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 Post subject: Re: Oil and Gas fields off the Irish Coast
PostPosted: Fri Aug 04, 2017 12:41 am 
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werpen wrote:
Skippy 3 wrote:
My thoughts exactly 2pack!

But never fear, every Fruit Loop in Munster will be out to declare this the biggest environmental threat since the Union Carbide plant in Bhopal.

Mmm, stored in the kinsale gasfield, that to me sounds like an idea up there with biodiesel.


Probably lose 40- 50% to leakagaes :x


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 Post subject: Re: Oil and Gas fields off the Irish Coast
PostPosted: Fri Aug 04, 2017 1:18 am 
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If it was leaky sure there would have been no Gasfield in the first place Tommy.

Apropos a more relevant matter...Providence are around half way through their well drilling way off Kerry right now. They should be updating us on what they found in the upper half of that well fairly shortly.

The last time they drilled in that area 4 years back they found very little as the target structure was leaky...IE there was nothing there anymore.

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 Post subject: Re: Oil and Gas fields off the Irish Coast
PostPosted: Fri Aug 04, 2017 1:48 am 
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werpen wrote:
Skippy 3 wrote:
My thoughts exactly 2pack!

But never fear, every Fruit Loop in Munster will be out to declare this the biggest environmental threat since the Union Carbide plant in Bhopal.

Mmm, stored in the kinsale gasfield, that to me sounds like an idea up there with biodiesel.


It's a good plan. The question in is does the company have the gas. RTE reported the company has several wells, but the company's own website makes no such claim. As a gas consumer I'd want to know a lot more about the plan before allowing 1/3 of my supply be tampered with. Corrib is doing a grand job so far and is set to continue for another 20 years.

Quote:
Most existing natural gas storage in the United States is in depleted natural gas or oil fields that are close to consumption centers. Conversion of a field from production to storage duty takes advantage of existing wells, gathering systems, and pipeline connections. Depleted oil and natural gas reservoirs are the most commonly used underground storage sites because of their wide availability. https://www.eia.gov/naturalgas/storage/basics/


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 Post subject: Re: Oil and Gas fields off the Irish Coast
PostPosted: Fri Aug 04, 2017 1:00 pm 
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https://www.irishtimes.com/business/ene ... -1.3176754

Providence shares plummet 46% as water found in key well
Oil explorer will now drill 1,000 metres deeper to Drombeg target


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 Post subject: Re: Oil and Gas fields off the Irish Coast
PostPosted: Fri Aug 04, 2017 1:18 pm 
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@jmc We are living in the Holocene :roll:

@ohlordy
Quote:
I'm arguing that Ireland's course of action should be to take a responsible role, stop further drilling in Irish controlled seas.
You can disagree with this course of action, but to do so and not acknowledge that doing so WILL contribute to increased co2 emissions is dishonest.


Well not really. We should be trying to reduce our CO2 emissions, starting with the least efficient fossil fuels (and discouraging any long-term use of energy inefficient "sustainable" biofuels). The least efficient fossil fuels are peat, then brown coal, then coal, then heavy oil, then oil, then gas. As far as I know, burning coal produces more global CO2 than any other fuel. We burn coal, peat, oil and gas. We are still completely dependent on oil, and it would seem hypocritical (and economically foolish) to ban oil drilling while consuming oil and burning even dirtier fuels.
nd of course, when we try to harness our renewable energy resources, people object. People like An Taisce http://www.irishtimes.com/news/environment/an-taisce-denies-being-opposed-to-wind-farms-1.1353139


ETA tag


Last edited by pishwish on Fri Aug 04, 2017 1:20 pm, edited 1 time in total.

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 Post subject: Re: Oil and Gas fields off the Irish Coast
PostPosted: Fri Aug 04, 2017 1:26 pm 
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pishwish wrote:
@jmc We are living in the Holocene :roll:

@ohlordy
Quote:
I'm arguing that Ireland's course of action should be to take a responsible role, stop further drilling in Irish controlled seas.
You can disagree with this course of action, but to do so and not acknowledge that doing so WILL contribute to increased co2 emissions is dishonest.


