Taskforce_Unity wrote:Partially yes, a 75% watercut is nothing unusual though. Many fields are produced with a watercut around that size (being depleted as such).
Bold added by me.While the whole "water in oilfields" issue has been a relatively obscure one, the volume of water produced from the world's oil fields is now estimated to exceed 200 million barrels per day, nearly three times the volume of the oil. Oil wells in the United States produce more than seven barrels of water for each barrel of oil brought out of the ground.
shortonoil wrote:Half the world’s major fields are now producing oily smelling water. Then we get these idiots, like the guy on the home page, declaring that prices are going to plunge. Where did all the mutant alien idiots come from? They must be detainees from another star system.
Must be. Has to be:
Okay, maybe this is a put-on. Maybe it's really tongue-in-cheek sarcasm or something...
Zardoz wrote:shortonoil wrote: Where did all the mutant alien idiots come from? They must be detainees from another star system.
Must be. Has to be:
Okay, maybe this is a put-on. Maybe it's really tongue-in-cheek sarcasm or something...
Paul Higgins wrote:If the US moves to reduce its oil consumption it will have a significant effect on world demand.
The only caveat to my scenario is if we have reached peak oil production — the point where we can no longer increase the amount of oil that is produced annually
A range of views place peak oil production somewhere between 2005-2036. Once we reach peak oil, then there will be a crunch in oil supply and price that makes current pricing look like a picnic, and my money is already on the table.
Taskforce_Unity wrote:@
The water cut drives the field prices up maybe a few dollars for production, which is nothing in comparison to the oil price
paoniapbud wrote:I predict EROEI will become a household term in about two to five years.
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