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ogbull

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ogbull

Re: Timothy Smith post# 1972

Friday, 06/26/2015 1:40:04 PM

Friday, June 26, 2015 1:40:04 PM

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The fracking problems as I understand them is that the wells deplete in about 2 years so you have to drill like mad to keep production up. A lot of major fields are now showing signs of drying up. On the other hand, gas drilling seems to have a much greater potential, especially since there is no moratorium on exporting LNG. The problem with LNG is transportation to the market and its cheap price. Still onshore has a great GAS drilling potential, but fracking will be finished in less that 5-6 years. The majors know that so they are more interested in hitting a jackpot offshore. The future is with offshore drillers.

IMHO
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