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Animation by Josh Sherrington
Sound by Graham Haerther (www.Haerther.net)
Thumbnail by Simon Buckmaster
Music by epidemicsound.com
Select footage courtesy the AP Archive
References:
[1] www.rystadenergy.com/globalassets/products/ep-solutions/ucube/cost-of-supply-oil-gas.jpg?w=281&h=211
[2] tradingeconomics.com/commodity/crude-oil
[3] www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=7&cad=rja&uact=8&ved=2ahUKEwj42ojRyPDoAhXig3IEHYO6BvQQFjAGegQIBRAB&url=https%3A%2F%2Fwww.ferrovial.com%2Fen-us%2Fbusiness%2Fprojects%2Faberdeen-airport%2F&usg=AOvVaw0xcfjq2cLo2RatByMpAy0P
[4] www.offshore-mag.com/business-briefs/equipment-engineering/article/16760123/reviewing-rig-construction-cost-factors
[5] www.washingtonpost.com/climate-environment/2019/10/25/americans-would-rather-reduce-oil-gas-exploration-than-drill-baby-drill/
[6] www.eia.gov/todayinenergy/detail.php?id=28552
How Offshore Oil Rigs Work
17 237 Weergaven 1,8 mln.
The graph is misleading. At some point on the graph the cost to produce oil flattens and stays fairly flat. Well before the cost begins to go up exponentially the producer stops increasing production.
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There's a distinct difference between average and marginal costs which you completly ignored. Oil production will increase till marginal costs equate price not when average cost does
They profit 60 billon a year but man those labor costs.
weve gotten millions of tonnes of water around every single major city nearly for thousands of years with no oil. and not one person thought.. "wait a minute.. why we need oil?" while we collude with them, solar/wind companies, and courts by pretending we dont see them happily blocking out the sun with more smog, and now silver iodide etc( not hidden anymore, allll over the world spraying it daily). thats tangible legal proof in the form of dollar value lost due to them. and no one sues/wins? hmm :p we're complicit by choice, try counting the death toll. choiceful ignorance.
Bias in this video
Awesome
England and Scotland are not countries.
Seems fun working here.high salary too
Countries near the area is so lucky they be able to supply the oil to other countries
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In India we rent a loan for one litre petrol 😔
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This video has almost no content about how oil rigs actually work. Thinly disguised political content. What a waste of time.
5:45 Oil executives, everyone.
Um, in 2008, the value is more like $170, which *is* more than $140, but I'm pretty sure you should've made it more than $160 or $170.
I want a job there in offshore platforms How I get that ....?
Who's here from rust????
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lol and now we are relying back on imported oil!! Yay 2.80 a gal is coming lol
I do not know if it’s just me but I didn’t learn shit from this video! And the dude talking I can’t stand how he talks! I don’t know if it’s just me but this dude make me wanna punch him in the face hearing how he talks...
As a Petroleum engineer, this is nothing about how offshore rigs and platforms work. This is video is about oil prices and why it’s a “bad idea” to drill and produce by a guy who probably has little to no knowledge about the oil and gas industry.
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My dad works on an offshore oil platform.
Noo they considered the environmental costs, they just didnt give a shit
True title: "how oil rigs don't work"
What about when a pos dictator invades a country and is forced back but ignites the oil rigs before leaving. I feel guilty if a piece of plastic blows away and I can't retrieve it and that guy caused so much more pollution and probably didn't care the slightest on the environmental impact.
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Says UK wages Then mentions dollars instead of pounds ‘AMERICA EXPLAIN’
West Eclipse . Worked on her. A great rig.
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2:25 starts
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Sam, you are in the wrong channel!
That absolute implosion at the last second on the price graph.
