Rifleman
Premium
join:2004-02-09
p1a
 ·Cogeco Cable
| [video] Guy Finds Oil In Backyard
I think he said 3 barrels a day? So at 100 bucks a barrel he's brining in almost 110 grand a year. Not too shappy. I'd drill 4 more and live like a sheik.
»www.liveleak.com/view?i=1cd_1214666398 |
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Jon
Premium
join:2001-01-20
Lisle, IL
edit:
June 28th, @06:25PM
| Wow that's cool. And yeah, I'd drill a few more too.
He already knows the oil is there.
edit: just watched it again and they said they're drilling 4 more wells. That will be over half a mil a year. Awesome! |
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sapo
Computer Love
Premium
join:2002-09-16
Sacramento, CA | reply to Rifleman
I doubt hes getting that price for them, seems really inconvenient to even get the oil from him in such low quantities. |
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seaquake
Premium,MVM
join:2001-03-23
Millersville, MD
clubs:  
 ·Verizon FIOS
| said by sapo  :I doubt hes getting that price for them, seems really inconvenient to even get the oil from him in such low quantities. They didn't mention how often they empty his storage tank or how big it is. 10 days of pumping yields 30 barrels or 260 gallons. I believe the standard gas tanker hauls 8500 or so gallons. I imagine they have a mini-tanker (similar to home-fuel delivery trucks) come pump it out once a month or so.
Even if the single well only covered operating expenses and fuel costs for their vehicles and home heating, it's well worth it. I'd rather see money go to them and not into the pockets of overseas countries...even though it's just a drop in the barrel. |
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McSummation
Mmmm, Zeebas Are Tastee.
Premium,MVM
join:2003-08-13
Round Rock, TX
 ·AT&T Southwest
| said by seaquake :They didn't mention how often they empty his storage tank or how big it is. 10 days of pumping yields 30 barrels or 260 gallons. I believe the standard gas tanker hauls 8500 or so gallons. I imagine they have a mini-tanker (similar to home-fuel delivery trucks) come pump it out once a month or so. Actually, that 30 bbls would be 1260 gallons. |
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seaquake
Premium,MVM
join:2001-03-23
Millersville, MD
clubs: | I thought my math didn't look right. What the hell was I thinking? |
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Jwobot
join:2002-08-14
Utica, MI | reply to Rifleman
All that comes to mind is from the Reno 911 show when the guy thought he struck oil, but it was just his septic tank. |
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Unit649
I B U, Who U B?
Premium
join:2000-01-22
Stockton, CA
·Comcast
| reply to Rifleman
Not bad, cept he'll have to pay someone to transport it to market, or sell it for less and they will transport it for him.
The cost of oil includes many other costs. Plus it has to be refined, etc. Is it sweet crude or something else less desirable? The cost on the stock market is for crude that is easier to refine. Other types have more stuff in them that increases the cost to produce product.
He'll make some money, but probably not the stated price on the stock market 30 days from now. |
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DataDoc
Nilsson Schmilsson
Premium
join:2000-05-14
Greenville, NC
·Suddenlink
| reply to Rifleman
said by Rifleman : I'd drill 4 more and live like a sheik. Just load up the truck and move to Bev-er-ly. |
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shaner
Premium
join:2000-10-04
Calgary, AB
| reply to Rifleman
said by Rifleman :I think he said 3 barrels a day? So at 100 bucks a barrel he's brining in almost 110 grand a year. Not too shappy. I'd drill 4 more and live like a sheik. » www.liveleak.com/view?i=1cd_1214666398 Drive outside of Calgary here, and you will see a number of nodding donkeys in farmers fields. It's another cash crop, but in such small quantities, none of these guys are getting fabulously wealthy from it. |
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FiL
Premium
join:2005-08-16
Silver Spring, MD
| The price of REFINED Oil is 100+ a barrel. This is crude oil that isn't going to fetch that price. Also, state and fed's will want to tax this natural resource, so this guy's gonna make a few bucks, but not be able to fully live off the fat of the land. |
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McSummation
Mmmm, Zeebas Are Tastee.
