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Page added on December 17, 2014
Decline Rates of Large Oilfields, featuring Jim Buckee
Former Talisman Energy CEO Jim Buckee discusses the decline rate of giant and super giant oil fields. Interviewed by Steve Andrews, Energy Analyst-Writer
6 Comments on "Decline Rates of Large Oilfields, featuring Jim Buckee"
Revi on Wed, 17th Dec 2014 12:35 pm
42!!!! Ouch!!!!!
guthrum on Wed, 17th Dec 2014 1:54 pm
This is a podcast about LNG and market-bottoming, not about decline rates of anything!
Mark Ziegler on Wed, 17th Dec 2014 5:28 pm
You can’t fix a pothole with Lng.
You can’t do much of anything with Lng.
Perk Earl on Wed, 17th Dec 2014 6:17 pm
We can’t fix a pothole with LNG, but can we fix you from posting the same thing so many times in a row?
Perk Earl on Wed, 17th Dec 2014 6:24 pm
What was interesting in that video was he said China in the past 5 years has increased their use of LNG by 3 fold! He said in many cases it’s being used as a substitute for oil and that eats into oil price.
rockman on Thu, 18th Dec 2014 7:09 am
For the 5 year period from 2008 to 2013 China increased oil consumption from 7.7 mmbopd to 10.1 mmbopd. During that time China increased NG consumption from 2.7 tcf/yr to 5.7 tcf/yr. They increased their net NG imports during this period from 40 bcf/yr to 1.4 tcf/yr. Domestic NG production increased from 2.7 tcf/yr to 4.1 tcf/yr. Couldn’t find a history but the Chinese report that they were importing 1.1 tcf/yr in 2013…19% of their consumption.
LNG subbing for oil? Gasoline consumption last 5 years: from 7.7 mmbpd to 10.1 mmbpd. But robust growth in natural gas demand in recent years, particularly in the urban coastal areas, has led China to become the third largest LNG importer. No data available to analyze but it appears little of the LNG is being used as a sub for oil sourced products.