by Steve St. Angelo, SRSRocco Report:
Every once in a while, I see something that really HITS the NAIL on the HEAD. And, to do it in three minutes and be hilarious, is truly amazing. If you want to know what is happening in the Shale Oil Industry, you must watch this short video on the BAKKEN… “We are Kaput.”
Actually, this video was put together by 50+ year oil veteran, Mike Shellman, back in 2020. Mike just reposted it today, and I thought I would share it on my website. If you haven’t checked out Mike Shellman’s Blog, I highly recommend you do and subscribe.
TRUTH LIVES on at https://sgtreport.tv/
His website is here: OilyStuffBlog.
And, you can see new Forum Posts here: OilystuffBlog Forum Posts.
We Are Kapput Post Here: OilystuffBlog “We Are Kapput.!!”
Mike took the infamous Hitler Bunker Scene and added his Captions. These captions perfectly describe what is taking place not only in the Bakken, but also in the other Shale Oil Fields. While it will take a bit of time to show, there are so many RED FLAGS now happening in the Shale Industry; Peak is now here.
We must remember, that the Shale Industry used up 4,500+ DUCs – Drilled But Uncompleted Wells over the past two years, and didn’t have to book these as CAPEX costs, but now will have to. Thus, the shale companies reported lower CAPEX and higher Profits & Free Cast Flow due to this high Pre-Pandemic Inventory of DUCs. That comes back to haunt them now that costs have exploded, and they now have to DRILL & COMPLETE wells to maintain production.
CLICK on the IMAGE below, and it will take you to the Page that Mike Shellman used to make this video:
You can also click on the link below:
Read More @ SRSRoccoReport.com
