http://whiskeyandgunpowder.com/edwin-drake-the-ghost-of-colonel-drake/ Whiskey and Gunpowder features articles on gold, oil, currencies, emerging markets, energy, and more. Sun, 12 Feb 2012 15:22:51 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://whiskeyandgunpowder.com/edwin-drake-the-ghost-of-colonel-drake/comment-page-1/#comment-22601 Cutting Loose On American Energy... Fri, 27 Jan 2012 17:35:53 +0000 http://agoratestsite.com/wordpresswhiskey/?p=3#comment-22601 [...] As for money-losing leases? I’ve mentioned many times that there’s a lot of over-leasing going on. Indeed, we’ll never know about a lot of leases because there are not nearly enough drilling rigs to drill all the acreage within the dates of the lease terms. This won’t be the first time that oil companies over-leased a play and lost money on the marginal stuff. That’s been going on since the days of Col. Drake and Titusville. Heck, Titusville invented the oil boom-bust cycle. I’ve been writing about that since my first articles for Whiskey & Gunpowder, back in 2004. [...] [...] As for money-losing leases? I’ve mentioned many times that there’s a lot of over-leasing going on. Indeed, we’ll never know about a lot of leases because there are not nearly enough drilling rigs to drill all the acreage within the dates of the lease terms. This won’t be the first time that oil companies over-leased a play and lost money on the marginal stuff. That’s been going on since the days of Col. Drake and Titusville. Heck, Titusville invented the oil boom-bust cycle. I’ve been writing about that since my first articles for Whiskey & Gunpowder, back in 2004. [...]

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