Diversification! Oil prices falling!

[Numb3r4]

Last I heard range resources bought 19 new rigs.


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Workover or Drilling?

Where are they operating currently?

[Numb3r4]

Don't forget the Bakken shale.

Still though it doesn't mean thst we must neglect our production technology. You mentioned that producers have found ways of exploring amd drilling cheaper this is true, however they should take the time to invest in cheaper long term production technologies and strategies for maintaining the reservoir.

We in Trinidad not only have to explore and drill more but also use better more progressive methods when it comes to production.

I welcome any move by this government to allow more small scale explores tobe granted licences to prove fields. Small scale explorers tend to operate on limited funds and they make every penny count and are quicker to find oil. Big companies have the funds but are lazy to find oil and they normally waste money taking forever to prove-up a fields.

Really think they going to do that? Given the state of Petrotrin they got their hands full....think the best thing this administration could do for the Oil and Gas sector would be to try to get Petrotrin going again if not making it profitable but trying to bring about some kind of management reform, stop the proliferation of unaccountable consultants.

Not only that but only select companies get contracts from the state oil company and our energy sector so I wouldn't hold my breath too long when it comes to dispensation of leases to small developers. If they do fine I am glad if not well....

[Numb3r4]

Remember OPEC just met on December 4th and they said that they will not cut production....so let's see what happen in 2016.

[zoom rader]

Don't forget the Bakken shale.

Still though it doesn't mean thst we must neglect our production technology. You mentioned that producers have found ways of exploring amd drilling cheaper this is true, however they should take the time to invest in cheaper long term production technologies and strategies for maintaining the reservoir.

We in Trinidad not only have to explore and drill more but also use better more progressive methods when it comes to production.

I welcome any move by this government to allow more small scale explores tobe granted licences to prove fields. Small scale explorers tend to operate on limited funds and they make every penny count and are quicker to find oil. Big companies have the funds but are lazy to find oil and they normally waste money taking forever to prove-up a fields.

Really think they going to do that? Given the state of Petrotrin they got their hands full....think the best thing this administration could do for the Oil and Gas sector would be to try to get Petrotrin going again if not making it profitable but trying to bring about some kind of management reform, stop the proliferation of unaccountable consultants.

Not only that but only select companies get contracts from the state oil company and our energy sector so I wouldn't hold my breath too long when it comes to dispensation of leases to small developers. If they do fine I am glad if not well....

Petrotin lacks the zeal plus they have a lazy work force as with many state companies.

Only way is for private enterprise who wants to find oil and make money.

[toyolink]

The discussion about diversification of our economy has been going on for as long as I can remember.
The conversation gets loud when oil and (later) gas prices fall and money get tight,but as soon as price of hydrocarbons get better it becomes a murmur.
Everybody places the responsibility for diversification on the Govt of the day, but really the average Trini aint willing to seriously work in certain industries and even trades people refuse to adjust wage expectations (many actually prefer to stay home) to match new market tolerances.
The last time around when things were going down people resisted the adjustments needed until it got real grim for all before people actually started to accept the available 'rates'.
When grim reality set-in and we all shifted, T&T became a real force in the regional market and our efficiencies resulted in some serious growth.
I really believe that nothing going to happen until citizens get serious about adjustments and putting down some really productive days.Unfortunately, my view is that nobody going to get to the point described until 'life' is on the line.
Right now we are just sitting ducks.

[zoom rader]

The discussion about diversification of our economy has been going on for as long as I can remember.
The conversation gets loud when oil and (later) gas prices fall and money get tight,but as soon as price of hydrocarbons get better it becomes a murmur.
Everybody places the responsibility for diversification on the Govt of the day, but really the average Trini aint willing to seriously work in certain industries and even trades people refuse to adjust wage expectations (many actually prefer to stay home) to match new market tolerances.
The last time around when things were going down people resisted the adjustments needed until it got real grim for all before people actually started to accept the available 'rates'.
When grim reality set-in and we all shifted, T&T became a real force in the regional market and our efficiencies resulted in some serious growth.
I really believe that nothing going to happen until citizens get serious about adjustments and putting down some really productive days.Unfortunately, my view is that nobody going to get to the point described until 'life' is on the line.
Right now we are just sitting ducks.

