Oil

[Stewy]

(03-07-2022, 04:19 AM)Bengalzona Wrote: That's what I understand. From what I have heard, companies in most other countries are pretty far behind our companies in the technologies to locate, drill and (especially) refine oil. Is that the case?

Well not really.  That isn't what I meant.  The US EPA and Dpt of Interior regulations are some of the if not the most stringent in the world, yet due to  the lack of political risk and above ground risk, and the readiness of materials for driling, even with all the govt regs, it's still safer, cleaner, but not always heaper to drill here.

You see, even in "other" countries, it is still your big companies - XOM, CVX, EQR, Shell, TotalEnergies, etc. that are drilling and developing the prospects on behalf of the country.  But the remoteness, lack of available of materials, and political and above ground risks limit profitability.  Or at least make it riskier.  

My point is that the things that separate the US the most are the regulations and controls which makes for a safe, clean and stable drilling experience.  However, innovations in drilling, completions and geoscience are not limited to the US.  The big companies can take all of those things any where.  Example:  My company, TotalEnergies, just made a huge discovery in Nambia (https://www.reuters.com/business/energy/totalenergies-makes-large-hydrocarbon-discovery-off-namibia-sources-2022-02-24/).  It was only the second well ever in the basin.  Very much a rank wildcat and on the adjacent block to the North, Shell had a discovery with the first well in the basin just a few months ago.

/cheers