Originally Posted by DA60 View Post
    Oil companies have no reason to pump up the figures?

    Are you serious?

    The more oil they say is down there, the less worried people get about developing alternatives and the more money/grants they can extract from the government to get the oil.

    It is in BOTH the oil companies AND the gov't's interest to provide 'good' numbers.
    Lets not forget that if a company has the rights to an oil field with 2 billion barrels of recoverable oil, it is sitting on a huge asset. It could sell those assets for a significant sum. If the amount of recoverable oil drops then the dollar value in assets drops as well
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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by Lord Tammerlain View Post
    Lets not forget that if a company has the rights to an oil field with 2 billion barrels of recoverable oil, it is sitting on a huge asset. It could sell those assets for a significant sum. If the amount of recoverable oil drops then the dollar value in assets drops as well
    That is where the term, "provable reserves", comes into use. No one is going to buy a 2 billion barrel field just because someone said, "oh yeah! There's 2 billion barrels there". Before that deal is struck, the buyer will want to see proof that the oil is there and that it's producable.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by Gimmesometruth View Post
    Um, the point is, the oil corp always has an interest in news that spurs speculative investment.

    You are too invested in your original post to admit to your error......which is why you continue to move your discussion to other subjects.

    You lost the point, you are wrong......and we are done.

    Tah-tah.

    If a play is getting hot the last thing an operator would want is a lot of publicity. They would much rather buy up the acreage quietly at low prices...

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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by drz-400 View Post
    If a play is getting hot the last thing an operator would want is a lot of publicity. They would much rather buy up the acreage quietly at low prices...
    These days, it is leases, and Occidental Oil Corp, held many of the leases. If the shale reserves could have been productive, they would have attracted investors (they are publicly traded) on good news. Instead, they are selling their CA interest.

    "Oil driller Occidental, one of the major leaseholders in the state, earlier this year put its California business up for sale in part due to lagging oil production.

    "Not all resources are created equal," Sieminski said. "It turned out that it is harder to crack the reservoirs and get the oil flowing from the Monterey" than from Bakken or the south Texas formation of Eagle Ford."

    UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct | Reuters
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by Gimmesometruth View Post
    These days, it is leases, and Occidental Oil Corp, held many of the leases. If the shale reserves could have been productive, they would have attracted investors (they are publicly traded) on good news. Instead, they are selling their CA interest.

    "Oil driller Occidental, one of the major leaseholders in the state, earlier this year put its California business up for sale in part due to lagging oil production.

    "Not all resources are created equal," Sieminski said. "It turned out that it is harder to crack the reservoirs and get the oil flowing from the Monterey" than from Bakken or the south Texas formation of Eagle Ford."

    UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct | Reuters
    Yes, i know how it works. If Occidental "cracked" the monteray they would prefer not to have it on front page news until they were able to buy up all of their prospective acreage. Everyone in the industry knew the Monteray was not yet productive. There is a lot of oil, its a question of how to get it out.

    Great example of what i am talking about, Brigham Exploration in Nodak, they finally figured out how to make the Bakken productive about 4 years ago by copying EOG. Know what they did? Quickly shut in the well so no one could see the massive gas flare and quitely bought up as much acreage as possible before word got out...

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