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Old 10-28-2011, 12:17 PM
 
325 posts, read 861,585 times
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So is Midland know becoming the equivalent of Western North Dakota?

All the national press is focusing on Williston and the surrounding areas as the "new Saudi Arabia" but is something like this also happening in Midland given the current price of oil and the new technologies for extracting it?
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Old 10-28-2011, 12:40 PM
 
Location: Blah
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Quote:
Originally Posted by internationalman View Post
So is Midland know becoming the equivalent of Western North Dakota?

All the national press is focusing on Williston and the surrounding areas as the "new Saudi Arabia" but is something like this also happening in Midland given the current price of oil and the new technologies for extracting it?
Hum...I think you got it backwards...is North Dakota becoming the next Midland Texas?

The Permian basin...Midland, Odessa, Kermit, Penwell etc etc has been the Texas Oil boom epicenter for decades. The very first oil well in Texas was drilled just an hour or so away. Midland is the center of it all being the main office for a lot of independent and national oil companies but once you get out away from Midland it's oilfield city.

So do you work in the oilfield?
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Old 10-28-2011, 12:47 PM
 
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Yes I know that, but someone suggested they are uncapping wells and a boom is starting again because of the price of oil.

No, I do not work in the oilfields.
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Old 10-28-2011, 01:14 PM
 
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no--and you obviously have no idea of the history of oil and gas production in Midland area...
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Old 10-28-2011, 01:22 PM
 
Location: Austin, TX
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On some of the edges of the Permian Basin, they are drilling and frac'ing for oil. The Barnett Shale area is the northeastern side of the basin. As I understand it, there is some potential for fracing in the Permian, but it works much better in the less fragmented areas on the edges.

But yes, the oil industry has real taken an upswing in the Midland/Odessa area because of that.
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Old 10-28-2011, 01:23 PM
 
325 posts, read 861,585 times
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Well thank you loves2read. I thought that is why people (including me) ask questions. But clearly I was wrong. Perhaps in your unfettered brilliance you will condescend to enlighten the hoi polloi such as I who inhabit this forum.

Then again maybe not. Sounds like such a thing is beneath you.
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Old 10-28-2011, 01:25 PM
 
325 posts, read 861,585 times
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Quote:
Originally Posted by Trainwreck20 View Post
On some of the edges of the Permian Basin, they are drilling and frac'ing for oil. The Barnett Shale area is the northeastern side of the basin. As I understand it, there is some potential for fracing in the Permian, but it works much better in the less fragmented areas on the edges.

But yes, the oil industry has real taken an upswing in the Midland/Odessa area because of that.
Thank you. This is the kind of info for which I was looking..
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Old 10-28-2011, 01:34 PM
 
Location: Austin, TX
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There was a good story in Tx Monthly some while back on the latest upswing:
That

I think you need to be a member to read it online, though....
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Old 10-28-2011, 02:24 PM
 
Location: Blah
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Originally Posted by internationalman View Post
Yes I know that, but someone suggested they are uncapping wells and a boom is starting again because of the price of oil.

No, I do not work in the oilfields.
The second oil boom for Midland started around 2000 and was in full swing by the time the recession hit the US starting in July 2007. We basically had/have our own micro economy and didn't feel a thing. Midland was Top income in the State and 15th in the nation. Even today with the short fall in the Texas government budgeting, Midland/Odessa has been doing well.

As for production, yes we started uncapping wells but new production has also been ramped up. Just minutes or a few miles away from Midland is Martin County. At one point, 80% of ALL new wells drilled in the Untied States was in Martin County. I haul diesel and refuel Fracing pumps on location within 100mile radius on Midland which includes Martin County. It wasn't uncommon to be Fracing a well next to a couple drilling sites...in some cases, Fracing a newly drilled hole.

Anyhow, Both Midland and Williston are oil boom towns but the booms generally start in the Permian Basin and resonate outwards. The first oil/gas found In Williston for example was in the 1950's. The first oil well drilled in West Texas just up the road from Midland was in 1923. As for the new Sadi Arabia, that just may very well be North Dakota.
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Old 10-28-2011, 02:36 PM
 
Location: Plano, TX
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Yes, there is an oil boom in Midland. I am in the business and I was there last week. It is hard to get a hotel, it is hard to rent an apartment, it is hard to buy a home, it is easy to sell a home, it is hard to get employees to work at restaurants, quick-lubes, etc because they can get paid more in the oilfield.

The boom is in around a half a dozen counties out there, they are doing horizontal drilling and fracing in the Wolfberry, Wolfbone, Bone Springs and other pay zones. Most, if not all for oil.

The first oil well in Texas was after the Civil Oil near Nacogdoches, but the first real good oil well was the Lucas Well in Spindletop TX, near Beaumont in 1900-1901. The Permian Basin wasn't drilled for commercial oil until the early 1920s. I was at the Santa Rita #1 well in the ghost town of Texon (Reagan) last week, it was one of the earliest wells in the Permian Basin.

Barnett Shale is in the Ft Worth Basin, most of the activity has slowed down because of ow gas prices, except in the more northern counties, which reportedly has more oil.

South Texas is hopping too, with the Eagle Ford Shale play.

PS, they are not "uncapping" wells, they are drilling NEW wells. I wish people would quit using that term!

Last edited by Cowboybootnut; 10-28-2011 at 02:39 PM.. Reason: uncapping
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