That's mean nothings, it carnival time. People just don't care to work.

[Numb3r4]

With regards to private companies doing Petrotrin's work I got no problem, so long as it is above board, workers are treated properly, and earnings are properly reported. Not to mention a smart system of private and pubic partnering to possibly boost the employment rates. That last one is just a side point.

[zoom rader]

With regards to private companies doing Petrotrin's work I got no problem, so long as it is above board, workers are treated properly, and earnings are properly reported. Not to mention a smart system of private and pubic partnering to possibly boost the employment rates. That last one is just a side point.

There are about 4 small time explorers . One being Trinity Oil which employs 300 staff then there is Lgo Energy, Range Resources, Touchstone.
All these companies except Touchstone are listed on the London stock exchange making it difficult for Trinis to invest. The government should have put measures in place for Trinis to take part in investing into these companies.

[nervewrecker]

Last I heard range resources bought 19 new rigs.


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Workover or Drilling?

Where are they operating currently?

If I heard correctly, drilling.
Off the top of my head: quarry / coora / quinam and gyua. Could be working elsewhere too, cant verify. Too sleepy.

With regards to private companies doing Petrotrin's work I got no problem, so long as it is above board, workers are treated properly, and earnings are properly reported. Not to mention a smart system of private and pubic partnering to possibly boost the employment rates. That last one is just a side point.

There are about 4 small time explorers . One being Trinity Oil which employs 300 staff then there is Lgo Energy, Range Resources, Touchstone.
All these companies except Touchstone are listed on the London stock exchange making it difficult for Trinis to invest. The government should have put measures in place for Trinis to take part in investing into these companies.

Range purchased Trinity.

[Numb3r4]

^^^Did they buy out completely or did they purchase assets?
Touchstone bought out some of Trinity's assets that is public.

[zoom rader]

Last I heard range resources bought 19 new rigs.


Sent from my Nexus 4 using Tapatalk

Workover or Drilling?

Where are they operating currently?

If I heard correctly, drilling.
Off the top of my head: quarry / coora / quinam and gyua. Could be working elsewhere too, cant verify. Too sleepy.

With regards to private companies doing Petrotrin's work I got no problem, so long as it is above board, workers are treated properly, and earnings are properly reported. Not to mention a smart system of private and pubic partnering to possibly boost the employment rates. That last one is just a side point.

There are about 4 small time explorers . One being Trinity Oil which employs 300 staff then there is Lgo Energy, Range Resources, Touchstone.
All these companies except Touchstone are listed on the London stock exchange making it difficult for Trinis to invest. The government should have put measures in place for Trinis to take part in investing into these companies.

Range purchased Trinity.

No they did not. I am a share holder in Trinity.
Trinity sold off its onshore land assets to Touchstone for $20M.
Right now Trinity looking to pay off its $13M loans from the sale of it lands assets to develop its offshore fields.

Range and Lgo in talks for Merger . Lgo Just paid off Trinity in shares over a deal they a year ago and took a hard hit on the London Stock market yesterday.

[Numb3r4]

^^^ Cool

[Redman]

All these companies except Touchstone are listed on the London stock exchange making it difficult for Trinis to invest. The government should have put measures in place for Trinis to take part in investing into these companies.

Its amazing that the Banking system has not made the connection between their excess liquidity and the fact that LOCAL production companies should be locally financed.

The reason the above mentioned companies went elsewhere is that we have a stultified financial sector that is happy making money on lending for cars and houses.


NOW the GORTT should create a mechanism to QA/QC the deals and finance in exchange for equity in each of the companies.

