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<p>[QUOTE="Drusus, post: 652754, member: 6370"]In fact the data for oil production is quite reliable although accurate speculation is difficult for other reasons, not because it is a secret. The nature of oil drilling and production means they cannot keep such secrets. The nature of the business oddly requires even competitors to be willing to share info and work together in many cases.</p><p> </p><p>I only work for an oil service and tool manufacturing company (a bigger one) and we track every well on earth, each wells production, actual new wells, projected new wells (we need to know these things as we provide tools and service for these things) the industry goes in cycles so we track when we are in a drilling or production phase. At any given time my company knows how many well are operating world wide and how much they are producing each year, how many new projects the big guys have in the works, and how much those new wells will likely produce, what tool requirements each well will need, whether deep water, shallow, etc...and who is in the running to provide service and tools for those wells. We can tell you who provide the wellhead for a platform off the coast of Nigeria as easily as who provided the liner hanger each well operating in the north sea.</p><p> </p><p>There is only a handful of companies that can do certain things. It doesn't matter if its Brazil and Petrobras, or Singapore, or Gazprom. They will still need to contract someone like Shell, and Shell will still have to buy a wellhead, they will still need to contract every little aspect of a floater, a jack-up, etc...Shell doesn't drill, shell hires drillers, shell doesn't make oil tools, they hire us to make oil tools, they dont make platforms, they hire someone. </p><p> </p><p>The state oil companies...in most cases, are just contractors...those who do the work and whose existence counts on being the provider for these wells knows exactly how many wells are out there...its not exact of course...but its not quite the secret you make it out to be as these state companies must release most data to the many companies they must contract to do the work. </p><p> </p><p>I also think the major speculators (and they are big...just like oil) have a huge effect on oil prices...they are in fact one of the several major reasons why oil prices spike...creating artificial panic so oil prices will spike and they will make a nice profit per barrel. But this is not about oil.[/QUOTE]</p><p><br /></p>
[QUOTE="Drusus, post: 652754, member: 6370"]In fact the data for oil production is quite reliable although accurate speculation is difficult for other reasons, not because it is a secret. The nature of oil drilling and production means they cannot keep such secrets. The nature of the business oddly requires even competitors to be willing to share info and work together in many cases. I only work for an oil service and tool manufacturing company (a bigger one) and we track every well on earth, each wells production, actual new wells, projected new wells (we need to know these things as we provide tools and service for these things) the industry goes in cycles so we track when we are in a drilling or production phase. At any given time my company knows how many well are operating world wide and how much they are producing each year, how many new projects the big guys have in the works, and how much those new wells will likely produce, what tool requirements each well will need, whether deep water, shallow, etc...and who is in the running to provide service and tools for those wells. We can tell you who provide the wellhead for a platform off the coast of Nigeria as easily as who provided the liner hanger each well operating in the north sea. There is only a handful of companies that can do certain things. It doesn't matter if its Brazil and Petrobras, or Singapore, or Gazprom. They will still need to contract someone like Shell, and Shell will still have to buy a wellhead, they will still need to contract every little aspect of a floater, a jack-up, etc...Shell doesn't drill, shell hires drillers, shell doesn't make oil tools, they hire us to make oil tools, they dont make platforms, they hire someone. The state oil companies...in most cases, are just contractors...those who do the work and whose existence counts on being the provider for these wells knows exactly how many wells are out there...its not exact of course...but its not quite the secret you make it out to be as these state companies must release most data to the many companies they must contract to do the work. I also think the major speculators (and they are big...just like oil) have a huge effect on oil prices...they are in fact one of the several major reasons why oil prices spike...creating artificial panic so oil prices will spike and they will make a nice profit per barrel. But this is not about oil.[/QUOTE]
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