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Would you like to purchase a oil rig my grandfather pass it on to me I can send you documents about it and if you wish to come and look at it.. for a fair price
Would you like to purchase a oil rig my grandfather pass it on to me I can send you documents about it and if you wish to come and look at it.. for a fair price
Dear Sir / Madam, LLC"RAKURS" hereby with full legal Authorization wish to inform you on the Refinery vessel loaded with D2, LCO, EN590 10PPM on high sea. We need serious Buyer for the products, Official MOU to the product will be sent at your immediate response to this request will be high appreciate. NB: Only Official Buyers / Buyers Mandate are to respond. Best regards, LLC"RAKURS", Dugieva rosa mustafovna . WhatsApp +7 965 345 3833 Skype ID - live:.cid587bf2a71781f6cd Email: dugievallc-rakurs@mail.ru DIRECTOR / CEO.
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Dear Sir / Madam, LLC"RAKURS" hereby with full legal Authorization wish to inform you on the Refinery vessel loaded with D2, LCO, EN590 10PPM on high sea. We need serious Buyer for the products, Official MOU to the product will be sent at your immediate response to this request will be high appreciate. NB: Only Official Buyers / Buyers Mandate are to respond. Best regards, LLC"RAKURS", Dugieva rosa mustafovna . WhatsApp +7 965 345 3833 Skype ID - live:.cid587bf2a71781f6cd Email: dugievallc-rakurs@mail.ru DIRECTOR / CEO.
i loved working offshore, but the culture on the rigs can be toxic. I have never worked with so many arseholes and backstabbers
Dear Sir / Madam, LLC"RAKURS" hereby with full legal Authorization wish to inform you on the Refinery vessel loaded with D2, LCO, EN590 10PPM on high sea. We need serious Buyer for the products, Official MOU to the product will be sent at your immediate response to this request will be high appreciate. NB: Only Official Buyers / Buyers Mandate are to respond. Best regards, LLC"RAKURS", Dugieva rosa mustafovna . WhatsApp +7 965 345 3833 Skype ID - live:.cid587bf2a71781f6cd Email: dugievallc-rakurs@mail.ru DIRECTOR / CEO.
looks like the thumbnail was taken straight from rust lol
65 billion 🤯 That’s huge huge
LEUTE hört doch endlich damit auf immer wieder so ein Scheiss zu erzählen ES HAT NIE EINE EXPLOSION von irgendeiner DEEP WATER HORIZON Plattform gegeben Rohöl brennt nicht und Stahl auch NICHT das war alles von Hollywood inszeniert Und die Deppen glauben es auch noch Wie Blöd ist die Menschheit eigentlich schon
the U.S: *breathing intensifies*
Wouldn’t catch me doing this shit.
lmao 108 in 2008....that crisis
The only time i switch off a windover production video before it ends is because i see a different windover video i want to watch more.
I got an oil rig ad before this video started
Dear Sir / Madam, LLC"RAKURS" hereby with full legal Authorization wish to inform you on the Refinery vessel loaded with D2, LCO, EN590 10PPM on high sea. We need serious Buyer for the products, Official MOU to the product will be sent at your immediate response to this request will be high appreciate. NB: Only Official Buyers / Buyers Mandate are to respond. Best regards, LLC"RAKURS", Dugieva rosa mustafovna . WhatsApp +7 965 345 3833 Skype ID - live:.cid587bf2a71781f6cd Email: dugievallc-rakurs@mail.ru DIRECTOR / CEO.
No mentioning of how the oil drilling spot is first prepared by another mobile rig, before the stationary one that actually extracts oil is put into place. Also no mentioning of what is installed at the sea floor, which is at least as important as the stuff above. So a little bit on the light side of technical details.
8:45 “that oil companies might not have previously considered” you’ve got to be kidding
Fun fact: Around the time this video was uploaded, the price of US oil dropped below 0 dollars :) . I am too late but whatever.
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what does the number in the bottom right mean?
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Oil rigs and relation to oil prices and GDP... airports
Could you do "logistics of a beverage company"?
I take issue with the 'on shore production is hardly better then off shore' remark, I cannot speak for off-shore, I work in the oil field in Canada on-shore, the lengths we go to to ensure minimal environmental impact is extreme. I do not know where this comment came from?
Watching this while buying Oil, and Premium,. Madurase Island Indonesia,.