Simply allow the ownership to reside in a NEL like structure.

Its a WIN WIN.

Profits stay here.
Local Production Increases...reducing expensive imports.
FOREX is now GENERATED by the LOCAL Production.(local OIl can be sold for USD OR reduce Imports)

Increase energy related investment opps locally.

[nervewrecker]

I meant Touchstone, not Range. I dont know why I keep mixing up the two.

Saw a friend share it on fb, was hoping touchstone would at least keep Trinity's staff but....stress.

[zoom rader]

All these companies except Touchstone are listed on the London stock exchange making it difficult for Trinis to invest. The government should have put measures in place for Trinis to take part in investing into these companies.

Its amazing that the Banking system has not made the connection between their excess liquidity and the fact that LOCAL production companies should be locally financed.

The reason the above mentioned companies went elsewhere is that we have a stultified financial sector that is happy making money on lending for cars and houses.


NOW the GORTT should create a mechanism to QA/QC the deals and finance in exchange for equity in each of the companies.

Simply allow the ownership to reside in a NEL like structure.

Its a WIN WIN.

Profits stay here.
Local Production Increases...reducing expensive imports.
FOREX is now GENERATED by the LOCAL Production.(local OIl can be sold for USD OR reduce Imports)

Increase energy related investment opps locally.

Our Local banks are lazy fcuks and are not willing to take risk. They just suck the blood of car loans ect.

More trinis need to get involved with Stock market Investments

[tr1ad]

Have to do a site visit tomorrow at Touchstone.... They need to relocate their facility in FR as the highway passing; their goal is to seek compensation for relocation.

[Numb3r4]

I meant Touchstone, not Range. I dont know why I keep mixing up the two.

Saw a friend share it on fb, was hoping touchstone would at least keep Trinity's staff but....stress.

From what I gathered they might keep some of the Trinity guys because they may need their expertise with respect to managing the new assets. Might be some re shuffling or pay cuts hopefully they could keep if not expand the ranks.....but in this economic climate......

[Numb3r4]

Have to do a site visit tomorrow at Touchstone.... They need to relocate their facility in FR as the highway passing; their goal is to seek compensation for relocation.

Well in all fairness if they have to plug and abandon a producing well or relocate a gathering station that could hinder production revenue if wells go off production, of if the facility is part of a larger project that could be grounds for some compensation.

[Numb3r4]

Just to add enjoy the drive and the clean air....personally I find the fields quite scenic.

[bluesclues]

so oil just hit $37 and all i findthat comes to mind is


http://www.guardian.co.tt/news/2015-10- ... 0%94imbert

[sylphy_titan]

Not sure whether this paper by Bill Gates was posted on the forum as yet but I found it very interesting:

http://www.gatesnotes.com/~/media/Files/Energy/Energy_Innovation_Nov_30_2015.pdf?la=en

We have all this sun and wind, yet we are still so heavily dependent on non-renewable energy?

[drchaos]

Oil is like cocaine ... you need to hit rock bottom before you kick the habit. This country will never diversify enough until the easy money is done. people will look for the high hanging fruit only after all the low lying fruits are gone.

[DVSTT]

This country will never diversify.

Yup

[Numb3r4]

so oil just hit $37 and all i findthat comes to mind is


http://www.guardian.co.tt/news/2015-10- ... 0%94imbert

With those estimates do they take into consideration Iran putting oil onto the market?

[Daran]

so oil just hit $37 and all i findthat comes to mind is


http://www.guardian.co.tt/news/2015-10- ... 0%94imbert

With those estimates do they take into consideration Iran putting oil onto the market?

Very doubtful.

[Numb3r4]

The level of innovation required now is very difficult to obtain and sustain. I am not saying that we don't have the brain power, I think we could muster that but the amount of infrastructure and ground work needed to allow and sustain the growth, that is the problem.

