I wonder if you two have a thought to share about the degree to which the Metering issues being discussed the past couple of weeks are impacted by the ProBusiness/Anti Regulatory state legislatures in TX and OK. Doubt that the politics will change, but wondering if it would matter. It is not my intent here to get into a lengthy political discussion. I can visualize an Engineer designing a Well Pad Production Environment running cost benefit numbers on a Full and Complete Metering Option and finding it is too costly and thus taking a less costly option. Just wondering…
Harley, OCC does regulate gas metering and reporting. GE and Dresser are addressing gas metering issues and GE has a new lab right there in OKC, so there really is no excuse for improper gas metering.
Oil meters seems to be more problematic since the OCC does not regulate oil metering. However, Cameron has new oil tank designs for improving skim tank performance, so there is no excuse for oil being pushed to fast through the tanks allowing operators to skim/filter out more than the allowable 2% and not pay royalty on the access captured. Oklahoma’s Law of Capture is not as mineral owner friendly as Texas’s Law of Ownership, however the law of capture does not afford the operator the right to take more than is legally allowed and the OK legislature needs to be made aware of this issue and make changes to prevent further injustice. Here’s an article on Cameron’s new tank designs. http://www.worldoil.com/Fluid-modeling-helps-improve-skim-tank-perf…
Only drawback I notice about Oklahoma and Texas crude going to California, is the situation at the Panama Canal, which is about as shaky, al-be-it in somewhat different ways, as the Suqz Canal. Panama is not being to user friendly recently, and that 10$s a barrel shipment through the Panama Canal is bound to get a light higher no matter how it turns our. But it might be cheaper for our Oil Companies to build a new canal to San Francisco through the Arkansas River of something. Where are them 20 mule team wagon trains when we need them?
Logan: Devon Energy Production Co. LP; Betty 11-18N-3W No. 1WH Well; SW1/4 SE1/4 SW1/4 SW1/4 (SL) of 11-18N-03W; 237 barrels oil per day, 459,000 cu-ft gas per day; TD 10,810.
an so the State Department has once again tossed the fate of the Northern part of the Keystone Pipeline, from Cushing OK to the western tar fields of Canada, into the not-too-eager lap of President Obama. LOL Their spokes—uhhm person, said she has no major objections to it being linked, and that it probably will not make any difference to the environment either way, build it or not. The keyword here, of course, is “major” objections or problems, and the final ruling, this will make about the seventh final ruling, LOL, is not expected out of the White House until later in the summer. What they need is yet another study, there have not been enough studies on this matter, which means of course, not enough money has passed under the proverbial table. Well. I do expect Obama to pass it along for someone else to study it some more.
Maybe there are some yellow haired pin tail cuckatoos who need protecting is my guess.
I indeed hear rumblings about China providing the money to drill all over Logan County, of course, we give them allah that money, which they in turn loan back to us, and everyone is really frightened that we owe so much money to Beging. Me? I am not worried about it even a little, because there is no doubt in my mind that our congress and senate can screw China as easily as they screw us.
They aren’t loaning us money, they are buying us. The wind turbines are mostly owned by foreign countries, our pig farms and land are owned by foreign and now our oil.
So don’t cry on my shoulder once we are paying $6. gal for gas and $10 # for bacon. Then we find our electric bill is 3 times higher than now. And we are waiting for WHO??? to do something.
I wonder if Dinah Shore and George Montgomery still own Blackjack in SE Kansas where a lot of our pigs and beef came from back then? There were rumors of gas wells way back then, and I had a friend who actually had a few gas wells and he worked them for several years, but that was more like around Sterling, Kansas, which was quite a ways west of Blackjack. About 200 miles due north of Guthrie, Oklahoma. My favorite town ever was a little town called Lyons, Kansas, lots of gas activity around there way back then, and it was right atop the American Salt Company salt mines, a beautiful sight to see, but then the Feds wanted to use it for a nuclear waste storage area, but ran into far too much protesting and stuff. What is down there today? Who knows?
OK Businesses exported $243 Million in Goods & Services to China in 2013
Devon exchanged 1/3 interest in 125 wells to Sinopec in exchange for the capital to drill them. The wells will likely play out in the 48 months when the OK Tax Incentive ends.
Sinopec is interested in the technology to drill and produce wells in China. Devon now has a big foot in the door. OK may export more goods and services as a result.
I find it hard to believe that the world is going to end because of this business deal.