It's quite an interesting video to theorise about. Like, what if an agreement cannot be reached between the Saudis and Russians? What if the demand for oil doesn't increase substantially as a response to the end of the pandemic? Particularly that second point is worth thinking about. Many companies have found that worker productivity and mental health has not taken a hit during the pandemic (talking very generally here), so is there really a need for workers to use petroleum to get in their cars? If, say for instance in person meetings are a necessity once or twice a week, that's still a reduced number of workers actually needed physically in the office.
It broke my heart to watch that oil-covered bird struggle to regain its balance at 9:01, knowing that it probably never took flight again. I hope it’s in a better place now.
They saved that bird its a public domain stock footage by some environmental cleanup crew
Your chart doesn't take the value of a dollar into account. Sure, you could buy a barrel of oil for only 20 bucks in 1950, but back then 20 dollars was a lot more money.
Dear Sir / Madam, LLC"RAKURS" hereby with full legal Authorization wish to inform you on the Refinery vessel loaded with D2, LCO, EN590 10PPM on high sea. We need serious Buyer for the products, Official MOU to the product will be sent at your immediate response to this request will be high appreciate. NB: Only Official Buyers / Buyers Mandate are to respond. Best regards, LLC"RAKURS", Dugieva rosa mustafovna . WhatsApp +7 965 345 3833 Skype ID - live:.cid587bf2a71781f6cd Email: dugievallc-rakurs@mail.ru DIRECTOR / CEO.
7:41 $45.03/bbl 11/26/2020
Me a geologist lost job due to oil price drop and electric car being a thing. Was making amazing salary then, lay off. #LYFE
Dear Sir / Madam, LLC"RAKURS" hereby with full legal Authorization wish to inform you on the Refinery vessel loaded with D2, LCO, EN590 10PPM on high sea. We need serious Buyer for the products, Official MOU to the product will be sent at your immediate response to this request will be high appreciate. NB: Only Official Buyers / Buyers Mandate are to respond. Best regards, LLC"RAKURS", Dugieva rosa mustafovna . WhatsApp +7 965 345 3833 Skype ID - live:.cid587bf2a71781f6cd Email: dugievallc-rakurs@mail.ru DIRECTOR / CEO.
You just copied Half as Interesting.
Dear Sir / Madam, LLC"RAKURS" hereby with full legal Authorization wish to inform you on the Refinery vessel loaded with D2, LCO, EN590 10PPM on high sea. We need serious Buyer for the products, Official MOU to the product will be sent at your immediate response to this request will be high appreciate. NB: Only Official Buyers / Buyers Mandate are to respond. Best regards, LLC"RAKURS", Dugieva rosa mustafovna . WhatsApp +7 965 345 3833 Skype ID - live:.cid587bf2a71781f6cd Email: dugievallc-rakurs@mail.ru DIRECTOR / CEO.
“The global petroleum industry lives and dies by the price of oil” you don’t say
COuntrys haveoil and as they get more the price rises America: Did you just say OIL?!?!? Country: Yes Why America: haha raid go brrr
Guy at 5:20 is not hooked in
Really want to hear a bunch of scottish chatter in the sky. What a missed gem
junkbot need oil
Let’s see how the industry weathers a Biden presidency...
I love Wendover Productions!♥️👍
This video was very helpful, thank you. I'm writing a book and one of the settings is an offshore oil rig. I got a whole bundle of information from this, so once again, thanks for uploading.
This is a beyond fantastic video. Thank you!
He say scotland is a country
i hate what humans are capable of
Meanwhile @ Norway, building new gas platforms. Oil riggs dont just produce oil, some are both oil and gas, and others only gas. Feel like the gas platforms have been left out
lol they show a short video of "upper management" 5 beautiful women in late 20s and one guy. WTF are 20 year old's going to know about management for fuck sakes. These women blew their way to the top.
@Jonathan lol did you even look at dude, ime sure he would love to.
The guy too, right?
Me learning in school in 2000 , after 20 years will be no oil 😂
So why didn't the title just say 'how oil rigs operate financially' ?
oil rigs will be how we'll construct underwater cities
Who searched this because of rust
As others have commented, you guys have conflated oil rigs and oil platforms. They're not the same thing.
