landowner

Break even point $4.16 with 7.5 mmpd IP for HS (what is mmpd?) GREAT ARTICLE

http://www.usaee.org/chapters/documents/Houston_090312.pdf

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Permalink Reply by BirdDawg, plain ole' idiot on April 30, 2009 at 18:00
One thing I can not understand, why do we IMPORT ANY natural gas?

landownerPermalink Reply by Bobi Carr ("parker") on April 30, 2009 at 18:03
BirdDawg,

Do you know if mmpd is the same thing as mmcf?
Permalink Reply by BirdDawg, plain ole' idiot on April 30, 2009 at 18:06
Parker,
Someone may educate me on this, but it looks like they mean "million cubic feet per day".
I know it doesn't necessarily say that, just my interpretation.
Literally interpretated, to me, it says "million per day".

landownerPermalink Reply by Bobi Carr ("parker") on April 30, 2009 at 18:17
mmbd - million barrels per day
mmbod - million barrels of oil per day
mmscfd - million standard cubic feet per day
Permalink Reply by BirdDawg, plain ole' idiot on April 30, 2009 at 18:26
Parker,
A million barrels per day?
I would love to have a tenth of an acre in that unit.

Oil & Gas ProPermalink Reply by Les Bamburg on April 30, 2009 at 18:38
Parker,

MMscfd, mmscfd, mmcfd, mmcfpd, MMscfpd, MMcf/D, .......

All the above mean the same thing. Think the industry can be any more confusing. Of course the above is for the US - international is a whole different ballgame!!

Oil & Gas ProPermalink Reply by Les Bamburg on April 30, 2009 at 18:23
Parker, it is a typo. Not sure if they meant 7.5 mmcfd but that seems too low.
Permalink Reply by BirdDawg, plain ole' idiot on April 30, 2009 at 18:27
The $4.16 price indicates gas, not oil.

Oil & Gas ProPermalink Reply by Les Bamburg on April 30, 2009 at 18:27
BirdDawg, the US does not currently have sufficient natural gas production capacity to meet demand. That may change over the next few years if natural gas prices increase to higher levels. Also, the Northeast requires some imports due to limits in the interstate pipeline capacity into that region. Again that may change with the Rockies Express Pipeline and growing Marcellus Shale production.
Permalink Reply by BirdDawg, plain ole' idiot on April 30, 2009 at 18:29
Les,
Thanks, you always can explain what I can't understand.
I guess it is hard for me to get a grip on the fact that we have so much NG that the price drops so much due to excessive storage, but we still import gas.

Oil & Gas ProPermalink Reply by Randy on May 1, 2009 at 2:34
Seems like I remember reading that we supply 96% of our own NG supply currently.

Oil & Gas ProPermalink Reply by Les Bamburg on May 1, 2009 at 5:14
Randy, more like 86% but most of the imports are from Canada.

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