Yes, I saw the TRC's website and also posted the link above, but TRC gives annual amounts, not monthly rates like the EIA gives in the reference in the OP.
ROCKMAN wrote:The rig count actually means the rig is under contract whether it's drilling, completing, rigghing up or moving to a location.
Just a technical question. Do they need a rig to frack DUC wells? As I understood, companies delayed this operation until a better price. The recent activity in rig count could well be explained by completion, but not necessarily new drillings.
UNITED STATES NOW HOLDS MORE OIL RESERVES THAN SAUDI ARABIA
July 04, 2016
By Per Magnus Nysveen, Head of Analysis, Rystad Energy
A new independent estimate of world oil reserves has been released by Rystad Energy, showing that the US now holds more recoverable oil reserves than both Saudi Arabia and Russia. For US, more than 50% of remaining oil reserves is unconventional shale oil. Texas alone holds more than 60 billion barrels of shale oil according to this new data.
The new reserves data from Rystad Energy also distinguishes between reserves in existing fields, in new projects and potential reserves in recent discoveries and even in yet undiscovered fields. An established standard approach for estimating reserves is applied to all fields in all countries, so reserves can be compared apple to apple across the world, both for OPEC and non-OPEC countries. Other public sources of global oil reserves, like the BP Statistical Review, are based on official reporting from national authorities, reporting reserves based on a diverse and opaque set of standards.
Some OPEC countries like Venezuela report official reserves apparently including yet undiscovered oil, while others like China and Brazil officially report conservative estimates and only for existing fields.
Rystad Energy now estimates total global oil reserves at 2092 billion barrels, or 70 times the current production rate of about 30 billion barrels of crude oil per year. For comparison, cumulatively produced oil up to 2015 amounts to 1300 billion barrels. Unconventional oil recovery accounts for 30% of the global recoverable oil reserves while offshore accounts for 33% of the total. The seven major oil companies hold less than 10% of the total. This data confirms that there is a relatively limited amount of recoverable oil left on the planet. With the global car-park possibly doubling from 1 billion to 2 billion cars over the next 30 years, it becomes very clear that oil alone cannot satisfy the growing need for individual transport.
radon1 wrote:Lol
http://www.rystadenergy.com/NewsEvents/ ... udi-arabiaUNITED STATES NOW HOLDS MORE OIL RESERVES THAN SAUDI ARABIA
July 04, 2016
By Per Magnus Nysveen, Head of Analysis, Rystad Energy
AdamB wrote:Talk to Per Magnus sometime, he is quite well informed and knows his stuff, not an opinion easily laughed off.
radon1 wrote:AdamB wrote:Talk to Per Magnus sometime, he is quite well informed and knows his stuff, not an opinion easily laughed off.
Had no intention to ridicule him. Just interesting news, got excited.
pstarr wrote:I suspect that what Per Magnus calls reserves are really resources already identified by USGS. No big deal. Just more peak-oil denial
AdamB wrote:pstarr wrote:I suspect that what Per Magnus calls reserves are really resources already identified by USGS. No big deal. Just more peak-oil denial
Quantifying reserves, and the resource to reserve tranformation rate, isn't peak oil denial. It is the work peak oilers should be doing, but apparently can't be bothered with.
pstarr wrote:You are a peak-oiler AdamB (you apparently spend all of your time here), so why not improve on USGS and Per Magnus (whoever that fool may be?) and give us some better hard reserve numbers?
pstarr wrote: Is oil abiotic?
pstarr wrote: Does oil ever run out?
pstarr wrote:Or is it possible your constant gabbing and verbal wind-generation actually does generate oil reserves? You know? From the CO2
StarvingLion wrote:AdamB wrote:pstarr wrote:I suspect that what Per Magnus calls reserves are really resources already identified by USGS. No big deal. Just more peak-oil denial
Quantifying reserves, and the resource to reserve tranformation rate, isn't peak oil denial. It is the work peak oilers should be doing, but apparently can't be bothered with.
Just more utter complete desperation to get the Shale Oil Ponzi going again.
StarvingLion wrote:
All that LNG shit is bankrupt and that pseudo Per Magnus should have said:
United States has no usable oil for development whatsover
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