"pandemic"
People that can't understand there's a less deadly version of the flu going around currently. Give it a year. The flu has killed more than this virus ever could. I am currently a resident Anesthesiologist and know for a 100% fact that people over a certain age, receive a cause of death due to natural causes with flu like symptoms. Cause of death will never say flu. Now.... Democrats claim 85% of deaths in this country, with covid like symptoms are supposedly direct causes from the Covid ? 😂
Ah dinna aywis ging till Aberdeen ti buy ma sheen, but fan ah dee, ah kane fit fit fits fit fit ;)
Thought it was a video how oil rigs work... Got a video on the economics...
I live near the airport and I hear so many damn helicopters lmao
Let’s see how he weaves aircraft into a video about oilrigs.
Suggested videos are all Wendover, how?
Country dicovers massive oil reserve. USA: Your country needs freedom
I worked with a company (I’m in finance) that had a North Sea oil field worth 3 billion. We can only operate it at $45/ barrel or above profitably, or $35 at cost.
Dear Sir / Madam, LLC"RAKURS" hereby with full legal Authorization wish to inform you on the Refinery vessel loaded with D2, LCO, EN590 10PPM on high sea. We need serious Buyer for the products, Official MOU to the product will be sent at your immediate response to this request will be high appreciate. NB: Only Official Buyers / Buyers Mandate are to respond. Best regards, LLC"RAKURS", Dugieva rosa mustafovna . WhatsApp +7 965 345 3833 Skype ID - live:.cid587bf2a71781f6cd Email: dugievallc-rakurs@mail.ru DIRECTOR / CEO.
But how do they float?
*The End Is Near*
*insert mgsv reference*
Your video is hugely misinformed. First, you never mentioned HOW a rig works. RIGS do not turn profits, unless there is a drilling RIG on board a production platform. Production turns the profit. We do have recreation time out here and most platforms have gyms, billiards, darts, large TV rooms, and galleys. We do work 14/14 or 21/21 shifts, and most of the time you do not work the entire 12 hours. Aberdeen is nice, but look into Fourchon and you'll have a nice surprise on ports and heliports. This video was really hard to watch if you actually work out here.
As the early days of the COVID-19 crisis hastened the failure of the already floundering U.S. oil and gas industry, pandemic relief mechanisms like the Paycheck Protection Program intended to help small businesses were inordinately used to bail out big oil companies, says energy reporter Antonia Juhasz. In her research, Juhasz found that as much as $7 billion in PPP money went to oil and gas companies. But most problematic, she says, was the move to transfer oil company debt to the Federal Reserve through the investment company BlackRock. "Through BlackRock, you and I - the American taxpayer - are now owners in debt, through the Fed, of Exxon, Chevron, of Energy Transfer Partners, Phillips 66," says Juhasz. Instead, "we need to allow this industry to do what it would be doing on its own anyway, which is going away, because the world is trying - and succeeding - in moving away from this resource."
A nurse once told me that you should never watch shows about your own profession. Now i understand. BTW "Rigs" and "Platforms" are totally different things that they got totally confused about.
Another correction: The office people think they make the decisions, but we do what we want because they don't always know what is going on. Uninformed decisions by office folk can cause accidents, that is exactly what caused the Macondo situation.
Correction: Offshore oil platforms are almost never located above oil wells, they are placed in the middle of an area with multiple wells as far as 100 miles away. Also, as those wells are depleted new ones are added.
@Highping1 I am currently on West Delta 73 in the gulf of mexico, and we have multiple wells ON our facility, including a few duel string wells. Most companies on the shelf over here do not have subsea wells.
@Robert Martin I have never heard of wells above the waterline except in swamps. Are you trolling? If not, please give an example of an offshore platform with wells above the water line. I was on Shenzi for a while and it had the capacity for 100 wells.
Nope we are located above zones. you might be refereing to subsea wells, but there are wells above the water line too. In fact we have 18 flowing wells on my platform alone.