Seven Hundred Thousand Barrels, Lisa, Hundreds Of Millions discussed on Oil and Gas Startups Podcast
It's making sure the hatches are and this sounds simple and if people main listeners in the history will say we fix a lot of that. There are a lot older companies out there. They're hatches that need to be checked in this. I grew up around production on my dad. Pump oh wells. My grandfather pumped oil wells and trust me. You need the right people to do it right. And they're actually know what they're doing the shutting off valves no doing this stuff there ways to address the simple stuff of this first and then you really go after the hard stuff and that company. That dinner was hilarious. Because he was there and i showed up late and i was sort of dragged into the dinner and then i saw him at the table which was really funny. The conversation was it was. It was the first time. I've been out to dinner with eighteen people in those a lot of sure. We re probably violating some law. So i'm just keep that on the deal. Police would not be happy about that. We're where we are in denver folks. So yeah we. There was no marijuana smoke at dinner. Renault zillah saban mushrooms. Out on the table We managed to escape by the homeless people that were outside which the denver folks wanna just allow to vacate the city center. Now tricia doesn't want me to get to political. But i'm just going i. I don't have a problem with real quick to. I'm gonna go back real quick to dakota access. No hold on. We'll get we'll get there and just say to gulf of mexico on we're going to talk about the gulf of mexico for for bp. So the gulf mexico's actually a pretty big deal. We talked about this executive order because both the secretary one or number three three nine five and then this executive one which includes all federal land and water and so it is a bit of an issue when we think gulf mexico. I if you fall production. We had this big up taken production in the last day. Two november because gulf of mexico production dropped seven hundred thousand barrels. Dan came back. So we're north of eleven million barrels per day now again because the gulf of mexico but for these operators pretty big deal. Because it's a it's a chunk of their production and they have these leases and chevron mentions. They're like well we have the. Lisa's assumed that we're gonna be able to get the permits gets a little tricky of like. Are you going to be able to get the permits or do you have like. They don't actually know yet. And the same thing for the same thing for bp is that obviously they have a position in offshore and they basically say hey. We welcome all this legislation. We welcome being in the paris climate accords and everything and so they sort of pay lip service that this is just not not a big deal. And i think there is some real risk that we would see declining production. It were we organised declining production in the gulf of mexico if indeed these operators cannot have these permits although to be fair in the gulf of mexico this is much larger capital intensive operations. So you just don't do it you don't do it. Willy nilly You can't just do a ten million dollar you something for ten million bucks an backout so this is something long. Large capital outlays. That's a lot different than than onshore. Us shale but is it something important. Because i think we can see a drop. Production and also the gulf of mexico provides a massive amount of revenue To the federal coffers. And it's a really important to realize that there doesn't matter though it's m. t. We just run the credit card up. Apparently yeah so. Don't matter wall street journal a pretty good job on unsighting. The studies though a university of wyoming study putting the hundreds of millions..