Quick note on enhanced geothermal systems (EGS): There isn’t a world where drilling horizontal wells for hot water is cost competitive with drilling for natural gas. Same drilling technology deployed, but one product has 10x the energy density. This isn’t rocket science.

🧵$100 oil will not cause demand destruction or a US Recession. The numbers prove it. 1/ From June 2011–June 2014, WTI averaged $96.16 per barrel. Global oil demand kept growing steadily: ~87.1 mb/d (2010) → 91.5 mb/d (2014).

Hard to overstate the role shale gas has played in lowering inflation and spurring American industry. Were we a net importer today as forecast in the 2000s, domestic nat gas & power would be at multiples of current pricing, serving as a huge tax on individuals and companies. 1/5

This may be the most amateur mistake I’ve ever seen in the oil and gas industry. The (unhinged) CEO of $AZRH claims his NSAI reserve report calcd $6 billion of value. Turns out he misinterpreted “M” as “Millions” instead of thousands. It says $6 million. Not $6 billion. Lol

Most of the country has just experienced a week of sustained cold where solar proved useless during times of peak demand. And batteries barely helped. Very odd timing for advocating a government-dictated solar-and-batteries scheme.

🤣 😂 perfect explanation of new England’s energy policy

Meantime in New England and Boston oil - yes OIL - is a stunning 39% of electricity production. Never, ever seen this high. Next day power costs (on the left) are super high as well. 300 miles from one of the largest nat gas fields in the world and burning ... oil. Weird.

New England is currently burning oil as its primary fuel source. This hasn’t happened since the 1830’s when New Englanders were harpooning whales for whale oil.

Today, 27% of New England’s electricity will come from burning barrels of oil. This is third world country stuff.

I dunno how I got wrapped into the $AZRH thing I can understand why Jim (CEO) would be hesitant to drill the Woodford in Cochran. This business is tough. Not everybody has it in them. There are thousands of people that make an okay living watching stripper wells. Lay off him.

The $AZRH pump: “We’re going after the woodford in Cochran county” The reality: Cochran county is 120 miles outside the productive fairway of the woodford. $AZRH is the new $MMTLP. Will have the same ending.

RT @chigrl: For the newly minted Venezuelan oil experts: Little lesson. Venezuelan and Canadian oil MAY both be heavy crudes, but they're…

Here is what PetroGirl is missing Gulf Coast refineries absolutely can run Venezuelan crude, but what they ran in the 1990s and early 2000s was upgraded synthetic crude at API 25 to 30 coming out of Venezuela's Jose upgrader complex. That's not what's available today. Venezuela's upgraders have collapsed. They're running at a fraction of capacity when they're running at all. What's actually coming out of Venezuela now is raw dilbit blended to API 16, which is significantly heavier and nastier than anything these refineries have been optimized for in the past twenty years. During that time, as Venezuelan supply degraded, Gulf Coast refineries systematically reconfigured their units for Canadian WCS at API 20 to 21. That's where the billions in capital investment went: coker optimization, desulfurization balancing, hydrogen systems, metallurgy upgrades. To switch back to processing API 16 Venezuelan crude would require billions more in retrofits, three to six months of downtime per processing unit, and accepting the operational headache of exporting diluents to Venezuela just to get importable crude back. And for what? Industry sources say the margin improvement would be maybe a dollar or two per barrel. Meanwhile, Canadian supply is reliable, arrives ready to process, and the infrastructure is already paid for. When Exxon's CEO calls Venezuela "uninvestable" and ConocoPhillips points to the billions they lost there, they're not making political statements. They're telling you the capital allocation math doesn't work. The refineries are locked in by twenty years of sunk investment in Canadian grade optimization, and no CFO is going to blow billions reconfiguring for a heavier, less reliable crude that barely moves the margin needle.

Investors: JPMorgan says Venezuela has largest oil reserves JPM: That comes from an OPEC report OPEC: Our members self-report. Ask Venezuela Venezuela: We get that from PDVSA PDVSA: Hugo Chavez told us years ago to report that for prestige & now we'd look bad if we lowered it

As a heavy oil expert, with 18 patents in heavy oil production technology development and optimizations, and prior experience as a senior technical SME at a supermajor U.S. oil company that Venezuela still owes money to….I wanted to correct some of the misguided takes circulating on X. While Venezuela has the world's largest oil reserves, those figures do not translate directly into immediate production flow rates or rapid incremental increases, which demand substantial time and investment. With the next budget season not arriving until Q3, U.S. producers are currently committed to ongoing projects and contractual obligations. Venezuela's oil faces uniquely difficult geology, low ultimate recovery rates, and severe infrastructure deficits. From my work alongside Venezuelans who actually operated projects there, many cited rampant corruption and logistical nightmares as reasons they left the country. At current oil prices, the massive capital required for meaningful production growth simply isn't justified—one leading expert and good friend, estimates it would take at least 3 years to double output, adding about 1 million bbl/d… so not by next week….Unlike Canada, Venezuela has zero SAGD projects ZERO !!; any greenfield heavy oil development there would require at least $30,000 per flowing barrel, meaning roughly $1 billion!! for every 30,000 bbl/d increment achievable in perhaps three years. They mainly produce cold production, which is cheaper I’ll admit!! But with slower flow rates and rely on diluents and polymers which are enhanced recoveries ( EOR) that require capital and supply of these chemicals and infrastructure… more money. Finally, people seem to overlook the U.S. Midwest (PADD 2), which already processes around 4 million bbl/d of crude, predominantly from Canada ( see pic specifically on 🇨🇦) Venezuela lacks the logistical or practical means to displace that supply. Hope this clarifies things for everyone and helps the understanding of this volatile situation. Thx 🫡🪒

Let’s clear this up. Venezuela isn’t some oil mecca waiting for somebody to unlock it. Its production potential would be a rounding error for the US. If Trump wanted to secure meaningful oil supply he woulda sent Seal Team 6 to capture Gavin Newsom and unleash California oil

There is no stronger force of change than the free market. If wind solar are the cheapest forms of energy, as many claim, you’d expect clean energy supporters to argue the govt should get out of the way. Why then do wind solar advocates argue for more govt intervention?

🚩A simple red flag to be aware of when evaluating startups 🚩 If over 50% of the company’s news releases are about how much money they’ve raised, the company is likely dogshit.