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June 22, 2008

Comments

Choke, what do you know about the present casing shortage? I can’t find any 4 ½ J-55 11.60, at any price. I am being quoted $15.00 per foot (if they had it). I am hearing stories of rigs being stacked because of no casing. Salesmen are telling me the Chinese mills give preference to Chinese domestic infrastructure steel, and that all mills are running full out. My studies suggest casing shortages are the biggest threat to the small independent in the near term. Any comments?

I really enjoy your blog and agree with your views.

I have 3 young children and I shudder to think of the "Borg" as you recently described-but I can see it coming fast and hard.

I am currently reading Atlas Shrugged and all I can say is WOW-was she prophetic or what?

Scott... you are dead on about it getting harder to source casing (and a lot of other items on our AFE's) real time any more. Interesting what you heard about the Chinese... steel worth more than weak dollars, apparently. WRT 4.5" j-55 11.60, my VP of drilling told me to pass on that Cressman Tubulars has 36,000' on hand right now. Not much, I know, and amazingly crazy to find. Thanks for bringing that topic up!

Thanks for the tip, Choke. I calling cressman now..

Scott,

I want to pass on another issue brought up by your comment... the high cost of tubulars. I have seen more than one instance in my non-op interests where used casing was put in the hole and represented as new casing. If you are seeing lots of csing leaks or collapse with a particular operator, you need to watch out... the salesman tries to make deals with field or operations superintendents and splits the difference as a kickback to the operations person.

This, in fact, has caused a huge family rift in one company I know of... the cousin runs the field operation of my friend's oil company.

I think we are on the brink of an Idiocracy.

@Scott -- $15.00 sounds too high for non-existent casing. When I ain't got it, I give it away!

We haven’t stacked anything, god no! But some of the stuff we’ve used up in the Fayetteville has been awfully, unexpectedly, and unacceptably brittle! >:0

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