AdamB wrote:... troll.... trolling.... troll.....
Cheers!
AdamB wrote:... troll.... trolling.... troll.....
Plantagenet wrote:EIA and OPEC predict US shale oil will add ca. 1 million bbls/day of new production in 2018
5-oil-factors-watch-2018]
The US TOS shale biz is currently losing money. If they increase oil production by 1 million bbls/day will they make up their losses on volume?
Cheers!
Plantagenet wrote:IEA fears oil shortages by 2020 as new oil discoveries fall to record low
pstarr wrote:
Tony Seba rides in a clown car. His 'disruptive' paradigm depends on AI and driverless cars.
tita wrote:https://shaleprofile.com/index.php/2017/12/15/north-dakota-update-through-october-2017/
Older wells also appear to have grown, which may be related with refracking or completion of DUC, I don't know. At this rythm, Bakken will reach its 2015 high before the end of the year.
zoidberg wrote:Im pretty sure theres more resources globally awaiting proper investment conditions to come online. If north america alone had all this potential surely theres a lot more waiting in the wings.
zoidberg wrote:Im pretty sure theres more resources globally awaiting proper investment conditions to come online. If north america alone had all this potential surely theres a lot more waiting in the wings.
The ‘hottest shale play’ has been the media’s favorite cliché for the Permian Basin over the past year. And while cliché, the basin straddling West Texas and New Mexico has lived up to this description—its oil production, unlike that in other basins, did not fall off a cliff during the downturn, it recently beat its own record from the 1970s, and is expected to continue to increase production more than any other U.S. shale play and account for most of the American oil production growth. The Permian has been pumping oil since the 1920s. Conventional oil production started to decline in the late 1970s, but the fracking boom revitalized the oil-producing region in the early 2010s, and as oil prices rose last year, the Permian beat its previous record for annual oil production dating back to 1973. The Permian surge in oil
AdamB wrote:
The ‘hottest shale play’ has been the media’s favorite cliché for the Permian Basin over the past year. And while cliché, the basin straddling West Texas and New Mexico has lived up to this description—its oil production, unlike that in other basins, did not fall off a cliff during the downturn, it recently beat its own record from the 1970s, and is expected to continue to increase production more than any other U.S. shale play and account for most of the American oil production growth. The Permian has been pumping oil since the 1920s. Conventional oil production started to decline in the late 1970s, but the fracking boom revitalized the oil-producing region in the early 2010s, and as oil prices rose last year, the Permian beat its previous record for annual oil production dating back to 1973. The Permian surge in oil
What’s The Limit For Permian Oil Production?
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
Plantagenet wrote:Yes, there are countries like Iraq and Iran where oil production has some room to increase. However, there are many other countries where production has already peaked and gone into decline. Whether or not global oil production peaks in the next couple of years will depend on the total global picture--ie. even if oil production is still increasing in a few countries, oil production declines are occurring in many more countries.
Global oil production growth has been very slow for the last several years. Its inevitable that at some point it will slow even further and then stop growing.
Cheers!
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
Tanada wrote:...it may turn out that once sale prices on the world market creep high enough the next generation of exploration will boom seeking new resources to exploit.
This isn't to say they will automatically find enough to replace consumption especially after all the recent growth we have experienced. However declaring that low growth in a glut market is some sign of imminent doom is at best premature IMO.
Subjectivist wrote:Don't forget Venezuela alone has over a TRILLION barrels of heavy and extra heavy oil, basically the same stuff Canada gets out of the tar sands and sells millions of barrels of a day. They also have the advantage of tropical weather making it easier to pump the stuff in the September through April period every year.
This is a huge resource and if the world needs regime change and moder refineries to make use of it I expect that to happen when really needed.
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