The Oil Drum | DrumBeat: September 29, 2006

221 comments on DrumBeat: September 29, 2006

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toilforoil on September 29, 2006 - 10:38am

Please, Oilmanbob and others, stop repeating the misinformation that Jack2 was a find. It was a production test. In 2004, there was a find called Jack.

The players have indicated there will be another production test at the site next year. Maybe it will be called Jack3. Maybe the players will wait months to announce the results. In the best of all possible worlds, the entire administration will be facing impeachment at that time and friends in the oil industry might be looking for another opportunity for self-serving mischief.

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oilmanbob on September 29, 2006 - 11:32am

You're right, Jack2 was a field confirmation well. The production test was very hopefull-6,000 bbl/day for 30 days- but that doesn't make it cheap. My point, and I'm sure its valid, is that if Statoil is so sure of the Jack find why are they spending a smooth billion on second-rate hydrocarbons that will cost a minimum of $50/bbl to produce and refine? I don't think Statoil believes the media hype either.

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PhilRelig on September 29, 2006 - 5:44pm

I have a question (possibly a dumb one): Does that 6000 barrels/day that came up for 30 days eventually get sold on the market? Even though it was only a test?

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SqueakyRat on September 29, 2006 - 9:59pm

Gotta do something with it.

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221 comments on DrumBeat: September 29, 2006

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