slick50 wrote: Venezuela seems to have peaked, even if you don't look at the strike by oil workers.
China: Daqing is their main oil field, it peaked 2 years ago, and is in terminal decline. Unless China finds major new fields soon, we can say China has peaked.
Mexico's main field Canterrel is holding its own with nitrogen injection.
The_Virginian wrote:OK but what about the "heavy" oil form Venzuala ? How much is their reall, and what percentage can be extracted?
smiley wrote:According to the BP data Venezuela's "peak" production was in 1998. That's 4 years before the strikes. If I'm correct OPEC started tightening its quota in 2000.
So Venezuela is indeed in decline. It would make sense. Venezuela has been a strong supporter for actions by OPEC to limit production, probably in an effort to mask their own decline.
slick50 wrote:Economagic.com is a great site to evaluate each countries oil production, among other issues.
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.
Ender wrote:The best case is that beginning now, our oil supplies are concentrating in places like the Middle East and sub-saharan Africa: an unhealthy geopolitical dependence.
The worst case is that the beginning of peak oil is upon us, and the terminal decline that is clearly underway in around ten of the top 25 producers.
Comments?
vision-master wrote:hoped?
Explain shorty.
ROCKMAN wrote:"it is surprising how peak oil didn't quite turn out as was hoped.". HELL YEAH!!! Hoped with every ounce of our souls. The oil patch, that is. Thanks to the ever deteriorating energy situation oil has increased about 400% in the last 10 years or so. Years ago I was siting on a piece of crap Russian drillship doing 42 day hitches that took me about 24 hours transit time each way. Now I sit in a nice office just 10 hours a day that's just a 30 minute drive from my on bed. Even better I pulling in 2X the pay and earning a piece of the company. And part of that piece will come from the horizontal well I drilled (making about $5 million/year) in a 67 year old "depleted" conventional field. Got 8 more like it ready to drill. I generated this play in 1996 but couldn't get it drilled until oil prices boomed. Me and every other gray-hair were praying for one more boom before we attained room temperature. I know geologists that couldn't find oil in their drive way that are pulling in $180k per year drilling shales wells. And the principles at Petrohawk divided up $12 billion when they sold their chunk of the Eagle Ford.
Hoped for...dreamed of...fantasized about...prayed for. HELL YEAH!!! We are delivered!!! Oh...the rest of you? Tough sh*t. LOL.
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.
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