Well not really. We should be trying to reduce our CO2 emissions, starting with the least efficient fossil fuels (and discouraging any long-term use of energy inefficient "sustainable" biofuels). The least efficient fossil fuels are peat, then brown coal, then coal, then heavy oil, then oil, then gas. As far as I know, burning coal produces more global CO2 than any other fuel. We burn coal, peat, oil and gas. We are still completely dependent on oil, and it would seem hypocritical (and economically foolish) to ban oil drilling while consuming oil and burning even dirtier fuels.
nd of course, when we try to harness our renewable energy resources, people object. People like An Taisce http://www.irishtimes.com/news/environment/an-taisce-denies-being-opposed-to-wind-farms-1.1353139


ETA tag


Yes, reduction in use is important.

It is not about banning oil extraction while we make the necessary changes, it is about banning extraction from any oil field not currently producing.
No oil company is going to spend 3 billion or whatever huge amount it may be equipping themselves to start production on a new field, and then stop extraction from that field at some point in the future until to do so is no longer economically viable.
If we stop them starting on new fields, we know for sure that all of the carbon within those fields will remain there
http://leave-it-in-the-ground.org/wp-co ... nge-v2.pdf


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 Post subject: Re: Oil and Gas fields off the Irish Coast
PostPosted: Fri Aug 04, 2017 6:43 pm 
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slasher wrote:
https://www.irishtimes.com/business/energy-and-resources/providence-shares-plummet-46-as-water-found-in-key-well-1.3176754

Providence shares plummet 46% as water found in key well
Oil explorer will now drill 1,000 metres deeper to Drombeg target


Ireland is now 30 days away either from having an oil industry in future...or a busted flush.

If they again find nothing 1000m down ( the watery upper reservoir was the primary target) then Irish exploration is a dead duck IMO and Providence will likely go to the wall within a year or two.

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 Post subject: Re: Oil and Gas fields off the Irish Coast
PostPosted: Fri Aug 04, 2017 6:50 pm 
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Serious question. What possessed you to buy Providence shares?


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 Post subject: Re: Oil and Gas fields off the Irish Coast
PostPosted: Fri Aug 04, 2017 7:29 pm 
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I've never paid much attention to Providence but it always seemed, excuse the pun, a pump and dump share vehicle aimed at green jersey investors.

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 Post subject: Re: Oil and Gas fields off the Irish Coast
PostPosted: Tue Aug 08, 2017 11:23 am 
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I guess we have given up on oil and gas off the Irish coast when there is nothing of note to debate??

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 Post subject: Re: Oil and Gas fields off the Irish Coast
PostPosted: Tue Aug 08, 2017 11:23 am 
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werpen wrote:
I guess we have given up on oil and gas off the Irish coast when there is nothing of note to debate??


the thread was fucked anyway. Good timing I suppose.


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 Post subject: Re: Oil and Gas fields off the Irish Coast
PostPosted: Tue Aug 08, 2017 12:22 pm 
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slasher wrote:
werpen wrote:
I guess we have given up on oil and gas off the Irish coast when there is nothing of note to debate??


the thread was fucked anyway. Good timing I suppose.

It will be if, or should that be when, the Providence results come back dry!

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 Post subject: Re: Oil and Gas fields off the Irish Coast
PostPosted: Tue Aug 08, 2017 12:23 pm 
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dolanbaker wrote:
slasher wrote:
werpen wrote:
I guess we have given up on oil and gas off the Irish coast when there is nothing of note to debate??


the thread was fucked anyway. Good timing I suppose.

It will be if, or should that be when, the Providence results come back dry!


Fill your boots in the meantime

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 Post subject: Re: Oil and Gas fields off the Irish Coast
PostPosted: Tue Aug 08, 2017 4:25 pm 
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dolanbaker wrote:
slasher wrote:
werpen wrote:
I guess we have given up on oil and gas off the Irish coast when there is nothing of note to debate??


the thread was fucked anyway. Good timing I suppose.

It will be if, or should that be when, the Providence results come back dry!


Providence will have made a profit on this drill even if it's a duster. It was more than 100% funded by Cairn and Total. So they'll get to roll the dice a couple more times no matter what happens.

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 Post subject: Re: Oil and Gas fields off the Irish Coast
PostPosted: Mon Sep 11, 2017 7:32 am 
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Providence just posted an RNS on the London Stock Exchange. The second target on the Druid/Drombeg drill contains nothing more valuable than water either. Bad news for all the license holders in adjacent blocks too. Providence say their next plan is to drill the Barryroe field in the Celtic Sea themselves in 2018, having miserably failed to farm it out for five years now. I expect their share price will be about 4p when the market opens in 30 minutes time, down 99.5% from their five year high.

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