Take the laptops in schools, while I applaud the gesture I think that could have been handled much differently not with regards to money spent and contractors used but the better thing could have been to make the teaching of let's say the Microsoft Office Suite mandatory for forms 1 to 3 so that when they leave school they have a tangible base to build upon and are capable of using the technology. For that fact you could have made the teaching of the software package madatory without even giving laptops, just use the school computer labs.

That I think is the kind of thinking that is required to really promote a culture of innovation, long term more policy oriented, working smarter and more efficiently.

Then again that is a problem again innovation is not a mandated thing we do for a period of time and then stop, it is not an infrastructural project that has a beginning, middle and an end, it is a culture that must be instilled and then nurtured.

[EmilioA]

DOMA cant even innovate enough to build some parking towers for they customers . Instead they begging the POS Council to stop wrecking .

[bluesclues]

Then again that is a problem again innovation is not a mandated thing we do for a period of time and then stop, it is not an infrastructural project that has a beginning, middle and an end, it is a culture that must be instilled and then nurtured.

indeed. ill tell you one thing innovation needs. reliable and efficient avenues of acquiring all the resources necessary to make that innovative idea a reality. as it is, the cost of innovation is VERY EXPENSIVE in trinidad. mainly because you basically have to import everything, and outsource from foreign companies to get custom jobs. simply because trinidad has no industry in those avenues. or if we do, it's sub par or lacking professionalism.

it's a culture and a mindset. not everyone is an inventor. but if we were to start to breed a culture. im thinking we could start with the infrastructure for a public inventor's lab. a place where ppl with invention ideas and various skills go to hang out. share their ideas, post requests for missing skillsets and funding from the government to pursue various projects would be fun. an open source inventors' lab. like university, just more open to the public. like a library but with alot of talking.

i mean when we jot it down. i got a trailer truck load of inventions. i mean just last week i invented a revolutionary new braking system for trucks and cars. it might be doable locally. but i need access to stuff i most likely wont get a permit for in trinidad lol. as well as an engineer or two and a few physics majors to do it in a professionally controlled environment. but if it were successful, we'd witness the world purchasing it's braking systems from trinidad for all the world's cars and trucks. im not very good at marketing myself. so what do i do now as an innovator in trinidad that wants to create a prototype for demonstration?

[boosted_wrx]

Why doesn't Trinidad invest in development for E85. We have the climate for corn and we are smart people, generate revenue in a new sector..... Anyone's thoughts ?

[Numb3r4]

Why doesn't Trinidad invest in development for E85. We have the climate for corn and we are smart people, generate revenue in a new sector..... Anyone's thoughts ?

True we do have the climate but there are many other things that go into using corn, for one thing corn for a fuel feedstock requires monoculture cultivation which is something we have done before and well didn't turn out to well in the long run, maybe if you make the farms private then it could work but you would need a good agricultural sector to help in its setup, with distribution of land and its management etc. In addition monoculture on a small island would not be such a good thing when you consider the long term health of the soil, true you could use fertilizers to keep the soil in a productive state but this could have implications with regards to the ground water and our natural watersheds. Can we handle the environmental fallout if our watersheds are contaminated with fertilizer? You probably could consider natural techniques for farming but these can take up large amounts of land with portions of it being left empty to fallow which cuts into the total amount of land that can be cultivated.

Now when it comes to generating revenue can we produce and export in quantities that could make it viable locally and possibly competitively on the open market? Consider the fact that Brazil also does corn fuel look at how much land they have do you think we can compete? We might just end up with another GTLesque type endeavor.

If you want another energy source then why not consider subsidized solar panels for houses/homeowners, thinking is that if homeowners buy it they could offset not their power bills but they could ease the load on our power producers and conserve our natural gas reserves. Might even do something for the environment. Hell why not tap into the east coast sea breeze and set up a small wind farm. True battery technology is a ways off but we can effectively buy into the ground floor of a new technology so that when it does take off in greater measure the technological jump won't be so hard to make.