Exploring Hydrocarbon Depletion
goretexe4 wrote:However I need some datas about the oil field discoveries since the 90's, at least the number of discoveries made each year. I don t have an access to IHS or Wood Mackenzie that s why I m looking for other reliable datas. Of course before asking for some help I have been trying to find those datas on internet. Do you have in mind some database or website that can help me?
Thanks for your help
AdamB wrote:goretexe4 wrote:However I need some datas about the oil field discoveries since the 90's, at least the number of discoveries made each year. I don t have an access to IHS or Wood Mackenzie that s why I m looking for other reliable datas. Of course before asking for some help I have been trying to find those datas on internet. Do you have in mind some database or website that can help me?
Thanks for your help
The easiest way is to write the check from one of the few organizations that gathers this up globally.
Ponying up to the table costs, dial them up and see what the price tag looks like.
ROCKMAN wrote:g - Here's one link with a lot of useless and misleading info:
http://instituteforenergyresearch.org/s ... resources/
You may already be aware of the confusing metrics and phrases tossed around. Such as "contains X bbls of oil" which could mean might ultimately recover X bbls of oil even if not one bbl makes a profit: your "technically recoverable reserve". Or it means X bbls exist with the rocks but only a small % might be " technicaslly recoverable". Or it might mean X bbls could be recovered profitably but often not giving the oil price required. Or it might mean a small % of X bbls could be recovered profitably but often not giving the oil price required.
Also many of the "newly discovered fields" are neither new nor fields. The Eagle Ford Shale and Bakken are oil TRENDS composed of numerous small accumulations which may or may not be classified as individual fields. And both formations were first drilled and produced over 50 yeasrsd ago. As far as the recent Permian Basin "discovery" of the largest US oil field: again not only is it not a "field" it even isn't a "trend": it's 5 different shale interval trends. And were know to contain oil more then half a century ago when it was dertertmined they wered the source rocks for mucvmucvh of the tens of billions of bbls of oil produced from the fields n that portion of the Basin. Currently companies are applying various technologies such as frac'ng and horizontal driling to determine how commercial those reservesdreservesd might be a currernt prices.
Another slippery slope: not only is it vital to know at what oil price such "reserves" might be commercially viable. The Deep Water Brazil trend is a good example. Over 10 years ago much hype about the BILLIONS of bbls of oil discovered. Look at the huge growth in reserves just thru 2013:
http://www.offshore-mag.com/articles/pr ... tives.html
Now look at how little production has increased over a 10 year period from 2005 - 2015 despite big reserve discoveries: barely 1 million bopd. IOW a more then 300% increase and about a 75% increase in rate. So not only can the economic value of "big new oil discoveries" vary greatly but also how much (or little) they add to the available supply.
Lastly many of the numbers you find (in particular those from NOC's...national oil companies) cannot be verified even in a general sense because the details are deemed classified secrets.
Keep searching "new oil field discoveries" and you'll find much material. IMHO uderstanding it, trusting it and putting it into a proper perspective would be a bit of a challenge for a very experienced oil patch hand.
Good luck. LOL.
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