Premium,MVM
join:2003-08-13
Round Rock, TX
·AT&T Southwest
| said by FiL :The price of REFINED Oil is 100+ a barrel. This is crude oil that isn't going to fetch that price. On the contrary, it is "West Texas sweet crude" that is priced at $130+ per barrel. "Refined" is what you're paying $4+ per gallon for.
BTW, for those wondering about the math I corrected above, a barrel (bbl) is 42 gallons. Another measure is a "55 gallon drum". |
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hortnut
join:2005-09-25
Beavercreek, OR
·BCTelco
·Qwest.net
 ·Skype
·Comcast
| reply to Rifleman
I read some articles this week about oil in the North Dakota area, that till now were very expensive to get from the ground. As I recall the oil is contained in a very narrow band and that a vertical shaft has to be drilled and then a horizontal shaft from that point. Could not find the original article but here are some from googling:
".....Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times, giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply irrelevant......."
»www.nextenergynews.com/news1/nex···13s.html
More about the drilling details:
»www.argusleader.com/apps/pbcs.dl···06230310
Article about the possible building of a new refinery in South Dakota-
»www.boston.com/news/nation/artic···efinery/
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Darn, its gettin that time to go to Wallymart to gits me picture taken agin.
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yuutomo
The Wonder Kitter
Premium
join:2001-08-27
Missoula, MT | reply to Rifleman
another mindless fool relying on oil and not moving forward, instead he's clinging to outfdated and outmoded way of living. |
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HerbertK
Launch Barrito
join:2006-07-30
Long Beach, CA | reply to Rifleman
Pretty cool indeed. I know around here you don't own the rights to what resources are underground, so you wouldn't be able to do that. |
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shaner
Premium
join:2000-10-04
Calgary, AB
| reply to yuutomo
said by yuutomo :another mindless fool relying on oil and not moving forward, instead he's clinging to outfdated and outmoded way of living. Or how about taking advantage of a good while you can. How do you know what he's investing the profits in?
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The opinions in this post are wholly my own and in no way reflect the opinions of, or are influenced by my employer. |
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johnqpublic
Premium
join:2002-03-22
Xanadu
| reply to yuutomo
said by yuutomo :another mindless fool relying on oil and not moving forward, instead he's clinging to outfdated and outmoded way of living. It says absolutely nothing in that story about what type of energy he relies on on a daily basis. For all we know, he could use solar, wind, and geothermal tech and live completely off the grid.
What he is doing is capitalizing on the high cost of oil, which makes economic sense at this time. However, I look forward to the day when Congress clamps down on the oil speculators and the cost of oil comes down to reflect the true value of actual supply and demand.
The positive effect of current high prices means that the average American thinks twice... or three times... before jumping in the gas guzzling SUV and polluting our environment.
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Never knock on Death's door. Ring the bell and run, he hates that. |
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Styvas
Go Canucks Go
Premium
join:2004-09-15
Cambridge, ON
·Primus Talkbroadband
·Shaw
| reply to HerbertK
said by HerbertK :Pretty cool indeed. I know around here you don't own the rights to what resources are underground, so you wouldn't be able to do that. That was my immediate thought as well...how is it that he has the rights to it? Obviously it must be different there.
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"Moving your Tylenol to the low shelf in your medicine cabinet is not the way to prevent children from falling off a stool when reaching for the top shelf." (said by Savant, May 2008)
Check out the »Primus TalkBroadband VoIP FAQ. |
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thinkfirst
@rr.com
| reply to yuutomo
said by yuutomo :another mindless fool relying on oil and not moving forward, instead he's clinging to outfdated and outmoded way of living. So you drive only electric vehicles, don't use any petroleum based products (including plastics), and don't purchase anything that was transported by rail or truck, right?  |
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yuutomo
The Wonder Kitter
Premium
join:2001-08-27
Missoula, MT
·Bresnan Online
| I am working towards the all electric Smart, I recycle and reuse anything plastic, I buy more than 65% of my good locally, or from thrift stores. I even cobbled together 3 different laptops into a working one, so I do my fair share. I have a solar panel on my vehicle to power the AC/Heat in it. |
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